Debt and the Effects of Fiscal Policy

By Carlo A. Favero, Francesco Giavazzi. 2007

261 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/40c4659a8237a8257d28ee8b250cb620a334bd9a

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In Economics and Econometrics

Citations in the corpus

What are the effects of fiscal policy on asset markets (2011, methodology): “We consider the following set of variables Xt=[SPt, Gt, Tt, Yt, Pt, it, Ut, HPt]′, where SPt represents the stock price index, Gt, the government expenditures, Tt, the government revenues, Yt, the GDP, 4 A feedback from the debt ratio to government revenue and government spending could be important ”
THE IDENTIFICATION OF FISCAL AND MONETARY POLICY IN A STRUCTURAL VAR (2009, methodology): “…stable.13 Note, that the relationship between the first set of variables is consistent with sustainable fiscal policy, see for example footnote 6 of Favero and Giavazzi (2007) and Blanchard and Perotti (2002), although Blanchard and Perotti (2002) find limited evidence for cointegration between…”
Fiscal Stimulus with Spending Reversals (2009, unknown): “15 Indeed, the empirical response of interest rates to fiscal policy shocks has been a topic of extensive debate; see, for example, Perotti (2004) and Favero and Giavazzi (2007). More recently, Laubach (2009) has investigated the relationship between long-horizon forward interest rates in the United”
The macroeconomic effects of fiscal policy (2012, methodology): “FERRERO, A. (2006), “Fiscal and monetary rules for a currency union”, New York University, manuscript.”
Fiscal Policy Shocks in the Euro Area and the US: An Empirical Assessment (2010, background): “Finally, Favero and Giavazzi (2007) argue that the omission of public debt in the VAR leads to biased results as they fail to take into account the debt dynamics that arises after a fiscal shock and, more importantly, overlook the possibility of taxes and spending responding to the level of debt.”
Dynamics of Fiscal Financing in the United States (2009, unknown): “Though see Favero and Giavazzi (2007) for a study that examines how including debt affects inferences from a VAR. distributions.”
The Effects of Discretionary Fiscal Policy on Macroeconomic Aggregates: A Reappraisal (2011, unknown): “While Chung and Leeper (2007) introduce a linearised version of the government budget constraint into an otherwise standard VAR, Favero and Giavazzi (2007) argue in favour of accounting for non-linearity.”