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The interaction between fiscal and monetary policies : evidence from Sweden

Ankargren, Sebastian; Shahnazarian, Hovick - 2019 - (Updated april 2019)

This paper estimates the interaction between monetary- and fiscal policy using a structural VAR model with time-varying parameters. For demand and supply shocks, the two policies are estimated to be complementary, while for monetary and fiscal policies shocks the two policies act as substitutes....

Persistent link: https://www.econbiz.de/10011990029

What are the Effects of Fiscal Policy Shocks?

Uhlig, Harald; Mountford, Andrew - 2008

policy shocks. We find that controlling for the business cycle shock is important, but controlling for the monetary policy … shock is not, that government spending shocks crowd out both residential and non-residential investment but do not reduce …

Persistent link: https://www.econbiz.de/10014118576

Empirical Investigation of Fiscal Policy Shocks in the UK

Kamal, Mona - 2011

This article examines fiscal policy shocks in the UK through using a Bayesian Vector Auto-regression (BVAR) model which applies Mountford and Uhlig (2009) type sign restriction. It investigates the impact of three fiscal policy experiments on macroeconomic variable. Specifically, the...

Persistent link: https://www.econbiz.de/10013132483

Estimating the Effects of Coordinated Fiscal Actions in the Euro Area

Hebous, Shafik - 2012

We estimate spillover effects of a fiscal shock in one member country in the euro area on outputs of the rest of the … members, using a Global Vector Autoregression (GVAR) model. We compare the effects of a domestic fiscal shock with those of a … similar size area-wide shock expressed as a weighted average of the fiscal shocks across all member countries. According to …

Persistent link: https://www.econbiz.de/10013101197

What are the effects of fiscal policy shocks?

Mountford, Andrew (contributor); Uhlig, Harald (contributor) - 2005

We propose and apply a new approach for analyzing the effects of fiscal policy using vector autoregressions. Unlike most of the previous literature this approach does not require that the contemporaneous reaction of some variables to fiscal policy shocks be set to zero or need additional...

Persistent link: https://www.econbiz.de/10003147823

Estimating the effects of coordinated fiscal actions in the euro area

Hebous, Shafik; Zimmermann, Tom - 2012

Persistent link: https://www.econbiz.de/10009581972

Monetary policy surprise shocks under different fiscal regimes : a panel analysis of the Euro Area

Afonso, António; Alves, José; Ionta, Serena - 2023

We study the effect of monetary policy surprise shocks on real output and the price level, conditioned on different fiscal stances in the period 2001Q4-2021Q4 for a panel of the 19 countries of the Euro Area. Applying local projection methodology, we find that the effect of monetary shocks...

Persistent link: https://www.econbiz.de/10014336399

Estimating US fiscal and monetary interactions in a time varying VAR

Gerba, Eddie; Hauzenberger, Klemens - 2013

We contribute to the growing empirical literature on monetary and fiscal interactions by applying a sign restriction identification scheme to a structural TVP-VAR in order to disentangle and evaluate the policy shocks and policy transmissions. This in turn allows us to study the Great Recession...

Persistent link: https://www.econbiz.de/10009722854

How Does Fiscal Policy Affect Monetary Policy in Emerging Market Countries?

Zoli, Edda - 2013

This paper analyses how fiscal policy affects monetary policy in emerging economies. First, it conducts a test for fiscal dominance, and finds that the evidence points clearly to a regime of fiscal dominance in the case of Argentina and Brazil during the 1990s and early 2000s, while for the...

Persistent link: https://www.econbiz.de/10014063784

Monetary and Fiscal Policies in a Sudden Stop : Is Tighter Brighter?

Ortiz, Alberto - 2012

In this paper we ask whether tighter monetary and fiscal policies are the right way to face a sudden stop (a sudden curtailment in capital flows) in a typical emerging economy. We develop exogenous measures of fiscal and monetary policy response and conclude that tighter policies are associated...

Persistent link: https://www.econbiz.de/10013104754