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2006-02-27Buch DOI: 10.18452/3946
Fiscal Policy Effects in the European Union
dc.contributor.authorThams, Andreas
dc.date.accessioned2017-06-15T23:05:54Z
dc.date.available2017-06-15T23:05:54Z
dc.date.created2006-03-08
dc.date.issued2006-02-27
dc.identifier.issn1860-5664
dc.identifier.urihttp://edoc.hu-berlin.de/18452/4598
dc.description.abstractThis paper analyzes empirically the impact of fiscal policy on the price level for the casesof Germany and Spain. We investigate whether the fiscal theory of the price level (FTPL) is able to deliver a reasonable explanation for the different performances of the price level in these two countries during recent years. We apply two different approaches. The first is a Bayesian VAR model using sign restrictions to assess the relation between surpluses and public debt. Afterwards, we use a Bayesian regime-switching model to uncover changes inmonetary and fiscal policy behavior. The analysis basically shows that in each of the two countries fiscal shocks have a significant impact on the price level. Nonetheless, the FTPL does not deliver a reasonable explanation for the differences in the pattern of inflation between the two countries.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectEuro areaeng
dc.subjectmonetary policyeng
dc.subjectFiscal theoryeng
dc.subjectpolicy interactioneng
dc.subjectpublic debteng
dc.subjectprice leveleng
dc.subject.ddc330 Wirtschaft
dc.titleFiscal Policy Effects in the European Union
dc.typebook
dc.identifier.urnurn:nbn:de:kobv:11-10059817
dc.identifier.doihttp://dx.doi.org/10.18452/3946
dc.subject.dnb17 Wirtschaft
local.edoc.container-titleSonderforschungsbereich 649: Ökonomisches Risiko
local.edoc.pages36
local.edoc.type-nameBuch
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2006
local.edoc.container-issue16
local.edoc.container-year2006
local.edoc.container-erstkatid2195055-6

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