We empirically assess whether a usually expected negative response of private consumption and private investment to a … HP-based; and iii) the Hamilton (2018)-based. We find that: i) increases in government consumption have a Keynesian … effect on real per capita private consumption; ii) there is a positive effect of tax increases on private consumption when …

different budgetary components. Panel Fixed Effects estimations for private consumption show that, in some cases, when fiscal … government final consumption expenditure, social transfers and taxes. Keynesian effects prevail when fiscal consolidations are …