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Fiscal targets : a guide to forecasters?
Paredes, Joan (contributor); Pérez, Javier J. (contributor) - European Central Bank - 2015
countries (Germany, France, Italy, and Spain) to show that government (consumption) targets convey useful information about ex …
Persistent link: https://www.econbiz.de/10015298354
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Combining time-variation and mixed-frequencies : an analysis of government spending multipliers in Italy; 1856, October 2015
Cimadomo, Jacopo (contributor);  … - European Central Bank - 2015
, we use this model to study the macroeconomic effects of government spending shocks in Italy over the 1988Q4-2013Q3 period …. Italy - as well as most other euro area economies - is characterised by short quarterly time series for fiscal variables … output in Italy. The fiscal multiplier, which is maximized at the one year horizon, follows a U-shape over the sample …
Persistent link: https://www.econbiz.de/10015296808
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The impact of fiscal policy announcements by the Italian government on the sovereign spread : a comparative analysis
Falagiarda, Matteo (contributor);  … - European Central Bank - 2015
-term sovereign bond spread of Italy relative to Germany. After collecting data on relevant fiscal policy announcements, we perform an …
Persistent link: https://www.econbiz.de/10015298971
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The financial and macroeconomic effects of OMT announcements : N°1707, August 2014
Altavilla, Carlo (contributor);  … - European Central Bank - 2014
France, Germany, Italy, and Spain. The scenario analysis suggests that the reduction in bond yields due to OMT announcements … France. These results are used to calibrate a scenario in a multi-country model describing the macrofinancial linkages in … is associated with a significant increase in real activity, credit, and prices in Italy and Spain with relatively muted …
Persistent link: https://www.econbiz.de/10015301819
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Monetary and fiscal policy interactions : risks to price stability in times of high government debt
Checherita-Westphal, Cristina (contributor);  … - European Central Bank - 2024
The change in macroeconomic conditions since the ECB's strategy review in 2021 towards an environment characterised by above-target inflation, high interest rates, and renewed concerns about elevated government debt has been a vocal reminder of the intricate interdependencies between monetary...
Persistent link: https://www.econbiz.de/10015321150
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Marrying fiscal rules & investment : a central fiscal capacity for Europe
Schang, Christopher (contributor);  … - European Central Bank - 2024
The European fiscal governance framework remains incomplete, hindering policy coordination during economic shocks and affecting the transmission of the single monetary policy. High public debt and low public investment worsen resilience across Member States. Many policymakers, institutions, and...
Persistent link: https://www.econbiz.de/10015275792
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The growth impact of discretionary fiscal policy measures : N°1697, July 2014
Attinasi, Maria Grazia (contributor);  … - European Central Bank - 2014
This paper looks at the impact of discretionary fiscal policy on economic growth for a sample of 18 EU countries over the period 1998-2011. The main novelty of this paper is the use, on the revenue side, of a dataset of fiscal measures based on the yield of actual legislative and budgetary...
Persistent link: https://www.econbiz.de/10015301893
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Fiscal devaluation in the euro area : a model-based analysis; N°1725, August 2014
Gomes, Sandra (contributor); Jacquinot, Pascal (contributor) - European Central Bank - 2014
Persistent link: https://www.econbiz.de/10015301965
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The economic adjustment programme for Portugal 2011-2014
Acedo Montoya, Lourdes (contributor);  … - European Commission / Directorate-General for Economic …; … - 2014
This report has been prepared to provide a general overview and assessment of the performance of the Portuguese economy under the EU/IMF adjustment programme and the remaining challenges ahead. Portugal's recent exit from the Programme implied the lapsing of the 12th and final review of...
Persistent link: https://www.econbiz.de/10015302036
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Fiscal policy and inflation : accounting for non-linearities in government debt
Checherita-Westphal, Cristina (contributor);  … - European Central Bank - 2024
This paper investigates the interplay between discretionary fiscal policy and inflation in the euro area, emphasizing the role of public debt levels in modulating this relationship. It explores how fiscal expansions or contractions influence inflationary pressures, particularly under varying...
Persistent link: https://www.econbiz.de/10015320972