Gadatsch, Niklas; Hauzenberger, Klemens; Stähler, Nikolai - 2015
world. Compared to existing models of this type, GEAR incorporates a comprehensive fiscal block, involuntary unemployment … Euro Area affected GDP growth during the global financial crisis. Our analysis suggests that spillovers of fiscal policy …-on-quarter GDP growth substantially, both in Germany and in the rest of the Euro Area. The main drivers of GDP growth in Europe …