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Transmission of government spending shocks in the Euro area : time variation and driving forces
Kirchner, Markus; Cimadomo, Jacopo; Hauptmeier, Sebastian - 2010
This paper provides new evidence on the effects of government spending shocks and the fiscal transmission mechanism in the euro area for the period 1980-2008. Our contribution is two-fold. First, we investigate changes in the macroeconomic impact of government spending shocks using time-varying...
Persistent link: https://www.econbiz.de/10011380027
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Uncertainty and non-linear macroeconomic effects of fiscal policy in the US : a SEIVAR-based analysis
Belke, Ansgar; Goemans, Pascal - 2019
We investigate whether the macroeconomic effects of government spending shocks vary with the level of uncertainty. Using postwar US data and a Self-Exciting Interacted VAR (SEIVAR) model, we find that fiscal spending has positive output effects in tranquil times but is contractionary during...
Persistent link: https://www.econbiz.de/10012116248
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Uncertainty and non-linear macroeconomic effects of fiscal policy in the US : a SEIVAR-based analysis
Belke, Ansgar; Goemans, Pascal - 2019 - First draft: December 18, 2018, this draft: September 8, 2019
We investigate whether the macroeconomic effects of government spending shocks vary with the level of uncertainty. Using postwar US data and a Self-Exciting Interacted VAR (SEIVAR) model, we find that fiscal spending has positive output effects in tranquil times but is contractionary during...
Persistent link: https://www.econbiz.de/10012268062
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What are the effects of fiscal policy shocks? A VAR-based comparative analysis
Caldara, Dario; Kamps, Christophe - 2008
-form model, all identification approaches used in the literature yield qualitatively and quantitatively very similar results as … estimated or calibrated for alternative identification approaches. These differences also translate into uncertainty about the …
Persistent link: https://www.econbiz.de/10011604923
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Transmission of government spending shocks in the euro area: Time variation and driving forces
Kirchner, Markus; Cimadomo, Jacopo; Hauptmeier, Sebastian - 2010
This paper provides new evidence on the effects of government spending shocks and the fiscal transmission mechanism in the euro area for the period 1980-2008. Our contribution is two-fold. First, we investigate changes in the macroeconomic impact of government spending shocks using time-varying...
Persistent link: https://www.econbiz.de/10011605265
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Transmission of Government Spending Shocks in the Euro Area: Time Variation and Driving Forces
Kirchner, Markus; Cimadomo, Jacopo; Hauptmeier, Sebastian - 2010
This paper provides new evidence on the effects of government spending shocks and the fiscal transmission mechanism in the euro area for the period 1980-2008. Our contribution is two-fold. First, we investigate changes in the macroeconomic impact of government spending shocks using time-varying...
Persistent link: https://www.econbiz.de/10010325831
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Government spending shocks in quarterly and annual US time-series
Born, Benjamin; Müller, Gernot J. - 2009
restrictive for U.S. annual time-series data. -- Government spending shocks ; Annual Data ; Identification …
Persistent link: https://www.econbiz.de/10003867216
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Identifying the effects of government spending shocks with and without expected reversal: an approach based on U.S. real-time data
Cimadomo, Jacopo; Hauptmeier, Sebastian; Sola, Sergio - 2011
This paper investigates how expectations about future government spending affect the transmission of fiscal policy shocks. We study the effects of two different types of government spending shocks in the United States: (i) spending shocks that are accompanied by an expected reversal of public...
Persistent link: https://www.econbiz.de/10011605407
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Identifying the effects of government spending shocks with and without expected reversal: An approach based on U.S. real-time data
Cimadomo, Jacopo; Hauptmeier, Sebastian; Sola, Sergio - 2011
This paper investigates how expectations about future government spending affect the transmission of fiscal policy shocks. We study the effects of two different types of government spending shocks in the United States: (i) spending shocks that are accompanied by an expected reversal of public...
Persistent link: https://www.econbiz.de/10010316772
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Identifying shocks via time-varying volatility
Lewis, Daniel J. - 2018
process. I propose a new identification argument that identifies the SVAR up to shock orderings using the autocovariance … select among shock orderings; this selection does not impact inference asymptotically. The identification scheme performs …
Persistent link: https://www.econbiz.de/10011926201