This paper surveys the empirical research on fiscal policy analysis based on real‐time data.
This literature can be broadly divided into four groups that focus on:(1) the statistical …

We estimate non‐linear VARs to assess to what extent fiscal spending multipliers are
countercyclical in the US. We deal with the issue of non‐fundamentalness due to fiscal …

This article discusses recent research on the macroeconomic effects of fiscal policy—the
theme of the 2018 edition of the Melbourne Institute Macroeconomic Policy Meeting. We …

Monitoring economic conditions in real time, or nowcasting, and Big Data analytics share
some challenges, sometimes called the three “Vs”. Indeed, nowcasting is characterized by …

By using the Survey of Professional Forecasters, we provide new evidence on the open-
economy effects of government spending, focusing on a well-known puzzle in the literature …

The paper aims to assess the macroeconomic impacts of government investment in
Research and Development (R&D) and more generic fiscal policies by quantifying the Gross …

This article provides an introduction to the burgeoning academic literature on Bayesian
vector autoregressions, benchmark models for applied macroeconomic research. I first …

The domestic and international transmission mechanism of fiscal policy shocks are analysed
in the United States and in Germany. Using a Bayesian VAR approach, we find that in both …

This paper aims to estimate the government investment fiscal multipliers in select European
countries for the period 1970–2016. To do this, we combine Structural Vector …

Standard macroeconomic theory predicts rapid responses of asset prices to monetary policy
shocks. Small‐scale vector autoregressions (VARs), however, often find sluggish and …