Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.5/2133
Título: Expansionary fiscal consolidations in Europe : new evidence
Autor: Afonso, António
Palavras-chave: fiscal policy
expansionary fiscal consolidations
non-Keynesian effects
panel data models
European Union
Data: Set-2006
Editora: European Central Bank
Citação: Afonso, António. 2006. "Expansionary fiscal consolidations in Europe : new evidence". European Central Bank working paper series nº 675-2006
Relatório da Série N.º: European Central Bank working paper series;nº 675-2006
Resumo: In order to assess the existence of expansionary fiscal consolidations in Europe, panel data models for private consumption are estimated for the EU15 countries, using annual data over the period 1970-2005. Three alternative approaches to determine fiscal episodes are used, and the level of government indebtedness is also taken into account. The results show some evidence in favour of the existence of expansionary fiscal consolidations, for a few budgetary spending items (general government final consumption, social transfers, and taxes), depending on the specification and on the time span used. On the other hand, the possibility of asymmetric effects of fiscal episodes does not seem to be corroborated by the results.
URI: http://hdl.handle.net/10400.5/2133
ISSN: 1725-2806
Versão do Editor: http://www.ecb.int/pub/pdf/scpwps/ecbwp675.pdf
Aparece nas colecções:DE - Documentos de trabalho / Working Papers

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