Using a novel rich dataset at the regional level, this paper provides new empirical evidence on the €fiscal transmission mechanism in the Eurozone. Our baseline estimates reveal a government spending relative output multiplier of 2.9, an employment multiplier of 1.9, and a cost per job created...

In recent years, there has been increasing interest in the analysis of narratives in macroeconomic research. Our paper contributes to this research by proposing a way to identify and extract economic narratives from media reports. Therefore, this paper applies state-of-the-art bag-of-words text...

Understanding behavioral aspects of collective decision-making is an important challenge for eco-nomics, and narratives are a crucial group-based mechanism that influences human decision-making. This paper introduces the Character-Role Narrative Framework as a tool to systematically analyze...