Advanced search
Publication Cover
Applied Economics Volume 44, 2012 - Issue 34
Submit an article Journal homepage
31,892
Views
99
CrossRef citations to date
0
Altmetric
Original Articles

The macroeconomic effects of fiscal policy

António Afonso Directorate General Economics, European Central Bank, Kaiserstraße 29, Frankfurt am Main D-60311, Germany; Department of Economics, ISEG/TULisbon, Technical University of Lisbon, UECE – Research Unit on Complexity and Economics, R. Miguel Lupi 20, Lisbon, 1249-078, PortugalCorrespondence[email protected] [email protected]
&
Ricardo M. Sousa Department of Economics and Economic Policies Research Unit (NIPE), University of Minho, Campus of Gualtar, Braga 4710-057, Portugal; Financial Markets Group (FMG), London School of Economics, Houghton Street, London WC2 2AE, UK
Pages 4439-4454 | Published online: 20 Jul 2011

Figures & data

Fig. 1. Quarterly versus annual fiscal data, US

Fig. 1. Quarterly versus annual fiscal data, US

Fig. 2. Quarterly versus annual fiscal data, UK

Fig. 2. Quarterly versus annual fiscal data, UK

Fig. 3. Quarterly versus annual fiscal data, Germany

Fig. 3. Quarterly versus annual fiscal data, Germany

Fig. 4. Quarterly versus annual fiscal data, Italy

Fig. 4. Quarterly versus annual fiscal data, Italy

Fig. 5. Implicit debt ratio and observed debt ratio, percentage of GDP

Fig. 5. Implicit debt ratio and observed debt ratio, percentage of GDP

Fig. 6. Impulse-response functions, US: (a) Spending shock and (b) Revenue shock

Fig. 6. Impulse-response functions, US: (a) Spending shock and (b) Revenue shock

Fig. 7. Impulse-response functions, UK: (a) Spending shock and (b) Revenue shock

Fig. 7. Impulse-response functions, UK: (a) Spending shock and (b) Revenue shock

Fig. 8. Impulse-response functions, Germany: (a) Spending shock and (b) Revenue shock

Fig. 8. Impulse-response functions, Germany: (a) Spending shock and (b) Revenue shock

Fig. 9. Impulse-response functions, Italy: (a) Spending shock and (b) Revenue shock

Fig. 9. Impulse-response functions, Italy: (a) Spending shock and (b) Revenue shock

Table 1. The effect of (dt −1  − d*) in a VAR

Related Research Data

Costly Capital Reallocation and the Effects of Government Spending
Source: Elsevier BV
The importance of global economic policy uncertainty in predicting gold futures market volatility: A GARCH-MIDAS approach
Source: Wiley
Booms, busts, and normal times in the housing market
Source: Informa UK Limited
Monetary Policy Shocks and Security Market Responses
Source: Elsevier BV
Measuring The Reaction of Monetary Policy to the Stock Market
Source: Oxford University Press (OUP)
Debt and the Effects of Fiscal Policy
Source: National Bureau of Economic Research
Ricardian fiscal regimes in the European Union
Source: Springer Science and Business Media LLC
An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output
Source: Oxford University Press (OUP)
The economic effects of fiscal policy: The case of Spain
Source: Elsevier BV
Fiscal multipliers in the Eurozone: an SVAR analysis
Source: Informa UK Limited
What are the effects of fiscal policy on asset markets
Source: Elsevier BV
Financial markets’ behavior around episodes of large changes in the fiscal stance
Source: Elsevier BV
Federal Government Debt and Interest Rates
Source: National Bureau of Economic Research
The Behavior of U. S. Public Debt and Deficits
Source: Oxford University Press (OUP)
L'approche var structurel
Source: CAIRN
Estimating the Effects of Fiscal Policy in OECD Countries
Source: Elsevier BV
Leading indicators for euro area government deficits
Source: Elsevier BV
A time-varying approach to analysing fiscal policy and asset prices in South Africa
Source: Emerald
Expected budget deficits and interest rate swap spreads - Evidence for France, Germany and Italy
Source: Elsevier BV
Risk Assessment of Housing Market Segments : The Lender's Perspective
Source: Multidisciplinary Digital Publishing Institute
Chapter 2 Monetary policy shocks: What have we learned and to what end?
Source: Elsevier
Fiscal Policy in Good Times and Bad
Source: Oxford University Press (OUP)
The effects of fiscal policy in Italy: Evidence from a VAR model
Source: Elsevier BV
Economic Effects of Sustained Budget Deficits
Source: University of Chicago Press
Adhere to the rules or be discretionary? Empirical evidence from the euro area
Source: Springer Science and Business Media LLC
The effectiveness of fiscal and monetary policies in a small open economy – the case of Macedonia
Source: Informa UK Limited
Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
Source: University of Chicago Press
Fiscal policy and the real exchange rate: some evidence from Spain
Source: Springer New York LLC
The dynamic behaviour of budget components and output
Source: ELSEVIER SCIENCE BV
Do people respond to tax incentives? An analysis of the Italian reform of the deductibility of home mortgage interests
Source: Elsevier BV
Fiscal policy events and interest rate swap spreads: Evidence from the EU
Source: Elsevier BV
The Impact of Monetary Policy on Asset Prices
Source: National Bureau of Economic Research
Understanding the Effects of Government Spending on Consumption
Source: Elsevier BV

Linking provided by 

Related research

People also read lists articles that other readers of this article have read.

Recommended articles lists articles that we recommend and is powered by our AI driven recommendation engine.

Cited by lists all citing articles based on Crossref citations.
Articles with the Crossref icon will open in a new tab.