Mountford, Andrew; Uhlig, Harald - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2005
We propose and apply a new approach for analyzing the effects of fiscal policy using vector autoregressions. Unlike … fiscal policy shocks be set to zero or need additional information, such as the timing of wars, in order to identify fiscal … also has the advantages that it is able to model the effects of announcements of future changes in fiscal policy and that …