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http://hdl.handle.net/10071/31823
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Campo DC | Valor | Idioma |
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dc.contributor.author | Di Serio, M. | - |
dc.contributor.author | Fragetta, M. | - |
dc.contributor.author | Gasteiger, E. | - |
dc.contributor.author | Melina, G. | - |
dc.date.accessioned | 2024-06-04T12:45:46Z | - |
dc.date.issued | 2024 | - |
dc.identifier.citation | Di Serio, M., Fragetta, M., Gasteiger, E., & Melina, G. (2024). The Euro area government spending multiplier in demand- and supply-driven recessions. Oxford Bulletin of Economics and Statistics. https://doi.org/10.1111/obes.12626 | - |
dc.identifier.issn | 0305-9049 | - |
dc.identifier.uri | http://hdl.handle.net/10071/31823 | - |
dc.description.abstract | We estimate government spending multipliers in demand- and supply-driven recessions for the Euro Area. Multipliers in a moderately demand-driven recession are two to three times larger than in a moderately supply-driven recession, with the difference between multipliers being non-zero with very high probability. More generally, multipliers are inversely correlated with the deviation of inflation from its trend, implying that the more demand-driven a recession, the higher the multiplier. Multipliers range from 0.5 in supply-driven recessions to about 2 in demand-driven recessions. The econometric approach leverages a factor-augmented interacted vector-autoregression model purified of expectations (FAIPVAR-X). The model captures the time-varying state of the business-cycle including strongly and moderately demand- and supply-driven recessions, by taking the whole distribution of inflation deviations from trend into account. | eng |
dc.language.iso | eng | - |
dc.publisher | Wiley | - |
dc.relation | 18611 | - |
dc.relation | info:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F00315%2F2020/PT | - |
dc.rights | embargoedAccess | - |
dc.subject | Fiscal multiplier | eng |
dc.subject | Business cycle | eng |
dc.subject | Interacted panel VAR | eng |
dc.subject | Factor models | eng |
dc.subject | Euro area | eng |
dc.title | The Euro area government spending multiplier in demand- and supply-driven recessions | eng |
dc.type | article | - |
dc.peerreviewed | yes | - |
dc.volume | N/A | - |
dc.date.updated | 2024-06-04T13:48:39Z | - |
dc.description.version | info:eu-repo/semantics/acceptedVersion | - |
dc.identifier.doi | 10.1111/obes.12626 | - |
dc.date.embargo | 2026-06-03 | - |
iscte.identifier.ciencia | https://ciencia.iscte-iul.pt/id/ci-pub-104276 | - |
iscte.journal | Oxford Bulletin of Economics and Statistics | - |
Aparece nas coleções: | BRU-RI - Artigos em revistas científicas internacionais com arbitragem científica |
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