We use a threshold VAR analysis to study the linkages between changes in the debt ratio,
economic activity and financial stress within different financial regimes. We use quarterly …

State-owned enterprises make up roughly 10 percent of the world economy, yet they are
woefully understudied. This handbook offers the first synthesis of the topic since the 1980s …

Most parts of the Euro area have seen seven years of deep economic crisis. The strategy of
tightening the fiscal constraints of the SGP has driven many member states into austerity. In …

We build a factor-augmented interacted panel vector-autoregressive model of the Euro Area
(EA) and estimate it with Bayesian methods to compute government spending multipliers …

This paper analyses the short-run effects of fiscal consolidation measures on economic
activity in the euro area during the euro crisis. It presents new econometric estimates on the …

The aim of this paper is to study the impact of wage devaluation policy on the recent
recovery experienced by the Spanish economy. For this purpose, we use the theoretical …

This paper contributes to the scientific and political debate on public investment multipliers
by estimating them according to their respective function of government. The analysis is …

Empirical studies support the hysteresis hypothesis that recessions have a permanent effect
on the level of output. We analyze the implications of hysteresis for fiscal policy in a DSGE …

We estimate the impact of the fiscal consolidation actions in the Euro Area between 2011
and 2013 on output and public finances. We identify the discretionary fiscal consolidation …

Abstract We present an Agent Based-Stock Flow Consistent Multi-Country model of a
Monetary Union to analyze the impact of a change in the fiscal regime of member countries …