This dissertation consists of three essays on the effects of fiscal policy on the economic activity. The first and second chapters investigate the response of major macroeconomic variables to four different types of tax policy innovations within a VAR framework using contemporaneous restrictions...

This paper examines global (mature market) and regional (emerging market) spillovers in local emerging stock markets. Tri-variate VAR-GARCH(1,1)-in-mean models are estimated for 41 emerging market economies (EMEs) in Asia, Europe, Latin America, and the Middle East. The models capture a range of...