In''t Veld, Jan; Kollmann, Robert; Ratto, Marco; … - C.E.P.R. Discussion Papers - 2012
support for banks had a stabilizing effect on EA output, consumption and investment. Increased government purchases helped to … a negligible effect on output and investment. Banking shocks and increased government spending explain half of the rise …This paper studies the effectiveness of Euro Area (EA) fiscal policy, during the recent financial crisis, using an …