000047735 000__ 01843cam\a22003255i\4500
000047735 001__ 47735
000047735 003__ SzGeWIPO
000047735 005__ 20240708150347.0
000047735 006__ m\\\\eo\\d\\\\\\\\
000047735 007__ cr bn |||m|||a
000047735 008__ 230131s2022\\\\nyu\\\\\\b\\\\000\0\eng\d
000047735 022__ $$a0960-6491 (Print)$$a1464-3650 (Online)
000047735 040__ $$aSzGeWIPO$$beng$$erda$$cSzGeWIPO
000047735 041__ $$aeng
000047735 24500 $$aNonlinearities and expenditure multipliers in the Eurozone.
000047735 264_1 $$aOxford, UK :$$bOxford University Press,$$c2022.
000047735 336__ $$atext$$2rdacontent
000047735 337__ $$acomputer$$2rdamedia
000047735 338__ $$aonline resource$$bcr$$2rdacarrier
000047735 4901_ $$aIndustrial and Corporate Change$$vVolume 31, Issue 2
000047735 5203_ $$aWe analyze the nonlinear effects of government spending in the Euro area, by using the local projection method and by testing whether the impact of the shock depends crucially on the depth of the recession, on some structural characteristics of the Eurozone (EZ) economies, and on the monetary policy stance. We provide four insights. First, expenditure multipliers in the Euro area are not significantly higher in recessions than in expansions. However they are always above unity. Second, state dependency emerges as soon as deep recession is distinguished from ordinary downturns. Third, structural characteristics, such as the presence of automatic stabilizers, the exchange rate regime, the degree of labor market flexibility, and initial conditions, such as the debt/gross domestic product ratio, do influence the size of expenditure multipliers in the EZ. Fourth, multipliers are much higher when the policy interest rate is at the zero lower bound.
000047735 542__ $$fhttps://academic.oup.com/pages/using-the-content/citation
000047735 590__ $$aPublished online: 2022
000047735 650_0 $$aEurozone
000047735 650_0 $$aFiscal policy
000047735 7001_ $$aBoitani, Andrea,$$vauthor.
000047735 7001_ $$aPerdichizzi, Salvatore,$$eauthor.
000047735 7001_ $$aPunzo, Chiara,$$eauthor.
000047735 7731_ $$tIndustrial and Corporate Change,$$wINCC
000047735 830_0 $$aIndustrial and Corporate Change$$vINCC 2022, 31(2), 552–575
000047735 85641 $$uhttps://doi.org/10.1093/icc/dtab080$$yRead the Article
000047735 904__ $$aJournal article
000047735 980__ $$aINCC