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Gernot J. Müller
(Gernot J. Mueller)

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

RePEc Biblio mentions

As found on the RePEc Biblio, the curated bibliography of Economics:
  1. Alexander Dietrich & Edward S. Knotek & Gernot J. Müller & Kristian Ove R. Myrseth & Raphael Schoenle & Michael Weber, 2020. "Consumers and COVID-19: Survey Results on Mask-Wearing Behaviors and Beliefs," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2020(20), pages 1-7, July.

    Mentioned in:

    1. > Economics of Welfare > Health Economics > Economics of Pandemics > Specific pandemics > Covid-19 > Health > Distancing and Lockdown > Compliance
  2. Bayer, Christian & Born, Benjamin & Luetticke, Ralph & Müller, Gernot, 2022. "The Coronavirus Stimulus Package: How large is the transfer multiplier?," CEPR Discussion Papers 14600, C.E.P.R. Discussion Papers.

    Mentioned in:

    1. > Economics of Welfare > Health Economics > Economics of Pandemics > Specific pandemics > Covid-19 > Economic policy > Household support > CARES Act
    2. > Economics of Welfare > Health Economics > Economics of Pandemics > Specific pandemics > Covid-19 > Economic policy > Household support > Cash transfers

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Benjamin Born & Gernot J. Müller & Johannes Pfeifer, 2020. "Does Austerity Pay Off?," The Review of Economics and Statistics, MIT Press, vol. 102(2), pages 323-338, May.

    Mentioned in:

    1. Does Austerity Pay Off? (REStat 2020) in ReplicationWiki ()

Working papers

  1. Lydia Cox & Jiacheng Feng & Gernot J. Müller & Ernesto Pastén & Raphael Schoenle & Michael Weber, 2024. "Optimal Monetary and Fiscal Policies in Disaggregated Economies," Working Papers Central Bank of Chile 1024, Central Bank of Chile.

    Cited by:

    1. Anton I. Votinov & Julia A. Polshchikova & Karen A. Nersisyan, 2025. "Macroeconomic Modeling in Post-pandemic Times," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 1, pages 62-73, February.

  2. Martin Kliem & Alexander Kriwoluzky & Gernot J. Müller & Alexander Scheer, 2024. "Financial Repression in General Equilibrium: The Case of the United States, 1948–1974," Discussion Papers of DIW Berlin 2075, DIW Berlin, German Institute for Economic Research.

    Cited by:

    1. Ettmeier, Stephanie & Kriwoluzky, Alexander, 2024. "Active or passive? Revisiting the role of fiscal policy during high inflation," European Economic Review, Elsevier, vol. 170(C).

  3. Christian Bayer & Alexander Kriwoluzky & Gernot J. Müller & Fabian Seyrich, 2023. "A HANK² Model of Monetary Unions," CRC TR 224 Discussion Paper Series crctr224_2023_449, University of Bonn and University of Mannheim, Germany.

    Cited by:

    1. Christian Bayer & Alexander Kriwoluzky & Gernot J. Müller & Fabian Seyrich, 2025. "Redistribution Within and Across Borders: The Fiscal Response to an Energy Shock," ECONtribute Discussion Papers Series 361, University of Bonn and University of Cologne, Germany.
    2. Boehnert, Lukas & de Ferra, Sergio & Mitman, Kurt & Romei, Federica, 2025. "Monetary Policy in Currency Unions with Unequal Countries," IZA Discussion Papers 17950, Institute of Labor Economics (IZA).
    3. Altavilla, Carlo & Bussière, Matthieu & Galí, Jordi & Gorodnichenko, Yuriy & Gürkaynak, Refet S. & Rey, Hélène, 2024. "A research program on monetary policy for Europe," Journal of Monetary Economics, Elsevier, vol. 147(S).

  4. Müller, Gernot & Georgiadis, Georgios & Schumann, Ben, 2023. "Dollar Trinity and the Global Financial Cycle," CEPR Discussion Papers 18427, C.E.P.R. Discussion Papers.

    Cited by:

    1. Müller, Gernot & Georgiadis, Georgios & Schumann, Ben, 2021. "Global Risk and the Dollar," CEPR Discussion Papers 16245, C.E.P.R. Discussion Papers.
    2. Georgiadis, Georgios & Jarociński, Marek, 2023. "Global spillovers from multi-dimensional US monetary policy," Working Paper Series 2881, European Central Bank.
    3. Michael B. Devereux & Charles Engel & Steve Pak Yeung Wu, 2023. "Collateral Advantage: Exchange Rates, Capital Flows and Global Cycles," NBER Working Papers 31164, National Bureau of Economic Research, Inc.

  5. Christian Bayer & Alexander Kriwoluzky & Gernot J. Müller & Fabian Seyrich, 2023. "Hicks in HANK: Fiscal Responses to an Energy Shock," CRC TR 224 Discussion Paper Series crctr224_2023_474, University of Bonn and University of Mannheim, Germany.

    Cited by:

    1. Chan, Jenny & Diz, Sebastian & Kanngiesser, Derrick, 2022. "Energy Prices and Household Heterogeneity: Monetary Policy in a Gas-TANK," MPRA Paper 118543, University Library of Munich, Germany, revised Dec 2022.
    2. Boris Chafwehé & Andrea Colciago & Romanos Priftis, 2024. "Reallocation, productivity, and monetary policy in an energy crisis," Bank of England working papers 1091, Bank of England.
    3. Gustafsson, Johan & Ma, Xiaofei & Maih, Junior & Vesterberg, Mattias, 2025. "Macroeconomic effects of fiscal policy under an energy supply shock," Energy Policy, Elsevier, vol. 203(C).
    4. Christian Bayer & Felix Bierbrauer & Axel Ockenfels & Matthias Sutter, 2025. "ECONtribute: Markets & Public Policy: Agenda und ausgewählte Forschungsschwerpunkte," ECONtribute Discussion Papers Series 352, University of Bonn and University of Cologne, Germany.
    5. Simone Emiliozzi & Filippo Favero, 2025. "Unveiling natural gas consumption sectoral price elasticities," Questioni di Economia e Finanza (Occasional Papers) 941, Bank of Italy, Economic Research and International Relations Area.

  6. Benjamin Born & Zeno Enders & Manuel Menkhoff & Gernot J. Müller & Knut Niemann & Gernot Müller, 2022. "Firm Expectations and News: Micro v Macro," CESifo Working Paper Series 10192, CESifo.

    Cited by:

    1. Francesco Bianchi & Cosmin L. Ilut & Hikaru Saijo, 2024. "Smooth Diagnostic Expectations," NBER Working Papers 32152, National Bureau of Economic Research, Inc.
    2. Blesse, Sebastian & Buhlmann, Florian & Heil, Philipp & Rostam-Afschar, Davud, 2025. "Local policy misperceptions and investment: Experimental evidence from firm decision makers," ZEW Discussion Papers 25-024, ZEW - Leibniz Centre for European Economic Research.
    3. Hack, Lukas & Rostam-Afschar, Davud, 2024. "Understanding Firm Dynamics with Daily Data," VfS Annual Conference 2024 (Berlin): Upcoming Labor Market Challenges 302376, Verein für Socialpolitik / German Economic Association.
    4. Jonas Dovern & Lena Sophia Müller & Klaus Wohlrabe, 2022. "Local Information and Firm Expectations about Aggregates," CESifo Working Paper Series 9826, CESifo.
    5. Nöller, Marvin & Balleer, Almut, 2023. "Monetary Policy in the Presence of Supply Constraints: Evidence from German Firm-level Data," VfS Annual Conference 2023 (Regensburg): Growth and the "sociale Frage" 277638, Verein für Socialpolitik / German Economic Association.
    6. Robert Lehmann, 2020. "The Forecasting Power of the ifo Business Survey," CESifo Working Paper Series 8291, CESifo.
    7. Schmidt, Torsten & Müller, Henrik & Rieger, Jonas & Schmidt, Tobias & Jentsch, Carsten, 2023. "Inflation perception and the formation of inflation expectations," Ruhr Economic Papers 1025, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    8. Balleer, Almut & Noeller, Marvin, 2023. "Monetary policy in the presence of supply constraints: Evidence from German firm-level data," Ruhr Economic Papers 1060, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    9. Almut Balleer & Marvin Noeller, 2023. "Monetary Policy in the Presence of Supply Constraints: Evidence from German Firm-Level Data," CESifo Working Paper Series 10261, CESifo.
    10. Daria Minina & Gabriele Galati & Richhild Moessner & Maarten van Rooij, 2024. "The effect of information on consumer inflation expectations," Working Papers 810, DNB.
    11. Chan, Jenny, 2024. "Monetary policy and sentiment-driven fluctuations," Journal of Economic Theory, Elsevier, vol. 222(C).
    12. Jenny Chan, 2024. "Monetary policy and sentiment-driven fluctuations," Bank of England working papers 1106, Bank of England.
    13. Zaremba, Adam & Cakici, Nusret & Bianchi, Robert J. & Long, Huaigang, 2023. "Interest rate changes and the cross-section of global equity returns," Journal of Economic Dynamics and Control, Elsevier, vol. 147(C).

  7. Dietrich, Alexander & Müller, Gernot & Schoenle, Raphael, 2022. "The Expectations Channel of Climate Change: Implications for Monetary Policy," CEPR Discussion Papers 15866, C.E.P.R. Discussion Papers.

    Cited by:

    1. Barbara Annicchiarico & Fabio Di Dio & Francesca Diluiso, 2022. "Climate Actions, Market Beliefs and Monetary Policy," CEIS Research Paper 535, Tor Vergata University, CEIS, revised 25 Mar 2022.
    2. Boneva, Lena & Ferrucci, Gianluigi & Mongelli, Francesco Paolo, 2021. "To be or not to be “green”: how can monetary policy react to climate change?," Occasional Paper Series 285, European Central Bank.
    3. Ferrari Minesso, Massimo & Pagliari, Maria Sole, 2023. "No country is an island. International cooperation and climate change," Journal of International Economics, Elsevier, vol. 145(C).
    4. Hélène Benveniste & Michael Oppenheimer & Marc Fleurbaey, 2022. "Climate change increases resource-constrained international immobility," Post-Print halshs-03907684, HAL.
    5. Alessandro Cantelmo, 2022. "Rare Disasters, the Natural Interest Rate and Monetary Policy," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(3), pages 473-496, June.
    6. William Ginn, 2022. "Climate Disasters and the Macroeconomy: Does State-Dependence Matter? Evidence for the US," Economics of Disasters and Climate Change, Springer, vol. 6(1), pages 141-161, March.
    7. Patrick Gruning, 2022. "Fiscal, Environmental, and Bank Regulation Policies in a Small Open Economy for the Green Transition," Working Papers 2022/06, Latvijas Banka.
    8. Fischer, Lion & Rapp, Marc Steffen & Zahner, Johannes, 2024. "Central banks sowing the seeds for a green financial sector? NGFS membership and market reactions," IMFS Working Paper Series 198, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    9. Bijnens, Gert & Anyfantaki, Sofia & Colciago, Andrea & De Mulder, Jan & Falck, Elisabeth & Labhard, Vincent & Lopez-Garcia, Paloma & Meriküll, Jaanika & Parker, Miles & Röhe, Oke & Schroth, Joachim & , 2024. "The impact of climate change and policies on productivity," Occasional Paper Series 340, European Central Bank.

  8. Bayer, Christian & Born, Benjamin & Luetticke, Ralph & Müller, Gernot, 2022. "The Coronavirus Stimulus Package: How large is the transfer multiplier?," CEPR Discussion Papers 14600, C.E.P.R. Discussion Papers.

    Cited by:

    1. Cardani, Roberta & Pfeiffer, Philipp & Ratto, Marco & Vogel, Lukas, 2023. "The COVID-19 recession on both sides of the Atlantic: A model-based comparison," European Economic Review, Elsevier, vol. 158(C).
    2. Michael Hüther, 2020. "Investitionen und Konsum: wirtschaftspolitische Handlungsoptionen zur Jahresmitte 2020 [Investment and Consumption: Economic Policy Options in Mid-2020]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 100(6), pages 422-428, June.
    3. Hinterlang, Natascha & Moyen, Stephane & Röhe, Oke & Stähler, Nikolai, 2023. "Gauging the effects of the German COVID-19 fiscal stimulus package," European Economic Review, Elsevier, vol. 154(C).
    4. Shiou‐Yen Chu, 2024. "The impact of the COVID‐19 pandemic on high‐skilled and low‐skilled labor markets in a DSGE model," Scottish Journal of Political Economy, Scottish Economic Society, vol. 71(1), pages 41-74, February.
    5. Giuseppe Ferrero & Massimiliano Pisani & Martino Tasso, 2022. "Policy Mix During a Pandemic Crisis: A Review of the Debate on Monetary and Fiscal Responses and the Legacy for the Future," Springer Proceedings in Business and Economics, in: Luigi Paganetto (ed.), Economic Challenges for Europe After the Pandemic, pages 267-320, Springer.
    6. Jérôme Creel & Mehdi El Herradi, 2020. "Income inequality and monetary policy in the Euro Area," SciencePo Working papers Main hal-03389183, HAL.
    7. Bole, Velimir & Prašnikar, Janez & Rop, Anton, 2023. "Support for those not affected: How macroeconomic policies have shaped COVID’s impact on sectoral activity," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 265-280.
    8. Fetzer, Thiemo, 2020. "Subsidizing the spread of COVID19 : Evidence from the UK’s Eat-Out to-Help-Out scheme," The Warwick Economics Research Paper Series (TWERPS) 1310, University of Warwick, Department of Economics.
    9. Yixiao Jiang & Kathryn D’Amato & Robert Winder & George Zestos, 2024. "Political Partisanship, COVID-19 Lockdown Policies, and Inflation Dynamics: Evidence from U.S. Metropolitan Areas," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 52(2), pages 79-92, September.
    10. Greg Kaplan & Benjamin Moll & Giovanni Violante, 2020. "The Great Lockdown and the Big Stimulus: Tracing the Pandemic Possibility Frontier for the U.S," Working Papers 2020-119, Becker Friedman Institute for Research In Economics.
    11. Aurélien Eyquem, 2020. "The Macroeconomic Effects of Lockdown policies," Post-Print halshs-02910895, HAL.
    12. Hausmann, Ricardo & Schetter, Ulrich, 2022. "Horrible trade-offs in a pandemic: Poverty, fiscal space, policy, and welfare," World Development, Elsevier, vol. 153(C).
    13. Antoine Mandel & Vipin Veetil, 2020. "The Economic Cost of COVID Lockdowns: An Out-of-Equilibrium Analysis," Post-Print halshs-03043350, HAL.
    14. Saroj Bhattarai & Jae Won Lee & Choongryul Yang, 2023. "Redistribution and the monetary‐fiscal policy mix," Quantitative Economics, Econometric Society, vol. 14(3), pages 817-853, July.
    15. Bui, Dzung & Dräger, Lena & Hayo, Bernd & Nghiem, Giang, 2021. "The Effects of Fiscal Policy on Households during the COVID-19 Pandemic: Evidence from Emerging Economies," Hannover Economic Papers (HEP) dp-685, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    16. Sørensen, Bent E & Nygaard, Vegard M. & Wang, Fan, 2020. "Optimal allocations to heterogeneous agents with an application to stimulus checks," CEPR Discussion Papers 15283, C.E.P.R. Discussion Papers.
    17. Stefan Hohberger, 2025. "Germany’s macroeconomic drivers during the pandemic and inflation surge," International Economics and Economic Policy, Springer, vol. 22(1), pages 1-49, February.
    18. Christopher D. Carroll & Edmund Crawley & Jiri Slacalek & Matthew N. White, 2020. "Modeling the Consumption Response to the CARES Act," NBER Working Papers 27876, National Bureau of Economic Research, Inc.
    19. Paula Bejarano Carbo, 2024. "The Nature of the Inflationary Surprise in Europe and the USA," National Institute of Economic and Social Research (NIESR) Discussion Papers 554, National Institute of Economic and Social Research.
    20. Alessandro Piergallini, 2024. "Fiscal Stimulus of Last Resort," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(6), pages 1479-1514, September.
    21. Brant Abbott & Nam Phan, 2022. "Should wages be subsidized in a pandemic?," Working Paper 1486, Economics Department, Queen's University.
    22. Selim Raihan & FNU Jonaed & Md. Tuhin Ahmed, 2024. "Impact of Stimulus Packages on Business Recovery During the COVID-19 Pandemic in Bangladesh," Journal of South Asian Development, , vol. 19(2), pages 169-198, August.
    23. Guettabi, Mouhcine & Witman, Allison, 2023. "Universal cash transfers and prescription utilization: Evidence from the Alaska permanent fund dividend," Journal of Health Economics, Elsevier, vol. 90(C).
    24. Graham, James & Ozbilgin, Murat, 2021. "Age, industry, and unemployment risk during a pandemic lockdown," Journal of Economic Dynamics and Control, Elsevier, vol. 133(C).
    25. Kim, Jihee & Lee, Susang, 2024. "Can stimulus checks to households save the local economy? The impact of South Korea’s COVID-19 stimulus on small business sales," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 159-176.
    26. Dunz, Nepomuk & Hrast Essenfelder, Arthur & Mazzocchetti, Andrea & Monasterolo, Irene & Raberto, Marco, 2023. "Compounding COVID-19 and climate risks: The interplay of banks’ lending and government’s policy in the shock recovery," Journal of Banking & Finance, Elsevier, vol. 152(C).
    27. Can, Ufuk & Can, Zeynep Gizem & Bocuoglu, Mehmet Emin & Dogru, Muhammed Erkam, 2021. "The effectiveness of the post-Covid-19 recovery policies: Evidence from a simulated DSGE model for Turkey," Economic Analysis and Policy, Elsevier, vol. 71(C), pages 694-708.
    28. Scott R. Baker & Robert A Farrokhnia & Steffen Meyer & Michaela Pagel & Constantine Yannelis, 2023. "Income, Liquidity, and the Consumption Response to the 2020 Economic Stimulus Payments," Review of Finance, European Finance Association, vol. 27(6), pages 2271-2304.
    29. Ostry, Jonathan D. & Furceri, Davide & Ganslmeier, Michael & Yang, Naihan, 2021. "Initial Output Losses from the Covid-19 Pandemic: Robust Determinants," CEPR Discussion Papers 15892, C.E.P.R. Discussion Papers.
    30. Mr. Tidiane Kinda & Andras Lengyel & Kaustubh Chahande, 2022. "Fiscal Multipliers During Pandemics," IMF Working Papers 2022/149, International Monetary Fund.
    31. Kopiec, Paweł, 2024. "The aggregate and distributional effects of fiscal stimuli," Economic Modelling, Elsevier, vol. 134(C).
    32. Christian Keuschnigg & Julian Johs & Jacob Stevens, 2021. "Consolidating the Covid Debt," CESifo Working Paper Series 9497, CESifo.
    33. Kudlyak, Marianna & Faia, Ester & Shabalina, Ekaterina, 2021. "Dynamic Labor Reallocation with Heterogeneous Skills and Uninsured Idiosyncratic Risk," CEPR Discussion Papers 16008, C.E.P.R. Discussion Papers.
    34. Deiana, Claudio & Geraci, Andrea & Mazzarella, Gianluca & Sabatini, Fabio, 2021. "COVID-19 Relief Programs and Compliance with Confinement Measures," IZA Discussion Papers 14064, Institute of Labor Economics (IZA).
    35. Claudio Deiana & Andrea Geraci & Gianluca Mazzarella & Fabio Sabatini, 2021. "Can relief measures nudge compliance in a public health crisis? Evidence from a kinked fiscal policy rule," Working Papers in Public Economics 214, Department of Economics and Law, Sapienza University of Roma.
    36. Faria-e-Castro, Miguel, 2021. "Fiscal policy during a pandemic," Journal of Economic Dynamics and Control, Elsevier, vol. 125(C).
    37. Müller, Gernot & Dietrich, Alexander & Kuester, Keith & Schoenle, Raphael, 2021. "News and uncertainty about COVID-19: Survey evidence and short-run economic impact," CEPR Discussion Papers 16766, C.E.P.R. Discussion Papers.
    38. Julie Ann Q. Basconcillo, 2023. "A nexus between fiscal policy and inflation: a case study of Indonesia using SVAR model," Public Sector Economics, Institute of Public Finance, vol. 47(4), pages 477-503.
    39. Hiona Balfoussia & Heather D. Gibson & Dimitris Malliaropulos & Dimitris Papageorgiou, 2020. "The economic impact of pandemics: real and financial transmission channels," Working Papers 283, Bank of Greece.
    40. Bence Bardóczy & Jae W. Sim & Andreas Tischbirek, 2024. "The Macroeconomic Effects of Excess Savings," Finance and Economics Discussion Series 2024-062, Board of Governors of the Federal Reserve System (U.S.).
    41. Bui, Dzung & Dräger, Lena & Hayo, Bernd & Nghiem, Giang, 2021. "The Effects of Fiscal Policy on Households during the COVID-19 Pandemic," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242464, Verein für Socialpolitik / German Economic Association.
    42. William Gamber & James Graham & Anirudh Yadav, 2021. "Stuck at home: Housing demand during the COVID- 19 pandemic," CAMA Working Papers 2021-97, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    43. Philipp Pfeiffer & Werner Roeger & Jan in ’t Veld, 2020. "The COVID19-Pandemic in the EU: Macroeconomic Transmission and Economic Policy Response," European Economy - Discussion Papers 127, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    44. Alessandro Di Nola & Leo Kaas & Haomin Wang, 2022. "Rescue Policies for Small Businesses in the Covid-19 Recession," CESifo Working Paper Series 9641, CESifo.
    45. McQuinn, Kieran & Varthalitis, Petros, 2020. "Debt sharing after Covid-19: How the direct involvement of EU institutions could impact the recovery path of a member state," Papers WP663, Economic and Social Research Institute (ESRI).
    46. Bui, Dzung & Dräger, Lena & Hayo, Bernd & Nghiem, Giang, 2022. "The effects of fiscal policy on households during the COVID-19 pandemic: Evidence from Thailand and Vietnam," World Development, Elsevier, vol. 153(C).
    47. Alessandro Di Nola & Leo Kaas & Haomin Wang, 2023. "Online Appendix to "Rescue policies for small businesses in the Covid-19 recession"," Online Appendices 22-55, Review of Economic Dynamics.
    48. Hackethal, Andreas & Weber, Annika, 2020. "Fiscal policies and household consumption during the COVID-19 pandemic: A review of early evidence," SAFE White Paper Series 76, Leibniz Institute for Financial Research SAFE.
    49. Funke, Michael & Terasa, Raphael, 2022. "Has Germany’s temporary VAT rates cut as part of the COVID-19 fiscal stimulus boosted growth?," Journal of Policy Modeling, Elsevier, vol. 44(2), pages 450-473.
    50. Anand Chopra & Michael B. Devereux & Amartya Lahiri, 2022. "Pandemics through the lens of occupations," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(S1), pages 540-580, February.
    51. Wei Dong & Geoffrey Dunbar & Christian Friedrich & Dmitry Matveev & Romanos Priftis & Lin Shao, 2021. "Complementarities Between Fiscal Policy and Monetary Policy—Literature Review," Discussion Papers 2021-4, Bank of Canada.
    52. Evi Pappa & Andrey Ramos & Eugenia Vella, 2024. "Which Crisis Support Fiscal Measures Worked During the Covid-19 Shock in Europe?," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 15(4), pages 327-348, December.
    53. Emanuele Colombo Azimonti & Luca Portoghese & Patrizio Tirelli, 2022. "Covid-19 supply-side fiscal policies to escape the health-vs-economy dilemma," DEM Working Papers Series 208, University of Pavia, Department of Economics and Management.
    54. Matthias Meier & Eugenio Pinto, 2020. "COVID-19 Supply Chain Disruptions," CRC TR 224 Discussion Paper Series crctr224_2020_239, University of Bonn and University of Mannheim, Germany.
    55. Bańnkowska, Katarzyna & Borlescu, Ana Maria & Charalambakis, Evangelos & Da Silva, António Dias & Di Laurea, Davide & Dossche, Maarten & Georgarakos, Dimitris & Honkkila, Juha & Kennedy, Neale & Kenny, 2021. "ECB Consumer Expectations Survey: an overview and first evaluation," Occasional Paper Series 287, European Central Bank.
    56. Hüther, Michael, 2020. "Investitionen und Konsum: Überlegungen zu wirtschaftspolitischen Handlungsoptionen zur Jahresmitte 2020," IW policy papers 13/2020, Institut der deutschen Wirtschaft (IW) / German Economic Institute.
    57. Kurt Kratena, 2022. "Supply constraints in a heterogenous agents household demand model: a method for assessing the direct impact of the COVID lockdown," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 49(1), pages 71-97, February.
    58. Consolo, Agostino & Hänsel, Matthias, 2024. "HANK faces unemployment," Working Paper Series 2953, European Central Bank.
    59. Bartal, Mehdi & Becard, Yvan, 2024. "Consumption tax cuts vs stimulus payments," Journal of Public Economics, Elsevier, vol. 239(C).
    60. Theologos Dergiades & Costas Milas & Theodore Panagiotidis, 2022. "Unemployment Claims During COVID-19 and Economic Support Measures in the U.S," Working Paper series 22-07, Rimini Centre for Economic Analysis.
    61. Charles Goodhart & Donato Masciandaro & Stefano Ugolini, 2022. "Pandemic Recession and Helicopter Money: Venice, 1629--1631," Papers 2201.07181, arXiv.org.
    62. Luca Portoghese & Patrizio Tirelli, 2024. "Getting ready for the next pandemic: supply- side policies to escape the health-vs-economy dilemma," DEM Working Papers Series 219, University of Pavia, Department of Economics and Management.
    63. Anna Bartocci & Alessandro Notarpietro & Massimiliano Pisani, 2022. "Covid-19 Shock and Fiscal-Monetary Policy Mix in a Monetary Union," Springer Proceedings in Business and Economics, in: Luigi Paganetto (ed.), Economic Challenges for Europe After the Pandemic, pages 233-266, Springer.
    64. Kim, Wongi, 2021. "Macroeconomic effects of government transfer payments: Evidence from Korea," Economic Modelling, Elsevier, vol. 102(C).
    65. Hannah Magdalena Seidl & Fabian Seyrich, 2021. "Unconventional Fiscal Policy in HANK," Discussion Papers of DIW Berlin 1953, DIW Berlin, German Institute for Economic Research.
    66. Xingyuan Yao, 2021. "COVID-19 Pandemic and economic stimulus policy inequality: evidence from quasi-natural experiments," Working Papers 585, ECINEQ, Society for the Study of Economic Inequality.
    67. Michael Funke & Raphael Terasa, 2020. "Will Germany's Temporary VAT Tax Rates Cut as Part of the Covid-19 Fiscal Stimulus Package Boost Consumption and Growth?," CESifo Working Paper Series 8765, CESifo.
    68. Arigoni, Filippo & Breznikar, Miha & Lenarčič, Črt & Maletič, Matjaž, 2020. "Impact of fiscal measures in response to the COVID-19 pandemic on small-open economies: lessons from Slovenia," MPRA Paper 104474, University Library of Munich, Germany.
    69. Pongpitch Amatyakul & Panchanok Jumrustanasan & Pornchanok Tapkham, 2023. "What can 20 billion financial transactions tell us about the impacts of Covid-19 fiscal transfers?," BIS Working Papers 1130, Bank for International Settlements.
    70. Allen-Coghlan, Matthew & McQuinn, Kieran & Varthalitis, Petros, 2020. "Sovereign debt after COVID-19: How the involvement of the ECB can impact the recovery path of a Member State," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI).
    71. Sebastian Gechert & Christoph Paetz & Achim Truger, 2020. "Konjunkturpaket notwendig — Rückkehr zur Schuldenbremse nicht forcieren," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 100(7), pages 493-497, July.

  9. Müller, Gernot & Georgiadis, Georgios & Schumann, Ben, 2021. "Global Risk and the Dollar," CEPR Discussion Papers 16245, C.E.P.R. Discussion Papers.

    Cited by:

    1. Lastauskas, Povilas & Nguyen, Anh Dinh Minh, 2021. "Global impacts of US monetary policy uncertainty shocks," Working Paper Series 2513, European Central Bank.
    2. Lodge, David & Manu, Ana-Simona, 2019. "EME financial conditions: which global shocks matter?," Working Paper Series 2282, European Central Bank.
    3. Fisera, Boris & Workie Tiruneh, Menbere & Hojdan, David, 2021. "Currency depreciations in emerging economies: A blessing or a curse for external debt management?," International Economics, Elsevier, vol. 168(C), pages 132-165.
    4. Corsetti, Giancarlo & Kuester, Keith & Müller, Gernot J. & Schmidt, Sebastian, 2021. "The exchange rate insulation puzzle," Working Paper Series 2630, European Central Bank.
    5. Müller, Gernot & Georgiadis, Georgios & Schumann, Ben, 2021. "Global Risk and the Dollar," CEPR Discussion Papers 16245, C.E.P.R. Discussion Papers.
    6. Khalil, Makram & Strobel, Felix, 2021. "US trade policy and the US dollar," Discussion Papers 49/2021, Deutsche Bundesbank.
    7. Silvia Miranda-Agrippino & Tsvetelina Nenova, 2021. "A Tale of Two Global Monetary Policies," Discussion Papers 2117, Centre for Macroeconomics (CFM).
    8. Lodge, David & Manu, Ana-Simona & Van Robays, Ine, 2024. "China's footprint in global financial markets," BOFIT Discussion Papers 1/2024, Bank of Finland Institute for Emerging Economies (BOFIT).
    9. Fisera, Boris, 2024. "Exchange rates and the speed of economic recovery: The role of financial development," Economic Systems, Elsevier, vol. 48(1).
    10. Elias Hasler, 2025. "Assessing the Global Impact of EU Carbon Pricing: Economic and Climate Spillovers," Working Papers 2025-01, Faculty of Economics and Statistics, Universität Innsbruck.
    11. Aizenman, Joshua & Park, Donghyun & Qureshi, Irfan A. & Saadaoui, Jamel & Salah Uddin, Gazi, 2024. "The performance of emerging markets during the Fed’s easing and tightening cycles: A cross-country resilience analysis," Journal of International Money and Finance, Elsevier, vol. 148(C).
    12. Anastasiia Antonova & Mykhailo Matvieiev & Céline Poilly, 2024. "Supply Shocks in the Fog: The Role of Endogenous Uncertainty," AMSE Working Papers 2427, Aix-Marseille School of Economics, France.
    13. Gökhan Ider & Alexander Kriwoluzky & Frederik Kurcz & Ben Schumann, 2024. "Friend, Not Foe - Energy Prices and European Monetary Policy," Discussion Papers of DIW Berlin 2089, DIW Berlin, German Institute for Economic Research.
    14. Liu, Zhenhua & Wang, Yushu & Yuan, Xinting & Ding, Zhihua & Ji, Qiang, 2025. "Geopolitical risk and vulnerability of energy markets," Energy Economics, Elsevier, vol. 141(C).
    15. Max Breitenlechner & Martin Geiger & Mathias Klein, 2024. "The Fiscal Channel of Monetary Policy," Working Papers 2024-07, Faculty of Economics and Statistics, Universität Innsbruck.
    16. Bettendorf, Timo, 2025. "Disentangling supply-side and demand-side effects of uncertainty shocks on U.S. financial markets: Identification using prices of gold and oil," Discussion Papers 10/2025, Deutsche Bundesbank.

  10. Benjamin Born & Francesco D’Ascanio & Gernot J. Müller & Johannes Pfeifer, 2021. "Mr. Keynes Meets the Classics: Government Spending and the Real Exchange Rate," ifo Working Paper Series 352, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.

    Cited by:

    1. Anne Kathrin Funk & Daniel Kaufmann, 2020. "Do Sticky Wages Matter? New Evidence from Matched Firm-Survey and Register Data," KOF Working papers 20-480, KOF Swiss Economic Institute, ETH Zurich.
    2. Boysen-Hogrefe, Jens & Groll, Dominik & Hoffmann, Timo & Jannsen, Nils & Kooths, Stefan & Schröder, Christian, 2025. "Deutsche Wirtschaft im Sommer 2025: Talsohle erreicht, Erholungssignale verdichten sich [German Economy in Summer 2025: Signs of recovery as economy bottoms out]," Kieler Konjunkturberichte 125, Kiel Institute for the World Economy (IfW Kiel).
    3. Laurent Ferrara & Luca Metelli & Filippo Natoli & Daniele Siena, 2020. "Questioning the puzzle: Fiscal policy, exchange rate and inflation," Working papers 752, Banque de France.
    4. Hyeongwoo Kim & Shuwei Zhang, 2022. "Policy Coordination and the Effectiveness of Fiscal Stimulus," Auburn Economics Working Paper Series auwp2022-01, Department of Economics, Auburn University.
    5. Cloyne, James & Jordà , Òscar & Taylor, Alan M., 2023. "State-Dependent Local Projections: Understanding Impulse Response Heterogeneity," CEPR Discussion Papers 17903, C.E.P.R. Discussion Papers.
    6. Mamondi Victor Daniel & Oviedo Jorge & De la Rosa Adolfo, 2023. "El-Déficit-Fiscal-Deteriora-el-Tipo-de-Cambio-Real.-Evidencias-por-medio-de-un-modelo-de-EGDE-para-Argentina," Asociación Argentina de Economía Política: Working Papers 4666, Asociación Argentina de Economía Política.
    7. HSING, Yu, 2021. "Are The Predictions Of The Mundell-Fleming Model Applicable To Argentina?," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 21(1), pages 37-48.
    8. Benatti, Nicola & Groiss, Martin & Kelly, Petra & Lopez-Garcia, Paloma, 2024. "Environmental regulation and productivity growth in the euro area: Testing the porter hypothesis," Journal of Environmental Economics and Management, Elsevier, vol. 126(C).
    9. Yoon J. Jo & Sarah Zubairy, 2021. "State dependent government spending multipliers: Downward nominal wage rigidity and sources of business cycle fluctuations," Working Papers 20210127-001, Texas A&M University, Department of Economics.
    10. Ilzetzki, Ethan, 2025. "Guns and growth: The economic consequences of defense buildups," Kiel Report 2, Kiel Institute for the World Economy (IfW Kiel).
    11. Mr. Tidiane Kinda & Andras Lengyel & Kaustubh Chahande, 2022. "Fiscal Multipliers During Pandemics," IMF Working Papers 2022/149, International Monetary Fund.
    12. Lukasz Wiktor Olejnik, 2023. "Economic growth and military expenditure in the countries on NATOʼs Eastern flank in 1999–2021," Bank of Estonia Working Papers wp2023-2, Bank of Estonia, revised 09 May 2023.
    13. Kolasa, Marcin & Laséen, Stefan & Lindé, Jesper, 2025. "Unconventional Monetary Policies in Small Open Economies," Working Paper Series 450, Sveriges Riksbank (Central Bank of Sweden).
    14. Siming Liu, 2018. "Government Spending during Sudden Stop Crises," CAEPR Working Papers 2018-002, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    15. Ferrara, Laurent & Metelli, Luca & Natoli, Filippo & Siena, Daniele, 2021. "Questioning the puzzle: Fiscal policy, real exchange rate and inflation," Journal of International Economics, Elsevier, vol. 133(C).
    16. Naser Yenus Nuru & Hayelom Yrgaw Gereziher, 2021. "The impacts of public expenditure innovations on real exchange rate volatility in South Africa," WIDER Working Paper Series wp-2021-72, World Institute for Development Economic Research (UNU-WIDER).
    17. Ramona Tiganasu & Gabriela Carmen Pascariu & Dan Lupu, 2022. "Competitiveness, fiscal policy and corruption: evidence from Central and Eastern European countries," Oeconomia Copernicana, Institute of Economic Research, vol. 13(3), pages 667-698, September.
    18. Duque Gabriel, Ricardo & Klein, Mathias & Pesso, Ana Sofia, 2020. "The Effects of Government Spending in the Eurozone," Working Paper Series 400, Sveriges Riksbank (Central Bank of Sweden).
    19. Mario Di Serio & Matteo Fragetta & Emanuel Gasteiger & Giovanni Melina, 2024. "The Euro Area Government Spending Multiplier in Demand‐ and Supply‐Driven Recessions," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 86(6), pages 1342-1372, December.
    20. Wataru Hirata & Toshitaka Maruyama & Tomohide Mineyama, 2020. "Flattening of the Wage Phillips Curve and Downward Nominal Wage Rigidity: The Japanese Experience in the 2010s," Bank of Japan Working Paper Series 20-E-4, Bank of Japan.
    21. Haug, Alfred A. & Sznajderska, Anna, 2024. "Government spending multipliers: Is there a difference between government consumption and investment purchases?," Journal of Macroeconomics, Elsevier, vol. 79(C).
    22. Matthias Burgert & Philipp Pfeiffer & Werner Roeger, 2021. "Fiscal policy in a monetary union with downward nominal wage rigidity," Working Papers 2021-16, Swiss National Bank.
    23. García, Carlos J. & González, Wildo & Valenzuela, Gabriel, 2025. "The valuation of economic recovery: The case for investment-led fiscal spending policies in open economies," International Review of Economics & Finance, Elsevier, vol. 99(C).
    24. Gancho Ganchev & Ivan Todorov, 2021. "Taxation, government spending and economic growth: The case of Bulgaria," Journal of Tax Reform, Graduate School of Economics and Management, Ural Federal University, vol. 7(3), pages 255-266.
    25. Olejnik, Łukasz Wiktor, 2023. "Short-run multiplier effects of military expenditures in NATO's Eastern Flank countries in 1999–2021," Journal of Comparative Economics, Elsevier, vol. 51(4), pages 1344-1355.

  11. Wilhelm Kohler & Gernot Müller & Susanne Wellmann, 2021. "Risk Sharing in Currency Unions: The Migration Channel," CESifo Working Paper Series 8982, CESifo.

    Cited by:

    1. Arvai, Kai, 2024. "The political economy of currency unions," Journal of International Economics, Elsevier, vol. 152(C).
    2. Zhou, Cheng, 2025. "The impact of the belt and road initiative on international consumption risk sharing: A difference-in-differences analysis," International Economics, Elsevier, vol. 181(C).
    3. Markus Sihvonen, 2023. "Equity Home Bias in a Capital Market Union," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(4), pages 953-999, December.

  12. Giancarlo Corsetti & Keith Kuester & Gernot J. Müller & Sebastian Schmidt, 2021. "The Exchange Rate Insulation Puzzle," ECONtribute Discussion Papers Series 060, University of Bonn and University of Cologne, Germany.

    Cited by:

    1. Kuhelika De, 2025. "Asymmetric Shocks and the Role of Exchange Rate in Emerging Markets: Evidence from India," Open Economies Review, Springer, vol. 36(2), pages 607-649, April.
    2. Wellmann, Susanne, 2023. "The Phillips curve in the euro area: New evidence using country-level data," University of Tübingen Working Papers in Business and Economics 156, University of Tuebingen, Faculty of Economics and Social Sciences, School of Business and Economics.
    3. Dąbrowski, Marek A. & Papież, Monika & Śmiech, Sławomir, 2021. "Output volatility and exchange rates: New evidence from the updated de facto exchange rate regime classifications," MPRA Paper 107133, University Library of Munich, Germany.
    4. Müller, Gernot & Georgiadis, Georgios & Schumann, Ben, 2021. "Global Risk and the Dollar," CEPR Discussion Papers 16245, C.E.P.R. Discussion Papers.
    5. Hongyi Chen & Peter Tillmann, 2022. "Lockdown Spillovers," MAGKS Papers on Economics 202215, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    6. Pym Manopimoke & Nuwat Nookhwun & Jettawat Pattararangrong, 2024. "Exchange Rate in Emerging Markets: Shock Absorber or Source of Shock?," PIER Discussion Papers 220, Puey Ungphakorn Institute for Economic Research.
    7. Georgios Georgiadis & Gernot J. Müller & Ben Schumann, 2023. "Dollar Trinity and the Global Financial Cycle," Discussion Papers of DIW Berlin 2058, DIW Berlin, German Institute for Economic Research.
    8. Kai Arvai & Ricardo Duque Gabriel, 2024. "Gains from Commitment: The Case for Pegging the Exchange Rate," Working papers 974, Banque de France.
    9. Corbo, Vesna & Di Casola, Paola, 2022. "Drivers of consumer prices and exchange rates in small open economies," Journal of International Money and Finance, Elsevier, vol. 122(C).
    10. Di Casola, Paola & Stockhammar, Pär, 2021. "When domestic and foreign QE overlap: evidence from Sweden," Working Paper Series 404, Sveriges Riksbank (Central Bank of Sweden).
    11. Pierre Olivier Gourinchas, 2023. "International Macroeconomics: From the Great Financial Crisis to COVID-19, and Beyond," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 1-34, March.
    12. Chen, Hongyi & Tillmann, Peter, 2023. "Lockdown spillovers," Journal of International Money and Finance, Elsevier, vol. 137(C).
    13. Joseph Paul Chunga & Ping YU, 2024. "The impact of external shocks on volatility persistence and market efficiency of the foreign exchange rate regime: evidence from Malawi," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-14, December.
    14. Michele Ca’ Zorzi & Luca Dedola & Georgios Georgiadis & Marek Jarocinski & Livio Stracca & Georg Strasser, 2023. "Making Waves: Monetary Policy and Its Asymmetric Transmission in a Globalized World," International Journal of Central Banking, International Journal of Central Banking, vol. 19(2), pages 95-144, June.
    15. Aquilante, Tommaso & Di Pace, Federico & Masolo, Riccardo M., 2022. "Exchange-rate and news: Evidence from the COVID pandemic," Economics Letters, Elsevier, vol. 213(C).
    16. Arespa, Marta, 2024. "The exchange rate regime, a determinant of the degree of risk sharing between profits and wages," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 1910-1932.

  13. Born, Benjamin & Müller, Gernot & Pfeifer, Johannes, 2020. "Uncertainty shocks in currency unions," CEPR Discussion Papers 15579, C.E.P.R. Discussion Papers.

    Cited by:

    1. Kandoussi, Malak & Langot, François, 2020. "Uncertainty Shocks and Unemployment Dynamics," IZA Discussion Papers 13438, Institute of Labor Economics (IZA).
    2. Ambrocio, Gene, 2020. "Inflationary household uncertainty shocks," Bank of Finland Research Discussion Papers 5/2020, Bank of Finland.

  14. Alexander M. Dietrich & Keith Kuester & Gernot J. Müller & Raphael S. Schoenle, 2020. "News and uncertainty about COVID-19: Survey evidence and short-run economic impact," ECONtribute Policy Brief Series 004, University of Bonn and University of Cologne, Germany.

    Cited by:

    1. Alexander Bick & Adam Blandin, 2020. "The Labor Market Impact of a Pandemic: Validation and Application of a Do-It-Yourself CPS," Working Papers 2031, Federal Reserve Bank of Dallas.
    2. Barbaglia, Luca & Frattarolo, Lorenzo & Onorante, Luca & Pericoli, Filippo Maria & Ratto, Marco & Tiozzo Pezzoli, Luca, 2022. "Testing big data in a big crisis: Nowcasting under COVID-19," JRC Working Papers in Economics and Finance 2022-06, Joint Research Centre, European Commission.
    3. Coibion, Olivier & Gorodnichenko, Yuriy & Weber, Michael, 2020. "The Cost of the COVID-19 Crisis: Lockdowns, Macroeconomic Expectations, and Consumer Spending," IZA Discussion Papers 13224, Institute of Labor Economics (IZA).
    4. PINSHI, Christian P. & MALATA, Alain, 2020. "Canal d’incertitude de la COVID-19 : Quelles stratégies et tactiques pour la politique monétaire ? [COVID-19 Uncertainty Channel: What Strategies and Tactics for Monetary Policy?]," MPRA Paper 109313, University Library of Munich, Germany.
    5. Balcaen, Pieter & Buts, Caroline & Bois, Cind Du & Tkacheva, Olesya, 2023. "The effect of disinformation about COVID-19 on consumer confidence: Insights from a survey experiment," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 102(C).
    6. Coibion, Olivier & Gorodnichenko, Yuriy & Weber, Michael, 2020. "The Cost of the COVID-19 Crisis: Lockdowns, Macroeconomic Expectations, and Consumer Spending," Department of Economics, Working Paper Series qt4jn1x65h, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    7. Coibion, Olivier & Gorodnichenko, Yuriy & Weber, Michael, 2020. "Labor Markets During the COVID-19 Crisis: A Preliminary View," Department of Economics, Working Paper Series qt4cc4w1hg, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    8. Christian Bayer & Benjamin Born & Ralph Luetticke & Gernot J Müller, 2023. "The Coronavirus Stimulus Package: How Large is the Transfer Multiplier," The Economic Journal, Royal Economic Society, vol. 133(652), pages 1318-1347.
    9. Coibion, Olivier & Gorodnichenko, Yuriy & Weber, Michael, 2020. "The Cost of the COVID-19 Crisis: Lockdowns, Macroeconomic Expectations, and Consumer Spending," Department of Economics, Working Paper Series qt69b8w79w, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    10. Coibion, Olivier & Gorodnichenko, Yuriy & Weber, Michael, 2020. "The Cost of the COVID-19 Crisis: Lockdowns, Macroeconomic Expectations, and Consumer Spending," Department of Economics, Working Paper Series qt2w66q61b, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    11. Bracarense, Lílian dos Santos Fontes Pereira & Oliveira, Renata Lúcia Magalhães de, 2021. "Access to urban activities during the Covid-19 pandemic and impacts on urban mobility: The Brazilian context," Transport Policy, Elsevier, vol. 110(C), pages 98-111.
    12. Michael Weber & Yuriy Gorodnichenko & Olivier Coibion, 2022. "The Expected, Perceived, and Realized Inflation of U.S. Households before and during the COVID19 Pandemic," NBER Working Papers 29640, National Bureau of Economic Research, Inc.
    13. Gert Peersman & Joris Wauters, 2022. "Heterogeneous household responses to energy price shocks," Working Paper Research 416, National Bank of Belgium.
    14. Alexander Dietrich & Edward S. Knotek & Michael McMain & Kristian Ove R. Myrseth & Raphael Schoenle & Michael Weber, 2021. "Expected Post-Pandemic Consumption and Scarred Expectations from COVID-19," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2021(11), pages 1-8, April.
    15. Pablo Aguilar, 2021. "Consumption recovery in 2021: an analysis drawing on consumer expectations," Economic Bulletin, Banco de España, issue 3/2021.
    16. Sangyup Choi & Jeeyeon Phi, 2023. "Impact of Uncertainty Shocks on Income and Wealth Inequality," CAMA Working Papers 2023-33, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    17. Miescu, Mirela & Rossi, Raffaele, 2021. "COVID-19-induced shocks and uncertainty," European Economic Review, Elsevier, vol. 139(C).
    18. Coibion, Olivier & Gorodnichenko, Yuriy & Weber, Michael, 2022. "Does Policy Communication during COVID Work?," Department of Economics, Working Paper Series qt5wh5w14k, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    19. Dietrich, Alexander M. & Müller, Gernot J. & Schoenle, Raphael S., 2024. "Big news: Climate-disaster expectations and the business cycle," Journal of Economic Behavior & Organization, Elsevier, vol. 227(C).
    20. Giovanni Bonaccorsi & Francesco Scotti & Andrea Flori & Fabio Pammolli, 2023. "Balancing health and economic impacts from targeted pandemic restrictions," Journal of Evolutionary Economics, Springer, vol. 33(4), pages 1047-1083, September.
    21. Mario Amore & Orsola Garofalo & Victor Martin-Sanchez, 2022. "Dispositional optimism and business recovery during a pandemic," PLOS ONE, Public Library of Science, vol. 17(6), pages 1-16, June.
    22. Coibion, Olivier & Georgarakos, Dimitris & Gorodnichenko, Yuriy & Kenny, Geoff & Weber, Michael, 2021. "The effect of macroeconomic uncertainty on household spending," Working Paper Series 2557, European Central Bank.
    23. Faia, Ester & Fuster, Andreas & Pezone, Vincenzo & Zafar, Basit, 2021. "Biases in information selection and processing: Survey evidence from the pandemic," SAFE Working Paper Series 307, Leibniz Institute for Financial Research SAFE.
    24. Coibion, Olivier & Gorodnichenko, Yuriy & Weber, Michael, 2020. "The Cost of the Covid-19 Crisis: Lockdowns, Macroeconomic Expectations, and Consumer Spending," Department of Economics, Working Paper Series qt6m95b34x, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    25. Aissa Djedaiet & Hicham Ayad, "undated". "The double whammy of COVID-19 and oil price collapse: Spillover effects on inflation and exchange rates," Review of Socio - Economic Perspectives 202206, Reviewsep.
    26. Coibion, Olivier & Gorodnichenko, Yuriy & Weber, Michael, 2020. "Labor Markets during the COVID-19 Crisis: A Preliminary View," IZA Discussion Papers 13139, Institute of Labor Economics (IZA).
    27. Victor Martin-Sanchez & Christoph Albert & Andrea Caggese, 2022. "Income Inequality and Entrepreneurship: Lessons from the 2020 COVID-19 Recession," Working Papers 1377, Barcelona School of Economics.
    28. Brent H. Meyer & Brian Prescott & Xuguang Simon Sheng, 2020. "The Impact of the COVID-19 Pandemic on Business Expectations," Working Papers 2020-006, The George Washington University, The Center for Economic Research.
    29. Karaki, Mohamad B. & Rangaraju, Sandeep Kumar, 2023. "The confidence channel of U.S. financial uncertainty: Evidence from industry-level data," Economic Modelling, Elsevier, vol. 129(C).
    30. Katharina Allinger & Fabio Rumler, 2023. "Inflation Expectations in CESEE: The Role of Sentiment and Experiences (Katharina Allinger, Fabio Rumler)," Working Papers 247, Oesterreichische Nationalbank (Austrian Central Bank).
    31. Binder, Carola & Campbell, Jeffrey & Ryngaert, Jane M., 2024. "Consumer Inflation Expectations: Daily Dynamics," CEPR Discussion Papers 19011, C.E.P.R. Discussion Papers.
    32. Szczygielski, Jan Jakub & Charteris, Ailie & Obojska, Lidia & Brzeszczyński, Janusz, 2024. "Capturing the timing of crisis evolution: A machine learning and directional wavelet coherence approach to isolating event-specific uncertainty using Google searches with an application to COVID-19," Technological Forecasting and Social Change, Elsevier, vol. 205(C).
    33. Armenak Antinyan & Thomas Bassetti & Luca Corazzini & Filippo Pavesi, 2020. "Trust in the Healthcare System and COVID-19 Treatment in the Developing World. Survey and Experimental Evidence from Armenia," Working Papers 2020:10, Department of Economics, University of Venice "Ca' Foscari".
    34. Lena Dräger & Michael J. Lamla, 2024. "Consumers' macroeconomic expectations," Journal of Economic Surveys, Wiley Blackwell, vol. 38(2), pages 427-451, April.
    35. Armantier, Olivier & Koşar, Gizem & Pomerantz, Rachel & Skandalis, Daphné & Smith, Kyle & Topa, Giorgio & van der Klaauw, Wilbert, 2021. "How economic crises affect inflation beliefs: Evidence from the Covid-19 pandemic," Journal of Economic Behavior & Organization, Elsevier, vol. 189(C), pages 443-469.
    36. Coibion, Olivier & Gorodnichenko, Yuriy & Weber, Michael, 2020. "Does Policy Communication During Covid Work?," Department of Economics, Working Paper Series qt7t8237jb, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    37. Coibion, Olivier & Gorodnichenko, Yuriy & Weber, Michael, 2020. "Does Policy Communication During COVID Work?," Department of Economics, Working Paper Series qt19b8p8g1, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    38. Olivier Coibion & Yuriy Gorodnichenko & Michael Weber, 2020. "Does Policy Communication During Covid Work?," NBER Working Papers 27384, National Bureau of Economic Research, Inc.
    39. Antoine Cornevin, 2025. "Geopolitical Risks and Economic Expectations: The Role of Trade Linkages," IHEID Working Papers 11-2025, Economics Section, The Graduate Institute of International Studies.
    40. Ambrocio, Gene & Hasan, Iftekhar, 2022. "Belief polarization and Covid-19," Bank of Finland Research Discussion Papers 10/2022, Bank of Finland.
    41. Coleman, Winnie & Nautz, Dieter, 2021. "Inflation expectations, inflation target credibility and the COVID-19 pandemic: New evidence from Germany," Discussion Papers 2021/12, Free University Berlin, School of Business & Economics.
    42. Zhao, Kai & Mo, Minjie & Shen, Jun, 2024. "Pandemics and FDI inflows: The role of infrastructures," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 552-566.
    43. Masayuki MORIKAWA, 2022. "Uncertainty of Firms' Medium-term Outlook during the COVID-19 Pandemic," Discussion papers 22079, Research Institute of Economy, Trade and Industry (RIETI).
    44. Ewa Stanisławska & Maritta Paloviita, 2021. "Medium- vs. short-term consumer inflation expectations: evidence from a new euro area survey," NBP Working Papers 338, Narodowy Bank Polski.
    45. Tomás Gómez Rodríguez & Humberto Ríos Bolívar & Adriana Zambrano Reyes, 2021. "Volatilidad y COVID-19: evidencia empírica internacional," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 16(3), pages 1-20, Julio - S.
    46. Coleman, Winnie & Nautz, Dieter, 2022. "Inflation target credibility in times of high inflation," Discussion Papers 2022/5, Free University Berlin, School of Business & Economics.
    47. Pengpeng Yue & Aslihan Gizem Korkmaz & Zhichao Yin & Haigang Zhou, 2021. "Household-owned Businesses’ Vulnerability to the COVID-19 Pandemic," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 57(6), pages 1662-1674, May.
    48. Coibion, Olivier & Gorodnichenko, Yuriy & Weber, Michael, 2020. "Labor Markets During the Covid-19 Crisis: A Preliminary View," Department of Economics, Working Paper Series qt9ms1v2hp, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    49. Coibion, O & Gorodnichenko, Y & Weber, M, 2022. "Does Policy Communication during COVID Work?," Department of Economics, Working Paper Series qt0zp1944k, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    50. Huang, Bin & Wang, Bin & Chen, Zixuan, 2024. "Individual investment adaptations to COVID-19 lockdowns," The North American Journal of Economics and Finance, Elsevier, vol. 70(C).
    51. Albuquerque, Bruno & Green, Georgina, 2023. "Financial concerns and the marginal propensity to consume in COVID times: Evidence from UK survey data," Journal of Macroeconomics, Elsevier, vol. 78(C).
    52. Stefan Schiman & Atanas Pekanov, 2020. "Uncertainty in the Euro Area During the First Wave of the COVID-19 Pandemic," WIFO Studies, WIFO, number 66708, October.
    53. Coibion, Olivier & Gorodnichenko, Yuriy & Weber, Michael, 2020. "Labor Markets During the Covid-19 Crisis: A Preliminary View," Department of Economics, Working Paper Series qt7rx7t91p, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    54. David Finck & Peter Tillmann, 2022. "Pandemic Shocks and Household Spending," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(2), pages 273-299, April.
    55. Dietrich, Alexander & Müller, Gernot & Schoenle, Raphael, 2022. "The Expectations Channel of Climate Change: Implications for Monetary Policy," CEPR Discussion Papers 15866, C.E.P.R. Discussion Papers.
    56. Willem THORBECKE, 2023. "The Impact of Monetary Policy on the U.S. Stock Market since the Pandemic," Discussion papers 23054, Research Institute of Economy, Trade and Industry (RIETI).
    57. Massil, Joseph Keneck & Tadadjeu, Sosson & Yogo, Urbain Thierry, 2025. "Uncertainty and household consumption in developing countries," Structural Change and Economic Dynamics, Elsevier, vol. 73(C), pages 51-64.
    58. Johannes Blum & Martin Mosler & Niklas Potrafke & Fabian Ruthardt, 2020. "Ökonomenpanel: Wie bewerten Ökonom*innen die wirtschaftspolitischen Reaktionen auf die Coronakrise?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(04), pages 48-51, April.

  15. Born, Benjamin & Dietrich, Alexander & Müller, Gernot, 2020. "The lockdown effect: A counterfactual for Sweden," CEPR Discussion Papers 14744, C.E.P.R. Discussion Papers.

    Cited by:

    1. Hinterlang, Natascha & Moyen, Stephane & Röhe, Oke & Stähler, Nikolai, 2023. "Gauging the effects of the German COVID-19 fiscal stimulus package," European Economic Review, Elsevier, vol. 154(C).
    2. Bartscher, Alina Kristin & Seitz, Sebastian & Slotwinski, Michaela & Wehrhöfer, Nils & Siegloch, Sebastian, 2020. "Social capital and the spread of Covid-19: Insights from European countries," ZEW Discussion Papers 20-023, ZEW - Leibniz Centre for European Economic Research.
    3. Dovern, Jonas & Frank, Johannes & Glas, Alexander & Müller, Lena Sophia & Perico Ortiz, Daniel, 2023. "Estimating pass-through rates for the 2022 tax reduction on fuel prices in Germany," Energy Economics, Elsevier, vol. 126(C).
    4. Vincenzo Alfano & Salvatore Ercolano & Lorenzo Cicatiello, 2020. "A Synthetic Control Method Analysis of Schools Opening and Covid-19 Outbreak in Italy," CESifo Working Paper Series 8784, CESifo.
    5. Klyver, Kim & Nielsen, Suna Løwe, 2021. "Which crisis strategies are (expectedly) effective among SMEs during COVID-19?," Journal of Business Venturing Insights, Elsevier, vol. 16(C).
    6. Kristina Gligorić & Arnaud Chiolero & Emre Kıcıman & Ryen W. White & Robert West, 2022. "Population-scale dietary interests during the COVID-19 pandemic," Nature Communications, Nature, vol. 13(1), pages 1-14, December.
    7. Mike Tsionas & Mikael A. Martins & Almas Heshmati, 2023. "Effects of the vaccination and public support on covid-19 cases and number of deaths in Sweden," Operational Research, Springer, vol. 23(3), pages 1-28, September.
    8. Kim, Dongwoo & Lee, Young Jun, 2022. "Vaccination strategies and transmission of COVID-19: Evidence across advanced countries," Journal of Health Economics, Elsevier, vol. 82(C).
    9. Roy Cerqueti & Raffaella Coppier & Alessandro Girardi & Marco Ventura, 2022. "The sooner the better: lives saved by the lockdown during the COVID-19 outbreak. The case of Italy," The Econometrics Journal, Royal Economic Society, vol. 25(1), pages 46-70.
    10. Chiara Latour & Franco Peracchi & Giancarlo Spagnolo, 2021. "Assessing Alternative Indicators for Covid-19 Policy Evaluation, with a Counterfactual for Sweden," EIEF Working Papers Series 2107, Einaudi Institute for Economics and Finance (EIEF), revised Apr 2021.
    11. Bibek Adhikari, 2022. "A Guide to Using the Synthetic Control Method to Quantify the Effects of Shocks, Policies, and Shocking Policies," The American Economist, Sage Publications, vol. 67(1), pages 46-63, March.
    12. Bardey, David & Fernandez, Manuel & Gravel, Alexis, 2021. "Coronavirus and Social Distancing: Do Non-Pharmaceutical-Interventions Work (at least) in the Short Run?," TSE Working Papers 21-1189, Toulouse School of Economics (TSE).
    13. Michael König & Adalbert Winkler, 2021. "COVID-19: Lockdowns, Fatality Rates and GDP Growth," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 56(1), pages 32-39, January.
    14. Harvey, A. C., 2021. "Time series modeling of epidemics: leading indicators, control groups and policy assessment," Cambridge Working Papers in Economics 2114, Faculty of Economics, University of Cambridge.
    15. Hensvik, Lena & Le Barbanchon, Thomas & Rathelot, Roland, 2020. "Job Search during the COVID-19 Crisis," IZA Discussion Papers 13237, Institute of Labor Economics (IZA).
    16. Michael König & Adalbert Winkler, 2020. "COVID-19 and Economic Growth: Does Good Government Performance Pay Off?," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 55(4), pages 224-231, July.
    17. Oum, Tae Hoon & Wang, Kun, 2020. "Socially optimal lockdown and travel restrictions for fighting communicable virus including COVID-19," Transport Policy, Elsevier, vol. 96(C), pages 94-100.
    18. Gabriele Ciminelli & Sílvia Garcia‐Mandicó, 2022. "When and how do business shutdowns work? Evidence from Italy's first COVID‐19 wave," Health Economics, John Wiley & Sons, Ltd., vol. 31(9), pages 1823-1843, September.
    19. Panizza, Ugo & Caselli, Francesca & Faralli, Matilde & Manasse, Paolo, 2021. "On the Benefits of Repaying," CEPR Discussion Papers 16539, C.E.P.R. Discussion Papers.
    20. Josefine Hansson & Bodil J Landstad & Stig Vinberg & Marianne Hedlund & Åsa Tjulin, 2022. "Small business managers and Covid-19—The role of a sense of coherence and general resistance resources in coping with stressors," PLOS ONE, Public Library of Science, vol. 17(3), pages 1-16, March.
    21. Steffen Juranek & Jörg Paetzold & Hannes Winner & Floris Zoutman, 2021. "Labor market effects of COVID‐19 in Sweden and its neighbors: Evidence from administrative data," Kyklos, Wiley Blackwell, vol. 74(4), pages 512-526, November.
    22. Enerelt Murakami, 2022. "Immediate impacts of the COVID-19 pandemic on household economic activities and food security in Tajikistan," Economics of Disasters and Climate Change, Springer, vol. 6(2), pages 259-291, July.
    23. Kazufumi Tsuboi & Naoya Fujiwara & Ryo Itoh, 2022. "Influence of trip distance and population density on intra-city mobility patterns in Tokyo during COVID-19 pandemic," Papers 2201.01398, arXiv.org.
    24. Andrea Aspri & Elena Beretta & Alberto Gandolfi & Etienne Wasmer, 2021. "Mortality containment vs. Economics Opening: Optimal policies in a SEIARD model," Post-Print hal-03950294, HAL.
    25. Heinrich Zozmann & Lennart Schüler & Xiaoming Fu & Erik Gawel, 2024. "Autonomous and policy-induced behavior change during the COVID-19 pandemic: Towards understanding and modeling the interplay of behavioral adaptation," PLOS ONE, Public Library of Science, vol. 19(5), pages 1-30, May.
    26. Malo, Miguel, 2020. "Una reflexión sobre las primeras respuestas de política al impacto del Covid-19 sobre el empleo [A reflection on the first mitigating policies of the impact of Covid-19 on employment]," MPRA Paper 104390, University Library of Munich, Germany.
    27. Chen, Hongyi & Tillmann, Peter, 2023. "Lockdown spillovers," Journal of International Money and Finance, Elsevier, vol. 137(C).
    28. Darcy W. E. Allen & Chris Berg & Sinclair Davidson & Jason Potts, 2022. "On Coase and COVID-19," European Journal of Law and Economics, Springer, vol. 54(1), pages 107-125, August.
    29. Apel, Johannes & Rohde, Niklas & Marcus, Jan, 2023. "The effect of a nighttime curfew on the spread of COVID-19," Health Policy, Elsevier, vol. 129(C).
    30. Paweł Niewiadomski & Marta Ortega-Ortega & Błażej Łyszczarz, 2025. "Productivity Losses due to Health Problems Arising from COVID-19 Pandemic: A Systematic Review of Population-Level Studies Worldwide," Applied Health Economics and Health Policy, Springer, vol. 23(2), pages 231-251, March.
    31. Schippers, M.C., 2020. "For the Greater Good? The Devastating Ripple Effects of the Lockdown Measures," ERIM Report Series Research in Management ERS-2020-004-LIS, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    32. Obst, Thomas & Schläger, Dan, 2021. "Cost-benefit considerations of lockdowns: What are we missing?," IW-Kurzberichte 33/2021e, Institut der deutschen Wirtschaft (IW) / German Economic Institute.
    33. Jaqueline Hansen & Antonia Reinecke & Hans-Jörg Schmerer, 2021. "Health Expenditures and the Effectiveness of Covid-19 Prevention in International Comparison," CESifo Working Paper Series 9069, CESifo.
    34. Eiji Yamamura & Youki Koska & Yoshiro Tsutsui & Fumio Ohtake, 2022. "Effect of the COVID-19 vaccine on preventive behaviors: Evidence from Japan," Papers 2203.07660, arXiv.org.
    35. Gaggero, Alessio & Mesa-Pedrazas, Ángela & Fernández-Pérez, Ángel, 2024. "Shutting down to save lives: A regression discontinuity analysis of non-essential business closure," Socio-Economic Planning Sciences, Elsevier, vol. 94(C).
    36. Alfano, Vincenzo & Ercolano, Salvatore & Cicatiello, Lorenzo, 2021. "School openings and the COVID-19 outbreak in Italy. A provincial-level analysis using the synthetic control method," Health Policy, Elsevier, vol. 125(9), pages 1200-1207.
    37. Emily Ying Yang Chan & Jean H. Kim & Kin-on Kwok & Zhe Huang & Kevin Kei Ching Hung & Eliza Lai Yi Wong & Eric Kam Pui Lee & Samuel Yeung Shan Wong, 2021. "Population Adherence to Infection Control Behaviors during Hong Kong’s First and Third COVID-19 Waves: A Serial Cross-Sectional Study," IJERPH, MDPI, vol. 18(21), pages 1-17, October.
    38. Karolina Drela & Agnieszka Malkowska & Anna Bera & Anna Tokarz-Kocik, 2021. "Instruments for Managing the EU Labour Market in the Face of the COVID-19 Crisis," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 984-998.

  16. Benjamin Born & Gernot Müller & Johannes Pfeifer & Susanne Wellmann, 2020. "Different No More: Country Spreads in Advanced and Emerging Economies," CESifo Working Paper Series 8083, CESifo.

    Cited by:

    1. Silvia Marchesi & Tania Masi & Pietro Bomprezzi, 2021. "Is to Forgive to Forget? Sovereign Risk in the Aftermath of a Default," Development Working Papers 475, Centro Studi Luca d'Agliano, University of Milano.
    2. Demosthenes Ioannou & Maria Sole Pagliari & Livio Stracca, 2020. "The international dimension of a fragile EMU," Working papers 795, Banque de France.
    3. Silvia Marchesi & Tania Masi & Pietro Bomprezzi, 2024. "Is to Forgive to Forget? Sovereign Risk in the Aftermath of Private or Official Debt Restructurings," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(1), pages 292-334, March.
    4. Gabriel, Ricardo Duque & Klein, Mathias & Pessoa, Sofia, 2022. "The Political Costs of Austerity," Working Paper Series 418, Sveriges Riksbank (Central Bank of Sweden).
    5. Oliver Hülsewig & Horst Rottmann, 2020. "Euro Area Periphery Countries' Fiscal Policy and Monetary Policy Surprises," CESifo Working Paper Series 8041, CESifo.
    6. Li, Xiang, 2021. "Dilemma and global financial cycle: Evidence from capital account liberalisation episodes," IWH Discussion Papers 13/2021, Halle Institute for Economic Research (IWH).
    7. Hristov, Nikolay & Hülsewig, Oliver & Kolb, Benedikt, 2024. "Macroprudential capital regulation and fiscal balances in the euro area," Journal of International Money and Finance, Elsevier, vol. 143(C).
    8. Li, Xiang & Su, Dan, 2022. "Surges and instability: The maturity shortening channel," Journal of International Economics, Elsevier, vol. 139(C).
    9. Andrea Bacchiocchi & Alessandro Bellocchi & Gian Italo Bischi & Giuseppe Travaglini, 2024. "A non-linear model of public debt with bonds and money finance," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 41(2), pages 457-498, July.
    10. Ioannou, Demosthenes & Pagliari, Maria Sole & Stracca, Livio, 2024. "The international impact of a fragile EMU," European Economic Review, Elsevier, vol. 161(C).
    11. Hartwig, Benny & Meinerding, Christoph & Schüler, Yves S., 2021. "Identifying indicators of systemic risk," Journal of International Economics, Elsevier, vol. 132(C).
    12. Ioannou, Demosthenes & Stracca, Livio & Pagliari, Maria Sole, 2020. "The international dimension of an incomplete EMU," Working Paper Series 2459, European Central Bank.

  17. Zeno Enders & Franziska Hünnekes & Gernot Müller, 2019. "Firm expectations and economic activity," CESifo Working Paper Series 7623, CESifo.

    Cited by:

    1. Dias Da Silva, António & Rusinova, Desislava & Weißler, Marco, 2023. "Consumption effects of job loss expectations: new evidence for the euro area," Working Paper Series 2817, European Central Bank.
    2. Brancati, Emanuele, 2023. "R&D plans, expectations, and uncertainty: Evidence from the COVID-19 shock in Italy," Structural Change and Economic Dynamics, Elsevier, vol. 67(C), pages 303-318.
    3. Benjamin Born & Zeno Enders & Manuel Menkhoff & Gernot J. Müller & Knut Niemann, 2023. "Firm Expectations and News: Micro v Macro," ifo Working Paper Series 400, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    4. Anja Kukuvec & Harald Oberhofer, 2020. "The Propagation of Business Expectations within the European Union," CESifo Working Paper Series 8198, CESifo.
    5. Link, Sebastian & Peichl, Andreas & Roth, Christopher & Wohlfart, Johannes, 2023. "Information frictions among firms and households," Journal of Monetary Economics, Elsevier, vol. 135(C), pages 99-115.
    6. Serafin Frache & Rodrigo Lluberas & Javier Turen, 2021. "Belief-Dependent Pricing Decisions," Documentos de Trabajo 564, Instituto de Economia. Pontificia Universidad Católica de Chile..
    7. Enders, Zeno & Hünnekes, Franziska & Müller, Gernot J., 2019. "Monetary policy announcements and expectations: Evidence from german firms," Journal of Monetary Economics, Elsevier, vol. 108(C), pages 45-63.
    8. Bachmann, Rüdiger, 2019. "Comments on “Monetary policy announcements and expectations: Evidence from German firms”," Journal of Monetary Economics, Elsevier, vol. 108(C), pages 64-68.
    9. Dietrich, Alexander M. & Müller, Gernot J. & Schoenle, Raphael S., 2024. "Big news: Climate-disaster expectations and the business cycle," Journal of Economic Behavior & Organization, Elsevier, vol. 227(C).
    10. Cheng CHEN & Chang SUN & Hongyong ZHANG, 2019. "Learning and Information Transmission within Multinational Corporations," Discussion papers 19053, Research Institute of Economy, Trade and Industry (RIETI).
    11. Alexandros Botsis & Christoph Gortz & Plutarchos Sakellaris, 2023. "Quantifying Qualitative Survey Data: New Insights on the (Ir)Rationality of Firms' Forecasts," Discussion Papers 23-06, Department of Economics, University of Birmingham.
    12. Cheng CHEN & Tatsuro SENGA & Chang SUN & Hongyong ZHANG, 2018. "Uncertainty, Imperfect Information, and Expectation Formation over the Firm's Life Cycle," Discussion papers 18010, Research Institute of Economy, Trade and Industry (RIETI).
    13. Nöller, Marvin & Balleer, Almut, 2023. "Monetary Policy in the Presence of Supply Constraints: Evidence from German Firm-level Data," VfS Annual Conference 2023 (Regensburg): Growth and the "sociale Frage" 277638, Verein für Socialpolitik / German Economic Association.
    14. Balduzzi, Pierluigi & Brancati, Emanuele & Brianti, Marco & Schiantarelli, Fabio, 2024. "Credit constraints and firms’ decisions: Lessons from the COVID-19 outbreak," Journal of Monetary Economics, Elsevier, vol. 142(C).
    15. Brancati, Emanuele & Di Maio, Michele & Rahman, Aminur, 2022. "Finance, Informal Competition, and Expectations: A Firm-Level Analysis," IZA Discussion Papers 15440, Institute of Labor Economics (IZA).
    16. Valentin Reich, 2024. "Machine Learning Based Linkage of Company Data for Economic Research: Application to the EBDC Business Panels," ifo Working Paper Series 409, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    17. Balleer, Almut & Noeller, Marvin, 2023. "Monetary policy in the presence of supply constraints: Evidence from German firm-level data," Ruhr Economic Papers 1060, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    18. Joel Suss & Adam Hughes, 2023. "Bank expectations and prudential outcomes," Bank of England working papers 1035, Bank of England.
    19. Angelico, Cristina, 2024. "The green transition and firms' expectations on future prices: Survey evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 221(C), pages 519-543.
    20. Stefan Sauer & Klaus Wohlrabe, 2024. "What Is Behind the ifo Business Climate? Evidence from a Meta-Survey," CESifo Working Paper Series 11482, CESifo.
    21. Luigi Bonatti, & Andrea Fracasso & Roberto Tamborini, 2021. "What to expect from inflation expectations: theory, empirics and policy issues," DEM Working Papers 2022/1, Department of Economics and Management.

  18. Müller, Gernot & Wolf, Martin & Hettig, Thomas, 2019. "Exchange Rate Undershooting: Evidence and Theory," CEPR Discussion Papers 13597, C.E.P.R. Discussion Papers.

    Cited by:

    1. Tushar, Wayes & Saha, Tapan Kumar & Yuen, Chau & Azim, M. Imran & Morstyn, Thomas & Poor, H. Vincent & Niyato, Dustin & Bean, Richard, 2020. "A coalition formation game framework for peer-to-peer energy trading," Applied Energy, Elsevier, vol. 261(C).
    2. Huber, Florian & Rabitsch, Katrin, 2019. "Exchange rate dynamics and monetary policy - Evidence from a non-linear DSGE-VAR approach," Department of Economics Working Paper Series 295, WU Vienna University of Economics and Business.
    3. Anne O'Brien & Susan Liddy, 2021. "The price of motherhood in the Irish film and television industries," Gender, Work and Organization, Wiley Blackwell, vol. 28(6), pages 1997-2009, November.
    4. Stephanie Schmitt-Grohé & Martín Uribe, 2018. "Exchange Rates and Uncovered Interest Differentials: The Role of Permanent Monetary Shocks," NBER Working Papers 25380, National Bureau of Economic Research, Inc.
    5. Zhang, Wei & Valencia, Andrea & Gu, Lixing & Zheng, Qipeng P. & Chang, Ni-Bin, 2020. "Integrating emerging and existing renewable energy technologies into a community-scale microgrid in an energy-water nexus for resilience improvement," Applied Energy, Elsevier, vol. 279(C).
    6. Jarociński, Marek, 2020. "Central bank information effects and transatlantic spillovers," Working Paper Series 2482, European Central Bank.
    7. Ahn, Jihye & Kim, Soyoung, 2021. "Delayed overshooting can still be a puzzle after the 1980s," Economics Letters, Elsevier, vol. 199(C).
    8. Schmitt-Grohé, Stephanie & Uribe, Martín, 2022. "The effects of permanent monetary shocks on exchange rates and uncovered interest rate differentials," Journal of International Economics, Elsevier, vol. 135(C).
    9. Franken, Jonas & Reinhold, Thomas & Reichert, Lilian & Reuter, Christian, 2022. "The digital divide in state vulnerability to submarine communications cable failure," International Journal of Critical Infrastructure Protection, Elsevier, vol. 38(C).
    10. Rüth, Sebastian K., 2020. "Shifts in monetary policy and exchange rate dynamics: Is Dornbusch's overshooting hypothesis intact, after all?," Journal of International Economics, Elsevier, vol. 126(C).
    11. Gouhari, Saeeda & Forrest, Alan & Roberts, Michaela, 2021. "Cost-effectiveness analysis of forest ecosystem services in mountain areas in Afghanistan," Land Use Policy, Elsevier, vol. 108(C).

  19. Müller, Gernot & Born, Benjamin & Schularick, Moritz & SedlÃ¡Ä ek, Petr, 2019. "The macroeconomic impact of Trump," CEPR Discussion Papers 13798, C.E.P.R. Discussion Papers.

    Cited by:

    1. Michal Brzezinski & Katarzyna Sałach‐Dróżdż, 2024. "The short‐term macroeconomic impact of populism: A case study of Poland," Economics and Politics, Wiley Blackwell, vol. 36(2), pages 832-867, July.
    2. Sergei Guriev, 2020. "Labor market performance and the rise of populism," SciencePo Working papers Main hal-03916233, HAL.
    3. Ana Venâncio & João Pereira dos Santos, 2021. "The effect of Brexit on British workers living in the EU," Working Papers REM 2021/0197, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    4. Manuel Funke & Moritz Schularick & Christoph Trebesch, 2023. "Populist Leaders and the Economy," American Economic Review, American Economic Association, vol. 113(12), pages 3249-3288, December.
    5. Bibek Adhikari, 2022. "A Guide to Using the Synthetic Control Method to Quantify the Effects of Shocks, Policies, and Shocking Policies," The American Economist, Sage Publications, vol. 67(1), pages 46-63, March.
    6. Fetzer, Thiemo & Yotzov, Ivan, 2023. "(How) Do electoral surprises drive business cycles? Evidence from a new dataset," CAGE Online Working Paper Series 672, Competitive Advantage in the Global Economy (CAGE).
    7. Di Tommaso, Marco Rodolfo & Prodi, Elena & Di Matteo, Dante & Barbieri, Elisa, 2025. "Structural change and its discontents," Structural Change and Economic Dynamics, Elsevier, vol. 72(C), pages 438-455.
    8. Sergei Guriev & Elias Papaioannou, 2022. "The Political Economy of Populism," Post-Print hal-03874305, HAL.
    9. Gabriel, Ricardo Duque & Pessoa, Ana Sofia, 2020. "Adopting the Euro: a synthetic control approach," MPRA Paper 99391, University Library of Munich, Germany.
    10. Andreas Brunhart & Martin Geiger, 2025. "Sectoral effects of exchange rate shocks: goods exports and the appreciation of the Swiss Franc in 2015," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 161(1), pages 1-25, December.
    11. Wysocki, Maciej & Wojcik, Cezary & Freytag, Andreas, 2024. "Populists and fiscal policy: The case of Poland," European Journal of Political Economy, Elsevier, vol. 83(C).
    12. Pan, Wei-Fong, 2023. "The effect of populism on high-skilled migration: Evidence from inventors," European Journal of Political Economy, Elsevier, vol. 79(C).
    13. Ferrari, Alessandro & Rogantini Picco, Anna, 2023. "Risk sharing and the adoption of the Euro," Journal of International Economics, Elsevier, vol. 141(C).
    14. Jan Philipp Fritsche & Patrick Christian Harms, 2020. "Better off without the Euro? A Structural VAR Assessment of European Monetary Policy," Discussion Papers of DIW Berlin 1907, DIW Berlin, German Institute for Economic Research.

  20. Benjamin Born & Francesco D'Ascanio & Gernot Müller & Johannes Pfeifer, 2019. "The Worst of Both Worlds: Fiscal Policy and Fixed Exchange Rates," CESifo Working Paper Series 7922, CESifo.

    Cited by:

    1. Anne Kathrin Funk & Daniel Kaufmann, 2020. "Do Sticky Wages Matter? New Evidence from Matched Firm-Survey and Register Data," KOF Working papers 20-480, KOF Swiss Economic Institute, ETH Zurich.
    2. Laurent Ferrara & Luca Metelli & Filippo Natoli & Daniele Siena, 2020. "Questioning the puzzle: Fiscal policy, exchange rate and inflation," Working papers 752, Banque de France.
    3. Hyeongwoo Kim & Shuwei Zhang, 2022. "Policy Coordination and the Effectiveness of Fiscal Stimulus," Auburn Economics Working Paper Series auwp2022-01, Department of Economics, Auburn University.
    4. Mamondi Victor Daniel & Oviedo Jorge & De la Rosa Adolfo, 2023. "El-Déficit-Fiscal-Deteriora-el-Tipo-de-Cambio-Real.-Evidencias-por-medio-de-un-modelo-de-EGDE-para-Argentina," Asociación Argentina de Economía Política: Working Papers 4666, Asociación Argentina de Economía Política.
    5. HSING, Yu, 2021. "Are The Predictions Of The Mundell-Fleming Model Applicable To Argentina?," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 21(1), pages 37-48.
    6. Benatti, Nicola & Groiss, Martin & Kelly, Petra & Lopez-Garcia, Paloma, 2024. "Environmental regulation and productivity growth in the euro area: Testing the porter hypothesis," Journal of Environmental Economics and Management, Elsevier, vol. 126(C).
    7. Yoon J. Jo & Sarah Zubairy, 2021. "State dependent government spending multipliers: Downward nominal wage rigidity and sources of business cycle fluctuations," Working Papers 20210127-001, Texas A&M University, Department of Economics.
    8. Mr. Tidiane Kinda & Andras Lengyel & Kaustubh Chahande, 2022. "Fiscal Multipliers During Pandemics," IMF Working Papers 2022/149, International Monetary Fund.
    9. Lukasz Wiktor Olejnik, 2023. "Economic growth and military expenditure in the countries on NATOʼs Eastern flank in 1999–2021," Bank of Estonia Working Papers wp2023-2, Bank of Estonia, revised 09 May 2023.
    10. Siming Liu, 2018. "Government Spending during Sudden Stop Crises," CAEPR Working Papers 2018-002, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    11. Ferrara, Laurent & Metelli, Luca & Natoli, Filippo & Siena, Daniele, 2021. "Questioning the puzzle: Fiscal policy, real exchange rate and inflation," Journal of International Economics, Elsevier, vol. 133(C).
    12. Kohler, Wilhelm & Müller, Gernot J. & Wellmann, Susanne, 2021. "Risk sharing in currency unions: The migration channel," University of Tübingen Working Papers in Business and Economics 144, University of Tuebingen, Faculty of Economics and Social Sciences, School of Business and Economics.
    13. Naser Yenus Nuru & Hayelom Yrgaw Gereziher, 2021. "The impacts of public expenditure innovations on real exchange rate volatility in South Africa," WIDER Working Paper Series wp-2021-72, World Institute for Development Economic Research (UNU-WIDER).
    14. Ramona Tiganasu & Gabriela Carmen Pascariu & Dan Lupu, 2022. "Competitiveness, fiscal policy and corruption: evidence from Central and Eastern European countries," Oeconomia Copernicana, Institute of Economic Research, vol. 13(3), pages 667-698, September.
    15. Duque Gabriel, Ricardo & Klein, Mathias & Pesso, Ana Sofia, 2020. "The Effects of Government Spending in the Eurozone," Working Paper Series 400, Sveriges Riksbank (Central Bank of Sweden).
    16. Wataru Hirata & Toshitaka Maruyama & Tomohide Mineyama, 2020. "Flattening of the Wage Phillips Curve and Downward Nominal Wage Rigidity: The Japanese Experience in the 2010s," Bank of Japan Working Paper Series 20-E-4, Bank of Japan.
    17. Matthias Burgert & Philipp Pfeiffer & Werner Roeger, 2021. "Fiscal policy in a monetary union with downward nominal wage rigidity," Working Papers 2021-16, Swiss National Bank.
    18. Olejnik, Łukasz Wiktor, 2023. "Short-run multiplier effects of military expenditures in NATO's Eastern Flank countries in 1999–2021," Journal of Comparative Economics, Elsevier, vol. 51(4), pages 1344-1355.

  21. Müller, Gernot & Enders, Zeno & Hünnekes, Franziska, 2019. "Monetary Policy Announcements and Expectations: Evidence from German Firms," CEPR Discussion Papers 13916, C.E.P.R. Discussion Papers.

    Cited by:

    1. Meyer, Brent H. & Sheng, Xuguang Simon, 2025. "Unit cost expectations: Firms’ perspectives on inflation," European Economic Review, Elsevier, vol. 174(C).
    2. Alexandros Botsis & Christoph Görtz & Plutarchos Sakellaris, 2024. "Quantifying Qualitative Survey Data with Panel Data Structure," CESifo Working Paper Series 11013, CESifo.
    3. Zeno Enders & Franziska Hünnekes & Gernot Müller, 2019. "Firm expectations and economic activity," CESifo Working Paper Series 7623, CESifo.
    4. Yuriy Gorodnichenko & Tho Pham & Oleksandr Talavera, 2021. "The Voice of Monetary Policy," Discussion Papers 21-02, Department of Economics, University of Birmingham.
    5. Alan S. Blinder & Michael Ehrmann & Jakob de Haan & David-Jan Jansen, 2024. "Central Bank Communication with the General Public: Promise or False Hope?," Journal of Economic Literature, American Economic Association, vol. 62(2), pages 425-457, June.
    6. Botsis, Alexandros & Görtz, Christoph & Sakellaris, Plutarchos, 2024. "Quantifying qualitative survey data with panel data," Journal of Economic Dynamics and Control, Elsevier, vol. 167(C).
    7. Brancati, Emanuele, 2023. "R&D plans, expectations, and uncertainty: Evidence from the COVID-19 shock in Italy," Structural Change and Economic Dynamics, Elsevier, vol. 67(C), pages 303-318.
    8. Benjamin Born & Zeno Enders & Manuel Menkhoff & Gernot J. Müller & Knut Niemann, 2023. "Firm Expectations and News: Micro v Macro," ifo Working Paper Series 400, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    9. Anja Kukuvec & Harald Oberhofer, 2020. "The Propagation of Business Expectations within the European Union," CESifo Working Paper Series 8198, CESifo.
    10. Federico Di Pace & Giacomo Mangiante & Riccardo Masolo, 2023. "Do firm expectations respond to monetary policy announcements?," Bank of England working papers 1014, Bank of England.
    11. Link, Sebastian & Peichl, Andreas & Roth, Christopher & Wohlfart, Johannes, 2023. "Information frictions among firms and households," Journal of Monetary Economics, Elsevier, vol. 135(C), pages 99-115.
    12. Heiner Mikosch & Christopher Roth & Samad Sarferaz & Johannes Wohlfart, 2021. "Uncertainty and Information Acquisition: Evidence from Firms and Households," ECONtribute Discussion Papers Series 129, University of Bonn and University of Cologne, Germany.
    13. Hack, Lukas & Rostam-Afschar, Davud, 2024. "Understanding Firm Dynamics with Daily Data," VfS Annual Conference 2024 (Berlin): Upcoming Labor Market Challenges 302376, Verein für Socialpolitik / German Economic Association.
    14. Link, Sebastian, 2022. "The Price and Employment Response of Firms to the Introduction of Minimum Wages," IZA Discussion Papers 15701, Institute of Labor Economics (IZA).
    15. Jean-Louis Combes & Pierre Lesuisse, 2022. "Inflation and unemployment, new insights during the EMU accession," International Economics, CEPII research center, issue 172, pages 124-142.
    16. Bachmann, Rüdiger, 2019. "Comments on “Monetary policy announcements and expectations: Evidence from German firms”," Journal of Monetary Economics, Elsevier, vol. 108(C), pages 64-68.
    17. Ivan Yotzov & Nicholas Bloom & Philip Bunn & Paul Mizen & Gregory Thwaites, 2024. "The speed of firm response to inflation," Bank of England working papers 1085, Bank of England.
    18. Jia, Chengcheng, 2023. "The informational effect of monetary policy and the case for policy commitment," European Economic Review, Elsevier, vol. 156(C).
    19. Brent Meyer & Xuguang Sheng, 2024. "Unit Cost Expectations and Uncertainty: Firms' Perspectives on Inflation," FRB Atlanta Working Paper 2021-12b, Federal Reserve Bank of Atlanta.
    20. Hack, Lukas & Rostam-Afschar, Davud, 2025. "Which Macroeconomic News Matters for Price-Setting?," IZA Discussion Papers 17935, Institute of Labor Economics (IZA).
    21. Gorodnichenko, Yuriy & Pham, Tho & Talavera, Oleksandr, 2025. "Central bank communication on social media: What, to whom, and how?," Journal of Econometrics, Elsevier, vol. 249(PC).
    22. Alexandros Botsis & Christoph Gortz & Plutarchos Sakellaris, 2023. "Quantifying Qualitative Survey Data: New Insights on the (Ir)Rationality of Firms' Forecasts," Discussion Papers 23-06, Department of Economics, University of Birmingham.
    23. Cheng CHEN & Tatsuro SENGA & Chang SUN & Hongyong ZHANG, 2018. "Uncertainty, Imperfect Information, and Expectation Formation over the Firm's Life Cycle," Discussion papers 18010, Research Institute of Economy, Trade and Industry (RIETI).
    24. Nöller, Marvin & Balleer, Almut, 2023. "Monetary Policy in the Presence of Supply Constraints: Evidence from German Firm-level Data," VfS Annual Conference 2023 (Regensburg): Growth and the "sociale Frage" 277638, Verein für Socialpolitik / German Economic Association.
    25. Sebastian Link & Andreas Peichl & Christopher Roth & Johannes Wohlfart & Oliver Pfaeuti, 2025. "Attention to the Macroeconomy," CEBI working paper series 23-09, University of Copenhagen. Department of Economics. The Center for Economic Behavior and Inequality (CEBI).
    26. Conrad, Christian & Enders, Zeno & Glas, Alexander, 2020. "The role of information and experience for households' inflation expectations," Working Papers 20, German Research Foundation's Priority Programme 1859 "Experience and Expectation. Historical Foundations of Economic Behaviour", Humboldt University Berlin.
    27. Battistini, Niccolò & Falagiarda, Matteo & Hackmann, Angelina & Roma, Moreno, 2022. "Navigating the housing channel of monetary policy across euro area regions," Working Paper Series 2752, European Central Bank.
    28. Balduzzi, Pierluigi & Brancati, Emanuele & Brianti, Marco & Schiantarelli, Fabio, 2024. "Credit constraints and firms’ decisions: Lessons from the COVID-19 outbreak," Journal of Monetary Economics, Elsevier, vol. 142(C).
    29. Müller, Gernot & Dietrich, Alexander & Kuester, Keith & Schoenle, Raphael, 2021. "News and uncertainty about COVID-19: Survey evidence and short-run economic impact," CEPR Discussion Papers 16766, C.E.P.R. Discussion Papers.
    30. Julien Pinter & Evžen Kocenda & Evžen Kočenda, 2023. "Media Treatment of Monetary Policy Surprises and Their Impact on Firms’ and Consumers’ Expectations," CESifo Working Paper Series 10413, CESifo.
    31. Yang, Yang & Zhang, Jiqiang & Chen, Sanpan, 2023. "Information effects of monetary policy announcements on oil price," Journal of Commodity Markets, Elsevier, vol. 30(C).
    32. Dräger, Lena, 2023. "Central Bank Communication with the General Public," Hannover Economic Papers (HEP) dp-713, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    33. Jarociński, Marek, 2020. "Central bank information effects and transatlantic spillovers," Working Paper Series 2482, European Central Bank.
    34. Ambrocio, Gene & Juselius, Mikael, 2020. "Dealing with the costs of the COVID-19 pandemic – what are the fiscal options?," BoF Economics Review 2/2020, Bank of Finland.
    35. de Haan, Jakob & Hoogduin, Lex, 2024. "ECB communication policies: An overview and comparison with the Federal Reserve," Journal of International Money and Finance, Elsevier, vol. 142(C).
    36. Dorine Boumans & Clemens Fuest & Carla Krolage & Klaus Wohlrabe, 2020. "Expected effects of the US tax reform on other countries: global and local survey evidence," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 27(6), pages 1608-1630, December.
    37. Cardillo, Giovanni & Onali, Enrico & Perdichizzi, Salvatore, 2024. "Investor behavior around targeted liquidity announcements," The British Accounting Review, Elsevier, vol. 56(6).
    38. Ruediger Bachmann & Kai Carstensen & Stefan Lautenbacher & Martin Schneider, 2021. "Uncertainty and Change: Survey Evidence of Firms's Subjective Beliefs," CESifo Working Paper Series 9394, CESifo.
    39. Balleer, Almut & Noeller, Marvin, 2023. "Monetary policy in the presence of supply constraints: Evidence from German firm-level data," Ruhr Economic Papers 1060, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    40. Alfonso Rosolia, 2021. "Does information about current inflation affect expectations and decisions? Another look at Italian firms," Temi di discussione (Economic working papers) 1353, Bank of Italy, Economic Research and International Relations Area.
    41. Almut Balleer & Marvin Noeller, 2023. "Monetary Policy in the Presence of Supply Constraints: Evidence from German Firm-Level Data," CESifo Working Paper Series 10261, CESifo.
    42. Eminidou, Snezana & Zachariadis, Marios, 2022. "Firms’ expectations and monetary policy shocks in the euro area," Journal of International Money and Finance, Elsevier, vol. 122(C).
    43. Antonecchia, Gianluca, 2023. "Heterogeneous expectations, forecast accuracy and firms’ credit demand," European Economic Review, Elsevier, vol. 154(C).
    44. Yang, Jinyu & Dong, Dayong & Liang, Chao & Cao, Yang, 2024. "Monetary policy uncertainty and the price bubbles in energy markets," Energy Economics, Elsevier, vol. 133(C).

  22. Benjamin Born & Gernot J. Müller & Moritz Schularick & Petr Sedlacek, 2017. "The Economic Consequences of the Brexit Vote," Discussion Papers 1738, Centre for Macroeconomics (CFM).

    Cited by:

    1. Breinlich, Holger & Leromain, Elsa & Novy, Dennis & Sampson, Thomas & Usman, Ahmed, 2018. "The economic effects of Brexit- evidence from the stock market," LSE Research Online Documents on Economics 91692, London School of Economics and Political Science, LSE Library.
    2. Kym Anderson & Glyn Wittwer, 2018. "Cumulative Effects of Brexit and Other UK and EU27 Bilateral FTAs on the World's Wine Markets," Wine Economics Research Centre Working Papers 2018-01, University of Adelaide, Wine Economics Research Centre.
    3. Hobijn, Bart & Nechio, Fernanda & Shapiro, Adam Hale, 2021. "Using Brexit to identify the nature of price rigidities," Journal of International Economics, Elsevier, vol. 130(C).
    4. Ilhamah Qiamy & Fahim Nawaz & Syed Umair Jalal, 2018. "The United Kingdom and Brexit: Implications, Consequences and Opportunities," Global Economics Review, Humanity Only, vol. 3(2), pages 1-11, December.
    5. Anderson, Kym & Wittwer, Glyn, 2018. "Cumulative Effects of Brexit and Other UK and EU27 Bilateral FTAs on the World’s Wine Markets," CEPR Discussion Papers 12621, C.E.P.R. Discussion Papers.
    6. Catherine Georgiou, 2020. "The British Stock Market under the Structure of Market Capitalization Value: New Evidence on its Predictive Content," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 13(3), pages 56-69, December.
    7. Douch, Mustaph & Huw Edwards, T., 2021. "The Brexit policy shock: Were UK services exports affected, and when?," Journal of Economic Behavior & Organization, Elsevier, vol. 182(C), pages 248-263.
    8. Maricel Linares Giraldo & William Rodrigo Avenda�o Castro & Johanna Milena Mogrovejo Andrade, 2020. "Implicaciones geopolíticas y económicas del Brexit en la Unión Europea," Apuntes del Cenes, Universidad Pedagógica y Tecnológica de Colombia, vol. 36(70), pages 14-41.
    9. Paul J.J. Welfens & Tian Xiong, 2018. "BREXIT Perspectives: Financial Market Dynamics, Welfare Aspects and Problems from Slower Growth," EIIW Discussion paper disbei249, Universitätsbibliothek Wuppertal, University Library.
    10. Hamdi Jbir, 2025. "Does financial stability communication affect financial asset prices? Evidence from the Bank of England's communication experiment," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 30(2), pages 1831-1855, April.
    11. Deyan Radev & Georgi Penev, 2022. "Brexit and the Fintech Revolution in Europe - Lessons from the Bulgarian Digital Finance Cluster," Bulgarian Economic Papers bep-2022-07, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski, revised Aug 2022.
    12. Barry Eichengreen & William Jungerman & Mingyang Liu, 2020. "Brexit, the City of London, and the prospects for portfolio investment," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 47(1), pages 1-16, February.
    13. Paul J. J. Welfens & Tian Xiong, 2019. "Correction to: BREXIT perspectives: financial market dynamics, welfare aspects and problems from slower growth," International Economics and Economic Policy, Springer, vol. 16(1), pages 267-267, March.
    14. Tihana Škrinjarić, 2019. "Stock Market Reactions to Brexit: Case of Selected CEE and SEE Stock Markets," IJFS, MDPI, vol. 7(1), pages 1-14, January.
    15. Martin Braml & Gabriel Felbermayr, 2019. "Quo vadis, Brexitannia?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 72(02), pages 32-39, January.
    16. Kevin Ralston & Dawn Everington & Zhiqiang Feng & Chris Dibben, 2022. "Economic Inactivity, Not in Employment, Education or Training (NEET) and Scarring: The Importance of NEET as a Marker of Long-Term Disadvantage," Work, Employment & Society, British Sociological Association, vol. 36(1), pages 59-79, February.

  23. Benjamin Born & Gernot Müller & Moritz Schularick & Petr Sedláček, 2017. "The Costs of Economic Nationalism: Evidence from the Brexit Experiment," CESifo Working Paper Series 6780, CESifo.

    Cited by:

    1. Ruthardt, Fabian & Potrafke, Niklas & Wüthrich, Kaspar, 2021. "Protectionism and economic growth: Causal evidence from the first era of globalization," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242425, Verein für Socialpolitik / German Economic Association.
    2. Sampson, Thomas & Breinlich, Holger & Leromain, Elsa & Novy, Dennis, 2019. "Voting with their money: Brexit and outward investment by UK firms," LSE Research Online Documents on Economics 103396, London School of Economics and Political Science, LSE Library.
    3. Swati Dhingra & Rebecca Freeman & Hanwei Huang, 2021. "The impact of non-tariff barriers on trade and welfare," CEP Discussion Papers dp1742, Centre for Economic Performance, LSE.
    4. Michal Brzezinski & Katarzyna Sałach‐Dróżdż, 2024. "The short‐term macroeconomic impact of populism: A case study of Poland," Economics and Politics, Wiley Blackwell, vol. 36(2), pages 832-867, July.
    5. Peydró, José-Luis & Rodriguez-Tous, Francesc & Tripathy, Jagdish & Uluc, Arzu, 2020. "Macroprudential Policy, Mortgage Cycles and Distributional Effects: Evidence from the UK," EconStor Preprints 223303, ZBW - Leibniz Information Centre for Economics.
    6. Michal Kobielarz, 2023. "A Theory of International Unions with Exits," Working Papers of Department of Economics, Leuven 746860, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
    7. Corsetti, Giancarlo & Bergin, Paul R, 2020. "The Macroeconomic Stabilization of Tariff Shocks: What is the Optimal Monetary Response?," CEPR Discussion Papers 14556, C.E.P.R. Discussion Papers.
    8. Breinlich, Holger & Leromain, Elsa & Novy, Dennis & Sampson, Thomas, 2019. "Exchange Rates and Consumer Prices: Evidence from Brexit," CAGE Online Working Paper Series 447, Competitive Advantage in the Global Economy (CAGE).
    9. Ademmer, Martin & Boysen-Hogrefe, Jens & Fiedler, Salomon & Groll, Dominik & Jannsen, Nils & Kooths, Stefan & Potjagailo, Galina, 2019. "Deutsche Konjunktur im Frühjahr 2019 - Deutsche Konjunktur kühlt ab [German Economy Spring 2019 - German economy cools down]," Kieler Konjunkturberichte 53, Kiel Institute for the World Economy (IfW Kiel).
    10. Dovern, Jonas & Frank, Johannes & Glas, Alexander & Müller, Lena Sophia & Perico Ortiz, Daniel, 2023. "Estimating pass-through rates for the 2022 tax reduction on fuel prices in Germany," Energy Economics, Elsevier, vol. 126(C).
    11. Geiger, Martin & Güntner, Jochen, 2024. "The chronology of Brexit and UK monetary policy," Journal of Monetary Economics, Elsevier, vol. 142(C).
    12. Breinlich, Holger & Leromain, Elsa & Novy, Dennis & Sampson, Thomas & Usman, Ahmed, 2018. "The economic effects of Brexit- evidence from the stock market," LSE Research Online Documents on Economics 91692, London School of Economics and Political Science, LSE Library.
    13. Laurent Ferrara & Joseph Yapi, 2020. "Measuring Exchange Rate Risks During Periods of Uncertainty," CAMA Working Papers 2020-60, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    14. Julian Hinz & Elsa Leromain, 2020. "Critically Important: The Heterogeneous Effect of Diplomatic Tensions on Trade," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 57(2), pages 309-331, September.
    15. Michael Funke & Kadri Männasoo & Helery Tasane, 2023. "Regional Economic Impacts of the Øresund Cross-Border Fixed Link: Cui Bono?," CESifo Working Paper Series 10557, CESifo.
    16. Björn Imbierowicz & Arne Nagengast & Esteban Prieto & Ursula Vogel & Arne J. Nagengast, 2025. "Bank Lending and Firm Internal Capital Markets Following a Deglobalization Shock," CESifo Working Paper Series 11775, CESifo.
    17. Cruz A. Echevarría & Serhat Hasancebi & Javier García-Enríquez, 2022. "Economic Effects of Macao’s Integration with Mainland China: A Causal Inference Study," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 37(2), pages 179-215.
    18. Ana Venâncio & João Pereira dos Santos, 2021. "The effect of Brexit on British workers living in the EU," Working Papers REM 2021/0197, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    19. Thomas Barnebeck Andersen, 2023. "The Cost of a Currency Peg during the Great Recession," Open Economies Review, Springer, vol. 34(2), pages 255-279, April.
    20. Campos, Nauro F., 2019. "B for Brexit: A Survey of the Economics Academic Literature," IZA Discussion Papers 12134, Institute of Labor Economics (IZA).
    21. Azqueta-Gavaldon, Andres, 2023. "Political referenda and investment: Evidence from Scotland," European Journal of Political Economy, Elsevier, vol. 80(C).
    22. Matej Opatrny, 2021. "The impact of the Brexit vote on UK financial markets: a synthetic control method approach," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 48(2), pages 559-587, May.
    23. Mustapha Douch & Terence Huw Edwards, 2022. "The bilateral trade effects of announcement shocks: Brexit as a natural field experiment," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 37(2), pages 305-329, March.
    24. Manuel Funke & Moritz Schularick & Christoph Trebesch, 2023. "Populist Leaders and the Economy," American Economic Review, American Economic Association, vol. 113(12), pages 3249-3288, December.
    25. Fetzer, Thiemo & Wang, Shizhuo, 2020. "Measuring the Regional Economic Cost of Brexit: Evidence up to 2019," CEPR Discussion Papers 15051, C.E.P.R. Discussion Papers.
    26. Bidisha Lahiri & Anurag Deb, 2022. "Impact of the Indian “demonetization” policy on its export performance," Empirical Economics, Springer, vol. 62(6), pages 2799-2825, June.
    27. Daniel Aparicio-Pérez & Maria Teresa Balaguer-Coll & Emili Tortosa-Ausina, 2021. "Politics against Economics: The Case of Spanish Regional Financing," Working Papers 2021/15, Economics Department, Universitat Jaume I, Castellón (Spain).
    28. Hobijn, Bart & Nechio, Fernanda & Shapiro, Adam Hale, 2021. "Using Brexit to identify the nature of price rigidities," Journal of International Economics, Elsevier, vol. 130(C).
    29. Ilhamah Qiamy & Fahim Nawaz & Syed Umair Jalal, 2018. "The United Kingdom and Brexit: Implications, Consequences and Opportunities," Global Economics Review, Humanity Only, vol. 3(2), pages 1-11, December.
    30. Panitz Robert & Glückler Johannes, 2023. "Post-Brexit: Do board interlocks make banks take similar relocation decisions?," ZFW – Advances in Economic Geography, De Gruyter, vol. 67(2-3), pages 127-141, August.
    31. Bibek Adhikari, 2022. "A Guide to Using the Synthetic Control Method to Quantify the Effects of Shocks, Policies, and Shocking Policies," The American Economist, Sage Publications, vol. 67(1), pages 46-63, March.
    32. Rocco, Matteo V. & Guevara, Zeus & Heun, Matthew Kuperus, 2020. "Assessing energy and economic impacts of large-scale policy shocks based on Input-Output analysis: Application to Brexit," Applied Energy, Elsevier, vol. 274(C).
    33. Hang Do & Kiet Duong & Toan Huynh & Nam T. Vu, 2024. "The Real Effects of Brexit on Labor Demand: Evidence from Firm-level Data," Working Papers 117, Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research.
    34. Mengkai Chen & Ting Chen & Debao Ruan & Xiaowei Wang, 2023. "Land Finance, Real Estate Market, and Local Government Debt Risk: Evidence from China," Land, MDPI, vol. 12(8), pages 1-18, August.
    35. Swati Dhingra & Thomas Sampson, 2022. "Expecting Brexit," Annual Review of Economics, Annual Reviews, vol. 14(1), pages 495-519, August.
    36. Tarek A. Hassan & Stephan Hollander & Laurence Van Lent & Ahmed Tahoun, 2024. "The Global Impact of Brexit Uncertainty," Journal of Finance, American Finance Association, vol. 79(1), pages 413-458, February.
    37. Tarek Alexander Hassan & Stephan Hollander & Laurence van Lent & Ahmed Tahoun, 2020. "The Global Impact of Brexit Uncertainty," Boston University - Department of Economics - The Institute for Economic Development Working Papers Series dp-332, Boston University - Department of Economics.
    38. Stephen Drinkwater & Colin Jennings, 2022. "The Brexit referendum and three types of regret," Public Choice, Springer, vol. 193(3), pages 275-291, December.
    39. Gern, Klaus-Jürgen & Hauber, Philipp & Kooths, Stefan & Mösle, Saskia & Stolzenburg, Ulrich, 2018. "Weltkonjunktur im Winter 2018 - Weltkonjunktur mit weniger Schwung [World Economy Winter 2018 - Slower growth in the world economy]," Kieler Konjunkturberichte 49, Kiel Institute for the World Economy (IfW Kiel).
    40. Fetzer, Thiemo & Yotzov, Ivan, 2023. "(How) Do electoral surprises drive business cycles? Evidence from a new dataset," CAGE Online Working Paper Series 672, Competitive Advantage in the Global Economy (CAGE).
    41. Kaan Celebi, 2020. "Quo Vadis, Britain? - Implications of the Brexit Process on the UK's Real Economy," EIIW Discussion paper disbei268, Universitätsbibliothek Wuppertal, University Library.
    42. Di Tommaso, Marco Rodolfo & Prodi, Elena & Di Matteo, Dante & Barbieri, Elisa, 2025. "Structural change and its discontents," Structural Change and Economic Dynamics, Elsevier, vol. 72(C), pages 438-455.
    43. Anand, Kartik & Gai, Prasanna & König, Philipp Johann, 2020. "Leaping into the dark: A theory of policy gambles," Discussion Papers 07/2020, Deutsche Bundesbank.
    44. Kren, Janez & Lawless, Martina, 2024. "How has Brexit changed EU–UK trade flows?," European Economic Review, Elsevier, vol. 161(C).
    45. Hinnerk Gnutzmann & Arevik Gnutzmann-Mkrtchyan & Tobias Korn, 2025. "Reversal of Economic Integration: Evidence from EU Enlargement," Working Papers 407, Leibniz Institut für Ost- und Südosteuropaforschung (Leibniz Institute for East and Southeast European Studies).
    46. Ben Broadbent & Federico Di Pace & Thomas Drechsel & Richard Harrison & Silvana Tenreyro, 2019. "The Brexit Vote, Productivity Growth and Macroeconomic Adjustments in the United Kingdom," Discussion Papers 1916, Centre for Macroeconomics (CFM).
    47. Marco Hidalgo Ramírez, 2024. "What fuels conservative voting? Revisiting Costa Rica’s 2018 elections," Working Papers 202402, Universidad de Costa Rica, revised Feb 2024.
    48. Born, Benjamin & Dietrich, Alexander & Müller, Gernot, 2020. "The lockdown effect: A counterfactual for Sweden," CEPR Discussion Papers 14744, C.E.P.R. Discussion Papers.
    49. Gabriel, Ricardo Duque & Pessoa, Ana Sofia, 2020. "Adopting the Euro: a synthetic control approach," MPRA Paper 99391, University Library of Munich, Germany.
    50. Chen, Qian & Koch, Christoffer & Richardson, Gary & Sharma, Padma, 2025. "Suspensions of payments and their consequences," Journal of Financial Stability, Elsevier, vol. 78(C).
    51. Thomas Aronsson & Clemens Hetschko & Ronnie Schöb, 2020. "Globalization, Time-Preferences, and Populist Voting," CESifo Working Paper Series 8466, CESifo.
    52. Andreas Brunhart & Martin Geiger, 2025. "Sectoral effects of exchange rate shocks: goods exports and the appreciation of the Swiss Franc in 2015," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 161(1), pages 1-25, December.
    53. Benjamin Born & Gernot J. Müller & Moritz Schularick & Petr Sedláček, 2021. "The macroeconomic impact of Trump," Policy Studies, Taylor & Francis Journals, vol. 42(5-6), pages 580-591, November.
    54. Guesmi, Khaled & Makrychoriti, Panagiota & Spyrou, Spyros, 2023. "The relationship between climate risk, climate policy uncertainty, and CO2 emissions: Empirical evidence from the US," Journal of Economic Behavior & Organization, Elsevier, vol. 212(C), pages 610-628.
    55. Müller, Gernot & Dietrich, Alexander & Kuester, Keith & Schoenle, Raphael, 2021. "News and uncertainty about COVID-19: Survey evidence and short-run economic impact," CEPR Discussion Papers 16766, C.E.P.R. Discussion Papers.
    56. Syrengelas, Konstantinos G & Cheptea, Angela & Huchet, Marilyne, 2025. "Brexit referendum and region-level agri-food trade," Working Papers 352072, Institut National de la recherche Agronomique (INRA), Departement Sciences Sociales, Agriculture et Alimentation, Espace et Environnement (SAE2).
    57. Woo-Mora, L. Guillermo, 2025. "Populism’s original sin: Short-term populist penalties and uncertainty traps," European Economic Review, Elsevier, vol. 172(C).
    58. Douch, Mustaph & Huw Edwards, T., 2021. "The Brexit policy shock: Were UK services exports affected, and when?," Journal of Economic Behavior & Organization, Elsevier, vol. 182(C), pages 248-263.
    59. Michael Peneder & Benjamin Bittschi & Anna Burton & Angela Köppl & Thomas Url, 2024. "The WIFO Radar of Competitiveness for the Austrian Economy 2023," WIFO Reports on Austria, WIFO, issue 2, January.
    60. Anttonen, Jetro & Kuusi, Tero & Lehmus, Markku & Orjasniemi, Seppo, 2019. "2013 – The Finnish Divergence," ETLA Brief 76, The Research Institute of the Finnish Economy.
    61. Maricel Linares Giraldo & William Rodrigo Avenda�o Castro & Johanna Milena Mogrovejo Andrade, 2020. "Implicaciones geopolíticas y económicas del Brexit en la Unión Europea," Apuntes del Cenes, Universidad Pedagógica y Tecnológica de Colombia, vol. 36(70), pages 14-41.
    62. Paul J.J. Welfens & Tian Xiong, 2018. "BREXIT Perspectives: Financial Market Dynamics, Welfare Aspects and Problems from Slower Growth," EIIW Discussion paper disbei249, Universitätsbibliothek Wuppertal, University Library.
    63. Julio Revuelta, 2021. "The Effects of the Economic Adjustment Programmes for Greece: A Quasi-Experimental Approach," Sustainability, MDPI, vol. 13(9), pages 1-15, April.
    64. Makram El-Shagi & Steven Yamarik, 2023. "Growth Effects of EU Expansion: A Penalized Synthetic Control Method," CFDS Discussion Paper Series 2023/4, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    65. Roşu, Maria-Magdalena & Fiscutean, Andrada & Paun, Mihaela, 2024. "The press and government, influencers of citizens’ political opinions: A quasi-experiment on Brexit," Journal of Policy Modeling, Elsevier, vol. 46(2), pages 272-288.
    66. Ferrari, Alessandro & Rogantini Picco, Anna, 2023. "Risk sharing and the adoption of the Euro," Journal of International Economics, Elsevier, vol. 141(C).
    67. Misina Cato & Olga Francová, 2025. "The distributional implications of the euro area crisis: Evidence from macroeconomic adjustment in Greece and Portugal," Working Papers 67, European Stability Mechanism, revised 10 Jan 2025.
    68. Steven Brakman & Harry Garretsen & Tristan Kohl, 2021. "EXITitis in the UK: Gravity Estimates in the Aftermath of Brexit," CESifo Working Paper Series 9292, CESifo.
    69. Idriss Fontaine & Justinien Razafindravaosolonirina, 2023. "The income loss of a political crisis: Evidence from Madagascar," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 31(3), pages 657-681, July.
    70. Efrem Castelnuovo, 2019. "Domestic and Global Uncertainty: A Survey and Some New Results," CESifo Working Paper Series 7900, CESifo.
    71. Murat Demirci, 2021. "Rising Political Populism and Outmigration of Youth as International Students," Koç University-TUSIAD Economic Research Forum Working Papers 2123, Koc University-TUSIAD Economic Research Forum.
    72. Ademmer, Martin & Jannsen, Nils, 2019. "Die Bedeutung von Sonderfaktoren für die deutsche Konjunktur: Eine Analyse anhand synthetischer Doppelgänger," Kiel Insight 2019.3, Kiel Institute for the World Economy (IfW Kiel).
    73. Tao, Miaomiao & Saadaoui, Jamel, 2025. "The Economic Cost of Nationalism," MPRA Paper 125113, University Library of Munich, Germany.
    74. Douglas Dow & Ilya R. P. Cuypers, 2024. "The influence of societal nationalist sentiment on trade flows," Journal of International Business Policy, Palgrave Macmillan, vol. 7(1), pages 64-98, March.
    75. Demirci, Murat, 2023. "Youth responses to political populism: Education abroad as a step toward emigration," Journal of Comparative Economics, Elsevier, vol. 51(2), pages 653-673.
    76. Huynh, Tran & Uebelmesser, Silke, 2024. "Early warning models for systemic banking crises: Can political indicators improve prediction?," European Journal of Political Economy, Elsevier, vol. 81(C).
    77. Ursula Münch & Armin Nassehi & Joe Kaeser & Knut Bergmann & Matthias Diermeier & Florian Dorn & David Gstrein & Florian Neumeier & Manuel Funke & Moritz Schularick & Christoph Trebesch & Kerim Peren A, 2024. "Wohlstand in Gefahr? Ursachen und Folgen von Populismus," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 77(03), pages 03-32, March.
    78. Hamdi Jbir, 2025. "Does financial stability communication affect financial asset prices? Evidence from the Bank of England's communication experiment," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 30(2), pages 1831-1855, April.
    79. Josh De Lyon & Swati Dhingra, 2020. "Covid-19 and Brexit: Real-time updates on business performance in the United Kingdom," CEP Covid-19 Analyses cepcovid-19-006, Centre for Economic Performance, LSE.
    80. Deyan Radev & Georgi Penev, 2022. "Brexit and the Fintech Revolution in Europe - Lessons from the Bulgarian Digital Finance Cluster," Bulgarian Economic Papers bep-2022-07, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski, revised Aug 2022.
    81. Barry Eichengreen & William Jungerman & Mingyang Liu, 2020. "Brexit, the City of London, and the prospects for portfolio investment," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 47(1), pages 1-16, February.
    82. Vesa Pursiainen, 2022. "Cultural Biases in Equity Analysis," Journal of Finance, American Finance Association, vol. 77(1), pages 163-211, February.
    83. Morteza Ghomi, 2022. "Who is afraid of sanctions? The macroeconomic and distributional effects of the sanctions against Iran," Economics and Politics, Wiley Blackwell, vol. 34(3), pages 395-428, July.
    84. Lukas J. Hornung & Nico Stöckmann, 2024. "Protectionism in Disguise? EU Anti-Dumping Measures Targeting PRC Iron and Steel Products," Journal of Industry, Competition and Trade, Springer, vol. 24(1), pages 1-31, December.
    85. Feás, Enrique, 2023. "The impact of the Brexit referendum on UK’s value-added exports: A structural decomposition," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 1239-1254.
    86. Paul J. J. Welfens & Tian Xiong, 2019. "Correction to: BREXIT perspectives: financial market dynamics, welfare aspects and problems from slower growth," International Economics and Economic Policy, Springer, vol. 16(1), pages 267-267, March.
    87. Naudé, Wim, 2020. "Industrialization under Medieval Conditions? Global Development after COVID-19," IZA Discussion Papers 13829, Institute of Labor Economics (IZA).
    88. Martin Braml & Gabriel Felbermayr, 2019. "Quo vadis, Brexitannia?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 72(02), pages 32-39, January.
    89. Michael Peneder & Benjamin Bittschi & Anna Burton & Angela Köppl & Thomas Url, 2023. "Das WIFO-Radar der Wettbewerbsfähigkeit der österreichischen Wirtschaft 2023," WIFO Monatsberichte (monthly reports), WIFO, vol. 96(12), pages 845-856, December.
    90. Schrader, Klaus & Jessen-Thiesen, Levke, 2021. "Deutsche Arbeitsplätze und Brexit: Die Bedeutung des Exports nach Großbritannien für die Beschäftigung in den deutschen Bundesländern," Kiel Policy Brief 149, Kiel Institute for the World Economy (IfW Kiel).
    91. Boysen-Hogrefe, Jens, 2023. "Zum Einfluss der Grunderwerbsteuer auf den Wohnungsneubau in Deutschland," Kiel Policy Brief 165, Kiel Institute for the World Economy (IfW Kiel).
    92. Farid, Moatazbellah, 2020. "The Effect of Brexit on UK Productivity: Synthetic Control Analysis," MPRA Paper 103165, University Library of Munich, Germany.
    93. Clifton-Sprigg, Joanna & Homburg, Ines & James, Jonathan & Vujic, Suncica, 2023. "A Bad Break-up? Assessing the Effects of the 2016 Brexit Referendum on Migration," IZA Discussion Papers 16468, Institute of Labor Economics (IZA).
    94. Jiang, Jiangang & Zhang, Jianhong, 2024. "National security review and ownership participation in cross-border acquisitions," International Business Review, Elsevier, vol. 33(6).
    95. Berg, Tobias & Saunders, Anthony & Schäfer, Larissa & Steffen, Sascha, 2021. "Brexit and the contraction of syndicated lending," Journal of Financial Economics, Elsevier, vol. 141(1), pages 66-82.
    96. Drinkwater, Stephen & Blackaby, David H. & Robinson, Catherine, 2024. "What Mattered Most in the Brexit Vote? Evidence from Detailed Regression and Decomposition Analysis," IZA Discussion Papers 16841, Institute of Labor Economics (IZA).
    97. Kai Fischer, 2023. "Skilled Labour Migration and Firm Performance: Evidence from English Hospitals and Brexit," CESifo Working Paper Series 10747, CESifo.
    98. Garcia-Lazaro, Aida & Mistak, Jakub & Gulcin Ozkan, F., 2021. "Supply chain networks, trade and the Brexit deal: a general equilibrium analysis," Journal of Economic Dynamics and Control, Elsevier, vol. 133(C).
    99. Kren, Janez & Lawless, Martina, 2022. "How Brexit has changed EU-UK trade flows," Papers WP735, Economic and Social Research Institute (ESRI).

  24. Corsetti, G. & Kuester, K & Müller, G. J., 2017. "Fixed on Flexible Rethinking Exchange Rate Regimes after the Great Recession," Cambridge Working Papers in Economics 1729, Faculty of Economics, University of Cambridge.

    Cited by:

    1. Alex Haberis & Anna Lipińska, 2020. "A Welfare‐Based Analysis of International Monetary Policy Spillovers at the Zero Lower Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(5), pages 1107-1145, August.
    2. Corsetti, G. & Mavroeidi, E. & Thwaites, G. & Wolf, M., 2016. "Step away from the zero lower bound: Small open economies in a world of secular stagnation," Cambridge Working Papers in Economics 1645, Faculty of Economics, University of Cambridge.
    3. Thomas Barnebeck Andersen, 2023. "The Cost of a Currency Peg during the Great Recession," Open Economies Review, Springer, vol. 34(2), pages 255-279, April.
    4. Corsetti, Giancarlo & Kuester, Keith & Müller, Gernot J. & Schmidt, Sebastian, 2021. "The exchange rate insulation puzzle," Working Paper Series 2630, European Central Bank.
    5. Terrones, Marco E., 2019. "Do Fixers Perform Worse than Non-Fixers during Global Recessions and Recoveries?," MPRA Paper 91783, University Library of Munich, Germany.
    6. Dąbrowski, Marek A. & Papież, Monika & Śmiech, Sławomir, 2021. "Output volatility and exchange rates: New evidence from the updated de facto exchange rate regime classifications," MPRA Paper 107133, University Library of Munich, Germany.
    7. Markus Brueckner & Evi Pappa & Ákos Valentinyi, 2023. "Geographic Cross‐Sectional Fiscal Spending Multipliers and the Role of Local Autonomy: Evidence from European Regions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(6), pages 1357-1396, September.
    8. Rohit, Abhishek Kumar & Dash, Pradyumna, 2019. "Dynamics of monetary policy spillover: The role of exchange rate regimes," Economic Modelling, Elsevier, vol. 77(C), pages 276-288.
    9. Pappa, Evi & Valentinyi, Akos & Brueckner, Markus, 2019. "Local Autonomy and Government Spending Multipliers: Evidence from European Regions," CEPR Discussion Papers 14106, C.E.P.R. Discussion Papers.
    10. Ali, Syed Zahid & Anwar, Sajid, 2022. "Risk-premium shocks and the prudent exchange rate policy," International Review of Economics & Finance, Elsevier, vol. 77(C), pages 97-122.
    11. Hettig, Thomas & Müller, Gernot J., 2018. "Fiscal policy coordination in currency unions at the effective lower bound," Journal of International Economics, Elsevier, vol. 115(C), pages 80-98.
    12. Victor Shevchuk & Roman Kopych, 2021. "Exchange Rate Volatility, Currency Misalignment, and Risk of Recession in the Central and Eastern European Countries," Risks, MDPI, vol. 9(5), pages 1-19, May.
    13. Maurice Obstfeld, 2020. "Harry Johnson's “Case for flexible exchange rates”—50 years later," Manchester School, University of Manchester, vol. 88(S1), pages 86-113, September.
    14. Lena Kraus & Jürgen Beier & Bernhard Herz, 2019. "Sudden stops in a currency union – some lessons from the euro area," Scottish Journal of Political Economy, Scottish Economic Society, vol. 66(1), pages 115-138, February.
    15. Tarashev, Nikola & Zabai, Anna, 2019. "When pegging is a commitment device: Revisiting conventional wisdom about currency crises," Journal of International Economics, Elsevier, vol. 118(C), pages 233-247.
    16. Schmidt, Sebastian, 2018. "Time-consistent monetary policy, terms of trade manipulation and welfare in open economies," Working Paper Series 2128, European Central Bank.

  25. Corsetti, Giancarlo & Kuester, Keith & Müller, Gernot J., 2017. "Fixed on flexible rethink exchange rate regimes after the Great Recession," LSE Research Online Documents on Economics 86154, London School of Economics and Political Science, LSE Library.

    Cited by:

    1. Alex Haberis & Anna Lipińska, 2020. "A Welfare‐Based Analysis of International Monetary Policy Spillovers at the Zero Lower Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(5), pages 1107-1145, August.
    2. Corsetti, G. & Mavroeidi, E. & Thwaites, G. & Wolf, M., 2016. "Step away from the zero lower bound: Small open economies in a world of secular stagnation," Cambridge Working Papers in Economics 1645, Faculty of Economics, University of Cambridge.
    3. Thomas Barnebeck Andersen, 2023. "The Cost of a Currency Peg during the Great Recession," Open Economies Review, Springer, vol. 34(2), pages 255-279, April.
    4. Corsetti, Giancarlo & Kuester, Keith & Müller, Gernot J. & Schmidt, Sebastian, 2021. "The exchange rate insulation puzzle," Working Paper Series 2630, European Central Bank.
    5. Terrones, Marco E., 2019. "Do Fixers Perform Worse than Non-Fixers during Global Recessions and Recoveries?," MPRA Paper 91783, University Library of Munich, Germany.
    6. Dąbrowski, Marek A. & Papież, Monika & Śmiech, Sławomir, 2021. "Output volatility and exchange rates: New evidence from the updated de facto exchange rate regime classifications," MPRA Paper 107133, University Library of Munich, Germany.
    7. Markus Brueckner & Evi Pappa & Ákos Valentinyi, 2023. "Geographic Cross‐Sectional Fiscal Spending Multipliers and the Role of Local Autonomy: Evidence from European Regions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(6), pages 1357-1396, September.
    8. Rohit, Abhishek Kumar & Dash, Pradyumna, 2019. "Dynamics of monetary policy spillover: The role of exchange rate regimes," Economic Modelling, Elsevier, vol. 77(C), pages 276-288.
    9. Pappa, Evi & Valentinyi, Akos & Brueckner, Markus, 2019. "Local Autonomy and Government Spending Multipliers: Evidence from European Regions," CEPR Discussion Papers 14106, C.E.P.R. Discussion Papers.
    10. Ali, Syed Zahid & Anwar, Sajid, 2022. "Risk-premium shocks and the prudent exchange rate policy," International Review of Economics & Finance, Elsevier, vol. 77(C), pages 97-122.
    11. Hettig, Thomas & Müller, Gernot J., 2018. "Fiscal policy coordination in currency unions at the effective lower bound," Journal of International Economics, Elsevier, vol. 115(C), pages 80-98.
    12. Maurice Obstfeld, 2020. "Harry Johnson's “Case for flexible exchange rates”—50 years later," Manchester School, University of Manchester, vol. 88(S1), pages 86-113, September.
    13. Tarashev, Nikola & Zabai, Anna, 2019. "When pegging is a commitment device: Revisiting conventional wisdom about currency crises," Journal of International Economics, Elsevier, vol. 118(C), pages 233-247.

  26. Müller, Gernot, 2017. "Fiscal policy coordination in currency unions at the effective lower bound," CEPR Discussion Papers 11780, C.E.P.R. Discussion Papers.

    Cited by:

    1. Equiza-Goni, J. & Faraglia, E. & Oikonomou, R., 2018. "Union Debt Management," Cambridge Working Papers in Economics 1890, Faculty of Economics, University of Cambridge.
    2. Christian Bayer & Alexander Kriwoluzky & Gernot J. Müller & Fabian Seyrich, 2023. "A HANK² Model of Monetary Unions," CRC TR 224 Discussion Paper Series crctr224_2023_449, University of Bonn and University of Mannheim, Germany.
    3. Jaume Ventura & Alberto Martin & Fernando Broner, 2020. "On Public Spending and Economic Unions," Working Papers 1167, Barcelona School of Economics.
    4. Karamysheva, Madina, 2022. "How do fiscal adjustments work? An empirical investigation," Journal of Economic Dynamics and Control, Elsevier, vol. 137(C).
    5. Lydia Cox & Gernot Müller & Ernesto Pastén & Raphael Schoenle & Michael Weber, 2020. "Big G," NBER Working Papers 27034, National Bureau of Economic Research, Inc.
      • Lydia Cox & Gernot Muller & Ernesto Pasten & Raphael Schoenle & Michael Weber, 2020. "Big G," Working Papers Central Bank of Chile 878, Central Bank of Chile.
      • Lydia Cox & Gernot J. Müller & Ernesto Pasten & Raphael Schoenle & Michael Weber, 2020. "Big G," Working Papers 2020-36, Becker Friedman Institute for Research In Economics.
      • Lydia Cox & Gernot J. Müller & Ernesto Pasten & Raphael Schoenle, 2020. "Big G," Working Papers 20-15, Federal Reserve Bank of Cleveland.
      • Lydia Cox & Gernot Müller & Ernesto Pasten & Raphael S. Schoenle & Michael Weber & Michael Weber, 2020. "Big G," CESifo Working Paper Series 8229, CESifo.
      • Lydia Cox & Gernot J. Müller & Ernesto Pastén & Raphael Schoenle & Michael Weber, 2024. "Big G," Journal of Political Economy, University of Chicago Press, vol. 132(10), pages 3260-3297.
      • Schoenle, Raphael & Müller, Gernot & Pasten, Ernesto & Weber, Michael, 2020. "Big G," CEPR Discussion Papers 14625, C.E.P.R. Discussion Papers.
    6. Beetsma, Roel & Cimadomo, Jacopo & van Spronsen, Josha, 2022. "One scheme fits all: a central fiscal capacity for the EMU targeting eurozone, national and regional shocks," Working Paper Series 2666, European Central Bank.
    7. Atanas Pekanov, 2018. "The New View on Fiscal Policy and its Implications for the European Monetary Union," WIFO Working Papers 562, WIFO.
    8. Stefanie Flotho, 2018. "Interaction of fiscal and monetary policy in a monetary union under the zero lower bound constraint," Annals of Operations Research, Springer, vol. 260(1), pages 159-196, January.
    9. David Cook & Michael B. Devereux, 2018. "Fiscal Policy in a Currency Union at the Zero Lower Bound," ADBI Working Papers 801, Asian Development Bank Institute.
    10. Marco Rojas, 2022. "Monetary Policy in Small Open Economies and the International Zero Lower Bound," Working Papers Central Bank of Chile 966, Central Bank of Chile.
    11. Atanas Pekanov, 2019. "Policy Brief: Past and Present of EMU Reform. Reforming the Euro Area – The Road Not (Yet) Taken," WIFO Studies, WIFO, number 61850, October.

  27. Giancarlo Corsetti & Keith Kuester & Gernot J. Müller, 2016. "The Case for Flexible Exchange Rates in a Great Recession," Cambridge Working Papers in Economics 1644, Faculty of Economics, University of Cambridge.

    Cited by:

    1. Lepetyuk, Vadym & Maliar, Serguei, 2019. "When the U.S. catches a cold, Canada sneezes: a lower-bound tale told by deep learning," CEPR Discussion Papers 14025, C.E.P.R. Discussion Papers.
    2. Corsetti, G. & Mavroeidi, E. & Thwaites, G. & Wolf, M., 2016. "Step away from the zero lower bound: Small open economies in a world of secular stagnation," Cambridge Working Papers in Economics 1645, Faculty of Economics, University of Cambridge.
    3. Thomas Barnebeck Andersen, 2023. "The Cost of a Currency Peg during the Great Recession," Open Economies Review, Springer, vol. 34(2), pages 255-279, April.
    4. Perri, Fabrizio & Amador, Manuel & Bocola, Luigi & Bianchi, Javier, 2017. "Exchange Rate Policies at the Zero Lower Bound," CEPR Discussion Papers 11928, C.E.P.R. Discussion Papers.
    5. Vadym Lepetyuk & Lilia Maliar & Serguei Maliar, 2017. "Should Central Banks Worry About Nonlinearities of their Large-Scale Macroeconomic Models?," Staff Working Papers 17-21, Bank of Canada.

  28. Müller, Gernot & Pfeifer, Johannes & Born, Benjamin, 2015. "Does austerity pay off?," CEPR Discussion Papers 10425, C.E.P.R. Discussion Papers.

    Cited by:

    1. Lemoine, Matthieu & Lindé, Jesper, 2016. "Fiscal Consolidation Under Imperfect Credibility," Working Paper Series 322, Sveriges Riksbank (Central Bank of Sweden).
    2. Born, Benjamin & Müller, Gernot & Pfeifer, Johannes & Wellmann, Susanne, 2020. "Different no more: Country spreads in advanced and emerging economies," CEPR Discussion Papers 14392, C.E.P.R. Discussion Papers.
    3. Nicholas E. Karavitis, 2018. "Fiscal adjustment and debt sustainability: Greece 2010-2016 and beyond," Working Papers 245, Bank of Greece.
    4. Rüdiger Bachmann & Sebastian K. Rüth, 2020. "Systematic Monetary Policy And The Macroeconomic Effects Of Shifts In Residential Loan‐To‐Value Ratios," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 61(2), pages 503-530, May.
    5. Valencia, Oscar & Gamboa-Arbeláez, Juliana & Sánchez, Gustavo, 2024. "Debt erosion: Asymmetric response to demand and supply shocks," International Review of Economics & Finance, Elsevier, vol. 96(PA).
    6. Vybhavi Balasundharam & Olivier Basdevant & Dalmacio Benicio & Andrew Ceber & Yujin Kim & Luca Mazzone & Hoda Selim & Yongzheng Yang, 2023. "Fiscal Consolidation: Taking Stock of Success Factors, Impact, and Design," IMF Working Papers 2023/063, International Monetary Fund.
    7. Beetsma, Roel & Furtuna, Oana & Giuliodori, Massimo & Mumtaz, Haroon, 2021. "Revenue- versus spending-based fiscal consolidation announcements: Multipliers and follow-up," Journal of International Economics, Elsevier, vol. 131(C).
    8. Benjamin Born & Francesco D’Ascanio & Gernot J. Müller & Johannes Pfeifer, 2024. "Mr. Keynes Meets the Classics: Government Spending and the Real Exchange Rate," Journal of Political Economy, University of Chicago Press, vol. 132(5), pages 1642-1683.
    9. Rüth, Sebastian K. & Simon, Camilla, 2022. "How do income and the debt position of households propagate fiscal stimulus into consumption?," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    10. Surico, P. & Trezzi, R., 2016. "Consumer Spending and Fiscal Consolidation: Evidence from a Housing Tax Experiment," Cambridge Working Papers in Economics 1648, Faculty of Economics, University of Cambridge.
    11. Klein, Mathias & Winkler, Roland, 2017. "Austerity, Inequality, and Private Debt Overhang," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168076, Verein für Socialpolitik / German Economic Association.
    12. David, Antonio C. & Guajardo, Jaime & Yepez, Juan F., 2022. "The rewards of fiscal consolidations: Sovereign spreads and confidence effects," Journal of International Money and Finance, Elsevier, vol. 123(C).
    13. Christian Bayer & Benjamin Born & Ralph Luetticke & Gernot J Müller, 2023. "The Coronavirus Stimulus Package: How Large is the Transfer Multiplier," The Economic Journal, Royal Economic Society, vol. 133(652), pages 1318-1347.
    14. Valeria Cirillo & Marcella Corsi & Carlo D’Ippoliti & Lucio Gobbi, 2024. "Asymmetric effects of macro policies on women’s and men’s incomes. An empirical investigation of the eurozone crisis in a gender perspective," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 41(2), pages 327-359, July.
    15. Stefan Niemann & Paul Pichler, 2020. "Online Appendix to "Optimal fiscal policy and sovereign debt crises"," Online Appendices 18-382, Review of Economic Dynamics.
    16. Adrian Chadi & Matthias Krapf, 2015. "The Protestant Fiscal Ethic: Religious Confession and Euro Skepticism in Germany," SOEPpapers on Multidisciplinary Panel Data Research 754, DIW Berlin, The German Socio-Economic Panel (SOEP).
    17. Matthieu Darracq Paries & Georg Muller & Niki Papadopoulou, 2022. "Fiscal Multipliers with Sovereign Risk and Fragile Banks," Working Papers 2022-5, Central Bank of Cyprus.
    18. Gustav A. Horn & Sebastian Gechert & Alexander Herzog-Stein & Peter Hohlfeld & Fabian Lindner & Ansgar Rannenberg & Sabine Stephan & Thomas Theobald & Silke Tober, 2015. "Im Aufschwung - Prognose der wirtschaftlichen Entwicklung 2015/2016," IMK Report 104-2015, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    19. Hayley Pallan, 2022. "Sovereign Spreads and Corporate Taxation," IHEID Working Papers 15-2022, Economics Section, The Graduate Institute of International Studies.
    20. Carolina Correa-Caro & Leandro Medina & Marcos Poplawski-Ribeiro & Bennett Sutton, 2021. "Fiscal Stimulus and Firms’ Sales and Capital Expenditure During the Global Financial Crisis," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 63(3), pages 489-535, September.
    21. Oliver Hülsewig & Horst Rottmann, 2020. "Euro Area Periphery Countries' Fiscal Policy and Monetary Policy Surprises," CESifo Working Paper Series 8041, CESifo.
    22. Corbisiero, Giuseppe, 2022. "Bank lending, collateral, and credit traps in a monetary union," European Economic Review, Elsevier, vol. 144(C).
    23. Immaculate Machasio & Peter Tillmann, 2016. "Remittance Infl ows and State-Dependent Monetary Policy Transmission in Developing Countries," MAGKS Papers on Economics 201638, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    24. Mr. Serhan Cevik & João Tovar Jalles, 2023. "Restructuring Reforms for Green Growth," IMF Working Papers 2023/120, International Monetary Fund.
    25. Branimir Jovanovic, 2013. "Growth Forecast Errors and Government Investment and Consumption Multipliers," CEIS Research Paper 301, Tor Vergata University, CEIS, revised 17 Dec 2013.
    26. Andrea Tafuro, 2024. "Lagging behind: the hysteresis of austerity," Empirical Economics, Springer, vol. 66(1), pages 327-368, January.
    27. Piotr Ciżkowicz & Grzegorz Parosa & Andrzej Rzońca, 2022. "Fiscal tensions and risk premium," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 49(3), pages 833-896, August.
    28. Mathias Klein, 2016. "Austerity and Private Debt," Discussion Papers of DIW Berlin 1611, DIW Berlin, German Institute for Economic Research.
    29. Rüth, Sebastian K., 2017. "State-dependent monetary policy transmission and financial market tensions," Economics Letters, Elsevier, vol. 157(C), pages 56-61.
    30. Darracq Pariès, Matthieu & Müller, Georg & Papadopoulou, Niki, 2023. "Fiscal multipliers within the euro area in the context of sovereign risk and bank fragility," Economic Modelling, Elsevier, vol. 126(C).
    31. Sophie Brana & Quentin Bro de Comères & Anne-Gaël Vaubourg, 2024. "How Do Analyst Recommendations on Banks Respond to Monetary Policy News? An Application to the Eurozone," Post-Print hal-04986898, HAL.
    32. Stefan Niemann & Paul Pichler, 2017. "Optimal fiscal policy and sovereign debt crises," Working Papers 218, Oesterreichische Nationalbank (Austrian Central Bank).
    33. Rasmus Wiese & Jakob de Haan & João Tovar Jalles, 2023. "The impact of endogenous product and labour market reforms on unemployment: New evidence based on local projections," Working Papers REM 2023/0296, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    34. Froemel, Maren & Paczos, Wojtek, 2024. "Imperfect Financial Markets and the Cyclicality of Social Spending," Cardiff Economics Working Papers E2024/3, Cardiff University, Cardiff Business School, Economics Section.
    35. R diger Bachmann & Sebastian R th, 2017. "Systematic Monetary Policy And The Macroeconomic Effects Of Shifts In Loan-To-Value Ratios," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 17/934, Ghent University, Faculty of Economics and Business Administration.
    36. Atanas Pekanov, 2018. "The New View on Fiscal Policy and its Implications for the European Monetary Union," WIFO Working Papers 562, WIFO.
    37. Gonçalves, Sílvia & Herrera, Ana María & Kilian, Lutz & Pesavento, Elena, 2024. "State-dependent local projections," Journal of Econometrics, Elsevier, vol. 244(2).
    38. Christopher L. House & Christian Proebsting & Linda L. Tesar, 2017. "Austerity in the Aftermath of the Great Recession," NBER Working Papers 23147, National Bureau of Economic Research, Inc.
    39. Born, Benjamin & Müller, Gernot & Pfeifer, Johannes, 2014. "Does austerity pay off?," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100301, Verein für Socialpolitik / German Economic Association.
    40. Mathias Klein, 2017. "Austerity and Private Debt," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(7), pages 1555-1585, October.
    41. Hristov, Nikolay & Roth, Markus, 2022. "Uncertainty shocks and systemic-risk indicators," Journal of International Money and Finance, Elsevier, vol. 122(C).
    42. Jorge Pablo Puig & Martin Ardanaz & Eduardo Cavallo & Alejandro Izquierdo, 2021. "Output effects of fiscal consolidations: does spending composition matter?," Asociación Argentina de Economía Política: Working Papers 4507, Asociación Argentina de Economía Política.
    43. Beetsma, Roel & Furtuna, Oana & Giuliodori, Massimo & Mumtaz, Haroon, 2017. "Revenue- versus spending-based fiscal consolidation announcements: follow-up, multipliers and confidence," CEPR Discussion Papers 12133, C.E.P.R. Discussion Papers.
    44. Duque Gabriel, Ricardo & Klein, Mathias & Pesso, Ana Sofia, 2020. "The Effects of Government Spending in the Eurozone," Working Paper Series 400, Sveriges Riksbank (Central Bank of Sweden).
    45. Paul Rudel, 2024. "Loan Supply Shocks, Prudential Regulation, and the Business Cycle," MAGKS Papers on Economics 202409, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    46. Keyser, Alice & Paczos, Wojtek, 2023. "Sovereign risk, debt composition and exchange rate regimes," Finance Research Letters, Elsevier, vol. 58(PB).
    47. Serhan Cevik, João Tovar Jalles, 2023. "Restructuring Reforms for Green Growth," Working Papers REM 2023/0278, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    48. Alfredo Arahuetes García & Gonzalo Gómez Bengoechea, 2022. "Back to the Future: Lessons from the 2009–2012 austerity policies for the aftermath of the COVID crisis," Global Policy, London School of Economics and Political Science, vol. 13(5), pages 751-766, November.
    49. Bi, Huixin & Shen, Wenyi & Yang, Shu-Chun S., 2016. "Debt-dependent effects of fiscal expansions," European Economic Review, Elsevier, vol. 88(C), pages 142-157.
    50. Davtyan, Karen, 2017. "The distributive effect of monetary policy: The top one percent makes the difference," Economic Modelling, Elsevier, vol. 65(C), pages 106-118.
    51. Beetsma, Roel & Furtuna, Oana & Giuliodori, Massimo, 2018. "Revenue- versus spending-based consolidation plans: the role of follow-up," Working Paper Series 2178, European Central Bank.
    52. David Finck & Peter Tillmann, 2022. "Pandemic Shocks and Household Spending," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(2), pages 273-299, April.
    53. Ağca, Şenay & Igan, Deniz, 2019. "Fiscal consolidations and the cost of credit," Journal of International Economics, Elsevier, vol. 120(C), pages 84-108.
    54. Sebastian Gechert & Ansgar Rannenberg, 2015. "The Costs of Greece's Fiscal Consolidation," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 84(3), pages 47-59.
    55. Klein, Mathias, 2016. "Austerity and Private Debt," VfS Annual Conference 2016 (Augsburg): Demographic Change 145681, Verein für Socialpolitik / German Economic Association.
    56. David Finck & Peter Tillmann, 2020. "Pandemic Shocks and Household Spending," MAGKS Papers on Economics 202036, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    57. Philipp Heimberger, 2025. "The new EU fiscal framework: Implications for public spending on the green and digital transition," wiiw Policy Notes 94, The Vienna Institute for International Economic Studies, wiiw.
    58. Hjortsoe, Ida & Weale, Martin & Wieladek, Tomasz, 2018. "How does financial liberalisation affect the influence of monetary policy on the current account?," Journal of International Money and Finance, Elsevier, vol. 85(C), pages 93-123.
    59. Sheng, Xuguang Simon & Sukaj, Rubena, 2021. "Identifying external debt shocks in low- and middle-income countries," Journal of International Money and Finance, Elsevier, vol. 110(C).
    60. Stracca, Livio & Kalbhenn, Anna, 2015. "Does fiscal austerity affect public opinion?," Working Paper Series 1774, European Central Bank.

  29. Müller, Gernot Johannes & Hettig, Thomas & Mueller, Gernot, 2015. "Fiscal policy coordination in currency unions (at the zero lower bound)," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 112826, Verein für Socialpolitik / German Economic Association.

    Cited by:

    1. Nasir, Muhammad Ali, 2021. "Zero Lower Bound and negative interest rates: Choices for monetary policy in the UK," Journal of Policy Modeling, Elsevier, vol. 43(1), pages 200-229.
    2. David Cook & Michael B. Devereux, 2018. "Fiscal Policy in a Currency Union at the Zero Lower Bound," ADBI Working Papers 801, Asian Development Bank Institute.

  30. Müller, Gernot & Wolf, Martin & Kuvshinov, Dmitry, 2015. "Deleveraging, deflation and depreciation in the euro area," CEPR Discussion Papers 11015, C.E.P.R. Discussion Papers.

    Cited by:

    1. Alice Albonico & Alessia Paccagnini & Patrizio Tirelli, 2017. "PIIGS in the Euro area: An empirical DSGE model," Discussion Papers in Economics economics:201710, Griffith University, Department of Accounting, Finance and Economics.
    2. Guilherme Bandeira & Evi Pappa & Rana Sajedi & Eugenia Vella, 2018. "Fiscal Consolidation in a Low-Inflation Environment: Pay Cuts versus Lost Jobs," International Journal of Central Banking, International Journal of Central Banking, vol. 14(3), pages 7-52, June.
    3. Kriwoluzky, Alexander & Müller, Gernot J. & Wolf, Martin, 2019. "Exit expectations and debt crises in currency unions," Journal of International Economics, Elsevier, vol. 121(C).
    4. Marta Gómez-Puig & Simón Sosvilla-Rivero, 2017. "Nonfinancial debt and economic growth in euro-area countries," Working Papers del Instituto Complutense de Estudios Internacionales 1708, Universidad Complutense de Madrid, Instituto Complutense de Estudios Internacionales.
    5. Albonico, Alice & Tirelli, Patrizio, 2020. "Financial crises and sudden stops: Was the European monetary union crisis different?," Economic Modelling, Elsevier, vol. 93(C), pages 13-26.
    6. Juan Carlos Berganza & Pedro del Río & Fructuoso Borrallo, 2016. "Determinants and implications of low global inflation rates," Occasional Papers 1608, Banco de España.
    7. Kollmann, Robert & Leeper, Eric & Roeger, Werner, 2016. "The Post-Crisis Slump," MPRA Paper 71291, University Library of Munich, Germany.

  31. Müller, Gernot & Kriwoluzky, Alexander & Wolf, Martin, 2015. "Exit expectations and debt crises in currency unions," CEPR Discussion Papers 10817, C.E.P.R. Discussion Papers.

    Cited by:

    1. Christian Keuschnigg & Linda Kirschner & Michael Kogler & Hannah Winterberg, 2020. "Italy in the Eurozone," CESifo Working Paper Series 8416, CESifo.
    2. Eijffinger, Sylvester & Kobielarz, Michal & Uras, Burak, 2018. "Sovereign default, exit and contagion in a monetary union," Other publications TiSEM d1844a19-c4eb-4443-a4c2-5, Tilburg University, School of Economics and Management.
    3. Saito, Yuta, 2025. "Exit expectations and the optimal design of a currency union," Economics Letters, Elsevier, vol. 247(C).
    4. Roch, Francisco & Uhlig, Harald, 2018. "The dynamics of sovereign debt crises and bailouts," Journal of International Economics, Elsevier, vol. 114(C), pages 1-13.
    5. Kobielarz, Michal, 2018. "The economics of monetary unions," Other publications TiSEM b0293536-68ec-4905-bffd-6, Tilburg University, School of Economics and Management.
    6. Müller, Gernot & Kuester, Keith & Corsetti, Giancarlo, 2016. "The Case for Flexible Exchange Rates in a Great Recession," CEPR Discussion Papers 11432, C.E.P.R. Discussion Papers.
    7. Keuschnigg, Christian, 2022. "Monetary Union, Asymmetric Recession, and Exit," Economics Working Paper Series 2206, University of St. Gallen, School of Economics and Political Science.
    8. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2020. "Macroeconomic policy lessons for Greece," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 152, Hellenic Observatory, LSE.
    9. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2020. "Macroeconomic Policy Lessons for Greece from the Debt Crisis," CESifo Working Paper Series 8188, CESifo.
    10. Eichler, Stefan & Rövekamp, Ingmar, 2017. "Eurozone exit risk," CEPIE Working Papers 07/17, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
    11. Jens Klose, 2019. "Measuring Redenomination Risks in the Euro Area - New Evidence from Survey Data," MAGKS Papers on Economics 201903, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    12. Dimakopoulou, Vasiliki & Economides, George & Philippopoulos, Apostolis, 2022. "The ECB's policy, the Recovery Fund and the importance of trust and fiscal corrections: The case of Greece," Economic Modelling, Elsevier, vol. 112(C).
    13. Schuster, Florian, 2023. "Spreads auf Staatsanleihezinsen, der EZB-Sicherheitenrahmen und Peripherieprämien in der Eurozone," Papers 277910, Dezernat Zukunft - Institute for Macrofinance, Berlin.
    14. Kriwoluzky, Alexander & Müller, Gernot J. & Wolf, Martin, 2019. "Exit expectations and debt crises in currency unions," Journal of International Economics, Elsevier, vol. 121(C).
    15. Yuta Saito, 2022. "A Note on Time Inconsistency and Endogenous Exits from a Currency Union," Games, MDPI, vol. 13(2), pages 1-8, February.
    16. Zuzana Rowland & George Lazaroiu & Ivana Podhorská, 2020. "Use of Neural Networks to Accommodate Seasonal Fluctuations When Equalizing Time Series for the CZK/RMB Exchange Rate," Risks, MDPI, vol. 9(1), pages 1-21, December.
    17. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2021. "Austerity, Assistance and Institutions: Lessons from the Greek Sovereign Debt Crisis," Open Economies Review, Springer, vol. 32(3), pages 435-478, July.
    18. Tholl, Johannes & Schwarzbach, Christoph & Pittalis, Sandro & von Mettenheim, Hans-Jörg, 2020. "Bank funding and the recent political development in Italy: What about redenomination risk?," International Review of Law and Economics, Elsevier, vol. 64(C).
    19. Kobielarz, M.L., 2023. "Bailout dynamics in a monetary union," Journal of International Economics, Elsevier, vol. 142(C).
    20. Bayer, Christian & Kim, Chi Hyun & Kriwoluzky, Alexander, 2018. "The term structure of redenomination risk," CEPR Discussion Papers 12965, C.E.P.R. Discussion Papers.
    21. Gupta, Ankit & Davis, Matthew & Kumar, Amit, 2021. "An integrated assessment framework for the decarbonization of the electricity generation sector," Applied Energy, Elsevier, vol. 288(C).
    22. Toyofuku, Kenta, 2021. "Unit of account, sovereign debt, and optimal currency area," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    23. Dennis Bonam & Bart Hobijn, 2021. "Generalized Stability of Monetary Unions Under Regime Switching in Monetary and Fiscal Policies," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(1), pages 73-94, February.
    24. Roberto A. De Santis, 2019. "Redenomination Risk," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(8), pages 2173-2206, December.
    25. Arvai, Kai, 2024. "The political economy of currency unions," Journal of International Economics, Elsevier, vol. 152(C).
    26. Vasiliki Dimakopoulou & George Economides & Apostolis Philippopoulos, 2021. "The ECB's Policy, the Recovery Fund and the Importance of Trust: The Case of Greece," CESifo Working Paper Series 9371, CESifo.
    27. Augustin, Patrick & Boustanifar, Hamid & Breckenfelder, Johannes & Schnitzler, Jan, 2016. "Sovereign to corporate risk spillovers," Working Paper Series 1878, European Central Bank.
    28. Schuster, Florian, 2023. "Sovereign spreads, central bank collateral frameworks, and periphery premia in the Eurozone," Papers 277915, Dezernat Zukunft - Institute for Macrofinance, Berlin.
    29. Mitchener, Kris & Trebesch, Christoph, 2021. "Sovereign Debt in the 21st Century: Looking Backward, Looking Forward," CEPR Discussion Papers 15935, C.E.P.R. Discussion Papers.
    30. Kai Arvai, 2021. "The Political Economy of Currency Unions," Working papers 850, Banque de France.

  32. Zeno Enders & Michael Kleemann & Gernot Müller, 2013. "Growth Expectations, Undue Optimism, and Short-Run Fluctuations," CESifo Working Paper Series 4548, CESifo.

    Cited by:

    1. Zeno Enders & Franziska Hünnekes & Gernot Müller, 2019. "Firm expectations and economic activity," CESifo Working Paper Series 7623, CESifo.
    2. Görtz, Christoph & Yeromonahos, Mallory, 2022. "Asymmetries in risk premia, macroeconomic uncertainty and business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 137(C).
    3. Dietmar Fehr & Frank Heinemann & Aniol Llorente-Saguer, 2013. "The power of sunspots: an experimental analysis," Working Papers 13-2, Federal Reserve Bank of Boston.
    4. Benjamin Born & Zeno Enders & Manuel Menkhoff & Gernot J. Müller & Knut Niemann, 2023. "Firm Expectations and News: Micro v Macro," ifo Working Paper Series 400, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    5. Marco Brianti & Vito Cormun, 2023. "Expectation-Driven Boom-Bust Cycles," Working Papers 2023-4, University of Alberta, Department of Economics.
    6. Link, Sebastian & Peichl, Andreas & Roth, Christopher & Wohlfart, Johannes, 2023. "Information frictions among firms and households," Journal of Monetary Economics, Elsevier, vol. 135(C), pages 99-115.
    7. Hilde C. Bjørnland & Roberto Casarin & Marco Lorusso & Francesco Ravazzolo, 2023. "Fiscal Policy Regimes in Resource-Rich Economies," Working Papers No 13/2023, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
    8. Paul Beaudry & Tim Willems, 2018. "On the Macroeconomic Consequences of Over-Optimism," IMF Working Papers 2018/122, International Monetary Fund.
    9. Laura Nowzohour & Livio Stracca, 2020. "More Than A Feeling: Confidence, Uncertainty, And Macroeconomic Fluctuations," Journal of Economic Surveys, Wiley Blackwell, vol. 34(4), pages 691-726, September.
    10. Nahiyan Azad & Apostolos Serletis, 2022. "Market Shocks in the G7 Countries," Open Economies Review, Springer, vol. 33(1), pages 33-60, February.
    11. Benhima, Kenza & Poilly, Céline, 2021. "Does demand noise matter? Identification and implications," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 278-295.
    12. Dietrich, Alexander M. & Müller, Gernot J. & Schoenle, Raphael S., 2024. "Big news: Climate-disaster expectations and the business cycle," Journal of Economic Behavior & Organization, Elsevier, vol. 227(C).
    13. Enders, Zeno & Peter, Alexandra, 2015. "Global Banking, Trade, and the International Transmission of the Great Recession," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113022, Verein für Socialpolitik / German Economic Association.
    14. Kenza Benhima & Céline Poilly, 2017. "Do Misperceptions about Demand Matter? Theory and Evidence," Cahiers de Recherches Economiques du Département d'économie 17.08, Université de Lausanne, Faculté des HEC, Département d’économie.
    15. Dées, Stephane & Zimic, Srečko, 2019. "Animal spirits, fundamental factors and business cycle fluctuations," Journal of Macroeconomics, Elsevier, vol. 61(C), pages 1-1.
    16. Bachmann, Rüdiger & Gödl-Hanisch, Isabel & Sims, Eric R., 2022. "Identifying monetary policy shocks using the central bank’s information set," Journal of Economic Dynamics and Control, Elsevier, vol. 145(C).
    17. Nicolas Reigl, 2023. "Noise shocks and business cycle fluctuations in three major European Economies," Empirical Economics, Springer, vol. 64(2), pages 603-657, February.
    18. An, Zidong & Sheng, Xuguang Simon & Zheng, Xinye, 2023. "What is the role of perceived oil price shocks in inflation expectations?," Energy Economics, Elsevier, vol. 126(C).
    19. Masolo, Riccardo M. & Paccagnini, Alessia, 2015. "Identifying noise shocks: a VAR with data revisions," LSE Research Online Documents on Economics 86314, London School of Economics and Political Science, LSE Library.
    20. Raffaella Giacomini & Katja Smetanina & Jason Lu, 2024. "Perceived shocks and impulse responses," IFS Working Papers WCWP21/24, Institute for Fiscal Studies.
    21. Thierry U. Kame Babilla, 2024. "Bank‐lending channel of monetary policy transmission in WAEMU: An estimated DSGE model approach," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(2), pages 1277-1300, April.
    22. Minwook Kang & Lei Sandy Ye, 2021. "Can Optimism be a Remedy for Present Bias?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(1), pages 201-231, February.
    23. Raffaella Giacomini & Jason Lu & Katja Smetanina, 2024. "Perceived shocks and impulse responses," CeMMAP working papers 21/24, Institute for Fiscal Studies.

  33. Corsetti, Giancarlo & Müller, Gernot & Kuester, Keith & Meier, André, 2013. "Sovereign risk and belief-driven fluctuations in the euro area," CEPR Discussion Papers 9723, C.E.P.R. Discussion Papers.

    Cited by:

    1. Kirchner, Markus & Rieth, Malte, 2020. "Sovereign default risk, macroeconomic fluctuations and monetary-fiscal stabilisation," IWH Discussion Papers 22/2020, Halle Institute for Economic Research (IWH).
    2. Woodford, Michael & Cúrdia, Vasco, 2015. "Credit Frictions and Optimal Monetary Policy," CEPR Discussion Papers 11016, C.E.P.R. Discussion Papers.
    3. Piotr Ciżkowicz & Andrzej Rzońca & Rafał Trzeciakowski, 2015. "Membership in the Euro area and fiscal sustainability - Analysis through panel fiscal reaction functions," a/ Working Papers Series 1501, Italian Association for the Study of Economic Asymmetries, Rome (Italy).
    4. Mats Persson, 2016. "Debts, Deficits and Multiple Equilibria: A New Role for ECB Monetary Policy?," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 17(01), pages 63-71, April.
    5. Barbieri Hermitte, Riccardo & Cagnazzo, Alberto & Favero, Carlo A. & Felici, Francesco & Macauda, Valeria & Nucci, Francesco & Tegami, Cristian, 2023. "ITFIN: A stock-flow consistent model for the Italian economy," Economic Modelling, Elsevier, vol. 119(C).
    6. Candelon, Bertrand & Luisi , Angelo & Roccazzella, Francesco, 2021. "Fragmentation in the European Monetary Union: Is it really over?," LIDAM Discussion Papers LFIN 2021015, Université catholique de Louvain, Louvain Finance (LFIN).
    7. Philippe Martin & Thomas Philippon, 2017. "Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone," American Economic Review, American Economic Association, vol. 107(7), pages 1904-1937, July.
    8. Hauptmeier, Sebastian & Kamps, Christophe, 2022. "Debt policies in the aftermath of COVID-19 — The SGP’s debt benchmark revisited," European Journal of Political Economy, Elsevier, vol. 75(C).
    9. Jørgen Bølstad & Christoph Elhardt, 2015. "To bail out or not to bail out? Crisis politics, credibility, and default risk in the Eurozone," European Union Politics, , vol. 16(3), pages 325-346, September.
    10. Eijffinger, Sylvester & Kobielarz, Michal & Uras, Burak, 2018. "Sovereign default, exit and contagion in a monetary union," Other publications TiSEM d1844a19-c4eb-4443-a4c2-5, Tilburg University, School of Economics and Management.
    11. Corsetti, G. & Dedola, L. & Jarocinsk, M. & Mackowiak, B., 2016. "Macroeconomic Stabilization, Monetary-fiscal Interactions, and Europe’s monetary Union," Cambridge Working Papers in Economics 1675, Faculty of Economics, University of Cambridge.
    12. Auray Stéphane & Eyquem Aurélien & Mairesse Xiaofei, 2017. "Banks, Sovereign Risk and Unconventional Monetary Policies," Working Papers 2017-60, Center for Research in Economics and Statistics.
    13. Tsiaras, Stylianos, 2023. "Asset purchases, limited asset markets participation and inequality," Journal of Economic Dynamics and Control, Elsevier, vol. 154(C).
    14. Badarau, Cristina & Huart, Florence & Sangaré, Ibrahima, 2021. "Macroeconomic and policy implications of eurobonds," International Review of Law and Economics, Elsevier, vol. 65(C).
    15. Yong Jin Kim & Chul‐In Lee, 2019. "Sovereign Debt Crisis In A Monetary Union: Accounting For Excessive Debt, Housing Bubbles, And The Transmission Of Crises," Economic Inquiry, Western Economic Association International, vol. 57(2), pages 1098-1119, April.
    16. Stefan Niemann & Paul Pichler, 2020. "Online Appendix to "Optimal fiscal policy and sovereign debt crises"," Online Appendices 18-382, Review of Economic Dynamics.
    17. Agénor, Pierre-Richard & Jackson, Timothy & Jia, Pengfei, 2021. "Macroprudential policy coordination in a currency union," European Economic Review, Elsevier, vol. 137(C).
    18. Stéphane Auray & Aurélien Eyquem, 2017. "On the Role of Debt Maturity in a Model with Sovereign Risk and Financial Frictions," Working Papers halshs-01467214, HAL.
    19. Christian Grisse & Gisle J. Natvik, 2022. "Sovereign debt crises and cross-country assistance [A pyrrhic victory? Bank bailouts and sovereign credit risk]," Oxford Economic Papers, Oxford University Press, vol. 74(1), pages 178-193.
    20. Erica Perego, 2018. "Sovereign Risk and Asset Market Dynamics in the Euro Area," Working Papers 2018-18, CEPII research center.
    21. Dorian Noel & Prosper Bangwayo-Skeete & Justin Robinson & Michael Brei, 2021. "Sovereign risk spill-overs in the banking sectors of Central America and the Caribbean," Post-Print hal-03592667, HAL.
    22. Kobielarz, Michal, 2018. "The economics of monetary unions," Other publications TiSEM b0293536-68ec-4905-bffd-6, Tilburg University, School of Economics and Management.
    23. Hale, Galina & Bevilaqua, Julia & Tallman, Eric, 2020. "Corporate Yields and Sovereign Yields," CEPR Discussion Papers 14344, C.E.P.R. Discussion Papers.
    24. Eichler, Stefan & Rövekamp, Ingmar, 2017. "Eurozone exit risk," CEPIE Working Papers 07/17, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
    25. Eijffinger, S.C.W. & Kobielarz, M.L. & Uras, R.B., 2015. "Sovereign Debt, Bail-Outs and Contagion in a Monetary Union," Other publications TiSEM 61f72c67-a909-4581-96fc-a, Tilburg University, School of Economics and Management.
    26. Billio, M. & Busetto, F. & Dufour, A. & Varotto, S., 2025. "Bond supply expectations and the term structure of interest rates," Journal of International Money and Finance, Elsevier, vol. 150(C).
    27. Dallal Bendjellal, 2022. "Sovereign Risk, Financial Fragility and Debt Maturity," Working Papers hal-03792522, HAL.
    28. Müller, Gernot Johannes & Hettig, Thomas & Mueller, Gernot, 2015. "Fiscal policy coordination in currency unions (at the zero lower bound)," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 112826, Verein für Socialpolitik / German Economic Association.
    29. Diniz, André & Guimaraes, Bernardo, 2023. "How diabolic is the sovereign-bank loop? The effects of post-default fiscal policies," Macroeconomic Dynamics, Cambridge University Press, vol. 27(3), pages 601-634, April.
    30. Faia, Ester, 2016. "Sovereign risk, bank funding and investors' pessimism," CFS Working Paper Series 542, Center for Financial Studies (CFS).
    31. Alessandro Bellocchi & Giuseppe Travaglini, 2024. "Nonlinearity, Endogeneity, and Interaction: Implications for European Reform of Budgetary Rules," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 10(2), pages 519-550, July.
    32. Della Posta, Pompeo, 2018. "Central bank intervention, public debt and interest rate target zones," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 311-323.
    33. Kriwoluzky, Alexander & Müller, Gernot J. & Wolf, Martin, 2019. "Exit expectations and debt crises in currency unions," Journal of International Economics, Elsevier, vol. 121(C).
    34. Thomas Brand & Fabien Tripier, 2021. "Risk Shocks and Divergence between the Euro Area and the US in the Aftermath of the Great Recession," Annals of Economics and Statistics, GENES, issue 143, pages 137-163.
    35. Piotr Ciżkowicz & Grzegorz Parosa & Andrzej Rzońca, 2022. "Fiscal tensions and risk premium," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 49(3), pages 833-896, August.
    36. Occhino, Filippo, 2017. "The 2012 eurozone crisis and the ECB’s OMT program: A debt-overhang banking and sovereign crisis interpretation," European Economic Review, Elsevier, vol. 100(C), pages 337-363.
    37. Stefan Niemann & Paul Pichler, 2017. "Optimal fiscal policy and sovereign debt crises," Working Papers 218, Oesterreichische Nationalbank (Austrian Central Bank).
    38. Christophe Blot & Marion Cochard & Jérôme Creel & Bruno Ducoudre & Danielle Schweisguth & Xavier Timbeau, 2014. "Fiscal consolidation in times of crisis: is the sooner really the better?," SciencePo Working papers Main hal-00980392, HAL.
    39. Francesco Carli & Leonor Modesto, 2022. "Sovereign debt, fiscal policy, and macroeconomic instability," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 24(6), pages 1386-1412, December.
    40. Gomez-Gonzalez, Patricia & Rees, Daniel M., 2018. "Same Spain, less pain?," European Economic Review, Elsevier, vol. 110(C), pages 78-107.
    41. Arnold, Ivo J.M., 2024. "The effect of fragmentation risk on monetary conditions in the euro area," Journal of International Money and Finance, Elsevier, vol. 146(C).
    42. Mr. Ruy Lama & Mr. Pau Rabanal, 2012. "Deciding to Enter a Monetary Union: TheRole of Trade and Financial Linkages," IMF Working Papers 2012/240, International Monetary Fund.
    43. Delong Li & Mr. Nicolas E Magud & Alejandro M. Werner & Samantha Witte, 2021. "The Long-Run Impact of Sovereign Yields on Corporate Yields in Emerging Markets," IMF Working Papers 2021/155, International Monetary Fund.
    44. Thomas Brand & Fabien Tripier, 2014. "Risk shocks and divergence between the Euro area and the US," Working Papers 2014-11, CEPII research center.
    45. Hettig, Thomas & Müller, Gernot J., 2018. "Fiscal policy coordination in currency unions at the effective lower bound," Journal of International Economics, Elsevier, vol. 115(C), pages 80-98.
    46. Chen, Yao & Ward, Felix, 2019. "When do fixed exchange rates work? Evidence from the Gold Standard," Journal of International Economics, Elsevier, vol. 116(C), pages 158-172.
    47. Borri, Nicola, 2019. "Redenomination-risk spillovers in the Eurozone," Economics Letters, Elsevier, vol. 174(C), pages 173-178.
    48. Andrea Camilli & Marta Giagheddu, 2020. "Public debt and crowding-out: the role of housing wealth," Working Papers 441, University of Milano-Bicocca, Department of Economics, revised Oct 2020.
    49. Sergio de Ferra, 2017. "External Imbalances, Gross Capital Flows and Sovereign Debt Crises," 2017 Meeting Papers 726, Society for Economic Dynamics.
    50. Stefano Neri & Stefano Siviero, 2019. "The non-standard monetary policy measures of the ECB: motivations, effectiveness and risks," Questioni di Economia e Finanza (Occasional Papers) 486, Bank of Italy, Economic Research and International Relations Area.
    51. Engwerda, Jacob & van Aarle, Bas & Anevlavis, Tzanis, 2019. "Debt stabilization games in a monetary union: What are the effects of introducing eurobonds?," Journal of Macroeconomics, Elsevier, vol. 59(C), pages 78-102.
    52. Tischbirek, Andreas, 2018. "Large-scale bond purchases in a currency union with segmentation in the market for government debt," Journal of Economic Dynamics and Control, Elsevier, vol. 95(C), pages 37-69.
    53. Boris Hofmann & Nikhil Patel & Steve Pak Yeung Wu, 2022. "Original sin redux: a model-based evaluation," BIS Working Papers 1004, Bank for International Settlements.
    54. Andre Diniz & Bernardo Guimaraes, 2014. "Financial Disruption as a Cost of Sovereign Default: a quantative assessment," Discussion Papers 1427, Centre for Macroeconomics (CFM).
    55. Andreas Tischbirek, 2016. "Unconventional Monetary Policy in a Currency Union with Segmentation in the Market for Government Debt," Cahiers de Recherches Economiques du Département d'économie 16.16, Université de Lausanne, Faculté des HEC, Département d’économie.
    56. Philip R. Lane, 2019. "Macrofinancial Stability and the Euro," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(3), pages 424-442, September.
    57. Anna Bartocci & Alessandro Notarpietro & Massimiliano Pisani, 2022. "Covid-19 Shock and Fiscal-Monetary Policy Mix in a Monetary Union," Springer Proceedings in Business and Economics, in: Luigi Paganetto (ed.), Economic Challenges for Europe After the Pandemic, pages 233-266, Springer.
    58. Dennis Bonam & Jasper Lukkezen, 2014. "Fiscal and Monetary Policy Coordination, Macroeconomic Stability, and Sovereign Risk," Tinbergen Institute Discussion Papers 14-006/VI, Tinbergen Institute.
    59. Saroj Bhattarai & Jae Won Lee & Woong Yong Park, 2013. "Optimal monetary policy in a currency union with interest rate spreads," Globalization Institute Working Papers 150, Federal Reserve Bank of Dallas.
    60. Kindy R. Sjahrir, 2018. "Fiscal Constraints in the Financial System Stability Framework for Indonesian Data," Working Papers in Economics and Development Studies (WoPEDS) 201803, Department of Economics, Padjadjaran University, revised Dec 2018.
    61. Dallal Bendjellal, 2022. "Sovereign Risk, Financial Fragility and Debt Maturity," AMSE Working Papers 2222, Aix-Marseille School of Economics, France.
    62. Della Posta, Pompeo, 2023. "Public debt sustainability in a target zone model with heterogeneous agents," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 440-450.
    63. Mackowiak, Bartosz & Corsetti, Giancarlo & Dedola, Luca & Schmidt, Sebastian & Jarocinski, Marek, 2017. "Macroeconomic Stabilization, Monetary-Fiscal Interactions, and Europe’s Monetary Union," CEPR Discussion Papers 12371, C.E.P.R. Discussion Papers.
    64. Javier Andrés & Pablo Burriel & Wenyi Shen, 2020. "Debt sustainability and fiscal space in a heterogeneous Monetary Union: normal times vs the zero lower bound," Working Papers 2001, Banco de España.
    65. Pablo Anaya & Alex Pienkowski, 2015. "What Really Drives Public Debt: A Holistic Approach," IMF Working Papers 2015/137, International Monetary Fund.
    66. Pompeo Della Posta, 2022. "The Revival of Target Zone Modeling," Open Economies Review, Springer, vol. 33(4), pages 775-805, September.

  34. Wolf, Martin & Müller, Gernot & Kriwoluzky, Alexander, 2013. "Currency Risk in Currency Unions," CEPR Discussion Papers 9635, C.E.P.R. Discussion Papers.

    Cited by:

    1. Barlow, C.Y. & Morgan, D.C., 2013. "Polymer film packaging for food: An environmental assessment," Resources, Conservation & Recycling, Elsevier, vol. 78(C), pages 74-80.

  35. Müller, Gernot & Enders, Zeno & Jung, Philip, 2012. "Has the Euro changed the Business Cycle?," CEPR Discussion Papers 9233, C.E.P.R. Discussion Papers.

    Cited by:

    1. Christian Bayer & Alexander Kriwoluzky & Gernot J. Müller & Fabian Seyrich, 2023. "A HANK² Model of Monetary Unions," CRC TR 224 Discussion Paper Series crctr224_2023_449, University of Bonn and University of Mannheim, Germany.
    2. J James Reade & Ulrich Volz, 2010. "Too Much to Lose, or More to Gain? Should Sweden Join the Euro?," Discussion Papers 10-13, Department of Economics, University of Birmingham.
    3. Irene Brunetti & Davide Fiaschi & Lisa Gianmoena & Angela Parenti, 2017. "Volatility in European regions," Papers in Regional Science, Wiley Blackwell, vol. 96(4), pages 697-720, November.
    4. Stefan Hohberger & Marco Ratto & Lukas Vogel, 2019. "The euro exchange rate and Germany's trade surplus," CESifo Working Paper Series 7543, CESifo.
    5. Rémi Odry & Roman Mestre, 2021. "Monetary Policy and Business Cycle Synchronization in Europe," Working Papers hal-04159759, HAL.
    6. Stefan Niemann & Paul Pichler, 2013. "Collateral, Liquidity and Debt Sustainability," Working Papers 187, Oesterreichische Nationalbank (Austrian Central Bank).
    7. Enders, Zeno & Müller, Gernot J. & Scholl, Almuth, 2008. "How do fiscal and technology shocks affect real exchange rates? New evidence for the United States," CFS Working Paper Series 2008/22, Center for Financial Studies (CFS).
    8. Jan in't Veld & Robert Kollmann & Marco Ratto & Werner Roeger & Lukas Vogel, 2014. "What drives the German current account? and how does it affect other EU member states?," Globalization Institute Working Papers 176, Federal Reserve Bank of Dallas.
    9. Corsetti, Giancarlo & Kuester, Keith & Müller, Gernot J. & Schmidt, Sebastian, 2021. "The exchange rate insulation puzzle," Working Paper Series 2630, European Central Bank.
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    7. Okano Eiji & Masataka Eguchi, 2019. "Optimal Monetary and Fiscal Policy Rules, Welfare Gains and Exogenous Shocks in an Economy with Default Risk," BCAM Working Papers 1902, Birkbeck Centre for Applied Macroeconomics.
    8. Neyer, Ulrike & Sterzel, André, 2017. "Capital requirements for government bonds: Implications for bank behaviour and financial stability," DICE Discussion Papers 275, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
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    1. Uxó González, Jorge & Álvarez, Ignacio & Febrero, Eladio, 2017. "Fiscal space on the eurozone periphery: The case of Spain," IPE Working Papers 84/2017, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
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    4. Mittnik, Stefan & Semmler, Willi, 2014. "Overleveraging, financial fragility and the banking-macro link: Theory and empirical evidence," ZEW Discussion Papers 14-110, ZEW - Leibniz Centre for European Economic Research.
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    10. Ibrar Hussain & Jawad Hussain & Arshad Ali & Shabir Ahmad, 2021. "A Dynamic Analysis of the Impact of Fiscal Adjustment on Economic Growth: Evidence From Pakistan," SAGE Open, , vol. 11(2), pages 21582440211, June.
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    21. Philipp Wegmueller, 2014. "Utility functions, fiscal shocks and the open economy - In the search of a positive consumption multiplier," Diskussionsschriften dp1407, Universitaet Bern, Departement Volkswirtschaft.
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    23. Christian R. Proaño & Christian Schoder & Willi Semmler, 2013. "Financial Stress, Sovereign Debt and Economic Activity in Industrialized Countries: Evidence from Nonlinear Dynamic Panels," Working Papers 1304, New School for Social Research, Department of Economics.
    24. Jannsen, Nils & Potjagailo, Galina & Wolters, Maik, 2015. "Monetary Policy during Financial Crises: Is the Transmission Mechanism Impaired?," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113096, Verein für Socialpolitik / German Economic Association.
    25. Beetsma, Roel & Furtuna, Oana & Giuliodori, Massimo & Mumtaz, Haroon, 2021. "Revenue- versus spending-based fiscal consolidation announcements: Multipliers and follow-up," Journal of International Economics, Elsevier, vol. 131(C).
    26. Sudip Basu & Clovis Freire & Pisit Puapan & Vatcharin Sirimaneetham & Yusuke Tateno, 2013. "Euro zone debt crisis: scenario analysis and implications for developing Asia-Pacific," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 18(1), pages 1-25.
    27. António Afonso & Jorge Braga Ferreira, 2025. "The ECB's Pandemic Emergency Purchase Programme and Fiscal Policy: Synergies or Conflict?," Working Papers REM 2025/0378, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    28. Konstantinou, Panagiotis Th. & Partheniou, Andromachi, 2021. "The Effects of Government Spending Over the Business Cycle: A Disaggregated Analysis for OECD and Non-OECD Countries," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 809-822.
    29. Christofzik, Désirée I. & Schneider, Benny, 2019. "Fiscal policy adjustments to budget shocks: Evidence from German municipalities," Working Papers 10/2019, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung.
    30. Jackson, Laura E. & Owyang, Michael T. & Zubairy, Sarah, 2018. "Debt and stabilization policy: Evidence from a Euro Area FAVAR," Journal of Economic Dynamics and Control, Elsevier, vol. 93(C), pages 67-91.
    31. Buchheim, Lukas & Watzinger, Martin, 2013. "Do Public Investments Increase Employment in a Recession? Evidence from Germany," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79826, Verein für Socialpolitik / German Economic Association.
    32. Giancarlo Corsetti & Keith Kuester & Andre Meier & Gernot J. Müller, 2011. "Soverign risk and the effects of fiscal retrenchment in deep recessions," Working Papers 11-43, Federal Reserve Bank of Philadelphia.
    33. Antoine Goujard, 2017. "Cross‐Country Spillovers from Fiscal Consolidations," Fiscal Studies, Institute for Fiscal Studies, vol. 38, pages 219-267, June.
    34. Berg, Tim Oliver, 2019. "Business Uncertainty And The Effectiveness Of Fiscal Policy In Germany," Macroeconomic Dynamics, Cambridge University Press, vol. 23(4), pages 1442-1470, June.
    35. Checherita-Westphal, Cristina & Pesso, Tom, 2024. "Fiscal policy and inflation: accounting for non-linearities in government debt," Working Paper Series 2996, European Central Bank.
    36. Anusha Chari & Peter Blair Henry, 2014. "Two Tales of Adjustment: East Asian Lessons for European Growth," Working Papers 14-04, New York University, Leonard N. Stern School of Business, Department of Economics.
    37. Panagiotis Th. Konstantinou & Andromachi Partheniou & Athanasios Tagkalakis, 2025. "A Functional Classification Analysis of Government Spending Multipliers," Open Economies Review, Springer, vol. 36(4), pages 1157-1192, September.
    38. Anastasios Evgenidis & Masashige Hamano & Wessel N. Vermeulen, 2020. "Economic consequences of follow-up disasters: lessons from the 2011 Great East Japan Earthquake," Working Papers e152, Tokyo Center for Economic Research.
    39. Alexandru Minea & Lavinia Teodora Mustea, 2015. "A fresh look at fiscal multipliers: one size fits it all? Evidence from the Mediterranean area," Post-Print halshs-01152806, HAL.
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    Cited by:

    1. Clancy, Daragh & Jacquinot, Pascal & Lozej, Matija, 2014. "The Effects of Government Spending in a Small Open Economy within a Monetary Union," Research Technical Papers 12/RT/14, Central Bank of Ireland.
    2. Patrick Blagrave & Giang Ho & Ksenia Koloskova & Mr. Esteban Vesperoni, 2018. "Cross-Border Transmission of Fiscal Shocks: The Role of Monetary Conditions," IMF Working Papers 2018/103, International Monetary Fund.
    3. Laurent Ferrara & Luca Metelli & Filippo Natoli & Daniele Siena, 2020. "Questioning the puzzle: Fiscal policy, exchange rate and inflation," Working papers 752, Banque de France.
    4. Ilori, Ayobami E. & Paez-Farrell, Juan & Thoenissen, Christoph, 2022. "Fiscal policy shocks and international spillovers," European Economic Review, Elsevier, vol. 141(C).
    5. Madeline Hanson & Daniela Hauser & Romanos Priftis, 2021. "Fiscal Spillovers: The Case of US Corporate and Personal Income Taxes," Staff Working Papers 21-41, Bank of Canada.
    6. Luca Metelli & Filippo Natoli, 2019. "The international transmission of US tax shocks: a proxy-SVAR approach," Temi di discussione (Economic working papers) 1223, Bank of Italy, Economic Research and International Relations Area.
    7. Stephen Nicar, 2015. "International Spillovers from U.S. Fiscal Policy Shocks," Open Economies Review, Springer, vol. 26(5), pages 1081-1097, November.
    8. Pierre‐Richard Agénor, 2024. "Global shocks, budgets deficits, and international fiscal policy coordination," Review of International Economics, Wiley Blackwell, vol. 32(3), pages 1341-1363, August.
    9. Ferrara, Laurent & Metelli, Luca & Natoli, Filippo & Siena, Daniele, 2021. "Questioning the puzzle: Fiscal policy, real exchange rate and inflation," Journal of International Economics, Elsevier, vol. 133(C).
    10. Natoli, Filippo & Metelli, Luca, 2018. "The international transmission of US fiscal shocks," MPRA Paper 84207, University Library of Munich, Germany.
    11. Madalina-Gabriela ANGHEL & Constantin ANGHELACHE & Florin Paul Costel LILEA & Alexandru BADIU, 2017. "Forecasting Foreign Economic Relations," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 65(4), pages 47-55, April.
    12. Michael B. Devereux, 2018. "International Fiscal Spillovers: A Review Essay," Korean Economic Review, Korean Economic Association, vol. 34, pages 29-50.
    13. Philipp Pfeiffer & Janos Varga & Jan in 't Veld, 2021. "Quantifying Spillovers of Next Generation EU Investment," European Economy - Discussion Papers 144, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    14. Theodore Chatziapostolou & Nikolina Kosteletou, 2023. "A VAR model for Fiscal Multipliers and the Future of Fiscal Policy in European Monetary Union," Bulletin of Applied Economics, Risk Market Journals, vol. 10(2), pages 1-15.
    15. Clancy, Daragh & Jacquinot, Pascal & Lozej, Matija, 2016. "Government expenditure composition and fiscal policy spillovers in small open economies within a monetary union," Journal of Macroeconomics, Elsevier, vol. 48(C), pages 305-326.
    16. Dragomirescu-Gaina, Catalin & Philippas, Dionisis, 2015. "Strategic interactions of fiscal policies in Europe: A global VAR perspective," Journal of International Money and Finance, Elsevier, vol. 59(C), pages 49-76.
    17. Müller, Gernot & Born, Benjamin & Juessen, Falko, 2012. "Exchange rate regimes and fiscal multipliers," CEPR Discussion Papers 8986, C.E.P.R. Discussion Papers.
    18. Carmignani, Fabrizio, 2015. "The international effect of US government expenditure," Economic Modelling, Elsevier, vol. 47(C), pages 63-73.
    19. Jingchao Li, 2022. "Fiscal shocks and spillovers in a dynamic two-country model," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 29(1), pages 53-83, February.
    20. Deniz Sevinc & Edgar Mata Flores, 2021. "Macroeconomic and financial implications of multi‐dimensional interdependencies between OECD countries," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 741-776, January.
    21. Klein, Mathias & Linnemann, Ludger, 2024. "Tax shocks, firm entry, and productivity in the open economy," Journal of International Money and Finance, Elsevier, vol. 149(C).

  40. Müller, Gernot & Born, Benjamin & Juessen, Falko, 2012. "Exchange rate regimes and fiscal multipliers," CEPR Discussion Papers 8986, C.E.P.R. Discussion Papers.

    Cited by:

    1. Hory, Marie-Pierre & Levieuge, Grégory & Onori, Daria, 2023. "The fiscal multiplier when debt is denominated in foreign currency," International Economics, Elsevier, vol. 176(C).
    2. Mario Forni & Luca Gambetti, 2014. "Government Spending Shocks in Open Economy VARs," Center for Economic Research (RECent) 105, University of Modena and Reggio E., Dept. of Economics "Marco Biagi".
    3. Cardi, Olivier & Restout, Romain, 2023. "Sectoral fiscal multipliers and technology in open economy," Journal of International Economics, Elsevier, vol. 144(C).
    4. Cristina Badarau & Ibrahima Sangare, 2019. "Exchange rate regimes in a liquidity trap," Post-Print hal-03270952, HAL.
    5. Wollmershäuser, Timo & Hristov, Nikolay & Hülsewig, Oliver, 2013. "The Interest Rate Pass-Through in the Euro Area During the Global Financial Crisis," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79976, Verein für Socialpolitik / German Economic Association.
    6. Frangiamore, Francesco & Matarrese, Marco Maria, 2025. "Government spending multipliers and financial fragility in Italy," Economic Modelling, Elsevier, vol. 145(C).
    7. Mankart, Jochen & Priftis, Romanos & Oikonomou, Rigas, 2024. "The long and short of financing government spending," VfS Annual Conference 2024 (Berlin): Upcoming Labor Market Challenges 302414, Verein für Socialpolitik / German Economic Association.
    8. Désirée I Christofzik & Steffen Elstner, 2021. "International spillover effects of U.S. tax reforms: evidence from Germany," Oxford Economic Papers, Oxford University Press, vol. 73(2), pages 578-600.
    9. Olivier CARDI & Peter CLAEYS & Romain RESTOUT, 2017. "Imperfect mobility of labor across sectors and fiscal transmission," LIDAM Discussion Papers IRES 2017015, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    10. Berg, Tim Oliver, 2019. "Business Uncertainty And The Effectiveness Of Fiscal Policy In Germany," Macroeconomic Dynamics, Cambridge University Press, vol. 23(4), pages 1442-1470, June.
    11. Ekaterina Pyltsyna, 2018. "The Change Of Fiscal Multiplier When Switching From Managed Exchange Rate Regime To Thefloating One," HSE Working papers WP BRP 206/EC/2018, National Research University Higher School of Economics.
    12. Laurent Ferrara & Luca Metelli & Filippo Natoli & Daniele Siena, 2020. "Questioning the puzzle: Fiscal policy, exchange rate and inflation," Working papers 752, Banque de France.
    13. Ricco, Giovanni & Ellahie, Atif, 2012. "Government Spending Reloaded: Fundamentalness and Heterogeneity in Fiscal SVARs," MPRA Paper 42105, University Library of Munich, Germany.
    14. Kumwenda, Thomson Nelson, 2022. "Fiscal Multipliers and Evidence on Effectiveness of Fiscal Policy in Malawi," Dynare Working Papers 73, CEPREMAP.
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    21. Brendon Riches, 2022. "Fiscal and monetary policy interaction at the effective lower bound," Treasury Analytical Notes Series an22/01, New Zealand Treasury.
    22. Marie-Pierre Hory, 2016. "Fiscal multipliers in Emerging Market Economies: Can we learn something from Advanced Economies?," International Economics, CEPII research center, issue 146, pages 59-84.
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    50. Sonya Georgieva, 2021. "Fiscal Multipliers in Bulgaria and Central and Eastern Europe Countries," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 131-167.
    51. Marie-Pierre HORY & Grégory LEVIEUGE & Daria ONORI, 2018. "The (low) fiscal multiplier when debt is denominated in foreign currency," LEO Working Papers / DR LEO 2583, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
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    53. Cavallari, Lilia & D׳Addona, Stefano, 2015. "Exchange rates as shock absorbers: The role of export margins," Research in Economics, Elsevier, vol. 69(4), pages 582-602.
    54. Océane Blomme & Jérôme Héricourt, 2023. "Inequality, Current Account Imbalances and Middle Incomes," Working Papers 2023-11, CEPII research center.
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    56. Daniel Stodt, 2025. "Non-Linearity of Government Spending Multiplier: The Case of a Small Open Economy," Working Papers 2025/3, Czech National Bank, Research and Statistics Department.
    57. Siming Liu, 2018. "Government Spending during Sudden Stop Crises," CAEPR Working Papers 2018-002, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    58. Ferrara, Laurent & Metelli, Luca & Natoli, Filippo & Siena, Daniele, 2021. "Questioning the puzzle: Fiscal policy, real exchange rate and inflation," Journal of International Economics, Elsevier, vol. 133(C).
    59. António Afonso & Florence Huart & João Tovar Jalles & Piotr Stanek, 2018. "Twin Deficits Revisited: a role for fiscal institutions?," Working Papers REM 2018/31, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    60. Kim, Wongi, 2023. "Private sector debt overhang and government spending multipliers: Not all debts are alike," European Economic Review, Elsevier, vol. 154(C).
    61. Born, Benjamin & Müller, Gernot & Pfeifer, Johannes, 2014. "Does austerity pay off?," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100301, Verein für Socialpolitik / German Economic Association.
    62. Tannous Kass-Hanna & Julien Reynaud & Chris Walker, 2023. "Estimating Fiscal Multipliers Under Alternative Exchange Rate Regimes: The Case of Bolivia," IMF Working Papers 2023/240, International Monetary Fund.
    63. António Afonso & Frederico Silva Leal, 2022. "Fiscal episodes in the Economic and Monetary Union: Elasticities and non‐Keynesian effects," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(1), pages 571-593, January.
    64. Chowdhury, Mohammad Tarequl Hasan & Bhattacharya, Prasad Sankar & Mallick, Debdulal & Ulubaşoğlu, Mehmet Ali, 2016. "Exchange rate regimes and fiscal discipline: The role of trade openness," International Review of Economics & Finance, Elsevier, vol. 45(C), pages 106-128.
    65. Vivien Lewis & Roland Winkler, 2015. "Fiscal policy and business formation in open economies," Working Papers of Department of Economics, Leuven 504890, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
    66. Stefano Grassi & Marco Lorusso & Francesco Ravazzolo, 2021. "Adaptive Importance Sampling for DSGE Models," BEMPS - Bozen Economics & Management Paper Series BEMPS84, Faculty of Economics and Management at the Free University of Bozen.
    67. Michael B. Devereux, 2018. "International Fiscal Spillovers: A Review Essay," Korean Economic Review, Korean Economic Association, vol. 34, pages 29-50.
    68. Andrea Boitani & Salvatore Perdichizzi & Chiara Punzo, 2020. "Nonlinearities and expenditure multipliers in the Eurozone," DISCE - Working Papers del Dipartimento di Economia e Finanza def089, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    69. Jorge Pablo Puig & Martin Ardanaz & Eduardo Cavallo & Alejandro Izquierdo, 2021. "Output effects of fiscal consolidations: does spending composition matter?," Asociación Argentina de Economía Política: Working Papers 4507, Asociación Argentina de Economía Política.
    70. Sebastian Gechert & Ansgar Rannenberg, 2014. "Are Fiscal Multipliers Regime-Dependent? A Meta Regression Analysis," IMK Working Paper 139-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    71. Makin, Anthony J., 2019. "Lessons for macroeconomic policy from the Global Financial Crisis," Economic Analysis and Policy, Elsevier, vol. 64(C), pages 13-25.
    72. Theodore Chatziapostolou & Nikolina Kosteletou, 2023. "A VAR model for Fiscal Multipliers and the Future of Fiscal Policy in European Monetary Union," Bulletin of Applied Economics, Risk Market Journals, vol. 10(2), pages 1-15.
    73. Mr. Jiro Honda & Hiroaki Miyamoto & Mina Taniguchi, 2020. "Exploring the Output Effect of Fiscal Policy Shocks in Low Income Countries," IMF Working Papers 2020/012, International Monetary Fund.
    74. Hory, Marie-Pierre & Levieuge, Grégory & Onori, Daria, 2021. "Public spending, currency mismatch and financial frictions," Journal of International Money and Finance, Elsevier, vol. 116(C).
    75. Hettig, Thomas & Müller, Gernot J., 2018. "Fiscal policy coordination in currency unions at the effective lower bound," Journal of International Economics, Elsevier, vol. 115(C), pages 80-98.
    76. Ben Zeev, Nadav, 2019. "Global credit supply shocks and exchange rate regimes," Journal of International Economics, Elsevier, vol. 116(C), pages 1-32.
    77. LEONIDA, Ionel, 2018. "The Conceptual, Methodological, And Empirical Aspects Regarding Budgetary Multipliers," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 6(1), pages 63-71, October.
    78. Sabaj, Ernil & Sbia, Rashid & Troug, Haytem, 2023. "Does it matter where and how governments spend?," Economics Letters, Elsevier, vol. 228(C).
    79. Müller, Gernot & Born, Benjamin & Juessen, Falko, 2012. "Exchange rate regimes and fiscal multipliers," CEPR Discussion Papers 8986, C.E.P.R. Discussion Papers.
    80. Sangaré, Ibrahima, 2016. "External shocks and exchange rate regimes in Southeast Asia: A DSGE analysis," Economic Modelling, Elsevier, vol. 58(C), pages 365-382.
    81. Virkola, Tuomo, 2014. "Exchange Rate Regime, Fiscal Foresight and the Effectiveness of Fiscal Policy in a Small Open Economy," ETLA Reports 20, The Research Institute of the Finnish Economy.
    82. Stefano D’Addona & Lilia Cavallari, 2020. "External Shocks, Trade Margins, and Macroeconomic Dynamics," Economies, MDPI, vol. 8(1), pages 1-26, January.
    83. Angela Köppl & Margit Schratzenstaller-Altzinger, 2022. "Macroeconomic Effects of Green Recovery Programmes. Conceptual Framing and a Review of the Empirical Literature," WIFO Working Papers 646, WIFO.
    84. Direye, Eli, 2017. "An empirical study on the dynamic effects of fiscal shock on the economy of Papua New Guinea," MPRA Paper 113917, University Library of Munich, Germany.
    85. Ju Hyun Pyun & Dong-Eun Rhee, 2015. "Fiscal Multipliers During The Global Financial Crisis: Fiscal And Monetary Interaction Matters," Contemporary Economic Policy, Western Economic Association International, vol. 33(1), pages 207-220, January.
    86. Stefano Grassi & Marco Lorusso & Francesco Ravazzolo, 2025. "Adaptive Importance Sampling Estimation of an Open Economy Model with Fiscal Policy," BEMPS - Bozen Economics & Management Paper Series BEMPS111, Faculty of Economics and Management at the Free University of Bozen.
    87. Viacheslav Sheremirov & Sandra Spirovska, 2019. "Fiscal multipliers in advanced and developing countries: evidence from military spending," Working Papers 19-3, Federal Reserve Bank of Boston.
    88. Cavallari, Lilia & D'Addona, Stefano, 2017. "Output stabilization in fixed and floating regimes: Does trade of new products matter?," Economic Modelling, Elsevier, vol. 64(C), pages 365-383.
    89. Borgo Julián, 2024. "El multiplicador fiscal en Argentina. Evaluando la relevancia del contexto macroeconómico," Asociación Argentina de Economía Política: Working Papers 4712, Asociación Argentina de Economía Política.
    90. Luisa Lambertini & Christian Proebsting, 2019. "Does Austerity Go Along with Internal Devaluations?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(3), pages 618-656, September.
    91. Bechchani, Khalil, 2025. "Austerity reexamined: Uncovering the role of the shadow economy," Economic Analysis and Policy, Elsevier, vol. 85(C), pages 1291-1317.
    92. Ricardo Silva & Vitor Manuel Carvalho & Ana Paula Ribeiro, 2013. "How large are fiscal multipliers? A panel-data VAR approach for the Euro area," FEP Working Papers 500, Universidade do Porto, Faculdade de Economia do Porto.
    93. Petrović, Pavle & Arsić, Milojko & Nojković, Aleksandra, 2021. "Increasing public investment can be an effective policy in bad times: Evidence from emerging EU economies," Economic Modelling, Elsevier, vol. 94(C), pages 580-597.

  41. Giancarlo Corsetti & Keith Kuester & Andre Meier & Gernot J. Müller, 2011. "Soverign risk and the effects of fiscal retrenchment in deep recessions," Working Papers 11-43, Federal Reserve Bank of Philadelphia.

    Cited by:

    1. Ritschl, Albrecht, 2012. "Reparations, deficits, and debt default: the Great Depression in Germany," LSE Research Online Documents on Economics 44335, London School of Economics and Political Science, LSE Library.
    2. Giancarlo Corsetti & Gernot J. Müller, 2011. "Multilateral Economic Cooperation and the International Transmission of Fiscal Policy," NBER Working Papers 17708, National Bureau of Economic Research, Inc.
    3. Tim Oliver Berg & Kai Carstensen & Hans-Werner Sinn, 2011. "Was kosten Eurobonds?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 64(17), pages 25-33, September.
    4. Wolfgang Nierhaus & Timo Wollmershäuser, 2016. "ifo Konjunkturumfragen und Konjunkturanalyse: Band II," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 72.
    5. André, Marine C. & Armijo, Alberto & Espidio, Sebastián Medina & Sandoval, Jamel, 2023. "Policy mix in a small open emerging economy with commodity prices," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 4(1).

  42. Giancarlo Corsetti & Keith Kuester & Gernot J. Müller, 2011. "Floats, Pegs and the Transmission of Fiscal Policy," Working Papers Central Bank of Chile 608, Central Bank of Chile.

    Cited by:

    1. Lemoine, Matthieu & Lindé, Jesper, 2016. "Fiscal Consolidation Under Imperfect Credibility," Working Paper Series 322, Sveriges Riksbank (Central Bank of Sweden).
    2. Mario Forni & Luca Gambetti, 2014. "Government Spending Shocks in Open Economy VARs," Center for Economic Research (RECent) 105, University of Modena and Reggio E., Dept. of Economics "Marco Biagi".
    3. Groll, Dominik & Monacelli, Tommaso, 2020. "The inherent benefit of monetary unions," Journal of Monetary Economics, Elsevier, vol. 111(C), pages 63-79.
    4. Beetsma, Roel & Furtuna, Oana & Giuliodori, Massimo & Mumtaz, Haroon, 2021. "Revenue- versus spending-based fiscal consolidation announcements: Multipliers and follow-up," Journal of International Economics, Elsevier, vol. 131(C).
    5. Daniel Wilson & Sylvain Leduc, 2012. "Roads to Prosperity or Bridges to Nowhere? Theory and Evidence on the Impact of Public Infrastructure Investment," 2012 Meeting Papers 210, Society for Economic Dynamics.
    6. Emmanuel Farhi & Iván Werning, 2012. "Fiscal Multipliers: Liquidity Traps and Currency Unions," NBER Working Papers 18381, National Bureau of Economic Research, Inc.
    7. Cook, David & Devereux, Michael B, 2016. "Exchange rate flexibility under the zero lower bound," Journal of International Economics, Elsevier, vol. 101(C), pages 52-69.
    8. Ekaterina Pyltsyna, 2018. "The Change Of Fiscal Multiplier When Switching From Managed Exchange Rate Regime To Thefloating One," HSE Working papers WP BRP 206/EC/2018, National Research University Higher School of Economics.
    9. Laurent Ferrara & Luca Metelli & Filippo Natoli & Daniele Siena, 2020. "Questioning the puzzle: Fiscal policy, exchange rate and inflation," Working papers 752, Banque de France.
    10. Ricco, Giovanni & Ellahie, Atif, 2012. "Government Spending Reloaded: Fundamentalness and Heterogeneity in Fiscal SVARs," MPRA Paper 42105, University Library of Munich, Germany.
    11. Ma, Yong & Jiang, Yiqing & Yao, Chi, 2022. "Trade openness, financial openness, and macroeconomic volatility," Economic Systems, Elsevier, vol. 46(1).
    12. Christopher J. Erceg & Jesper Linde, 2012. "Fiscal Consolidation in an Open Economy," American Economic Review, American Economic Association, vol. 102(3), pages 186-191, May.
    13. Brendon Riches, 2022. "Fiscal and monetary policy interaction at the effective lower bound," Treasury Analytical Notes Series an22/01, New Zealand Treasury.
    14. Marie-Pierre Hory, 2016. "Fiscal multipliers in Emerging Market Economies: Can we learn something from Advanced Economies?," International Economics, CEPII research center, issue 146, pages 59-84.
    15. Giovanni Ganelli & Neil Rankin, 2018. "Fiscal Deficits as a Source of Boom and Bust under a Common Currency," Discussion Papers 18/05, Department of Economics, University of York.
    16. Matteo Cacciatore & Nora Traum, 2022. "Trade Flows and Fiscal Multipliers," The Review of Economics and Statistics, MIT Press, vol. 104(6), pages 1206-1223, November.
    17. Beetsma, Roel & Giuliodori, Massimo & Hanson, Jesper, 2012. "Budgetary consolidation under different exchange rate regimes," Economics Letters, Elsevier, vol. 117(3), pages 912-916.
    18. Born, Benjamin & Müller, Gernot & Pfeifer, Johannes, 2020. "Uncertainty shocks in currency unions," CEPR Discussion Papers 15579, C.E.P.R. Discussion Papers.
    19. Milivojevic, Lazar & Tatar, Balint, 2021. "Fixed exchange rate - a friend or foe of labor cost adjustments?," IMFS Working Paper Series 152, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    20. Kriwoluzky, Alexander & Müller, Gernot J. & Wolf, Martin, 2019. "Exit expectations and debt crises in currency unions," Journal of International Economics, Elsevier, vol. 121(C).
    21. Mr. Anil Ari & Mr. Carlos Mulas-Granados & Mr. Victor Mylonas & Mr. Lev Ratnovski & Wei Zhao, 2023. "One Hundred Inflation Shocks: Seven Stylized Facts," IMF Working Papers 2023/190, International Monetary Fund.
    22. D. Bonam & J.H.J. Lukkezen, 2014. "Government spending shocks, sovereign risk and the exchange rate regime," Working Papers 14-01, Utrecht School of Economics.
    23. Raphael Corbi & Elias Papaioannou, Paolo Surico, 2018. "Regional Transfer Multipliers," Working Papers, Department of Economics 2018_12, University of São Paulo (FEA-USP).
    24. Kuvshinov, Dmitry & Müller, Gernot J. & Wolf, Martin, 2016. "Deleveraging, deflation and depreciation in the euro area," European Economic Review, Elsevier, vol. 88(C), pages 42-66.
    25. Ferrara, Laurent & Metelli, Luca & Natoli, Filippo & Siena, Daniele, 2021. "Questioning the puzzle: Fiscal policy, real exchange rate and inflation," Journal of International Economics, Elsevier, vol. 133(C).
    26. Ricardo Félix & Gabriela Castro & José Maria & Paulo Júlio, 2013. "Fiscal Multipliers in a Small Euro Area Economy: How Big Can They Get in Crisis Times?," EcoMod2013 5307, EcoMod.
    27. Christoph Bierbrauer, 2017. "National Fiscal Stimulus Packages And Consolidation Strategies In A Monetary Union," IEER Working Papers 110, Institute of Empirical Economic Research, Osnabrueck University.
    28. Emi Nakamura & J?n Steinsson, 2014. "Fiscal Stimulus in a Monetary Union: Evidence from US Regions," American Economic Review, American Economic Association, vol. 104(3), pages 753-792, March.
    29. Muhammad Raashid & Abdul Saboor & Aneela Afzal, 2020. "Decision between Public Investment and Public Consumption: A Policy Analysis," Global Economics Review, Humanity Only, vol. 5(1), pages 131-152, March.
    30. Hettig, Thomas & Müller, Gernot J., 2018. "Fiscal policy coordination in currency unions at the effective lower bound," Journal of International Economics, Elsevier, vol. 115(C), pages 80-98.
    31. Matthias Burgert & Philipp Pfeiffer & Werner Roeger, 2021. "Fiscal policy in a monetary union with downward nominal wage rigidity," Working Papers 2021-16, Swiss National Bank.
    32. Corsetti, Giancarlo & Brendon, Charles, 2016. "COEURE Survey: Fiscal and Monetary Policies after the Crises," CEPR Discussion Papers 11088, C.E.P.R. Discussion Papers.
    33. García, Carlos J. & González, Wildo & Valenzuela, Gabriel, 2025. "The valuation of economic recovery: The case for investment-led fiscal spending policies in open economies," International Review of Economics & Finance, Elsevier, vol. 99(C).
    34. Ma, Yong, 2016. "Nonlinear monetary policy and macroeconomic stabilization in emerging market economies: Evidence from China," Economic Systems, Elsevier, vol. 40(3), pages 461-480.
    35. Müller, Gernot & Born, Benjamin & Juessen, Falko, 2012. "Exchange rate regimes and fiscal multipliers," CEPR Discussion Papers 8986, C.E.P.R. Discussion Papers.
    36. Jesper Lindé, 2018. "DSGE models: still useful in policy analysis?," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 34(1-2), pages 269-286.
    37. Virkola, Tuomo, 2014. "Exchange Rate Regime, Fiscal Foresight and the Effectiveness of Fiscal Policy in a Small Open Economy," ETLA Reports 20, The Research Institute of the Finnish Economy.
    38. Farhi, E. & Werning, I., 2016. "Fiscal Multipliers☆☆We thank the editors John Taylor and Harald Uhlig for detailed comments, as well as suggestions and comments by Gabriel Chodorow-Reich, Jon Steinsson, and Michael Weber," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2417-2492, Elsevier.
    39. Nicholas Sly & Caroline Weber, 2015. "Global tax policy and the synchronization of business cycles," Research Working Paper RWP 15-7, Federal Reserve Bank of Kansas City.
    40. Luiz de Mello, 2013. "What Can Fiscal Policy Do in the Current Recession? A Review of Recent Literature and Policy Options," Hacienda Pública Española / Review of Public Economics, IEF, vol. 204(1), pages 113-139, March.

  43. Scholl, Almuth & Müller, Gernot & Enders, Zeno, 2010. "How do Fiscal and Technology Shocks affect Real Exchange Rates? New Evidence for the United States," CEPR Discussion Papers 7732, C.E.P.R. Discussion Papers.

    Cited by:

    1. Fischer, Andreas & Sauré, Philip, 2016. "The speed of the exchange rate pass-through," CEPR Discussion Papers 11195, C.E.P.R. Discussion Papers.
    2. Luigi MARATTIN & Simone SALOTTI, 2010. "The Response of Private Consumption to Different Public Spending Categories:VAR Evidence from UK," EcoMod2010 259600111, EcoMod.
    3. Hafedh Bouakez & Aurélien Eyquem, 2011. "Government Spending, Monetary Policy, and the Real Exchange Rate," Working Papers 1139, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    4. Hory, Marie-Pierre & Levieuge, Grégory & Onori, Daria, 2023. "The fiscal multiplier when debt is denominated in foreign currency," International Economics, Elsevier, vol. 176(C).
    5. Mario Forni & Luca Gambetti, 2014. "Government Spending Shocks in Open Economy VARs," Center for Economic Research (RECent) 105, University of Modena and Reggio E., Dept. of Economics "Marco Biagi".
    6. Engel, Charles, 2014. "Exchange Rates and Interest Parity," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 453-522, Elsevier.
    7. Stylianos Asimakopoulos & Marco Lorusso & Luca Pieroni, 2021. "Can public spending boost private consumption?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 54(3), pages 1275-1313, November.
    8. Thorsten Klug & Eric Mayer & Tobias Schuler, 2018. "The Corporate Saving Glut and the Current Account in Germany," ifo Working Paper Series 280, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
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    10. Benjamin Born & Francesco D’Ascanio & Gernot J. Müller & Johannes Pfeifer, 2024. "Mr. Keynes Meets the Classics: Government Spending and the Real Exchange Rate," Journal of Political Economy, University of Chicago Press, vol. 132(5), pages 1642-1683.
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    Cited by:

    1. Ekpo, Akpan H. & Effiong, Ekpeno L., 2017. "Openness and the Effects of Monetary Policy in Africa," MPRA Paper 80847, University Library of Munich, Germany.
    2. Cherkas N., Atamanchuk Z., 2015. "Assessing macroeconomic effects of monetary policy in Ukraine," Economy and Forecasting, Valeriy Heyets, issue 3, pages 123-134.
    3. Akbari Dehbaghi, Simin & Arman, Seyed Aziz & Ahangari, Majid, 2020. "The Impact of Domestic and Foreign Monetary Policy on Iran\'s economy: Global Modeling," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 15(2), pages 151-180, April.
    4. Verona, Fabio & Wolters, Maik H., 2013. "Sticky information models in Dynare," Bank of Finland Research Discussion Papers 5/2013, Bank of Finland.
    5. Bruno Coric & Lena Malesevic Perovic & Vladimir Simic, 2015. "A Cross-Country Analysis of Monetary Policy Effects on Prices," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 65(5), pages 377-390, October.
    6. Taylor, John & Wieland, Volker & Cogan, John F. & Wolters, Maik, 2012. "Fiscal Consolidation Strategy," CEPR Discussion Papers 9041, C.E.P.R. Discussion Papers.
    7. Van Nguyen, Phuong, 2020. "Evaluating the forecasting accuracy of the closed- and open economy New Keynesian DSGE models," Dynare Working Papers 59, CEPREMAP.
    8. Martin Feldkircher & Helene Schuberth, 2023. "Understanding Monetary Spillovers in Highly Integrated Regions: The Case of Europe," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 85(4), pages 859-893, August.
    9. Yoshiyuki Fukuda & Yuki Kimura & Nao Sudo & Hiroshi Ugai, 2013. "Cross-country Transmission Effect of the U.S. Monetary Shock under Global Integration," Bank of Japan Working Paper Series 13-E-16, Bank of Japan.
    10. Wen Zhang, 2020. "Can trade openness affect the monetary transmission mechanism?," Review of International Economics, Wiley Blackwell, vol. 28(2), pages 341-364, May.
    11. Simone Meier, 2013. "Financial globalization and monetary transmission," Globalization Institute Working Papers 145, Federal Reserve Bank of Dallas.
    12. Potjagailo, Galina, 2017. "Spillover effects from Euro area monetary policy across Europe: A factor-augmented VAR approach," Journal of International Money and Finance, Elsevier, vol. 72(C), pages 127-147.
    13. Georgiadis, Georgios & Mehl, Arnaud, 2016. "Financial globalisation and monetary policy effectiveness," Journal of International Economics, Elsevier, vol. 103(C), pages 200-212.
    14. Fiedler Salomon & Jannsen Nils & Reitz Stefan & Wolters Maik, 2016. "Is Globalization Reducing the Ability of Central Banks to Control Inflation? A Literature Review with an Application to the Euro Area," Review of Economics, De Gruyter, vol. 67(3), pages 231-253, December.
    15. Ferdinand Ahiakpor & William Cantah & William Brafu-Insaidoo & Eric Bondzie, 2019. "Trade Openness and Monetary Policy in Ghana," International Economic Journal, Taylor & Francis Journals, vol. 33(2), pages 332-349, April.
    16. Bruno Ćorić & Lena Malešević Perović & Vladimir Šimić, 2016. "Openness and the Strength of Monetary Transmission: International Evidence," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 66(4), pages 639-659, December.
    17. Georgios Georgiadis & Arnaud Mehl, 2015. "Trilemma, not dilemma: financial globalisation and Monetary policy effectiveness," Globalization Institute Working Papers 222, Federal Reserve Bank of Dallas.
    18. Alpaslan AKÇORAOĞLU, 2012. "Yeni Açık Ekonomi Makroiktisat Teorisi ve Para Politikasının Uluslararası Boyutları," Ekonomik Yaklasim, Ekonomik Yaklasim Association, vol. 23(85), pages 57-82.

  45. Kollmann, Robert & Müller, Gernot & Enders, Zeno, 2010. "Global Banking and International Business Cycles," CEPR Discussion Papers 7972, C.E.P.R. Discussion Papers.

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    1. Poutineau, Jean-Christophe & Vermandel, Gauthier, 2017. "Global banking and the conduct of macroprudential policy in a monetary union," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 306-331.
    2. Huang, Bihong & Punzi, Maria Teresa & Wu, Yu, 2022. "Environmental regulation and financial stability: Evidence from Chinese manufacturing firms," Journal of Banking & Finance, Elsevier, vol. 136(C).
    3. Hristov, Nikolay & Hülsewig, Oliver, 2017. "Unexpected loan losses and bank capital in an estimated DSGE model of the euro area," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 161-186.
    4. Adler, Gustavo & Lizarazo, Sandra, 2015. "Intertwined sovereign and bank solvencies in a simple model of self-fulfilling crisis," International Review of Economics & Finance, Elsevier, vol. 39(C), pages 428-448.
    5. Fabrizio Perri & Vincenzo Quadrini, 2011. "International Recessions," NBER Working Papers 17201, National Bureau of Economic Research, Inc.
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    157. Mr. Hamid R Tabarraei & Abdelaziz Rouabah & Olivier Pierrard, 2019. "Sovereigns and Financial Intermediaries Spillovers," IMF Working Papers 2019/043, International Monetary Fund.
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  46. Corsetti, Giancarlo & Müller, Gernot & Kuester, Keith & Meier, André, 2010. "Debt consolidation and fiscal stabilization of deep recessions," CEPR Discussion Papers 7649, C.E.P.R. Discussion Papers.

    Cited by:

    1. Lemoine, Matthieu & Lindé, Jesper, 2016. "Fiscal Consolidation Under Imperfect Credibility," Working Paper Series 322, Sveriges Riksbank (Central Bank of Sweden).
    2. Salvatore Perdichizzi, 2017. "Estimating Fiscal multipliers in the Eurozone. A Nonlinear Panel Data Approach," DISCE - Working Papers del Dipartimento di Economia e Finanza def058, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    3. Mario Coccia, 2018. "National debts and government deficits within European Monetary Union: Statistical evidence of economic issues," Papers 1806.07830, arXiv.org.
    4. Stéphane Auray & Aurélien Eyquem & Paul Gomme, 2017. "Debt Hangover in the Aftermath of the Great Recession," Post-Print halshs-01520860, HAL.
    5. Giancarlo Corsetti & Keith Kuester & Andre Meier & Gernot J. Müller, 2011. "Soverign risk and the effects of fiscal retrenchment in deep recessions," Working Papers 11-43, Federal Reserve Bank of Philadelphia.
    6. Gianluca Cafiso & Roberto Cellini, 2013. "Fiscal Consolidations and Public Debt in Europe," Working Papers 2013-35, CEPII research center.
    7. James Cloyne & Nicholas Dimsdale & Natacha Postel-Vinay, 2024. "Taxes and Growth: New Narrative Evidence from Interwar Britain," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 91(4), pages 2168-2200.
    8. Roberto Tamborini & Matteo Tomaselli, 2020. "When does public debt impair economic growth? A literature review in search of a theory," DEM Working Papers 2020/7, Department of Economics and Management.
    9. Lars Calmfors & Giancarlo Corsetti & John Hassler & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Ákos Valentinyi & Xavier Vives, 2012. "Chapter 1: Macroeconomic Outlook," EEAG Report on the European Economy, CESifo, vol. 0, pages 17-56, February.
    10. Seppo Honkapohja & Kaushik Mitra & George Evans, 2017. "Expectations, Stagnation and Fiscal Policy," 2017 Meeting Papers 160, Society for Economic Dynamics.
    11. Fragetta, Matteo & Tamborini, Roberto, 2019. "It's not austerity. Or is it? Assessing the effect of austerity on growth in the European Union, 2010-15," International Review of Economics & Finance, Elsevier, vol. 62(C), pages 196-212.
    12. Mr. Keith Kuester & Mr. Gernot J. Mueller & Giancarlo Corsetti & Mr. Andre Meier, 2012. "Sovereign Risk, Fiscal Policy, and Macroeconomic Stability," IMF Working Papers 2012/033, International Monetary Fund.
    13. Timothy S. Hills & Taisuke Nakata, 2018. "Fiscal Multipliers at the Zero Lower Bound: The Role of Policy Inertia," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(1), pages 155-172, February.
    14. Jan in 't Veld, 2013. "Fiscal consolidations and spillovers in the Euro area periphery and core," European Economy - Economic Papers 2008 - 2015 506, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    15. Javier Andres & Oscar Arce & Dominik Thaler & Carlos Thomas, 2020. "When Fiscal Consolidation Meets Private Deleveraging," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 214-233, July.
    16. James Cloyne & Òscar Jordà & Alan M. Taylor, 2020. "Decomposing the Fiscal Multiplier," Working Paper Series 2020-12, Federal Reserve Bank of San Francisco.
    17. Mirdala, Rajmund & Kameník, Martin, 2017. "Effects of Fiscal Policy Shocks in CE3 Countries (TVAR Approach)," MPRA Paper 79918, University Library of Munich, Germany.
    18. Bjørnskov, Christian, 2016. "Economic freedom and economic crises," European Journal of Political Economy, Elsevier, vol. 45(S), pages 11-23.
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    20. Matteo Fragetta & Roberto Tamborini, 2017. "It’s not austerity. Or is it? Assessing the effect of austerity on growth in Europe, 2010-15," DEM Working Papers 2017/10, Department of Economics and Management.
    21. Cyntia Freitas Azevedo, 2018. "Fiscal Stimulus at the Zero Lower Bound: the role of expectations and policy coordination," Working Papers Series 486, Central Bank of Brazil, Research Department.
    22. Simona Lorena Comi & Elena Cottini & Claudio Lucifora, 2020. "The effect of retirement on social relationships: new evidence from SHARE," DISCE - Working Papers del Dipartimento di Economia e Finanza def088, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    23. Jianxin Wu & Yanrui Wu & Bing Wang, 2018. "Local Government Debt, Factor Misallocation and Regional Economic Performance in China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 26(4), pages 82-105, July.
    24. Ioanna Bardaka & Ioannis Bournakis & Georgia Kaplanoglou, 2018. "Total factor productivity (TFP) and fiscal consolidation: how harmful is austerity?," Working Papers 255, Bank of Greece.
    25. Cimadomo, Jacopo & Hauptmeier, Sebastian & Sola, Sergio, 2011. "Identifying the effects of government spending shocks with and without expected reversal: an approach based on U.S. real-time data," Working Paper Series 1361, European Central Bank.
    26. Shen, Wenyi & Yang, Shu-Chun S. & Zanna, Luis-Felipe, 2018. "Government spending effects in low-income countries," Journal of Development Economics, Elsevier, vol. 133(C), pages 201-219.
    27. Andrzej Torój & Elżbieta Bednarek & Joanna Bęza-Bojanowska & Joanna Osińska & Katarzyna Waćko & Dariusz Witkowski, 2012. "EMU: the (post-)crisis perspective. Literature survey and implications for the euro-candidates," MF Working Papers 12, Ministry of Finance in Poland.
    28. Gomez-Gonzalez, Jose E. & Valencia, Oscar M. & Sánchez, Gustavo A., 2022. "How fiscal rules can reduce sovereign debt default risk," Emerging Markets Review, Elsevier, vol. 50(C).
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    30. Dupor, Bill & Li, Jingchao & Li, Rong, 2019. "Sticky wages, private consumption, and Fiscal multipliers," Journal of Macroeconomics, Elsevier, vol. 62(C).
    31. Gabriela Castro & José R. Maria & Vanda Almeida, 2011. "Fiscal Consolidation in a Small Euro Area Economy," Working Papers w201105, Banco de Portugal, Economics and Research Department.
    32. Wu, Yanrui, 2014. "Local government debt and economic growth in China," BOFIT Discussion Papers 20/2014, Bank of Finland Institute for Emerging Economies (BOFIT).
    33. Andrea Boitani & Salvatore Perdichizzi, 2018. "Public Expenditure Multipliers in recessions. Evidence from the Eurozone," DISCE - Working Papers del Dipartimento di Economia e Finanza def068, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    34. Javier Andrés & José E. Boscá & Javier Ferri, 2016. "Instruments, rules, and household debt: the effects of fiscal policy," Oxford Economic Papers, Oxford University Press, vol. 68(2), pages 419-443.
    35. Roberto Tamborini, 2024. "Good Debt or Bad Debt?," CESifo Working Paper Series 11503, CESifo.
    36. Henning Bohn, 2010. "The Economic Consequences of Rising U.S. Government Debt: Privileges at Risk," CESifo Working Paper Series 3079, CESifo.
    37. Rossana MEROLA, 2012. "Monetary policy and fiscal stimulus with the zero lower bound and financial frictions," LIDAM Discussion Papers IRES 2012024, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    38. Rozina Shaheen & Paul Turner, 2020. "Fiscal multipliers and the level of economic activity: a structural threshold VAR model for the UK," Applied Economics, Taylor & Francis Journals, vol. 52(17), pages 1857-1865, April.
    39. Salvador Barrios & Sven Langedijk & Lucio Pench, 2010. "EU fiscal consolidation after the financial crisis. Lessons from past experiences," European Economy - Economic Papers 2008 - 2015 418, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    40. Borsi, Mihály Tamás, 2018. "Fiscal multipliers across the credit cycle," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 135-151.
    41. Giancarlo Corsetti & Keith Kuester & Gernot J. Müller, 2013. "Floats, Pegs and the Transmission of Fiscal Policy," Central Banking, Analysis, and Economic Policies Book Series, in: Luis Felipe Céspedes & Jordi Galí (ed.),Fiscal Policy and Macroeconomic Performance, edition 1, volume 17, chapter 7, pages 235-281, Central Bank of Chile.
    42. J. A. Carrillo & C. Poilly, 2012. "How do financial frictions affect the spending multiplier during a liquidity trap?," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 12/779, Ghent University, Faculty of Economics and Business Administration.
    43. António Afonso & João Tovar Jalles, 2011. "Growth and Productivity: the role of Government Debt," Working Papers Department of Economics 2011/13, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    44. Erceg, Christopher J. & Lindé, Jesper, 2013. "Fiscal consolidation in a currency union: Spending cuts vs. tax hikes," Journal of Economic Dynamics and Control, Elsevier, vol. 37(2), pages 422-445.
    45. Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Truger, Achim & Wieland, Volker, 2019. "Den Strukturwandel meistern. Jahresgutachten 2019/20 [Dealing with Structural Change. Annual Report 2019/20]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201920.
    46. Alexander W. Richter, 2013. "The Fiscal Limit and Non-Ricardian Consumers," Auburn Economics Working Paper Series auwp2013-19, Department of Economics, Auburn University.
    47. Reicher, Christopher Phillip, 2012. "An estimated fiscal Taylor Rule for the postwar United States," Economics Letters, Elsevier, vol. 114(3), pages 319-321.
    48. Charl Jooste & Marina Marinkov, 2012. "South Africa'S Transition To A Consolidated Budget," South African Journal of Economics, Economic Society of South Africa, vol. 80(2), pages 181-199, June.
    49. Bletzinger, Tilman & Lalik, Magdalena, 2017. "The impact of constrained monetary policy on fiscal multipliers on output and inflation," Working Paper Series 2019, European Central Bank.
    50. Naser Yenus Nuru, 2023. "Public spending, credit market conditions and economic activity in South Africa," South African Journal of Economics, Economic Society of South Africa, vol. 91(3), pages 394-415, September.
    51. Mitra, Kaushik & Evans, George W. & Honkapohja, Seppo, 2019. "Fiscal Policy Multipliers In An Rbc Model With Learning," Macroeconomic Dynamics, Cambridge University Press, vol. 23(1), pages 240-283, January.
    52. Manel Antelo & David Peón, 2014. "Fiscal consolidation and the sustainability of public debt in the GIPSI countries," Cuadernos de Economía - Spanish Journal of Economics and Finance, Asociación Cuadernos de Economía, vol. 37(103), pages 52-71, Abril.
    53. Yasuharu Iwata, 2011. "The Government Spending Multiplier and Fiscal Financing: Insights from Japan," International Finance, Wiley Blackwell, vol. 14(2), pages 231-264, June.
    54. Born, Benjamin & Müller, Gernot & Pfeifer, Johannes, 2014. "Does austerity pay off?," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100301, Verein für Socialpolitik / German Economic Association.
    55. Bill Dupor & Jingchao Li & Rong Li, 2017. "Sticky Wages, Monetary Policy and Fiscal Policy Multipliers," Working Papers 2017-7, Federal Reserve Bank of St. Louis.
    56. Menzie Chinn, 2013. "fiscal multipliers," The New Palgrave Dictionary of Economics,, Palgrave Macmillan.
    57. Giancarlo Corsetti & Michael P. Devereux & Luigi Guiso & John Hassler & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Xavier Vives, 2010. "Chapter 3: From Fiscal Rescue to Global Debt," EEAG Report on the European Economy, CESifo, vol. 0, pages 71-100, February.
    58. Giancarlo Corsetti & Gernot J. Müller, 2011. "Multilateral Economic Cooperation and the International Transmission of Fiscal Policy," NBER Working Papers 17708, National Bureau of Economic Research, Inc.
    59. Andrea Boitani & Salvatore Perdichizzi & Chiara Punzo, 2020. "Nonlinearities and expenditure multipliers in the Eurozone," DISCE - Working Papers del Dipartimento di Economia e Finanza def089, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    60. Mirdala, Rajmund, 2016. "Effects of Fiscal Policy Shocks in the Euro Area (Lessons Learned from Fiscal Consolidation)," MPRA Paper 79920, University Library of Munich, Germany.
    61. Francesco Caprioli & Sandro Momigliano, 2011. "The effects of fiscal shocks with debt-stabilizing budgetary policies in Italy," Temi di discussione (Economic working papers) 839, Bank of Italy, Economic Research and International Relations Area.
    62. Iwata, Yasuharu, 2013. "Two fiscal policy puzzles revisited: New evidence and an explanation," Journal of International Money and Finance, Elsevier, vol. 33(C), pages 188-207.
    63. Enrique G. Mendoza & Vivian Z. Yue, 2011. "A General Equilibrium Model of Sovereign Default and Business Cycles," NBER Working Papers 17151, National Bureau of Economic Research, Inc.
    64. Mario Alloza & Javier Andrés & Pablo Burriel & Iván Kataryniuk & Javier J. Pérez & Juan Luis Vega, 2021. "La reforma del marco de gobernanza de la política fiscal de la Unión Europea en un nuevo entorno macroeconómico," Occasional Papers 2121, Banco de España.
    65. Jan in 't Veld & Werner Roeger, 2012. "Evaluating the Macroeconomic Effects of Government Support Measures to Financial Institutions in the EU," European Economy - Economic Papers 2008 - 2015 453, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    66. Hettig, Thomas & Müller, Gernot J., 2018. "Fiscal policy coordination in currency unions at the effective lower bound," Journal of International Economics, Elsevier, vol. 115(C), pages 80-98.
    67. Bi, Huixin & Shen, Wenyi & Yang, Shu-Chun S., 2016. "Debt-dependent effects of fiscal expansions," European Economic Review, Elsevier, vol. 88(C), pages 142-157.
    68. Mestre, Ricardo & Sousa, João & Jacquinot, Pascal & Gomes, Sandra, 2010. "Global policy at the zero lower bound in a large-scale DSGE model," Working Paper Series 1254, European Central Bank.
    69. Rajmund Mirdala, 2013. "Lessons Learned from Tax vs. Expenditure Based Fiscal Consolidation in the European Transition Economies," William Davidson Institute Working Papers Series wp1058, William Davidson Institute at the University of Michigan.
    70. Andrew Hughes Hallett, 2012. "Alberto Alesina: The Science of Using Political Economy Concepts to Explain the Macroeconomic Landscape," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 40(4), pages 351-365, December.
    71. Roberto Tamborini, 2012. "Market opinions, fundamentals and the euro-sovereign debt crisis," Department of Economics Working Papers 1210, Department of Economics, University of Trento, Italia.
    72. Tapsoba, Sampawende J.-A., 2014. "Options and strategies for fiscal consolidation in India," Economic Modelling, Elsevier, vol. 43(C), pages 225-237.
    73. Eddie Gerba & Klemens Hauzenberger, 2013. "Estimating US Fiscal and Monetary Interactions in a Time Varying VAR," Studies in Economics 1303, School of Economics, University of Kent.
    74. Coccia, Mario, 2017. "Asymmetric paths of public debts and of general government deficits across countries within and outside the European monetary unification and economic policy of debt dissolution," The Journal of Economic Asymmetries, Elsevier, vol. 15(C), pages 17-31.
    75. Mirdala, Rajmund, 2013. "Lessons Learned from Tax versus Expenditure Based Fiscal Consolidation in the European Transition Economies," MPRA Paper 46792, University Library of Munich, Germany.
    76. Papageorgiou, Dimitris, 2012. "Fiscal policy reforms in general equilibrium: The case of Greece," Journal of Macroeconomics, Elsevier, vol. 34(2), pages 504-522.
    77. Merola, Rossana, 2010. "Financial frictions and the zero lower bound on interest rates: a DSGE analysis," MPRA Paper 29365, University Library of Munich, Germany.
    78. Olgica Glavaški & Emilija Beker Pucar, 2021. "Heterogeneity of fiscal adjustments in EU economies in the pre- and post-crisis periods: common correlated effects approach," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 11(1), pages 191-226, March.
    79. Salvador Barrios & Jonathan Pycroft & Bert Saveyn, 2013. "The marginal cost of public funds in the EU: the case of labour versus green taxes," Taxation Papers 35, Directorate General Taxation and Customs Union, European Commission.
    80. Gianluca Cafiso & Roberto Cellini, 2012. "Evidence on Fiscal Consolidations and the Evolution of Public Debt in Europe," CESifo Working Paper Series 4027, CESifo.
    81. Mayer, Eric & Stähler, Nikolai, 2009. "The debt brake: business cycle and welfare consequences of Germany's new fiscal policy rule," Discussion Paper Series 1: Economic Studies 2009,24, Deutsche Bundesbank.
    82. Keith Kuester, 2011. "The effectiveness of government spending in deep recessions: a New Keynesian perspective," Business Review, Federal Reserve Bank of Philadelphia, issue Q3, pages 14-20.
    83. Mario Alloza & Javier Andrés & Pablo Burriel & Iván Kataryniuk & Javier J. Pérez & Juan Luis Vega, 2021. "The reform of the european Union’s fiscal governance Framework in a new Macroeconomic environment," Occasional Papers 2121, Banco de España.
    84. Goldberg, Andrew & Romalis, John, 2015. "Public Debt and Growth in U.S. States," Working Papers 2015-10, University of Sydney, School of Economics.
    85. Giuliana Passamani & Roberto Tamborini & Matteo Tomaselli, 2014. "Sustainability vs. credibility of fiscal consolidation. A Principal Components test for the Euro Zone," DEM Discussion Papers 2014/09, Department of Economics and Management.

  47. Müller, Gernot & Cardi, Olivier, 2010. "Habit Formation and Fiscal Transmission in Open Economies," CEPR Discussion Papers 8035, C.E.P.R. Discussion Papers.

    Cited by:

    1. Olivier CARDI & Peter CLAEYS & Romain RESTOUT, 2017. "Imperfect mobility of labor across sectors and fiscal transmission," LIDAM Discussion Papers IRES 2017015, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    2. Olivier Cardi & Gernot J. Muller, 2010. "Habit Formation and Fiscal Transmission in Open Economies," Working Papers hal-00544484, HAL.
    3. Makin, Anthony J. & Ratnasiri, Shyama, 2022. "Do expenditure shocks affect GDP or trade balances in deficit-prone advanced economies?," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 930-937.
    4. Makin, Anthony J. & Ratnasiri, Shyama, 2023. "New estimates of international capital mobility for select OECD economies," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 127-138.
    5. Olivier Cardi & Romain Restout, 2011. "Fiscal Shocks in a Two Sector Open Economy," TEPP Working Paper 2011-07, TEPP.
    6. Makin, Anthony J. & Narayan, Paresh Kumar & Narayan, Seema, 2014. "What expenditure does Anglosphere foreign borrowing fund?," Journal of International Money and Finance, Elsevier, vol. 40(C), pages 63-78.
    7. Müller, Gernot & Born, Benjamin & Juessen, Falko, 2012. "Exchange rate regimes and fiscal multipliers," CEPR Discussion Papers 8986, C.E.P.R. Discussion Papers.
    8. Virkola, Tuomo, 2014. "Exchange Rate Regime, Fiscal Foresight and the Effectiveness of Fiscal Policy in a Small Open Economy," ETLA Reports 20, The Research Institute of the Finnish Economy.
    9. Cavalcanti, Marco A. F. H. & Vereda, Luciano, 2015. "Fiscal Policy Multipliers in a DSGE Model for Brazil," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 35(2), March.

  48. Corsetti, Giancarlo & Müller, Gernot & Meier, André, 2009. "Cross-border spillovers from fiscal stimulus," CEPR Discussion Papers 7535, C.E.P.R. Discussion Papers.

    Cited by:

    1. Kunzmann Vanessa, 2022. "Effects of Cross Country Fiscal Interdependence on Multipliers within a Monetary Union," Working Papers 216, Bavarian Graduate Program in Economics (BGPE).
    2. Faia, Ester & Lechthaler, Wolfgang & Merkl, Christian, 2013. "Fiscal stimulus and labor market policies in Europe," Journal of Economic Dynamics and Control, Elsevier, vol. 37(3), pages 483-499.
    3. Matthias Molnar & Thomas Davoine, 2017. "Cross-country fiscal policy spillovers and capital-skill complementarity in currency unions," EcoMod2017 10275, EcoMod.
    4. Merkl, Christian & Faia, Ester & Lechthaler, Wolfgang, 2010. "Fiscal Multipliers and the Labour Market in the Open Economy," Open Access Publications from Kiel Institute for the World Economy 37509, Kiel Institute for the World Economy (IfW Kiel).
    5. Alan J. Auerbach & Yuriy Gorodnichenko, 2013. "Output Spillovers from Fiscal Policy," American Economic Review, American Economic Association, vol. 103(3), pages 141-146, May.
    6. Clancy, Daragh & Jacquinot, Pascal & Lozej, Matija, 2014. "The Effects of Government Spending in a Small Open Economy within a Monetary Union," Research Technical Papers 12/RT/14, Central Bank of Ireland.
    7. Badarau, Cristina & Huart, Florence & Sangaré, Ibrahima, 2021. "Macroeconomic and policy implications of eurobonds," International Review of Law and Economics, Elsevier, vol. 65(C).
    8. Laurent Ferrara & Luca Metelli & Filippo Natoli & Daniele Siena, 2020. "Questioning the puzzle: Fiscal policy, exchange rate and inflation," Working papers 752, Banque de France.
    9. J. Boussard & B. Campagne, 2017. "Fiscal Policy Coordination in a Monetary Union at the Zero-Lower-Bound," Documents de Travail de l'Insee - INSEE Working Papers g2017-05, Institut National de la Statistique et des Etudes Economiques.
    10. Naraidoo, Ruthira & Schaling, Eric & Tesfaselassie, Mewael F., 2017. "Cross-border spill-overs from fiscal stimulus in a monetary union," Economic Modelling, Elsevier, vol. 65(C), pages 95-105.
    11. Hebous, Shafik, 2009. "The Effects of Discretionary Fiscal Policy on Macroeconomic Aggregates: A Reappraisal," MPRA Paper 23300, University Library of Munich, Germany, revised Jun 2010.
    12. Degiannakis, Stavros & Duffy, David & Filis, George & Livada, Alexandra, 2016. "Business cycle synchronisation in EMU: Can fiscal policy bring member-countries closer?," Economic Modelling, Elsevier, vol. 52(PB), pages 551-563.
    13. Ilori, Ayobami E. & Paez-Farrell, Juan & Thoenissen, Christoph, 2022. "Fiscal policy shocks and international spillovers," European Economic Review, Elsevier, vol. 141(C).
    14. Faccini, Renato & Mumtaz, Haroon & Surico, Paolo, 2016. "International fiscal spillovers," Journal of International Economics, Elsevier, vol. 99(C), pages 31-45.
    15. Liu, Shih-fu & Huang, Wei-chi & Lai, Ching-chong, 2020. "Could Fiscal Policies Overcome a Deep Recession at the Zero Lower Bound?," MPRA Paper 99842, University Library of Munich, Germany.
    16. Drygalla, Andrej & Holtemöller, Oliver & Kiesel, Konstantin, 2017. "The effects of fiscal policy in an estimated DSGE model: The case of the German stimulus packages during the great recession," IWH Discussion Papers 34/2017, Halle Institute for Economic Research (IWH).
    17. Vetlov, Igor & Attinasi, Maria Grazia & Lalik, Magdalena, 2017. "Fiscal spillovers in the euro area a model-based analysis," Working Paper Series 2040, European Central Bank.
    18. Bicu, A.C. & Lieb, L.M., 2015. "Cross-border effects of fiscal policy in the Eurozone," Research Memorandum 019, Maastricht University, Graduate School of Business and Economics (GSBE).
    19. İrem Zeyneloğlu & Gilbert Koenig, 2016. "Recent Economic Developments and the Implications for Fiscal Policy in Open Economy Macroeconomics," Revue d'économie politique, Dalloz, vol. 126(6), pages 1023-1056.
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    3. Deleidi, Matteo & Iafrate, Francesca & Levrero, Enrico Sergio, 2020. "Public investment fiscal multipliers: An empirical assessment for European countries," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 354-365.
    4. Piotr Ciżkowicz & Andrzej Rzońca & Rafał Trzeciakowski, 2015. "Membership in the Euro area and fiscal sustainability - Analysis through panel fiscal reaction functions," a/ Working Papers Series 1501, Italian Association for the Study of Economic Asymmetries, Rome (Italy).
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    6. Olivier CARDI & Peter CLAEYS & Romain RESTOUT, 2017. "Imperfect mobility of labor across sectors and fiscal transmission," LIDAM Discussion Papers IRES 2017015, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    7. Nicolas-Guillaume Martineau & Gregor W. Smith, 2014. "Identifying Fiscal Policy (in)effectiveness From The Differential Counter-cyclicality Of Government Spending In The Interwar Period," Working Paper 1290, Economics Department, Queen's University.
    8. Konstantinou, Panagiotis Th. & Partheniou, Andromachi, 2021. "The Effects of Government Spending Over the Business Cycle: A Disaggregated Analysis for OECD and Non-OECD Countries," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 809-822.
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    10. Berg, Tim Oliver, 2019. "Business Uncertainty And The Effectiveness Of Fiscal Policy In Germany," Macroeconomic Dynamics, Cambridge University Press, vol. 23(4), pages 1442-1470, June.
    11. Panagiotis Th. Konstantinou & Andromachi Partheniou & Athanasios Tagkalakis, 2025. "A Functional Classification Analysis of Government Spending Multipliers," Open Economies Review, Springer, vol. 36(4), pages 1157-1192, September.
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    13. Juessen, Falko & Linnemann, Ludger, 2012. "Markups and fiscal transmission in a panel of OECD countries," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 674-686.
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    17. A. S. Benetrix & P. R. Lane, 2013. "Fiscal Shocks and the Real Exchange Rate," International Journal of Central Banking, International Journal of Central Banking, vol. 9(3), pages 6-37, September.
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    19. Robert C. M. Beyer & Lazar Milivojevic, 2021. "Fiscal policy and economic activity in South Asia," Review of Development Economics, Wiley Blackwell, vol. 25(1), pages 340-358, February.
    20. Berg Tim Oliver, 2015. "Time Varying Fiscal Multipliers in Germany," Review of Economics, De Gruyter, vol. 66(1), pages 13-46, April.
    21. Amat Adarov & Ugo Panizza, 2024. "Public Investment Quality and its Implications for Sovereign Risk and Debt Sustainability," IHEID Working Papers 12-2024, Economics Section, The Graduate Institute of International Studies.
    22. Proebsting, Christian, 2022. "Market segmentation and spending multipliers," Journal of Monetary Economics, Elsevier, vol. 128(C), pages 1-19.
    23. Mr. Tidiane Kinda & Andras Lengyel & Kaustubh Chahande, 2022. "Fiscal Multipliers During Pandemics," IMF Working Papers 2022/149, International Monetary Fund.
    24. Gabriel Temesgen Woldu & Izabella Szakálné Kanó, 2023. "Fiscal multipliers and structural economic characteristics: Evidence from countries in sub‐Saharan Africa," The World Economy, Wiley Blackwell, vol. 46(8), pages 2335-2360, August.
    25. Nicolas Carnot & Francisco de Castro, 2015. "The Discretionary Fiscal Effort: An Assessment of Fiscal Policy and Its Output Effect," Hacienda Pública Española / Review of Public Economics, IEF, vol. 215(4), pages 63-94, December.
    26. Klein, Mathias & Winkler, Roland, 2018. "The Government Spending Multiplier at the Zero Lower Bound: International Evidence from Historical Data," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181524, Verein für Socialpolitik / German Economic Association.
    27. Latifi, Albina & Naboka-Krell, Viktoriia & Tillmann, Peter & Winker, Peter, 2024. "Fiscal policy in the Bundestag: Textual analysis and macroeconomic effects," European Economic Review, Elsevier, vol. 168(C).
    28. Born, Benjamin & Müller, Gernot & Pfeifer, Johannes, 2014. "Does austerity pay off?," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100301, Verein für Socialpolitik / German Economic Association.
    29. Nickel, Christiane & Tudyka, Andreas, 2013. "Fiscal stimulus in times of high debt: reconsidering multipliers and twin deficits," Working Paper Series 1513, European Central Bank.
    30. Matthias Uhl, 2014. "State Fiscal Policies and Regional Economic Activity," MAGKS Papers on Economics 201446, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    31. Dragomirescu-Gaina, Catalin & Philippas, Dionisis, 2015. "Strategic interactions of fiscal policies in Europe: A global VAR perspective," Journal of International Money and Finance, Elsevier, vol. 59(C), pages 49-76.
    32. Baussola, Maurizio & Carvelli, Gianni, 2023. "Public and private investments: Long-run asymmetric effects in France and the US," Finance Research Letters, Elsevier, vol. 58(PA).
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    34. Abdul Abiad & Margarita Debuque-Gonzales & Andrea Loren Sy, 2017. "The Role and Impact of Infrastructure in Middle-Income Countries: Anything Special?," ADB Economics Working Paper Series 518, Asian Development Bank.
    35. Müller, Gernot & Born, Benjamin & Juessen, Falko, 2012. "Exchange rate regimes and fiscal multipliers," CEPR Discussion Papers 8986, C.E.P.R. Discussion Papers.
    36. Roel Beetsma & Massimo Giuliodori, 2011. "The Effects of Government Purchases Shocks: Review and Estimates for the EU," Economic Journal, Royal Economic Society, vol. 121(550), pages 4-32, February.
    37. Hebous, Shafik & Zimmermann, Tom, 2013. "Estimating the effects of coordinated fiscal actions in the euro area," European Economic Review, Elsevier, vol. 58(C), pages 110-121.
    38. Maria Cristina Barbieri Góes & Giovanna Ciaffi & Santiago José Gahn, 2025. "Le grandi Opere Pubbliche: fiscal multipliers of public infrastructure in Italy (1870–1998)," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 42(1), pages 155-180, April.
    39. Abdul Abiad & Margarita Debuque-Gonzales & Andrea Loren Sy, 2018. "The Evolution and Impact of Infrastructure in Middle-Income Countries: Anything Special?," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 54(6), pages 1239-1263, May.
    40. Giovanna Ciaffi & Matteo Deleidi & Mariana Mazzucato, 2024. "Measuring the macroeconomic responses to public investment in innovation: evidence from OECD countries," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 33(2), pages 363-382.
    41. Saccone, Donatella & Posta, Pompeo Della & Marelli, Enrico & Signorelli, Marcello, 2022. "Public investment multipliers by functions of government: An empirical analysis for European countries," Structural Change and Economic Dynamics, Elsevier, vol. 60(C), pages 531-545.

  51. Müller, Gernot J. & Kuester, Keith & Stölting, Sarah, 2007. "Is the New Keynesian Phillips curve flat?," Working Paper Series 809, European Central Bank.

    Cited by:

    1. Cole, Stephen J., 2018. "The effectiveness of central bank forward guidance under inflation and price-level targeting," Journal of Macroeconomics, Elsevier, vol. 55(C), pages 146-161.
    2. Medel, Carlos A., 2017. "Forecasting Chilean Inflation with the Hybrid New Keynesian Phillips Curve: Globalisation, Combination, and Accuracy," MPRA Paper 78439, University Library of Munich, Germany.
    3. Stephan Sauer, 2010. "Discretion Rather Than Rules? When Is Discretionary Policymaking Better Than the Timeless Perspective?," International Journal of Central Banking, International Journal of Central Banking, vol. 6(2), pages 1-29, June.
    4. Medel, Carlos A., 2015. "Forecasting Inflation with the Hybrid New Keynesian Phillips Curve: A Compact-Scale Global VAR Approach," MPRA Paper 67081, University Library of Munich, Germany.
    5. Patrick Minford & Zhirong Ou & Michael Wickens, 2015. "Revisiting the Great Moderation: Policy or Luck?," Open Economies Review, Springer, vol. 26(2), pages 197-223, April.
    6. Mavroeidis, Sophocles & Plagborg-Moller, Mikkel & Stock, James H., 2014. "Empirical Evidence on Inflation Expectations in the New Keynesian Phillips Curve," Scholarly Articles 22795845, Harvard University Department of Economics.
    7. Martina Cecioni, 2010. "Firm entry, competitive pressures and the US inflation dynamics," Temi di discussione (Economic working papers) 773, Bank of Italy, Economic Research and International Relations Area.
    8. Minford, Patrick & Ou, Zhirong, 2009. "Taylor Rule or Optimal Timeless Policy? Reconsidering the Fed's behaviour since 1982," Cardiff Economics Working Papers E2009/19, Cardiff University, Cardiff Business School, Economics Section, revised May 2010.
    9. Oinonen, Sami & Vilmi, Lauri, 2021. "Analysing euro area inflation outlook with the Phillips curve," BoF Economics Review 5/2021, Bank of Finland.
    10. Medel, Carlos A., 2015. "A Critical Review of Posch, J. and F. Rumler (2015), 'Semi-Structural Forecasting of UK Inflation Based on the Hybrid New Keynesian Phillips Curve,' Journal of Forecasting 34(2): 145-62," MPRA Paper 65665, University Library of Munich, Germany.
    11. Jean-Paul L'Huillier & William R. Zame, 2015. "The Flattening of the Phillips Curve and the Learning Problem of the Central Bank," EIEF Working Papers Series 1503, Einaudi Institute for Economics and Finance (EIEF), revised Oct 2014.
    12. Dino Martellato, 2008. "Economic Integration and Macroeconomic Convergence in the Euro Area," Working Papers 2008_34, Department of Economics, University of Venice "Ca' Foscari".
    13. Krogh, Tord S., 2015. "Macro frictions and theoretical identification of the New Keynesian Phillips curve," Journal of Macroeconomics, Elsevier, vol. 43(C), pages 191-204.
    14. Daniela Milučká, 2014. "Inflation dynamics in the Czech Republic: Estimation of the New Keynesian Phillips curve," International Journal of Economic Sciences, Prague University of Economics and Business, vol. 2014(2), pages 53-70.

  52. Gernot Mueller & Giancarlo Corsetti, 2007. "International Dimensions of Fiscal Policy Transmission," 2007 Meeting Papers 726, Society for Economic Dynamics.

    Cited by:

    1. Buiter, Willem H. & Sibert, Anne C., 2016. "Government deficits in large open economies: The problem of too little public debt," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 10, pages 1-39.
    2. Giancarlo Corsetti & Gernot J. Müller, 2008. "Twin Deficits, Openness, and the Business Cycle," Journal of the European Economic Association, MIT Press, vol. 6(2-3), pages 404-413, 04-05.
    3. Okano, Eiji & Eguchi, Masataka, 2021. "The Effects of Money-financed Fiscal Stimulus in a Small Open Economy," Dynare Working Papers 70, CEPREMAP.
    4. Rafiq, Sohrab, 2010. "Fiscal stance, the current account and the real exchange rate: Some empirical estimates from a time-varying framework," Structural Change and Economic Dynamics, Elsevier, vol. 21(4), pages 276-290, November.

  53. Corsetti, Giancarlo & Müller, Gernot, 2007. "Twin Deficits, Openness and the Business Cycle," CEPR Discussion Papers 6492, C.E.P.R. Discussion Papers.

    Cited by:

    1. Martin Boileau & Michel Normandin, 2008. "Do Tax Cuts Generate Twin Deficits? A Multi-Country Analysis," Cahiers de recherche 0832, CIRPEE.
    2. Enders, Zeno & Müller, Gernot J. & Scholl, Almuth, 2008. "How do fiscal and technology shocks affect real exchange rates? New evidence for the United States," CFS Working Paper Series 2008/22, Center for Financial Studies (CFS).
    3. Saeidinezhad, Elham, 2014. "The International Spillover of Fiscal and Technology Shocks before the Crisis: The case of the UK and Italy," MPRA Paper 98556, University Library of Munich, Germany.
    4. Gerali, Andrea & Locarno, Alberto & Notarpietro, Alessandro & Pisani, Massimiliano, 2018. "The sovereign crisis and Italy’s potential output," Journal of Policy Modeling, Elsevier, vol. 40(2), pages 418-433.
    5. Christopher J. Gust & Nathan Sheets, 2006. "The Adjustment of Global External Imbalances: Does Partial Exchange Rate Pass-Through to Trade Prices Matter?," International Finance Discussion Papers 850, Board of Governors of the Federal Reserve System (U.S.).
    6. Athanasios Tagkalakis, 2015. "Fiscal policy, net exports, and the sectoral composition of output in Greece," International Economics and Economic Policy, Springer, vol. 12(4), pages 521-539, October.
    7. Hayo, Bernd & Mierzwa, Sascha, 2023. "The effect of legislated tax changes on the trade balance: Empirical evidence for the United States, Germany, and the United Kingdom," Journal of Macroeconomics, Elsevier, vol. 78(C).
    8. Horag Choi & Nelson C. Mark, 2009. "Trending Current Accounts," NBER Working Papers 15244, National Bureau of Economic Research, Inc.
    9. Angelini, Elena & Ca' Zorzi, Michele & Forster, Katrin, 2014. "External and macroeconomic adjustment in the larger euro area countries," Working Paper Series 1647, European Central Bank.
    10. Andrea Gerali & Alberto Locarno & Alessandro Notarpietro & Massimiliano Pisani, 2015. "Every cloud has a silver lining. The sovereign crisis and Italian potential output," Temi di discussione (Economic working papers) 1010, Bank of Italy, Economic Research and International Relations Area.
    11. Bicu, A.C. & Lieb, L.M., 2015. "Cross-border effects of fiscal policy in the Eurozone," Research Memorandum 019, Maastricht University, Graduate School of Business and Economics (GSBE).
    12. Helena Glebocki Keefe & Ralf Hepp, 2024. "The effects of European fiscal discipline measures on current account balances," International Economics and Economic Policy, Springer, vol. 21(1), pages 251-283, February.
    13. James Feyrer & Jay Shambaugh, 2012. "Global Savings and Global Investment: The Transmission of Identified Fiscal Shocks," American Economic Journal: Economic Policy, American Economic Association, vol. 4(2), pages 95-114, May.
    14. Sarno, Lucio & Fratzscher, Marcel & Juvenal, Luciana, 2009. "Asset Prices, Exchange Rates and the Current Account," CEPR Discussion Papers 7614, C.E.P.R. Discussion Papers.
    15. Athanasios Tagkalakis, 2014. "Discretionary fiscal policy and economic activity in Greece," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 41(4), pages 687-712, November.
    16. Ippei Fujiwara & Kozo Ueda, 2010. "The Fiscal Multiplier and Spillover in a Global Liquidity Trap," IMES Discussion Paper Series 10-E-03, Institute for Monetary and Economic Studies, Bank of Japan.
    17. Samuele Murtinu & Giulio Piccirilli & Agnese Sacchi, 2016. "Fiscal Policy, Government Polarization, and the Economic Literacy of Voters," Working papers 50, Società Italiana di Economia Pubblica.
    18. Philip Lane, 2010. "Some Lessons for Fiscal Policy from the Financial Crisis," The Institute for International Integration Studies Discussion Paper Series iiisdp334, IIIS.
    19. Alberto Locarno & Alessandro Notarpietro & Massimiliano Pisani, 2013. "Sovereign risk, monetary policy and fiscal multipliers: a structural model-based assessment," Temi di discussione (Economic working papers) 943, Bank of Italy, Economic Research and International Relations Area.
    20. Mallick, Lingaraj & Behera, Smruti Ranjan & Murthy, R.V. Ramana, 2021. "Does the twin deficit hypothesis exist in India? Empirical evidence from an asymmetric non-linear cointegration approach," The Journal of Economic Asymmetries, Elsevier, vol. 24(C).
    21. Sajal Lahiri & A. K. M. Mahbub Morshed, 2010. "Current Account Imbalances and Foreign Investment: A Theoretical Analysis of Interrelationships and Causalities," Review of International Economics, Wiley Blackwell, vol. 18(2), pages 369-381, May.
    22. Lane, Philip R., 2009. "A New Fiscal Strategy for Ireland," The Economic and Social Review, Economic and Social Studies, vol. 40(2), pages 233-253.
    23. Hürtgen, Patrick & Rühmkorf, Ronald, 2014. "Sovereign default risk and state-dependent twin deficits," Journal of International Money and Finance, Elsevier, vol. 48(PB), pages 357-382.
    24. Kim, Hyeongwoo & Lee, Daeyup, 2018. "The effects of government spending shocks on the trade account balance in Korea," International Review of Economics & Finance, Elsevier, vol. 53(C), pages 57-70.

  54. Zeno Enders & Gernot J. Mueller, 2006. "S-Curve Redux: On the International Transmission of Technology Shocks," Economics Working Papers ECO2006/36, European University Institute.

    Cited by:

    1. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2006. "Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism Among G7 Countries," NBER Working Papers 12483, National Bureau of Economic Research, Inc.
    2. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2007. "Productivity and the dollar," Working Paper Series 2007-27, Federal Reserve Bank of San Francisco.

  55. Bilbiie, Florin O. & Meier, André & Müller, Gernot J., 2006. "What accounts for the changes in U.S. fiscal policy transmission?," Working Paper Series 582, European Central Bank.

    Cited by:

    1. KLEIN, Mathias & POLATTIMUR, Hamza & WINKLER, Roland, 2020. "Fiscal spending multipliers over the household leverage cycle," Working Papers 2020007, University of Antwerp, Faculty of Business and Economics.
    2. Florin Bilbiie & Roland Straub, 2013. "Asset Market Participation, Monetary Policy Rules, and the Great Inflation," Post-Print hal-00622873, HAL.
    3. Olaf Posch, 2009. "Explaining Output Volatility: The Case of Taxation," CESifo Working Paper Series 2751, CESifo.
    4. Emilia Mioara CAMPEANU, 2012. "How can be investigated the fiscal policy effects on the Romanian economy?," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 80-87, May.
    5. Bilbiie, Florin O. & Meier, André & Müller, Gernot J., 2006. "What accounts for the changes in U.S. fiscal policy transmission?," Working Paper Series 582, European Central Bank.
    6. Deleidi, Matteo & Iafrate, Francesca & Levrero, Enrico Sergio, 2020. "Public investment fiscal multipliers: An empirical assessment for European countries," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 354-365.
    7. Eyno Rots & Barnabas Szekely, 2021. "A Model-Based Comparison of Macroprudential Tools," MNB Working Papers 2021/3, Magyar Nemzeti Bank (Central Bank of Hungary).
    8. Stylianos Asimakopoulos & Marco Lorusso & Luca Pieroni, 2021. "Can public spending boost private consumption?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 54(3), pages 1275-1313, November.
    9. Cimadomo, Jacopo & Bénassy-Quéré, Agnès, 2012. "Changing patterns of fiscal policy multipliers in Germany, the UK and the US," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 845-873.
    10. Matteo Deleidi & Davide Romaniello & Francesca Tosi, 2021. "Quantifying fiscal multipliers in Italy: A Panel SVAR analysis using regional data," Papers in Regional Science, Wiley Blackwell, vol. 100(5), pages 1158-1177, October.
    11. Larsen, Rasmus Bisgaard & Ravn, Søren Hove & Santoro, Emiliano, 2025. "House prices, endogenous productivity, and the effects of government spending shocks," European Economic Review, Elsevier, vol. 172(C).
    12. Mumtaz, Haroon & Theodoridis, Konstantinos, 2020. "Fiscal policy shocks and stock prices in the United States," European Economic Review, Elsevier, vol. 129(C).
    13. Qazi Haque & Nicolas Groshenny & Mark Weder, 2021. "Do we really know that U.S. monetary policy was destabilizing in the 1970s?," Post-Print hal-04204647, HAL.
    14. Collingro, Franziska & Frenkel, Michael, 2022. "Fiscal multipliers in the euro area: A comparative study⋆," The Quarterly Review of Economics and Finance, Elsevier, vol. 84(C), pages 386-397.
    15. António Afonso & Peter Claeys, 2006. "The dynamic behaviour of budget components and output – the cases of France, Germany, Portugal, and Spain," Working Papers Department of Economics 2006/26, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    16. Markus Leibrecht & Johann Scharler, 2015. "Government Size and Business Cycle Volatility: How Important are Credit Constraints?," Economica, London School of Economics and Political Science, vol. 82(326), pages 201-221, April.
    17. Florin O. Bilbiie & Tommaso Monacelli & Roberto Perotti, 2013. "Public Debt and Redistribution with Borrowing Constraints," Economic Journal, Royal Economic Society, vol. 0, pages 64-98, February.
    18. Jan Philipp Fritsche & Mathias Klein & Malte Rieth, 2020. "Government Spending Multipliers in (Un)certain Times," Discussion Papers of DIW Berlin 1901, DIW Berlin, German Institute for Economic Research.
    19. Hyeongwoo Kim & Shuwei Zhang, 2022. "Policy Coordination and the Effectiveness of Fiscal Stimulus," Auburn Economics Working Paper Series auwp2022-01, Department of Economics, Auburn University.
    20. Fernández Romero, Daniel, 2025. "The fiscal multiplier in presence of unconventional monetary policy: Evidence for 17 OECD countries," Economic Modelling, Elsevier, vol. 147(C).
    21. Huang, Kevin X.D. & Liu, Fengqi & Meng, Qinglai & Xue, Jianpo, 2022. "Keeping up with the Joneses and the consumption response to government spending," Economics Letters, Elsevier, vol. 220(C).
    22. Richard McManus, 2013. "Austerity versus Stimulus: A DSGE Political Economy Explanation," Discussion Papers 13/09, Department of Economics, University of York.
    23. Hebous, Shafik, 2009. "The Effects of Discretionary Fiscal Policy on Macroeconomic Aggregates: A Reappraisal," MPRA Paper 23300, University Library of Munich, Germany, revised Jun 2010.
    24. Rocío Betancourt & Hernando Vargas & Norberto Rodríguez., 2008. "Interest Rate Pass-Through in Colombia: a Micro-Banking Perspective," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 45(131), pages 29-58.
    25. Vitor M. Carvalho & Manuel M. F. Martins, 2011. "Macroeconomic effects of fiscal consolidations in a DSGE model for the Euro Area: does composition matter?," FEP Working Papers 421, Universidade do Porto, Faculdade de Economia do Porto.
    26. Corsetti, Giancarlo & Müller, Gernot & Meier, André, 2009. "Cross-border spillovers from fiscal stimulus," CEPR Discussion Papers 7535, C.E.P.R. Discussion Papers.
    27. Giancarlo Corsetti & André Meier & Gernot J. Müller, 2012. "What determines government spending multipliers? [Mafia and public spending: Evidence of the fiscal multiplier from a quasi-experiment’, mimeo]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 27(72), pages 521-565.
    28. Giorgio Motta & Patrizio Tirelli, 2013. "Money Targeting, Heterogeneous Agents and Dynamic Instability," Working Papers 257, University of Milano-Bicocca, Department of Economics, revised Oct 2013.
    29. Yasuharu Iwata & Hirokuni IIboshi, 2023. "The Nexus between Public Debt and the Government Spending Multiplier: Fiscal Adjustments Matter," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 85(4), pages 830-858, August.
    30. Moro, Alessio & Rachedi, Omar, 2018. "The Changing Structure of Government Spending," MPRA Paper 86577, University Library of Munich, Germany.
    31. Jørgensen, Peter L. & Ravn, Søren H., 2022. "The inflation response to government spending shocks: A fiscal price puzzle?," European Economic Review, Elsevier, vol. 141(C).
    32. Shu-Chun S. Yang & Nora Traum, 2011. "When Does Government Debt Crowd Out Investment?," 2011 Meeting Papers 479, Society for Economic Dynamics.
    33. Tommaso Monacelli & Roberto Perotti & Antonella Trigari, 2011. "Taxes and the Labor Market," Working Papers Central Bank of Chile 623, Central Bank of Chile.
    34. Eric M. Leeper & Nora Traum & Todd B. Walker, 2017. "Clearing Up the Fiscal Multiplier Morass," American Economic Review, American Economic Association, vol. 107(8), pages 2409-2454, August.
    35. Giorgio Motta & Patrizio Tirelli, 2011. "Optimal Simple Monetary and Fiscal Rules under Limited Asset Market Participation," Working Papers 204, University of Milano-Bicocca, Department of Economics, revised Mar 2011.
    36. Cimadomo, Jacopo & Hauptmeier, Sebastian & Sola, Sergio, 2011. "Identifying the effects of government spending shocks with and without expected reversal: an approach based on U.S. real-time data," Working Paper Series 1361, European Central Bank.
    37. Kim, Hyeongwoo & Zhang, Shuwei, 2018. "Understanding Why Fiscal Stimulus Can Fail through the Lens of the Survey of Professional Forecasters," MPRA Paper 89326, University Library of Munich, Germany.
    38. Lemoine Matthieu & Jesper Lind, 2021. "Fiscal Stimulus in Liquidity Traps: Conventional or Unconventional Policies?," Working papers 799, Banque de France.
    39. Charalampidis, Nikolaos, 2022. "Top income shares, inequality, and business cycles: United States, 1957–2016," European Economic Review, Elsevier, vol. 150(C).
    40. Bilbiie, Florin, 2018. "Complementarity, Income, and Substitution: A U(C,N) Utility for Macro," CEPR Discussion Papers 12812, C.E.P.R. Discussion Papers.
    41. Cristiano Cantore & Lukas Freund, 2020. "Workers, capitalists, and the government: fiscal policy and income (re)distribution," Bank of England working papers 858, Bank of England.
    42. Ms. Susan S. Yang & Ms. Nora Traum, 2010. "Monetary and Fiscal Policy Interactions in the Post-war U.S," IMF Working Papers 2010/243, International Monetary Fund.
    43. Florin Bilbiie, 2011. "Non-Separable Preferences, Frisch Labor Supply and the Consumption Multiplier of Government Spending: One Solution to a Fiscal Policy Puzzle," Post-Print hal-00622872, HAL.
    44. Mathias Klein & Ludger Linnemann, 2019. "Tax and Spending Shocks in the Open Economy: Are the Deficits Twins?," Discussion Papers of DIW Berlin 1821, DIW Berlin, German Institute for Economic Research.
    45. Ricardo Nunes, 2010. "Inflation Dynamics: The Role of Expectations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(6), pages 1161-1172, September.
    46. Alice Albonico & Guido Ascari & Qazi Haque, 2024. "The (Ir)Relevance of Rule‐of‐Thumb Consumers for U.S. Business Cycle Fluctuations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(4), pages 769-804, June.
    47. Zervou, Anastasia S., 2013. "Financial market segmentation, stock market volatility and the role of monetary policy," European Economic Review, Elsevier, vol. 63(C), pages 256-272.
    48. Vanessa Kunzmann, 2023. "Estimating Regime Dependent Fiscal Spillover Effects in a Monetary Union," Working Papers 227, Bavarian Graduate Program in Economics (BGPE).
    49. Marco Lorusso & Luca Pieroni, 2019. "Disentangling Civilian and Military Spending Shocks: A Bayesian DSGE Approach for the US Economy," JRFM, MDPI, vol. 12(3), pages 1-41, September.
    50. Philip Arestis & John McCombie, 2009. "On The Effectiveness Of Fiscal Policy As An Instrument Of Macroeconomic Policy," Economic Affairs, Wiley Blackwell, vol. 29(1), pages 77-79, March.
    51. Guo, Fei & Kit-Ming Yan, Isabel & Chen, Tao & Hu, Chun-Tien, 2023. "Fiscal multipliers, monetary efficacy, and hand-to-mouth households," Journal of International Money and Finance, Elsevier, vol. 130(C).
    52. Giancarlo Corsetti & Keith Kuester & Gernot J. Müller, 2013. "Floats, Pegs and the Transmission of Fiscal Policy," Central Banking, Analysis, and Economic Policies Book Series, in: Luis Felipe Céspedes & Jordi Galí (ed.),Fiscal Policy and Macroeconomic Performance, edition 1, volume 17, chapter 7, pages 235-281, Central Bank of Chile.
    53. Matthew B. Canzoneri, 2007. "Coordination Of Monetary And Fiscal Policy In A Monetary Union: Policy Issues And Analytical Models," Manchester School, University of Manchester, vol. 75(s1), pages 21-43, September.
    54. Andrea Colciago, 2011. "Rule-of-Thumb Consumers Meet Sticky Wages," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43, pages 325-353, March.
    55. Bilbiie, Florin, 2017. "The Puzzle, the Power, and the Dark Side: Forward Guidance Redux," CEPR Discussion Papers 12231, C.E.P.R. Discussion Papers.
    56. Caldara, Dario & Kamps, Christophe, 2008. "What are the effects of fiscal policy shocks? A VAR-based comparative analysis," Working Paper Series 877, European Central Bank.
    57. Oscar Becerra & Luis Fernando Melo, 2008. "Transmisión de tasas de interés bajo el esquema de metas de inflación: evidencia para Colombia," Borradores de Economia 519, Banco de la Republica de Colombia.
    58. Daniel Dias, 2006. "Measuring the Importance of the Uniform Nonsynchronization Hypothesis," Working Papers w200603, Banco de Portugal, Economics and Research Department.
    59. Sebastian Gechert & Henner Will, 2012. "Fiscal Multipliers: A Meta Regression Analysis," IMK Working Paper 97-2012, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    60. Klein, Mathias & Linnemann, Ludger, 2019. "Tax and spending shocks in the open economy: are the deficits twins?," Working Paper Series 377, Sveriges Riksbank (Central Bank of Sweden).
    61. Canzoneri, Matthew B & Cumby, Robert & Diba, Behzad & López-Salido, J David, 2008. "Monetary and Fiscal Policy Coordination when Bonds Provide Transactions Services," CEPR Discussion Papers 6814, C.E.P.R. Discussion Papers.
    62. Rong Li & Xiaohui Tian, 2018. "Spending Reversals and Fiscal Multipliers under an Interest Rate Peg," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(4), pages 789-815, June.
    63. Nora Traum & Shu-Chun Susan Yang, 2010. "Does Government Debt Crowd Out Investment? A Bayesian DSGE Approach: Working Paper 2010-02," Working Papers 21397, Congressional Budget Office.
    64. Yasuharu Iwata, 2011. "The Government Spending Multiplier and Fiscal Financing: Insights from Japan," International Finance, Wiley Blackwell, vol. 14(2), pages 231-264, June.
    65. Nao Sudo & Yuki Teranishi, 2008. "Optimal Monetary Policy under Imperfect Financial Integration," IMES Discussion Paper Series 08-E-25, Institute for Monetary and Economic Studies, Bank of Japan.
    66. Givens, Gregory, 2019. "Unemployment, Partial Insurance, and the Multiplier Effects of Government Spending," MPRA Paper 96811, University Library of Munich, Germany.
    67. Sebastian Gechert & Rafael Mentges, 2013. "What Drives Fiscal Multipliers? The Role of Private Wealth and Debt," IMK Working Paper 124-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    68. Alessio Moro & Omar Rachedi, 2022. "The Changing Structure Of Government Consumption Spending," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(3), pages 1293-1323, August.
    69. Giancarlo Corsetti & Michael P. Devereux & Luigi Guiso & John Hassler & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Xavier Vives, 2010. "Chapter 3: From Fiscal Rescue to Global Debt," EEAG Report on the European Economy, CESifo, vol. 0, pages 71-100, February.
    70. Søren Ravn & Morten Spange, 2014. "The Effects of Fiscal Policy in a Small Open Economy with a Fixed Exchange Rate," Open Economies Review, Springer, vol. 25(3), pages 451-476, July.
    71. Stefano Grassi & Marco Lorusso & Francesco Ravazzolo, 2021. "Adaptive Importance Sampling for DSGE Models," BEMPS - Bozen Economics & Management Paper Series BEMPS84, Faculty of Economics and Management at the Free University of Bozen.
    72. Susana Párraga Rodríguez, 2016. "The dynamic effect of public expenditure shocks in the United States," Working Papers 1628, Banco de España.
    73. Sebastian Gechert, 2015. "What fiscal policy is most effective? A meta-regression analysis," Oxford Economic Papers, Oxford University Press, vol. 67(3), pages 553-580.
    74. Sebastian Gechert & Ansgar Rannenberg, 2014. "Are Fiscal Multipliers Regime-Dependent? A Meta Regression Analysis," IMK Working Paper 139-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    75. Hauptmeier, Sebastian & Cimadomo, Jacopo & Kirchner, Markus, 2010. "Transmission of government spending shocks in the euro area: Time variation and driving forces," Working Paper Series 1219, European Central Bank.
    76. Rebei Nooman, 2021. "Evaluating Changes in the Transmission Mechanism of Government Spending Shocks," The B.E. Journal of Macroeconomics, De Gruyter, vol. 21(1), pages 253-280, January.
    77. Max Breitenlechner & Martin Geiger & Mathias Klein, 2024. "The Fiscal Channel of Monetary Policy," Working Papers 2024-07, Faculty of Economics and Statistics, Universität Innsbruck.
    78. Henrique S. Basso & Omar Rachedi, 2018. "The young, the old, and the government: demographics and fiscal multipliers," Working Papers 1837, Banco de España.
    79. Luca, Pieroni & Lorusso, Marco, 2015. "Are all the fiscal policy shocks identical? Analysing the effects on private consumption of civilian and military spending shocks," MPRA Paper 69084, University Library of Munich, Germany.
    80. Julio López Gallardo & Luis Antonio Reyes Ortiz, 2014. "Effective Demand in the Recent Evolution of the US Economy [Demande Effective dans l'évolution récente de l'économie des Etats-Unis]," Post-Print halshs-01907268, HAL.
    81. IIBOSHI, Hirokuni & IWATA, Yasuharu, 2023. "The Nexus between Public Debt and the Government Spending Multiplier: Fiscal Adjustments Matter," MPRA Paper 116347, University Library of Munich, Germany.
    82. Pieroni, Luca & Lorusso, Marco, 2013. "The Role of Fiscal Policy Components in Private Consumption: a Re-examination of the Effects of Military and Civilian Spending," MPRA Paper 47878, University Library of Munich, Germany.
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    86. Airaudo, Marco, 2013. "Monetary policy and stock price dynamics with limited asset market participation," Journal of Macroeconomics, Elsevier, vol. 36(C), pages 1-22.
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    88. Giovanni Callegari & Mr. Giovanni Melina & Nicoletta Batini, 2012. "Successful Austerity in the United States, Europe and Japan," IMF Working Papers 2012/190, International Monetary Fund.
    89. Müller, Gernot & Born, Benjamin & Juessen, Falko, 2012. "Exchange rate regimes and fiscal multipliers," CEPR Discussion Papers 8986, C.E.P.R. Discussion Papers.
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    99. Mayer, Eric & Stähler, Nikolai, 2009. "The debt brake: business cycle and welfare consequences of Germany's new fiscal policy rule," Discussion Paper Series 1: Economic Studies 2009,24, Deutsche Bundesbank.
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    1. Chadha, Jagjit S. & Corrado, Luisa & Holly, Sean, 2014. "A Note On Money And The Conduct Of Monetary Policy," Macroeconomic Dynamics, Cambridge University Press, vol. 18(8), pages 1854-1883, December.
    2. Céline Poilly, 2007. "Does Money Matter for the Identification of Monetary Policy Shocks: A DSGE Perspective," THEMA Working Papers 2007-23, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    3. Rannenberg, Ansgar, 2012. "Asymmetric information in credit markets, bank leverage cycles and macroeconomic dynamics," Working Paper Series 1487, European Central Bank.
    4. Wen Yao, 2012. "International Business Cycles and Financial Frictions," Staff Working Papers 12-19, Bank of Canada.
    5. Nolan, Charles & Thoenissen, Christoph, 2009. "Financial shocks and the US business cycle," Journal of Monetary Economics, Elsevier, vol. 56(4), pages 596-604, May.
    6. Henzel, Steffen & Hülsewig, Oliver & Mayer, Eric & Wollmershäuser, Timo, 2009. "The price puzzle revisited: Can the cost channel explain a rise in inflation after a monetary policy shock?," Journal of Macroeconomics, Elsevier, vol. 31(2), pages 268-289, June.
    7. Ali Dib & Ian Christensen, 2005. "Monetary Policy in an Estimated DSGE Model with a Financial Accelerator," Computing in Economics and Finance 2005 314, Society for Computational Economics.
    8. Eric Mayer & Oliver Grimm, 2008. "Countercyclical Taxation and Price Dispersion," CER-ETH Economics working paper series 08/88, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    9. František Brazdik & Michal Hlavacek & Aleš Marsal, 2012. "Survey of Research on Financial Sector Modeling within DSGE Models: What Central Banks Can Learn from It," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 62(3), pages 252-277, July.
    10. Chadha, J.S. & Corrado, L. & Holly, S., 2008. "Reconnecting Money to Inflation: The Role of the External Finance Premium," Cambridge Working Papers in Economics 0852, Faculty of Economics, University of Cambridge.
    11. De Graeve Ferre, 2007. "The External Finance Premium and the Macroeconomy: US post-WWII Evidence," Money Macro and Finance (MMF) Research Group Conference 2006 83, Money Macro and Finance Research Group.
    12. Cohen-Cole, Ethan & Morse, Jonathan, 2010. "Monetary policy and capital regulation in the US and Europe," Working Paper Series 1222, European Central Bank.
    13. Cwik, Tobias & Müller, Gernot J. & Wolters, Maik H., 2011. "Does trade integration alter monetary policy transmission?," Journal of Economic Dynamics and Control, Elsevier, vol. 35(4), pages 545-564, April.
    14. Ethan Cohen-Cole & Enrique Martinez-Garcia, 2009. "The Balance Sheet Channel," Working Papers Central Bank of Chile 537, Central Bank of Chile.
    15. Naohisa Hirakata & Nao Sudo & Kozo Ueda, 2010. "Do Banking Shocks Matter for the U.S. Economy?," IMES Discussion Paper Series 10-E-13, Institute for Monetary and Economic Studies, Bank of Japan.
    16. Chuluunbayar, Delgerjargal, 2019. "Output Composition of Monetary Policy Transmission in Mongolia," MPRA Paper 98111, University Library of Munich, Germany.
    17. Hitoshi Fuchi & Ichiro Muto & Hiroshi Ugai, 2005. "A Historical Evaluation of Financial Accelerator Effects in Japan's Economy," Bank of Japan Working Paper Series 05-E-8, Bank of Japan.
    18. Ms. Natalia T. Tamirisa & Alain N. Kabundi & Ms. Deniz O Igan & Mr. Francisco d Nadal De Simone & Marcelo Pinheiro, 2009. "Three Cycles: Housing, Credit, and Real Activity," IMF Working Papers 2009/231, International Monetary Fund.
    19. Queijo von Heideken, Virginia, 2008. "How Important are Financial Frictions in the U.S. and the Euro Area?," Working Paper Series 223, Sveriges Riksbank (Central Bank of Sweden).
    20. Shin-Ichi Nishiyama, 2011. "How Important are Financial Shocks for the Canadian Business Cycle?," TERG Discussion Papers 276, Graduate School of Economics and Management, Tohoku University.
    21. Mayer, Eric & Hülsewig, Oliver & Henzel, Steffen & Wollmershäuser, Timo, 2006. "The Price Puzzle Revisited: Can the Cost Channel explain a Rise in Inflation after a Monetary Shock?," W.E.P. - Würzburg Economic Papers 74, University of Würzburg, Department of Economics.
    22. Virginia Queijo, 2005. "Bayesian Estimation of a DSGE Model with Financial Frictions for the U.S. and the Euro Area," Computing in Economics and Finance 2005 306, Society for Computational Economics.
    23. Merola, Rossana, 2010. "Optimal monetary policy in a small open economy with financial frictions," Discussion Paper Series 1: Economic Studies 2010,01, Deutsche Bundesbank.
    24. Mr. Alejandro Justiniano Espigares & Mr. Selim A Elekdag & Mr. Ivan Tchakarov, 2005. "An Estimated Small Open Economy Model of the Financial Accelerator," IMF Working Papers 2005/044, International Monetary Fund.
    25. Gelain, Paolo, 2010. "The external finance premium in the euro area A useful indicator for monetary policy?," Working Paper Series 1171, European Central Bank.

  57. Fratzscher, Marcel & Müller, Gernot J. & Bussière, Matthieu, 2005. "Productivity shocks, budget deficits and the current account," Working Paper Series 509, European Central Bank.

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    1. Martin Boileau & Michel Normandin, 2008. "Do Tax Cuts Generate Twin Deficits? A Multi-Country Analysis," Cahiers de recherche 0832, CIRPEE.
    2. Konstantinos Chisiridis & Kostas Mouratidis & Theodore Panagiotidis, 2018. "The North-South Divide, the Euro and the World," Working Papers 2018015, The University of Sheffield, Department of Economics.
    3. International Monetary Fund, 2010. "Fiscal Policy and the Current Account," IMF Working Papers 2010/121, International Monetary Fund.
    4. Mohamed Arouri & Arif Billah Dar & Niyati Bhanja & Aviral Kumar Tiwari & FrédéricTeulon, 2014. "Interlinkage between Real Exchange rate and Current Account Behaviors: Evidence from India," Working Papers 2014-88, Department of Research, Ipag Business School.
    5. Duncan, Roberto, 2016. "Does the US current account show a symmetric behavior over the business cycle?," International Review of Economics & Finance, Elsevier, vol. 41(C), pages 202-219.
    6. Algieri, Bernardina, 2013. "An empirical analysis of the nexus between external balance and government budget balance: The case of the GIIPS countries," Economic Systems, Elsevier, vol. 37(2), pages 233-253.
    7. Koutchogna Kokou Edem ASSOGBAVI, 2021. "Global Account Imbalances since the Global Financial Crisis: Determinants, Implications and Challenges for the Global Economy," Bordeaux Economics Working Papers 2021-06, Bordeaux School of Economics (BSE).
    8. Brissimis, Sophocles N. & Hondroyiannis, George & Papazoglou, Christos & Tsaveas, Nicholas T. & Vasardani, Melina A., 2010. "Current account determinants and external sustainability in periods of structural change," Working Paper Series 1243, European Central Bank.
    9. Ilir MITEZA, 2012. "Fiscal Deficits, Current Deficits and Investment: A Panel Causality Framework of 20 OECD countries," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 12(1).
    10. Jan in't Veld & Robert Kollmann & Marco Ratto & Werner Roeger & Lukas Vogel, 2014. "What drives the German current account? and how does it affect other EU member states?," Globalization Institute Working Papers 176, Federal Reserve Bank of Dallas.
    11. Comunale, Mariarosaria, 2017. "A panel VAR analysis of macro-financial imbalances in the EU," Working Paper Series 2026, European Central Bank.
    12. Giancarlo Corsetti & Gernot J. Müller, 2005. "Twin Deficits: Squaring Theory, Evidence and Common Sense," Economics Working Papers ECO2005/22, European University Institute.
    13. Olivier Cardi & Romain Restout, 2007. "Permanent vs Temporary Fiscal Expansion in a Two-Sector Small Open Economy Model," Post-Print halshs-00174574, HAL.
    14. Danish Ahmed SIDDIQUI & Qazi Masood AHMED, 2019. "Are institutions a crucial determinant of cross country economic efficiency? A two-stage double bootstrap data envelopment analysis," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(618), S), pages 89-114, Spring.
    15. José García-Solanes & Jesús Rodríguez-López & José Torres, 2011. "Demand Shocks and Trade Balance Dynamics," Open Economies Review, Springer, vol. 22(4), pages 739-766, September.
    16. John Bluedorn & Daniel Leigh, 2011. "Revisiting the Twin Deficits Hypothesis: The Effect of Fiscal Consolidation on the Current Account," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 59(4), pages 582-602, November.
    17. Bems, Rudolfs & Dedola, Luca & Smets, Frank, 2007. "US imbalances: the role of technology and policy," Working Paper Series 719, European Central Bank.
    18. Mr. Michael Kumhof & Mr. Douglas Laxton, 2009. "Fiscal Deficits and Current Account Deficits," IMF Working Papers 2009/237, International Monetary Fund.
    19. Schuler, Tobias & Sun, Yiqiao, 2022. "The current account and monetary policy in the euro area," Working Paper Series 2696, European Central Bank.
    20. Hayo, Bernd & Mierzwa, Sascha, 2023. "The effect of legislated tax changes on the trade balance: Empirical evidence for the United States, Germany, and the United Kingdom," Journal of Macroeconomics, Elsevier, vol. 78(C).
    21. Horag Choi & Nelson C. Mark, 2009. "Trending Current Accounts," NBER Working Papers 15244, National Bureau of Economic Research, Inc.
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    27. Zhai, Weiyang & Yoshida, Yushi, 2020. "Revisiting the Glick-Rogoff Current Account Model: An Application to the Current Accounts of BRICS Countries," MPRA Paper 99446, University Library of Munich, Germany.
    28. Florian Morvillier, 2018. "On the impact of the launch of the euro on EMU macroeconomic vulnerability," EconomiX Working Papers 2018-51, University of Paris Nanterre, EconomiX.
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    41. Fratzscher, Marcel & Müller, Gernot J. & Bussière, Matthieu, 2005. "Productivity shocks, budget deficits and the current account," Working Paper Series 509, European Central Bank.
    42. Francisco Serranito & Jean-Baptiste Gossé, 2014. "Long-run determinants of current accounts in OECD countries: Lessons for intra-European imbalances," Post-Print hal-01384673, HAL.
    43. Hjortsoe, Ida, 2016. "Imbalances and fiscal policy in a monetary union," Journal of International Economics, Elsevier, vol. 102(C), pages 225-241.
    44. Sarno, Lucio & Fratzscher, Marcel & Juvenal, Luciana, 2009. "Asset Prices, Exchange Rates and the Current Account," CEPR Discussion Papers 7614, C.E.P.R. Discussion Papers.
    45. Florian Morvillier, 2018. "On the impact of the launch of the euro on EMU macroeconomic vulnerability," Working Papers hal-04141675, HAL.
    46. Joseph W. Gruber & Steven B. Kamin, 2005. "Explaining the global pattern of current account imbalances," International Finance Discussion Papers 846, Board of Governors of the Federal Reserve System (U.S.).
    47. El-Baz, Osama, 2014. "Empirical Investigation of the Twin Deficits Hypothesis: The Egyptian Case (1990-2012)," MPRA Paper 53428, University Library of Munich, Germany.
    48. Menzie D. Chinn & Hiro Ito, 2024. "Current Account Dynamics and the Saving-Investment Nexus In a Changing and Uncertain World," NBER Working Papers 33106, National Bureau of Economic Research, Inc.
    49. Antonis Adam & Panos Hatzipanayotou & Thomas Moutos, 2015. "Labour Market Regulation, Fiscal Consolidation, and the Success of Current Account Adjustments," DEOS Working Papers 1517, Athens University of Economics and Business.
    50. Seyfettin Erdoğan & Hilal Bozkurt, 2009. "The Determinants of Current Account Deficit in Turkey: An Analysis with MGARCH Models," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 24(84), pages 135-172, July.
    51. Muhammad Ali Nasir & Mary Leung, 2021. "US trade deficit, a reality check: New evidence incorporating asymmetric and non‐linear effects of exchange rate dynamics," The World Economy, Wiley Blackwell, vol. 44(3), pages 818-836, March.
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    53. Mr. Christiane Nickel & Ms. Katja Funke, 2006. "Does Fiscal Policy Matter for the Trade Account? A Panel Cointegration Study," IMF Working Papers 2006/147, International Monetary Fund.
    54. Akinsola, Folusu A. & Odhiambo, Nicholas M., 2018. "Revisiting financial liberalisation and economic growth: A review of international literature," Working Papers 24794, University of South Africa, Department of Economics.
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    56. César R Sobrino, 2013. "The twin deficits hypothesis and reverse causality: A short-run analysis of Peru," Journal of Economics, Finance and Administrative Science, Universidad ESAN, vol. 18(34), pages 9-15.
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    58. Mr. Luis M. Cubeddu & Signe Krogstrup & Gustavo Adler & Mr. Pau Rabanal & Mai Dao & Mrs. Swarnali A Hannan & Luciana Juvenal & Ms. Carolina Osorio-Buitron & Cyril Rebillard & Mr. Daniel Garcia-Macia &, 2019. "The External Balance Assessment Methodology: 2018 Update," IMF Working Papers 2019/065, International Monetary Fund.
    59. Hamzeh Arabzadeh, 2016. "The political economy of twin deficits and wage setting centralization," LIDAM Discussion Papers IRES 2016017, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    60. Choi, Horag & Mark, Nelson C. & Sul, Donggyu, 2008. "Endogenous discounting, the world saving glut and the U.S. current account," Journal of International Economics, Elsevier, vol. 75(1), pages 30-53, May.
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    62. Ansgar Belke & Steffen Elstner & Svetlana Rujin, 2022. "Growth Prospects and the Trade Balance in Advanced Economies," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(5), pages 1209-1234, October.
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    1. Yoichi Matsubayashi, 2010. "Budget Deficits and Current Account in Japan and the U.S.: An Empirical Evidence on the Twin Deficits Hypothesis," Discussion Papers 1010, Graduate School of Economics, Kobe University.
    2. Hafedh Bouakez & Aurélien Eyquem, 2011. "Government Spending, Monetary Policy, and the Real Exchange Rate," Working Papers 1139, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    3. Romanos Priftis & Srec̆ko Zimic, 2021. "Sources of Borrowing and Fiscal Multipliers [Emerging market business cycles: the cycle is the trend]," The Economic Journal, Royal Economic Society, vol. 131(633), pages 498-519.
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    5. Mario Forni & Luca Gambetti, 2014. "Government Spending Shocks in Open Economy VARs," Center for Economic Research (RECent) 105, University of Modena and Reggio E., Dept. of Economics "Marco Biagi".
    6. Konstantinos Chisiridis & Kostas Mouratidis & Theodore Panagiotidis, 2018. "The North-South Divide, the Euro and the World," Working Papers 2018015, The University of Sheffield, Department of Economics.
    7. Ivan Todorov & Kalina Durova, 2020. "The Fiscal Policy of Bulgaria from the Standpoints of the Business Cycle and the Twin Deficits Hypothesis," Journal of Tax Reform, Graduate School of Economics and Management, Ural Federal University, vol. 6(3), pages 256-269.
    8. Stuart Landon & Constance Smith, 2017. "Does the Design of a Fiscal Rule Matter for Welfare?," Working Papers 2017-2, University of Alberta, Department of Economics.
    9. Burlon, L. & Gerali, A. & Notarpietro, A. & Pisani, M., 2018. "Non-standard monetary policy, asset prices and macroprudential policy in a monetary union," Journal of International Money and Finance, Elsevier, vol. 88(C), pages 25-53.
    10. Manamba Epaphra, 0. "The Twin Deficits Hypothesis: An Empirical Analysis for Tanzania," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 20(65), pages 2-34, September.
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    12. Antoine Goujard, 2017. "Cross‐Country Spillovers from Fiscal Consolidations," Fiscal Studies, Institute for Fiscal Studies, vol. 38, pages 219-267, June.
    13. Enders, Zeno & Müller, Gernot J. & Scholl, Almuth, 2008. "How do fiscal and technology shocks affect real exchange rates? New evidence for the United States," CFS Working Paper Series 2008/22, Center for Financial Studies (CFS).
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    18. Gerali, Andrea & Locarno, Alberto & Notarpietro, Alessandro & Pisani, Massimiliano, 2018. "The sovereign crisis and Italy’s potential output," Journal of Policy Modeling, Elsevier, vol. 40(2), pages 418-433.
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    20. Rosaria Rita canale & Ugo Marani, 2012. "Current account and fiscal imbalances in the Euro-area: Siamese twins in an asymmetrical currency union," Department of Economics University of Siena 659, Department of Economics, University of Siena.
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    29. Kim, Soyoung & Roubini, Nouriel, 2009. "Erratum to "Twin deficit or twin divergence? Fiscal policy, current account, and real exchange rate in the U.S." [Journal of International Economics. Volume (74) 362-383]," Journal of International Economics, Elsevier, vol. 77(2), pages 276-276, April.
    30. Gernot Mueller & Giancarlo Corsetti, 2007. "International Dimensions of Fiscal Policy Transmission," 2007 Meeting Papers 726, Society for Economic Dynamics.
    31. Xie, Zixiong & Chen, Shyh-Wei, 2014. "Untangling the causal relationship between government budget and current account deficits in OECD countries: Evidence from bootstrap panel Granger causality," International Review of Economics & Finance, Elsevier, vol. 31(C), pages 95-104.
    32. Lorenzo Burlon & Alessandro Notarpietro & Massimiliano Pisani, 2019. "Fiscal devaluation and labour market frictions in a monetary union," Temi di discussione (Economic working papers) 1241, Bank of Italy, Economic Research and International Relations Area.
    33. Georgios Karras, 2020. "Are "Twin Deficits" an Illusion? International Evidence on Fiscal Policy and the Current Account," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 18(2), pages 139-157.
    34. Kevin Grier & Haichun Ye, 2009. "Twin Sons Of Different Mothers: The Long And The Short Of The Twin Deficits Debate," Economic Inquiry, Western Economic Association International, vol. 47(4), pages 625-638, October.
    35. Corsetti, Giancarlo & Müller, Gernot & Meier, André, 2009. "Cross-border spillovers from fiscal stimulus," CEPR Discussion Papers 7535, C.E.P.R. Discussion Papers.
    36. Giancarlo Corsetti & André Meier & Gernot J. Müller, 2012. "What determines government spending multipliers? [Mafia and public spending: Evidence of the fiscal multiplier from a quasi-experiment’, mimeo]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 27(72), pages 521-565.
    37. Ilori, Ayobami E. & Paez-Farrell, Juan & Thoenissen, Christoph, 2022. "Fiscal policy shocks and international spillovers," European Economic Review, Elsevier, vol. 141(C).
    38. Miyamoto, Wataru & Nguyen, Thuy Lan & Sheremirov, Viacheslav, 2019. "The effects of government spending on real exchange rates: Evidence from military spending panel data," Journal of International Economics, Elsevier, vol. 116(C), pages 144-157.
    39. Rybacki, Jakub, 2019. "Fiscal Deficit Forecasts by International Institutions: Evidence for a Double Standard?," MPRA Paper 94031, University Library of Munich, Germany.
    40. Soyoung Kim & Nouriel Roubini, 2004. "Twin Deficit or Twin Divergence? Fiscal Policy, Current Account, and Real Exchange Rate in the US," Econometric Society 2004 North American Winter Meetings 271, Econometric Society.
    41. António Afonso & Christophe Rault, 2009. "Bootstrap Panel Granger-Causality Between Government Budget and External Deficits for the EU," Working Papers Department of Economics 2009/02, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    42. António AFONSO & Christophe RAULT, 2010. "Budgetary and External Imbalances Relationship: a Panel Data Diagnostic," LEO Working Papers / DR LEO 283, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    43. Fabrice Dabiré & Hashmat Khan & Patrick Richard & Jean-François Rouillard, 2021. "Characterizing G-multipliers in Canada," Carleton Economic Papers 21-14, Carleton University, Department of Economics, revised 14 Mar 2023.
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    45. Tryphon Kollintzas & Dimitris Papageorgiou & Efthymios Tsionas & Vanghelis Vassilatos, 2018. "Market and political power interactions in Greece: an empirical investigation," IZA Journal of Labor Policy, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 7(1), pages 1-43, December.
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    48. Matteo Cacciatore & Nora Traum, 2022. "Trade Flows and Fiscal Multipliers," The Review of Economics and Statistics, MIT Press, vol. 104(6), pages 1206-1223, November.
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    50. Tsoungui Belinga,Vincent De Paul, 2016. "Effects of fiscal policy shocks in an open economy : evidence from Canada," Policy Research Working Paper Series 7654, The World Bank.
    51. Andrea Gerali & Alberto Locarno & Alessandro Notarpietro & Massimiliano Pisani, 2015. "Every cloud has a silver lining. The sovereign crisis and Italian potential output," Temi di discussione (Economic working papers) 1010, Bank of Italy, Economic Research and International Relations Area.
    52. António Afonso & Ricardo M. Sousa, 2008. "The Macroeconomic Effects of Fiscal Policy," Working Papers Department of Economics 2008/56, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    53. Kady Keita & Isabelle Rabaud & Camelia Turcu, 2023. "Fiscal outcomes, current account imbalances, and institutions in Europe: Exploring nonlinearities," Post-Print hal-04171812, HAL.
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    128. Ahmad Ahmad & Olalekan Aworinde, 2015. "Structural breaks and twin deficits hypothesis in African countries," Economic Change and Restructuring, Springer, vol. 48(1), pages 1-35, February.
    129. Stefano Grassi & Marco Lorusso & Francesco Ravazzolo, 2025. "Adaptive Importance Sampling Estimation of an Open Economy Model with Fiscal Policy," BEMPS - Bozen Economics & Management Paper Series BEMPS111, Faculty of Economics and Management at the Free University of Bozen.
    130. Lorenzo Burlon & Andrea Gerali & Alessandro Notarpietro & Massimiliano Pisani, 2015. "Inflation, financial conditions and non-standard monetary policy in a monetary union. A model-based evaluation," Temi di discussione (Economic working papers) 1015, Bank of Italy, Economic Research and International Relations Area.
    131. Çatık, Abdurrahman Nazif & Gök, Barış & Akseki, Utku, 2015. "A nonlinear investigation of the twin deficits hypothesis over the business cycle: Evidence from Turkey," Economic Systems, Elsevier, vol. 39(1), pages 181-196.
    132. Nicholas Sly & Caroline Weber, 2015. "Global tax policy and the synchronization of business cycles," Research Working Paper RWP 15-7, Federal Reserve Bank of Kansas City.
    133. Ghassan, Hassan B. & Drissi, Ramzi, 2015. "Long Run Current Account through theoretical Intertemporal Model," MPRA Paper 71997, University Library of Munich, Germany, revised 04 Apr 2015.
    134. Gozgor, Giray, 2018. "Does the structure of employment affect the external imbalances? Theory and evidence," Structural Change and Economic Dynamics, Elsevier, vol. 45(C), pages 77-83.
    135. Hubert Gabrisch, 2015. "On the twin deficits hypothesis and the import intensity in transition countries," International Economics and Economic Policy, Springer, vol. 12(2), pages 205-220, June.
    136. Hürtgen, Patrick & Rühmkorf, Ronald, 2014. "Sovereign default risk and state-dependent twin deficits," Journal of International Money and Finance, Elsevier, vol. 48(PB), pages 357-382.
    137. Kim, Soyoung, 2015. "Country characteristics and the effects of government consumption shocks on the current account and real exchange rate," Journal of International Economics, Elsevier, vol. 97(2), pages 436-447.
    138. Bofinger, Peter & Schnabel, Isabel & Feld, Lars P. & Schmidt, Christoph M. & Wieland, Volker, 2014. "Mehr Vertrauen in Marktprozesse. Jahresgutachten 2014/15 [More confidence in market processes. Annual Report 2014/15]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201415.
    139. Hickey, Rónán & Lozej, Matija & Smyth, Diarmaid, 2020. "Financing government investment and its implications for public capital: A small open economy perspective," Economic Modelling, Elsevier, vol. 93(C), pages 620-641.
    140. Ravn, Morten O. & Schmitt-Grohé, Stephanie & Uribe, Martín, 2012. "Consumption, government spending, and the real exchange rate," Journal of Monetary Economics, Elsevier, vol. 59(3), pages 215-234.
    141. Ogunlesi, Ayodeji, 2018. "Agricultural Productivity, Fiscal and Trade Policies Nexus in Sub-Saharan Africa: A Panel Structural Vector Error Correction Model Analysis," MPRA Paper 90202, University Library of Munich, Germany.

  59. Fratzscher, Marcel & Müller, Gernot J. & Bussière, Matthieu, 2004. "Current accounts dynamics in OECD and EU acceding countries - an intertemporal approach," Working Paper Series 311, European Central Bank.

    Cited by:

    1. Blaise Gnimassoun & Valérie Mignon, 2015. "Persistence of Current-account Disequilibria and Real Exchange-rate Misalignments," Review of International Economics, Wiley Blackwell, vol. 23(1), pages 137-159, February.
    2. Al-Hussami, Fares & Remesal, Álvaro Martín, 2012. "Current account imbalances and income inequality: Theory and evidence," Kiel Advanced Studies Working Papers 459, Kiel Institute for the World Economy (IfW Kiel).
    3. Yoichi Matsubayashi, 2010. "Budget Deficits and Current Account in Japan and the U.S.: An Empirical Evidence on the Twin Deficits Hypothesis," Discussion Papers 1010, Graduate School of Economics, Kobe University.
    4. Takashi Kano, 2007. "Habit Formation and the Present-Value Model of the Current Account: Yet Another Suspect," CIRJE F-Series CIRJE-F-505, CIRJE, Faculty of Economics, University of Tokyo.
    5. Soós, Károly Attila, 2005. "Választási gazdaságpolitika és a folyó fizetési mérleg alakulása Közép-Kelet-Európában [Election-time economic policy and current-account developments in Central-East Europe]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 960-990.
    6. Mirdala, Rajmund, 2010. "Monetary aspects of short-term capital inflows in the Central European Countries," MPRA Paper 27649, University Library of Munich, Germany.
    7. Campa, Jose Manuel & Gavilan, Angel, 2011. "Current accounts in the euro area: An intertemporal approach," Journal of International Money and Finance, Elsevier, vol. 30(1), pages 205-228, February.
    8. Nurgun Topalli & İbrahim Dogan, 2016. "The structure and sustainability of current account deficit: Turkish evidence from regime switching," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 25(4), pages 570-589, June.
    9. Rubaszek, Michał, 2008. "Economic convergence and the fundamental equilibrium exchange rate in Poland," MPRA Paper 12910, University Library of Munich, Germany.
    10. Josep Lluís CARRION-I-SILVESTRE & Mariam CAMARERO & Josep LLUÍS CARRION-I-SILVESTRE & Cecilio TAMARIT, 2010. "External Imbalances in a Monetary Union. Does the Lawson Doctrine Apply to Europe?," EcoMod2010 259600036, EcoMod.
    11. Takashi Kano, 2007. "Habit Formation and the Present-Value Model of the Current Account: Yet Another Suspect (Revised as CARF-F-124 (2008) )," CARF F-Series CARF-F-101, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    12. George A. Zombanakis & Constantinos Stylianou & Andreas S. Andreou, 2009. "The Greek Current Account Deficit:Is it Sustainable after all?," Working Papers 98, Bank of Greece.
    13. Rubaszek, Michal, 2005. "Fundamental equilibrium exchange rate for the Polish zloty," MPRA Paper 126, University Library of Munich, Germany.
    14. Brissimis, Sophocles N. & Hondroyiannis, George & Papazoglou, Christos & Tsaveas, Nicholas T. & Vasardani, Melina A., 2010. "Current account determinants and external sustainability in periods of structural change," Working Paper Series 1243, European Central Bank.
    15. Panagiotis Chronis & George A. Zombanakis, 2016. "An Evaluation of Policies for Fiscal and External Sustainability during the Recent Greek Economic Crisis," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 32-43.
    16. Ayad Hicham, 2017. "Financial Development and Poverty Reduction Nexus: A Co-Integration and Causality Analysis in Selected Arabic Countries," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 3(2), pages 28-35, June.
    17. Vansteenkiste, Isabel & Nickel, Christiane, 2008. "Fiscal policies, the current account and Ricardian equivalence," Working Paper Series 935, European Central Bank.
    18. Bal??zs ??gert, & L??szl?? Halpern & Ronald MacDonald, 2005. "Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues," William Davidson Institute Working Papers Series wp793, William Davidson Institute at the University of Michigan.
    19. Blaise Gnimassoun & Valérie Mignon, 2013. "Current-account adjustments and exchange-rate misalignments," Working Papers hal-04141182, HAL.
    20. Stephan Barisitz, 2005. "Banking in Central and Eastern Europe since the Turn of the Millennium — An Overview of Structural Modernization in Ten Countries," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 2, pages 58-82.
    21. Herrmann, Sabine & Winkler, Adalbert, 2008. "Financial markets and the current account: emerging Europe versus emerging Asia," Discussion Paper Series 1: Economic Studies 2008,05, Deutsche Bundesbank.
    22. Aleksander Aristovnik, 2006. "Current Account Sustainability In Selected Transition Countries," William Davidson Institute Working Papers Series wp844, William Davidson Institute at the University of Michigan.
    23. Garg, Bhavesh & Prabheesh, K.P., 2017. "Drivers of India’s current account deficits, with implications for ameliorating them," Journal of Asian Economics, Elsevier, vol. 51(C), pages 23-32.
    24. Philip R. Lane & Gian Maria Milesi-Ferretti, 2006. "Capital Flows to Central and Eastern Europe," The Institute for International Integration Studies Discussion Paper Series iiisdp161, IIIS.
    25. Moral-Benito, Enrique & Roehn, Oliver, 2016. "The impact of financial regulation on current account balances," European Economic Review, Elsevier, vol. 81(C), pages 148-166.
    26. Chuku Chuku & Atan Johnson & Obioesio Felix & Onye Kenneth, 2017. "Working Paper 287 - Current Account Adjustments and Integration in West Africa," Working Paper Series 2407, African Development Bank.
    27. Natalya Ketenci & Idil Uz Akdogan & Hatice Kerra Geldi, 2014. "Determinants Of The Current Account In The Eu And Piigs," Journal Articles, Center For Economic Analyses, pages 5-14, December.
    28. Egert, Balazs & Lommatzsch, Kirsten & Lahreche-Revil, Amina, 2006. "Real exchange rates in small open OECD and transition economies: Comparing apples with oranges?," Journal of Banking & Finance, Elsevier, vol. 30(12), pages 3393-3406, December.
    29. Michele Ca' Zorzi & Michał Rubaszek, 2012. "On the Empirical Evidence of the Intertemporal Current Account Model for the Euro Area Countries," Review of Development Economics, Wiley Blackwell, vol. 16(1), pages 95-106, February.
    30. Radulescu, Magdalena, 2006. "The Impact of the National Bank of Romania's Monetary Policy on the Banking Credits, the Domestic Savings and Investments (As Compared to the Other Central and Eastern European Countries)," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 3(2), pages 10-31, June.
    31. Dumitru, Ionut, 2008. "An assessment of the current account sustainability in Romania," MPRA Paper 18613, University Library of Munich, Germany.
    32. Arratibel, Olga & Martin, Reiner & Furceri, Davide, 2008. "Real convergence in Central and Eastern European EU Member States: which role for exchange rate volatility?," Working Paper Series 929, European Central Bank.
    33. Aristovnik, Aleksander, 2006. "How sustainable are current account deficits in selected transition economies?," MPRA Paper 485, University Library of Munich, Germany.
    34. Rimgailaite, Ramune, 2012. "Exchange rate modelling for Lithuania and Switzerland," MPRA Paper 43451, University Library of Munich, Germany.
    35. Abdelaziz Rouabah, 2005. "Les déterminants du solde de la balance des transactions courantes au Luxembourg," BCL working papers 13, Central Bank of Luxembourg.
    36. Kwalingana, Samson & Nkuna, Onelie, 2009. "The Determinants of Current Account Imbalances in Malawi," MPRA Paper 14694, University Library of Munich, Germany.
    37. Kateřina Šmídková & Aleš Bulíř, 2005. "Would Fast Sailing Towards the Euro Be Smooth? What Fundamental Real Exchange Rates Tell Us," Prague Economic Papers, Prague University of Economics and Business, vol. 2005(4), pages 291-316.
    38. Mr. Daniel S Kanda, 2006. "Credit Flows, Fiscal Policy, and the External Deficit of Bosnia and Herzegovina," IMF Working Papers 2006/276, International Monetary Fund.
    39. Mirdala, Rajmund, 2013. "Fiscal Imbalances and Current Account Adjustments in the European Transition Economies," MPRA Paper 50362, University Library of Munich, Germany.
    40. Yoichi Matsubayashi, 2009. "Structural and Cyclical Movements of the Current Account in the U.S. 1976-2007," Discussion Papers 0829, Graduate School of Economics, Kobe University.
    41. Sophocles Brissimis & George Hondroyiannis & Christos Papazoglou & Nicholas Tsaveas & Melina Vasardani, 2013. "The determinants of current account imbalances in the euro area: a panel estimation approach," Economic Change and Restructuring, Springer, vol. 46(3), pages 299-319, August.
    42. Aristovnik, Aleksander & Djurić, Sandra, 2010. "Twin deficits and the Feldstein-Horioka puzzle: a comparison of the EU member states and candidate countries," MPRA Paper 24149, University Library of Munich, Germany.
    43. Rajmund Mirdala, 2016. "Real Exchange Rates, Current Accounts and Competitiveness Issues in the Euro Area," FIW Working Paper series 173, FIW.
    44. Joseph W. Gruber & Steven B. Kamin, 2005. "Explaining the global pattern of current account imbalances," International Finance Discussion Papers 846, Board of Governors of the Federal Reserve System (U.S.).
    45. Lommatzsch, Kirsten & Tober, Silke, 2004. "What is behind the real appreciation of the accession countries' currencies?: An investigation of the PPI-based real exchange rate," Economic Systems, Elsevier, vol. 28(4), pages 383-403, December.
    46. Radulescu, Magdalena, 2007. "The impact of the National Bank of Romania Monetary Policy on the Balance of Payments," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 4(2), pages 26-43, June.
    47. Michele Ca’ Zorzi & Alexander Chudik & Alistair Dieppe, 2012. "And then current accounts (over)adjusted," Empirical Economics, Springer, vol. 43(1), pages 245-270, August.
    48. Mr. Christiane Nickel & Ms. Katja Funke, 2006. "Does Fiscal Policy Matter for the Trade Account? A Panel Cointegration Study," IMF Working Papers 2006/147, International Monetary Fund.
    49. Nickel, Christiane & Funke, Katja, 2006. "Does fiscal policy matter for the trade account? A panel cointegration study," Working Paper Series 620, European Central Bank.
    50. Mirdala, Rajmund, 2007. "Decomposition of external capital inflows and outflows in the small open transition economy (The case analysis of the Slovak republic)," MPRA Paper 7248, University Library of Munich, Germany.
    51. Simeon Coleman & Juan Carlos Cuestas, 2023. "Has the current account broken up with its fundamentals in Central and Eastern Europe?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 962-980, January.
    52. Breuss, Fritz & Fink, Gerhard & Haiss, Peter, 2004. "How well prepared are the New Member States for the European Monetary Union?," Journal of Policy Modeling, Elsevier, vol. 26(7), pages 769-791, October.
    53. Kenza Benhima & Olena Havrylchyk, 2006. "Current Account Reversals and Long Term Imbalances: Application to the Central and Eastern European Countries," Working Papers 2006-27, CEPII research center.
    54. Winkler, Adalbert & Herrmann, Sabine, 2008. "Real convergence, financial markets and the current account - emerging Europe versus emerging Asia," Occasional Paper Series 88, European Central Bank.
    55. Rubaszek, Michal & Rawdanowicz, Lukasz, 2009. "Economic convergence and the fundamental equilibrium exchange rate in central and eastern Europe," International Review of Financial Analysis, Elsevier, vol. 18(5), pages 277-284, December.
    56. Aleksander Aristovnik, 2006. "Current Account Reversals and Persistency in Transition Regions," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 9(1), pages 1-43, May.
    57. Martin Schmitz, 2009. "Financial Reforms and Capital Flows to Emerging Europe," The Institute for International Integration Studies Discussion Paper Series iiisdp278, IIIS.
    58. Camarero, Mariam & Carrion-i-Silvestre, Josep Lluís & Tamarit, Cecilio, 2015. "Testing for external sustainability under a monetary integration process. Does the Lawson doctrine apply to Europe?," Economic Modelling, Elsevier, vol. 44(C), pages 343-349.
    59. Joseph W. Gruber & Steven B. Kamin, 2008. "Do differences in financial development explain the global pattern of current account imbalances?," International Finance Discussion Papers 923, Board of Governors of the Federal Reserve System (U.S.).
    60. Das, Debasish Kumar, 2012. "Determinants of current account imbalances in the global economy: A dynamic panel analysis," MPRA Paper 42419, University Library of Munich, Germany.
    61. Aleksander Aristovnik, 2006. "The Determinants & Excessiveness of Current Account Deficits in Eastern Europe & the Former Soviet Union," William Davidson Institute Working Papers Series wp827, William Davidson Institute at the University of Michigan.
    62. Dumitru, Ionut & Dumitru, Ionela, 2009. "An Assessment of the Current Account Sustainability in Romania – An Inter-temporal Perspective," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 6(2), pages 23-41, June.
    63. Katerina Smidkova & Ales Bulir, 2004. "Would Fast Sailing Towards the Euro Be Smooth?: What Fundamental Real Exchange Rates Tell Us About Acceding Economies," Macroeconomics 0408002, University Library of Munich, Germany.
    64. Dumitru, Ionut, 2008. "O evaluare a sustenabilitatii deficitului de cont curent in Romania [An assessment of the current account sustainability in Romania]," MPRA Paper 18614, University Library of Munich, Germany.
    65. Aleksander Aristovnik & Stanka Setnikar-Cankar, 2006. "How Excessive are External Imbalances in Selected Transition Countries?," Prague Economic Papers, Prague University of Economics and Business, vol. 2006(3), pages 243-267.
    66. Aleksander Aristovnik, 2005. "Twin Deficits Hypothesis And Horioka-Feldstein Puzzle In Transition Economies," International Finance 0510020, University Library of Munich, Germany.
    67. Zoran Grubišiæ & Sandra Kamenkoviæ & Aleksandar Zdravkoviæ, 2018. "Impact of government balance and exchange rate regime on current account during the economic cycle: evidence from CEE countries," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 36(1), pages 309-336.
    68. Takashi Kano, 2008. "Habit Formation and the Present-Value Model of the Current Account: Yet Another Suspect ( Revised version of CARF-F-101(2007); Revised version subsequently published in "Journal of International ," CARF F-Series CARF-F-124, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    69. Mr. Jens R Clausen & Ms. Magda E. Kandil, 2005. "On Cyclicality in the Current and Financial Accounts: Evidence from Nine Industrial Countries," IMF Working Papers 2005/056, International Monetary Fund.
    70. Aristovnik, Aleksander, 2007. "Short- and medium-term determinants of current account balances in Middle East and North Africa countries," MPRA Paper 1974, University Library of Munich, Germany.
    71. World Bank, 2008. "Turkey - Country Economic Memorandum : Volume 2. Sustaining High Growth, Selected Issues," World Bank Publications - Reports 8017, The World Bank Group.
    72. Helmut Herwartz & Florian Siedenburg, 2007. "Determinants of Current Account Imbalances in 16 OECD Countries: An Out-Of-Sample Perspective," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 143(2), pages 349-374, July.
    73. Patrik RYFF, 2010. "Friedman Meets the Joneses: A Model of Essential Money with Consumption Externalities," EcoMod2010 259600146, EcoMod.
    74. Ali, Amjad & Audi, Marc, 2023. "Analyzing the Impact of Foreign Capital Inflows on the Current Account Balance in Developing Economies: A Panel Data Approach," MPRA Paper 118173, University Library of Munich, Germany.
    75. Huntington, Hillard G., 2015. "Crude oil trade and current account deficits," Energy Economics, Elsevier, vol. 50(C), pages 70-79.
    76. Aleksander Aristovnik, 2005. "Current Account Reversals In Selected Transition Countries," International Finance 0510021, University Library of Munich, Germany.
    77. Herrmann, Sabine & Jochem, Axel, 2005. "Determinants of current account developments in the central and east European EU member states - consequences for the enlargement of the euro area," Discussion Paper Series 1: Economic Studies 2005,32, Deutsche Bundesbank.
    78. Mr. Christoph Duenwald & Nikolay Gueorguiev & Ms. Andrea Schaechter, 2005. "Too Much of a Good Thing? Credit Booms in Transition Economies: The Cases of Bulgaria, Romania, and Ukraine," IMF Working Papers 2005/128, International Monetary Fund.
    79. Mr. Tomasz Wieladek & Mr. Sergi Lanau, 2012. "Financial Regulation and the Current Account," IMF Working Papers 2012/098, International Monetary Fund.

  60. Gernot J. Mueller, 2004. "Understanding the Dynamic Effects of Government Spending on Foreign Trade," Economics Working Papers ECO2004/27, European University Institute.

    Cited by:

    1. Luigi MARATTIN & Simone SALOTTI, 2010. "The Response of Private Consumption to Different Public Spending Categories:VAR Evidence from UK," EcoMod2010 259600111, EcoMod.
    2. Hafedh Bouakez & Aurélien Eyquem, 2011. "Government Spending, Monetary Policy, and the Real Exchange Rate," Working Papers 1139, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    3. Enders, Zeno & Müller, Gernot J. & Scholl, Almuth, 2008. "How do fiscal and technology shocks affect real exchange rates? New evidence for the United States," CFS Working Paper Series 2008/22, Center for Financial Studies (CFS).
    4. Olivier Cardi & Gernot J. Muller, 2010. "Habit Formation and Fiscal Transmission in Open Economies," Working Papers hal-00544484, HAL.
    5. Ilir MITEZA, 2012. "Fiscal Deficits, Current Deficits and Investment: A Panel Causality Framework of 20 OECD countries," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 12(1).
    6. Marco Riguzzi & Philipp Wegmueller, 2017. "Economic Openness and Fiscal Multipliers," International Economic Journal, Taylor & Francis Journals, vol. 31(1), pages 1-35, January.
    7. Hebous, Shafik, 2009. "The Effects of Discretionary Fiscal Policy on Macroeconomic Aggregates: A Reappraisal," MPRA Paper 23300, University Library of Munich, Germany, revised Jun 2010.
    8. Kayhan, Selim & Bayat, Tayfur & Yüzbaşı, Bahadir, 2013. "Government expenditures and trade deficits in Turkey: Time domain and frequency domain analyses," Economic Modelling, Elsevier, vol. 35(C), pages 153-158.
    9. Kevin Grier & Haichun Ye, 2009. "Twin Sons Of Different Mothers: The Long And The Short Of The Twin Deficits Debate," Economic Inquiry, Western Economic Association International, vol. 47(4), pages 625-638, October.
    10. Miyamoto, Wataru & Nguyen, Thuy Lan & Sheremirov, Viacheslav, 2019. "The effects of government spending on real exchange rates: Evidence from military spending panel data," Journal of International Economics, Elsevier, vol. 116(C), pages 144-157.
    11. Jose MOURELLE, 2010. "Financial shocks and macroeconomic policies during the Argentine crisis of 2001-2002," LIDAM Discussion Papers IRES 2010024, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    12. Christopher J. Erceg & Luca Guerrieri & Christopher Gust, 2005. "Expansionary Fiscal Shocks and the US Trade Deficit," International Finance, Wiley Blackwell, vol. 8(3), pages 363-397, December.
    13. Rishav Bista & Josh Ederington & Jenny Minier & Brandon J. Sheridan, 2016. "Austerity and Exports," Review of International Economics, Wiley Blackwell, vol. 24(2), pages 203-225, May.
    14. Mathias Klein & Ludger Linnemann, 2019. "Tax and Spending Shocks in the Open Economy: Are the Deficits Twins?," Discussion Papers of DIW Berlin 1821, DIW Berlin, German Institute for Economic Research.
    15. Michel Normandin, 2011. "Déficits extérieur et budgétaire : jumeaux, petits cousins ou parfaits étrangers?," L'Actualité Economique, Société Canadienne de Science Economique, vol. 87(4), pages 407-443.
    16. Fratzscher, Marcel & Müller, Gernot J. & Bussière, Matthieu, 2005. "Productivity shocks, budget deficits and the current account," Working Paper Series 509, European Central Bank.
    17. Baldi, Guido, 2013. "How do Different Government Spending Categories Impact on Private Consumption and the Real Exchange Rate?," MPRA Paper 48600, University Library of Munich, Germany.
    18. Hafedh Bouakez & Foued Chihi & Michel Normandin, 2011. "Fiscal Policy and External Adjustment: New Evidence," Cahiers de recherche 1123, CIRPEE.
    19. Klein, Mathias & Linnemann, Ludger, 2019. "Tax and spending shocks in the open economy: are the deficits twins?," Working Paper Series 377, Sveriges Riksbank (Central Bank of Sweden).
    20. António Afonso & Florence Huart & João Tovar Jalles & Piotr Stanek, 2018. "Twin Deficits Revisited: a role for fiscal institutions?," Working Papers REM 2018/31, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    21. Nickel, Christiane & Tudyka, Andreas, 2013. "Fiscal stimulus in times of high debt: reconsidering multipliers and twin deficits," Working Paper Series 1513, European Central Bank.
    22. Makin, Anthony J. & Narayan, Paresh Kumar & Narayan, Seema, 2014. "What expenditure does Anglosphere foreign borrowing fund?," Journal of International Money and Finance, Elsevier, vol. 40(C), pages 63-78.
    23. Mohd Nadeem Bhat & Firdos Ikram & Mohd Nayyer Rahman, 2024. "Foreign Direct Investment and Imports in India: Exploring Institutional Dimensions," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 1386-1417, March.
    24. Pieroni, Luca & Lorusso, Marco, 2013. "The Role of Fiscal Policy Components in Private Consumption: a Re-examination of the Effects of Military and Civilian Spending," MPRA Paper 47878, University Library of Munich, Germany.
    25. Roel Beetsma & Massimo Giuliodori, 2010. "Discretionary Fiscal Policy: Review and Estimates for the EU," CESifo Working Paper Series 2948, CESifo.
    26. Müller, Gernot & Born, Benjamin & Juessen, Falko, 2012. "Exchange rate regimes and fiscal multipliers," CEPR Discussion Papers 8986, C.E.P.R. Discussion Papers.
    27. Kia, Amir, 2013. "Determinants of the real exchange rate in a small open economy: Evidence from Canada," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 23(C), pages 163-178.
    28. Aliyev, Ruslan & Zeynalov, Ayaz, 2025. "Determinants of the choice of exchange rate regime in oil-exporting countries," Economic Systems, Elsevier, vol. 49(2).
    29. Klein, Mathias & Linnemann, Ludger, 2019. "Tax and spending shocks in the open economy: Are the deficits twins?," European Economic Review, Elsevier, vol. 120(C).
    30. Stacie Beck & Alexis Chaves, 2011. "The Impact Of Taxes On Trade Competitiveness," Working Papers 11-09, University of Delaware, Department of Economics.
    31. Kim, Soyoung, 2015. "Country characteristics and the effects of government consumption shocks on the current account and real exchange rate," Journal of International Economics, Elsevier, vol. 97(2), pages 436-447.
    32. Kim, Hyeongwoo & Lee, Daeyup, 2018. "The effects of government spending shocks on the trade account balance in Korea," International Review of Economics & Finance, Elsevier, vol. 53(C), pages 57-70.
    33. Ogunlesi, Ayodeji, 2018. "Agricultural Productivity, Fiscal and Trade Policies Nexus in Sub-Saharan Africa: A Panel Structural Vector Error Correction Model Analysis," MPRA Paper 90202, University Library of Munich, Germany.

Articles

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    See citations under working paper version above.
  2. Benjamin Born & Francesco D’Ascanio & Gernot J. Müller & Johannes Pfeifer, 2024. "Mr. Keynes Meets the Classics: Government Spending and the Real Exchange Rate," Journal of Political Economy, University of Chicago Press, vol. 132(5), pages 1642-1683.
    See citations under working paper version above.
  3. Georgiadis, Georgios & Müller, Gernot J. & Schumann, Ben, 2024. "Global risk and the dollar," Journal of Monetary Economics, Elsevier, vol. 144(C).
    See citations under working paper version above.
  4. Christian Bayer & Benjamin Born & Ralph Luetticke & Gernot J Müller, 2023. "The Coronavirus Stimulus Package: How Large is the Transfer Multiplier," The Economic Journal, Royal Economic Society, vol. 133(652), pages 1318-1347.
    See citations under working paper version above.
  5. Kohler, Wilhelm & Müller, Gernot J. & Wellmann, Susanne, 2023. "Risk sharing in currency unions: The migration channel," European Economic Review, Elsevier, vol. 158(C).
    See citations under working paper version above.
  6. Dietrich, Alexander M. & Kuester, Keith & Müller, Gernot J. & Schoenle, Raphael, 2022. "News and uncertainty about COVID-19: Survey evidence and short-run economic impact," Journal of Monetary Economics, Elsevier, vol. 129(S), pages 35-51.
    See citations under working paper version above.
  7. Zeno Enders & Franziska Hünnekes & Gernot Müller, 2022. "Firm Expectations and Economic Activity," Journal of the European Economic Association, European Economic Association, vol. 20(6), pages 2396-2439.
    See citations under working paper version above.
  8. Benjamin Born & Alexander M Dietrich & Gernot J Müller, 2021. "The lockdown effect: A counterfactual for Sweden," PLOS ONE, Public Library of Science, vol. 16(4), pages 1-13, April.
    See citations under working paper version above.
  9. Benjamin Born & Gernot J. Müller & Moritz Schularick & Petr Sedláček, 2021. "The macroeconomic impact of Trump," Policy Studies, Taylor & Francis Journals, vol. 42(5-6), pages 580-591, November.
    See citations under working paper version above.
  10. Benjamin Born & Gernot J. Müller & Johannes Pfeifer, 2020. "Does Austerity Pay Off?," The Review of Economics and Statistics, MIT Press, vol. 102(2), pages 323-338, May.
    See citations under working paper version above.
  11. Alexander Dietrich & Edward S. Knotek & Gernot J. Müller & Kristian Ove R. Myrseth & Raphael Schoenle & Michael Weber, 2020. "Consumers and COVID-19: Survey Results on Mask-Wearing Behaviors and Beliefs," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2020(20), pages 1-7, July.

    Cited by:

    1. Carnehl, Christoph & Fukuda, Satoshi & Kos, Nenad, 2023. "Epidemics with behavior," Journal of Economic Theory, Elsevier, vol. 207(C).
    2. Thomas Wieland, 2023. "Spatial shopping behavior during the Corona pandemic: insights from a micro-econometric store choice model for consumer electronics and furniture retailing in Germany," Journal of Geographical Systems, Springer, vol. 25(2), pages 291-326, April.
    3. Rains, Stephen A. & Colombo, Paulina M. & Quick, Brian L. & Kriss, Lauren A., 2022. "State mask mandates and psychological reactance theory: The role of political partisanship and COVID-19 risk in mask adoption and resistance," Social Science & Medicine, Elsevier, vol. 314(C).
    4. Austin L. Wright & Geet Chawla & Luke Chen & Anthony Farmer, 2020. "Tracking Mask Mandates during the COVID-19 Pandemic," Working Papers 2020-104, Becker Friedman Institute for Research In Economics.

  12. Alexander Dietrich & Edward S. Knotek & Keith Kuester & Gernot J. Müller & Kristian Ove R. Myrseth & Raphael Schoenle & Michael Weber, 2020. "Consumers and COVID-19: A Real-Time Survey," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2020(08), pages 1-6, April.

    Cited by:

    1. Hampson, Daniel P. & Gong, Shiyang & Xie, Yi, 2021. "How consumer confidence affects price conscious behavior: The roles of financial vulnerability and locus of control," Journal of Business Research, Elsevier, vol. 132(C), pages 693-704.
    2. Pablo Aguilar, 2021. "Consumption recovery in 2021: an analysis drawing on consumer expectations," Economic Bulletin, Banco de España, issue 3/2021.
    3. Dietrich, Alexander M. & Müller, Gernot J. & Schoenle, Raphael S., 2024. "Big news: Climate-disaster expectations and the business cycle," Journal of Economic Behavior & Organization, Elsevier, vol. 227(C).
    4. Knotek, Edward S & Mitchell, James & Pedemonte, Mathieu & Shiroff, Taylor, 2024. "The Effects of Interest Rate Increases on Consumers’ Inflation Expectations: The Roles of Informedness and Compliance," IDB Publications (Working Papers) 13758, Inter-American Development Bank.
    5. Billore, Soniya & Anisimova, Tatiana & Vrontis, Demetris, 2023. "Self-regulation and goal-directed behavior: A systematic literature review, public policy recommendations, and research agenda," Journal of Business Research, Elsevier, vol. 156(C).
    6. Platell, Monique & Martin, Karen & Fisher, Colleen & Cook, Angus, 2020. "Comparing adolescent and service provider perceptions on the barriers to mental health service use: A sequential mixed methods approach," Children and Youth Services Review, Elsevier, vol. 115(C).
    7. Dietrich, Alexander M., 2023. "Consumption categories, household attention, and inflation expectations: Implications for optimal monetary policy," University of Tübingen Working Papers in Business and Economics 157, University of Tuebingen, Faculty of Economics and Social Sciences, School of Business and Economics.
    8. Pengpeng Yue & Aslihan Gizem Korkmaz & Zhichao Yin & Haigang Zhou, 2021. "Household-owned Businesses’ Vulnerability to the COVID-19 Pandemic," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 57(6), pages 1662-1674, May.
    9. Xu, Qingyun & He, Yi & Shao, Zhen, 2023. "Retailer's ordering decisions with consumer panic buying under unexpected events," International Journal of Production Economics, Elsevier, vol. 266(C).
    10. Brancati, Emanuele & Brancati, Raffaele, 2020. "Heterogeneous Shocks in the Covid-19 Pandemic: Panel Evidence from Italian Firms," GLO Discussion Paper Series 649, Global Labor Organization (GLO).
    11. Nan Li & Muzi Chen & Difang Huang, 2022. "How Do Logistics Disruptions Affect Rural Households? Evidence from COVID-19 in China," Sustainability, MDPI, vol. 15(1), pages 1-17, December.

  13. Enders, Zeno & Hünnekes, Franziska & Müller, Gernot J., 2019. "Monetary policy announcements and expectations: Evidence from german firms," Journal of Monetary Economics, Elsevier, vol. 108(C), pages 45-63.
    See citations under working paper version above.
  14. Benjamin Born & Gernot J Müller & Moritz Schularick & Petr Sedláček, 2019. "The Costs of Economic Nationalism: Evidence from the Brexit Experiment," The Economic Journal, Royal Economic Society, vol. 129(623), pages 2722-2744.
    See citations under working paper version above.
  15. Kriwoluzky, Alexander & Müller, Gernot J. & Wolf, Martin, 2019. "Exit expectations and debt crises in currency unions," Journal of International Economics, Elsevier, vol. 121(C).
    See citations under working paper version above.
  16. Hettig, Thomas & Müller, Gernot J., 2018. "Fiscal policy coordination in currency unions at the effective lower bound," Journal of International Economics, Elsevier, vol. 115(C), pages 80-98.
    See citations under working paper version above.
  17. Giancarlo Corsetti & Keith Kuester & Gernot J. Müller, 2017. "Fixed on Flexible: Rethinking Exchange Rate Regimes after the Great Recession," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(3), pages 586-632, August.
    See citations under working paper version above.
  18. Kuvshinov, Dmitry & Müller, Gernot J. & Wolf, Martin, 2016. "Deleveraging, deflation and depreciation in the euro area," European Economic Review, Elsevier, vol. 88(C), pages 42-66.
    See citations under working paper version above.
  19. Gernot J. Müller, 2014. "Fiscal Austerity and the Multiplier in Times of Crisis," German Economic Review, Verein für Socialpolitik, vol. 15(2), pages 243-258, May.

    Cited by:

    1. Michaelis, Henrike & Elstner, Steffen & Schmidt, Christoph M. & Bofinger, Peter & Feld, Lars P. & Schnabel, Isabel & Wieland, Volker, 2015. "Keine Notwendigkeit einer Reform des Gesetzes zur Förderung der Stabilität und des Wachstums der Wirtschaft," Working Papers 02/2015, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung.
    2. Berg, Tim Oliver, 2019. "Business Uncertainty And The Effectiveness Of Fiscal Policy In Germany," Macroeconomic Dynamics, Cambridge University Press, vol. 23(4), pages 1442-1470, June.
    3. Klaus Gründler & Niklas Potrafke, 2019. "Ideologically-charged terminology: austerity, fiscal consolidation, and sustainable governance," CESifo Working Paper Series 7613, CESifo.
    4. Roberta De Santis & Piero Esposito & Elena Masi, 2017. "Are there common structural determinants of potential output growth in Europe? An empirical exercise for 11 EMU countries," Working Papers 4, Department of the Treasury, Ministry of the Economy and of Finance.
    5. Drygalla, Andrej & Holtemöller, Oliver & Kiesel, Konstantin, 2017. "The effects of fiscal policy in an estimated DSGE model: The case of the German stimulus packages during the great recession," IWH Discussion Papers 34/2017, Halle Institute for Economic Research (IWH).
    6. Kurt Kratena & Mark Sommer, 2014. "Labour Market Policy and Environmental Fiscal Devaluation: A Cure for Spain in the Aftermath of the Great Recession?," WIFO Working Papers 476, WIFO.
    7. Steffen Elstner & Henrike Michaelis & Christoph M. Schmidt, 2016. "Das leere Versprechen der aktiven Konjunktursteuerung [The Empty Promises of Active Economic Fine-Tuning]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 96(8), pages 534-540, August.
    8. Berg Tim Oliver, 2015. "Time Varying Fiscal Multipliers in Germany," Review of Economics, De Gruyter, vol. 66(1), pages 13-46, April.
    9. Sebastian Dullien & Till Treeck & Henrike Michaelis & Steffen Elstner & Christoph M. Schmidt, 2016. "Argumente gegen die Reform des Stabilitätsgesetzes wenig überzeugend — eine Replik [An Assessment of the Economic Stability and Growth Law — Reply and Response]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 96(4), pages 258-264, April.
    10. Roberta Santis & Piero Esposito & Elena Masi, 2019. "Structural determinants of potential output growth in Europe and the role of fiscal policy," International Economics and Economic Policy, Springer, vol. 16(4), pages 565-591, October.
    11. Henrike Michaelis & Steffen Elstner & Christoph Schmidt, 2015. "Überprüfung des Stabilitäts- und Wachstumsgesetzes," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 95(12), pages 830-836, December.

  20. Corsetti, Giancarlo & Kuester, Keith & Meier, André & Müller, Gernot J., 2014. "Sovereign risk and belief-driven fluctuations in the euro area," Journal of Monetary Economics, Elsevier, vol. 61(C), pages 53-73.
    See citations under working paper version above.
  21. Born, Benjamin & Juessen, Falko & Müller, Gernot J., 2013. "Exchange rate regimes and fiscal multipliers," Journal of Economic Dynamics and Control, Elsevier, vol. 37(2), pages 446-465.
    See citations under working paper version above.
  22. Enders, Zeno & Jung, Philip & Müller, Gernot J., 2013. "Has the Euro changed the business cycle?," European Economic Review, Elsevier, vol. 59(C), pages 189-211.
    See citations under working paper version above.
  23. Giancarlo Corsetti & Keith Kuester & André Meier & Gernot J. Müller, 2013. "Sovereign Risk, Fiscal Policy, and Macroeconomic Stability," Economic Journal, Royal Economic Society, vol. 0, pages 99-132, February.
    See citations under working paper version above.
  24. Giancarlo Corsetti & André Meier & Gernot J. Müller, 2012. "What determines government spending multipliers? [Mafia and public spending: Evidence of the fiscal multiplier from a quasi-experiment’, mimeo]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 27(72), pages 521-565.
    See citations under working paper version above.
  25. Giancarlo Corsetti & André Meier & Gernot J. Müller, 2012. "What determines government spending multipliers? [Mafia and public spending: Evidence of the fiscal multiplier from a quasi-experiment’, mimeo]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 27(72), pages 521-565.

    Cited by:

    1. Uxó González, Jorge & Álvarez, Ignacio & Febrero, Eladio, 2017. "Fiscal space on the eurozone periphery: The case of Spain," IPE Working Papers 84/2017, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    2. Milan Deskar-Škrbić & Hrvoje Šimović & Tomislav Ćorić, 2013. "Effects of Fiscal Policy in a Small Open Economy: Evidence of Croatia," EFZG Working Papers Series 1302, Faculty of Economics and Business, University of Zagreb.
    3. KLEIN, Mathias & POLATTIMUR, Hamza & WINKLER, Roland, 2020. "Fiscal spending multipliers over the household leverage cycle," Working Papers 2020007, University of Antwerp, Faculty of Business and Economics.
    4. Mittnik, Stefan & Semmler, Willi, 2014. "Overleveraging, financial fragility and the banking-macro link: Theory and empirical evidence," ZEW Discussion Papers 14-110, ZEW - Leibniz Centre for European Economic Research.
    5. Hory, Marie-Pierre & Levieuge, Grégory & Onori, Daria, 2023. "The fiscal multiplier when debt is denominated in foreign currency," International Economics, Elsevier, vol. 176(C).
    6. Fernando Broner & Daragh Clancy & Alberto Martin & Aitor Erce, 2017. "Fiscal multipliers and foreign holdings of public debt," Economics Working Papers 1610, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 2021.
    7. Martin Geiger & Marios Zachariadis, 2019. "Assessing Expectations as a Monetary/Fiscal State-Dependent Phenomenon," University of Cyprus Working Papers in Economics 01-2019, University of Cyprus Department of Economics.
    8. Gennady Bilych, 2013. "Is It Possible to Create Goods from Thin Air Using Money and an Expenditure Multiplier?," Business and Economic Research, Macrothink Institute, vol. 3(2), pages 156-172, December.
    9. Salvatore Perdichizzi, 2017. "Estimating Fiscal multipliers in the Eurozone. A Nonlinear Panel Data Approach," DISCE - Working Papers del Dipartimento di Economia e Finanza def058, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    10. Ibrar Hussain & Jawad Hussain & Arshad Ali & Shabir Ahmad, 2021. "A Dynamic Analysis of the Impact of Fiscal Adjustment on Economic Growth: Evidence From Pakistan," SAGE Open, , vol. 11(2), pages 21582440211, June.
    11. Beau Soederhuizen & Rutger Teulings & Rob Luginbuhl, 2023. "Estimating the impact of the financial cycle on fiscal policy," Empirical Economics, Springer, vol. 65(6), pages 2669-2709, December.
    12. Cardi, Olivier & Restout, Romain, 2023. "Sectoral fiscal multipliers and technology in open economy," Journal of International Economics, Elsevier, vol. 144(C).
    13. Ansgar Belke & Dominik Kronen & Thomas Osowski, 2015. "Planned Fiscal Consolidations and Growth Forecast Errors – New Panel Evidence on Fiscal Multipliers," ROME Working Papers 201504, ROME Network.
    14. Wang, Shu-Ling, 2021. "Fiscal stimulus in a high-debt economy? A DSGE analysis," Economic Modelling, Elsevier, vol. 98(C), pages 118-135.
    15. Paula Garda & Volker Ziemann, 2014. "Economic Policies and Microeconomic Stability: A Literature Review and Some Empirics," OECD Economics Department Working Papers 1115, OECD Publishing.
    16. Hernández de Cos, Pablo & Warmedinger, Thomas & Checherita-Westphal, Cristina, 2015. "Fiscal multipliers and beyond," Occasional Paper Series 162, European Central Bank.
    17. Alexandre d'Aspremont & Simon Ben Arous & Jean-Charles Bricongne & Benjamin Lietti & Baptiste Meunier, 2024. "Satellites turn “concrete”: Tracking cement with satellite data and neural networks," Post-Print hal-05104995, HAL.
    18. Piotr Ciżkowicz & Andrzej Rzońca & Rafał Trzeciakowski, 2015. "Membership in the Euro area and fiscal sustainability - Analysis through panel fiscal reaction functions," a/ Working Papers Series 1501, Italian Association for the Study of Economic Asymmetries, Rome (Italy).
    19. Ito, Hiro & Kawai, Masahiro, 2024. "Monetary and fiscal policy impacts under alternative trilemma regimes," Journal of International Money and Finance, Elsevier, vol. 149(C).
    20. Olivier CARDI & Peter CLAEYS & Romain RESTOUT, 2017. "Imperfect mobility of labor across sectors and fiscal transmission," LIDAM Discussion Papers IRES 2017015, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    21. Philipp Wegmueller, 2014. "Utility functions, fiscal shocks and the open economy - In the search of a positive consumption multiplier," Diskussionsschriften dp1407, Universitaet Bern, Departement Volkswirtschaft.
    22. Jarmila Botev & Annabelle Mourougane, 2017. "Fiscal Consolidation: What Are the Breakeven Fiscal Multipliers?," CESifo Economic Studies, CESifo Group, vol. 63(3), pages 295-316.
    23. Christian R. Proaño & Christian Schoder & Willi Semmler, 2013. "Financial Stress, Sovereign Debt and Economic Activity in Industrialized Countries: Evidence from Nonlinear Dynamic Panels," Working Papers 1304, New School for Social Research, Department of Economics.
    24. Jannsen, Nils & Potjagailo, Galina & Wolters, Maik, 2015. "Monetary Policy during Financial Crises: Is the Transmission Mechanism Impaired?," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113096, Verein für Socialpolitik / German Economic Association.
    25. Beetsma, Roel & Furtuna, Oana & Giuliodori, Massimo & Mumtaz, Haroon, 2021. "Revenue- versus spending-based fiscal consolidation announcements: Multipliers and follow-up," Journal of International Economics, Elsevier, vol. 131(C).
    26. Sudip Basu & Clovis Freire & Pisit Puapan & Vatcharin Sirimaneetham & Yusuke Tateno, 2013. "Euro zone debt crisis: scenario analysis and implications for developing Asia-Pacific," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 18(1), pages 1-25.
    27. António Afonso & Jorge Braga Ferreira, 2025. "The ECB's Pandemic Emergency Purchase Programme and Fiscal Policy: Synergies or Conflict?," Working Papers REM 2025/0378, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    28. Konstantinou, Panagiotis Th. & Partheniou, Andromachi, 2021. "The Effects of Government Spending Over the Business Cycle: A Disaggregated Analysis for OECD and Non-OECD Countries," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 809-822.
    29. Christofzik, Désirée I. & Schneider, Benny, 2019. "Fiscal policy adjustments to budget shocks: Evidence from German municipalities," Working Papers 10/2019, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung.
    30. Jackson, Laura E. & Owyang, Michael T. & Zubairy, Sarah, 2018. "Debt and stabilization policy: Evidence from a Euro Area FAVAR," Journal of Economic Dynamics and Control, Elsevier, vol. 93(C), pages 67-91.
    31. Buchheim, Lukas & Watzinger, Martin, 2013. "Do Public Investments Increase Employment in a Recession? Evidence from Germany," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79826, Verein für Socialpolitik / German Economic Association.
    32. Giancarlo Corsetti & Keith Kuester & Andre Meier & Gernot J. Müller, 2011. "Soverign risk and the effects of fiscal retrenchment in deep recessions," Working Papers 11-43, Federal Reserve Bank of Philadelphia.
    33. Antoine Goujard, 2017. "Cross‐Country Spillovers from Fiscal Consolidations," Fiscal Studies, Institute for Fiscal Studies, vol. 38, pages 219-267, June.
    34. Berg, Tim Oliver, 2019. "Business Uncertainty And The Effectiveness Of Fiscal Policy In Germany," Macroeconomic Dynamics, Cambridge University Press, vol. 23(4), pages 1442-1470, June.
    35. Checherita-Westphal, Cristina & Pesso, Tom, 2024. "Fiscal policy and inflation: accounting for non-linearities in government debt," Working Paper Series 2996, European Central Bank.
    36. Anusha Chari & Peter Blair Henry, 2014. "Two Tales of Adjustment: East Asian Lessons for European Growth," Working Papers 14-04, New York University, Leonard N. Stern School of Business, Department of Economics.
    37. Panagiotis Th. Konstantinou & Andromachi Partheniou & Athanasios Tagkalakis, 2025. "A Functional Classification Analysis of Government Spending Multipliers," Open Economies Review, Springer, vol. 36(4), pages 1157-1192, September.
    38. Anastasios Evgenidis & Masashige Hamano & Wessel N. Vermeulen, 2020. "Economic consequences of follow-up disasters: lessons from the 2011 Great East Japan Earthquake," Working Papers e152, Tokyo Center for Economic Research.
    39. Alexandru Minea & Lavinia Teodora Mustea, 2015. "A fresh look at fiscal multipliers: one size fits it all? Evidence from the Mediterranean area," Post-Print halshs-01152806, HAL.
    40. David, Antonio C. & Guajardo, Jaime & Yepez, Juan F., 2022. "The rewards of fiscal consolidations: Sovereign spreads and confidence effects," Journal of International Money and Finance, Elsevier, vol. 123(C).
    41. Christophe Blot & Jérôme Creel & Bruno Ducoudre & Xavier Timbeau, 2015. "Back to fiscal consolidation in Europe and its dual tradeoff : now or later, through spending cuts or tax hikes ?," Working Papers hal-01143545, HAL.
    42. Ethan Ilzetzki & Enrique G. Mendoza & Carlos A. Végh, 2010. "How Big (Small?) are Fiscal Multipliers?," CEP Discussion Papers dp1016, Centre for Economic Performance, LSE.
    43. Pablo Hernández de Cos & Enrique Moral-Benito, 2013. "Fiscal multipliers in turbulent times: the case of Spain," Working Papers 1309, Banco de España.
    44. Marta Gómez-Puig & Simón Sosvilla-Rivero, 2017. "Public debt and economic growth: Further evidence euro area," IREA Working Papers 201715, University of Barcelona, Research Institute of Applied Economics, revised Sep 2017.
    45. Snezana Eminidou & Martin Geiger & Marios Zachariadis, 2021. "Public Debt and state-dependent Effects of Fiscal Policy in the Euro Area," University of Cyprus Working Papers in Economics 03-2021, University of Cyprus Department of Economics.
    46. Ursel Baumann & David Lodge & Mirela S. Miescu, 2024. "Global growth on life support? The contributions of fiscal and monetary policy since the global financial crisis," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(1), pages 76-90, January.
    47. Hyeongwoo Kim & Bijie Jia, 2020. "Assessing the Role of Sentiment in the Propagation of Fiscal Stimulus," Auburn Economics Working Paper Series auwp2020-05, Department of Economics, Auburn University.
    48. Gilles Le Garrec & Vincent Touzé, 2020. "Le multiplicateur d'investissement public," Working Papers hal-03370444, HAL.
    49. Lars Calmfors & Giancarlo Corsetti & John Hassler & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Ákos Valentinyi & Xavier Vives, 2012. "Chapter 1: Macroeconomic Outlook," EEAG Report on the European Economy, CESifo, vol. 0, pages 17-56, February.
    50. Vassilis Monastiriotis, 2014. "(When) Does Austerity Work? On the Conditional Link between Fiscal Austerity and Debt Sustainability," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 8(1), pages 71-92, June.
    51. Hyeongwoo Kim & Shuwei Zhang, 2022. "Policy Coordination and the Effectiveness of Fiscal Stimulus," Auburn Economics Working Paper Series auwp2022-01, Department of Economics, Auburn University.
    52. Cloyne, James & Jordà , Òscar & Taylor, Alan M., 2023. "State-Dependent Local Projections: Understanding Impulse Response Heterogeneity," CEPR Discussion Papers 17903, C.E.P.R. Discussion Papers.
    53. Athanasios Tagkalakis, 2015. "Fiscal policy, net exports, and the sectoral composition of output in Greece," International Economics and Economic Policy, Springer, vol. 12(4), pages 521-539, October.
    54. Valerie A. Ramey, 2019. "Ten Years after the Financial Crisis: What Have We Learned from the Renaissance in Fiscal Research?," NBER Working Papers 25531, National Bureau of Economic Research, Inc.
    55. Lorenzo Domenico & Maria Cristina Barbieri Góes & Ettore Gallo, 2024. "Distribution, capital intensity and public debt-to-GDP ratio: an input output—stock flow consistent model," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 41(2), pages 395-416, July.
    56. Pål Boug & Thomas von Brasch & Ådne Cappelen & Roger Hammersland & Håvard Hungnes & Dag Kolsrud & Julia Skretting & Birger Strøm & Trond C. Vigtel, 2022. "Fiscal policy, macroeconomic performance and industry structure in a small open economy," Discussion Papers 984, Statistics Norway, Research Department.
    57. Christophe Blot & Bruno Ducoudre & Xavier Timbeau, 2016. "Sovereign debt spread and default in a model with self-fulfilling prophecies and asymmetric information," Post-Print hal-03411199, HAL.
    58. Chacko George & Florian Kuhn, 2019. "Business Cycle Implications of Capacity Constraints under Demand Shocks," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 32, pages 94-121, April.
    59. Claudio Borio, 2014. "The financial cycle and macroeconomics: what have we learned and what are the policy implications?," Chapters, in: Ewald Nowotny & Doris Ritzberger-Grünwald & Peter Backé (ed.), Financial Cycles and the Real Economy, chapter 2, pages 10-35, Edward Elgar Publishing.
    60. Geiger, Martin & Zachariadis, Marios, 2022. "Consumers’ Updating, Policy Shocks, And Public Debt: An Empirical Assessment Of State Dependencies," Macroeconomic Dynamics, Cambridge University Press, vol. 26(8), pages 2104-2140, December.
    61. Fragetta, Matteo & Tamborini, Roberto, 2019. "It's not austerity. Or is it? Assessing the effect of austerity on growth in the European Union, 2010-15," International Review of Economics & Finance, Elsevier, vol. 62(C), pages 196-212.
    62. Xavier Ragot, 2015. "Erosion du tissu productif en France : causes et remèdes," SciencePo Working papers Main hal-03594327, HAL.
    63. Marco Riguzzi & Philipp Wegmueller, 2017. "Economic Openness and Fiscal Multipliers," International Economic Journal, Taylor & Francis Journals, vol. 31(1), pages 1-35, January.
    64. Fabrizio Perri & Jonathan Heathcote, 2013. "Wealth and Volatility," 2013 Meeting Papers 385, Society for Economic Dynamics.
    65. Matti Viren, 2014. "Sensitivity of fiscal-policy effects to policy coordination and business cycle conditions," International Economics and Economic Policy, Springer, vol. 11(3), pages 397-411, September.
    66. Davoine, Thomas & Molnar, Matthias, 2020. "Cross-country fiscal policy spillovers and capital-skill complementarity in integrated capital markets," Economic Modelling, Elsevier, vol. 88(C), pages 132-150.
    67. James Cloyne & Òscar Jordà & Alan M. Taylor, 2020. "Decomposing the Fiscal Multiplier," Working Paper Series 2020-12, Federal Reserve Bank of San Francisco.
    68. Jasper Lukkezen & Coen Teulings, 2013. "Optimal fiscal policy," CPB Discussion Paper 242, CPB Netherlands Bureau for Economic Policy Analysis.
    69. Yingxin Shi & Mototsugu Fukushige, 2013. "Long-Run Fiscal Multiplier for Autonomous Prefectures in China," Discussion Papers in Economics and Business 13-10, Osaka University, Graduate School of Economics.
    70. Müller, Gernot & Kuester, Keith & Corsetti, Giancarlo, 2016. "The Case for Flexible Exchange Rates in a Great Recession," CEPR Discussion Papers 11432, C.E.P.R. Discussion Papers.
    71. Syed Kamran Abbas NAQVI* & Syed Faizan IFTIKHAR** & Asghar ALI**, 2019. "The Value of Fiscal Multiplier and Economic Characteristics of Countries," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 29(2), pages 291-311.
    72. Jason Taylor & Wenjun Xue & Hakan Yilmazkuday, 2020. "The Impact of China's Fiscal and Monetary Policy Responses to the Great Recession: An Analysis of Firm-Level Chinese Data," Working Papers 2002, Florida International University, Department of Economics.
    73. Degiannakis, Stavros & Duffy, David & Filis, George & Livada, Alexandra, 2016. "Business cycle synchronisation in EMU: Can fiscal policy bring member-countries closer?," Economic Modelling, Elsevier, vol. 52(PB), pages 551-563.
    74. Paolo Pini, 2013. "What Europe Needs to Be European," Economia politica, Società editrice il Mulino, issue 1, pages 3-12.
    75. Favero, Carlo A. & ,, 2019. "Austerity and Public debt Dynamics," CEPR Discussion Papers 14072, C.E.P.R. Discussion Papers.
    76. Xavier Timbeau & Christophe Blot & Marion Cochard & Bruno Ducoudre & Eric Heyer & Catherine Mathieu & Hervé Péléraux & Mathieu Plane & Christine Rifflart & Danielle Schweisguth & Amel Falah & Céline A, 2012. "La débacle de l'austérité : perspectives économiques 2012 2013 pour l'économie mondiale," SciencePo Working papers Main hal-01024599, HAL.
    77. Osti, Davide, 2013. "The Macroeconomic Effects of Tax Changes: Evidence from Southern European Regions," MPRA Paper 79892, University Library of Munich, Germany.
    78. Marie-Pierre Hory, 2016. "Fiscal multipliers in Emerging Market Economies: Can we learn something from Advanced Economies?," International Economics, CEPII research center, issue 146, pages 59-84.
    79. Jacopo Cimadomo, 2016. "Real-Time Data And Fiscal Policy Analysis: A Survey Of The Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 30(2), pages 302-326, April.
    80. Aloui, Rym & Eyquem, Aurélien, 2019. "Spending multipliers with distortionary taxes: Does the level of public debt matter?," Journal of Macroeconomics, Elsevier, vol. 60(C), pages 275-293.
    81. Christophe Blot & Marion Cochard & Jérôme Creel & Bruno Ducoudre & Danielle Schweisguth & Xavier Timbeau, 2014. "Fiscal Consolidation, Public Debt and Output Dynamics in the Euro Area: lessons from a simple model with time-varying fiscal multipliers," Post-Print hal-03429902, HAL.
    82. Gupta, Mahima & Dubey, Amlendu, 2025. "Structural characteristics and non-linear fiscal multipliers," Economic Systems, Elsevier, vol. 49(1).
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    219. Felix Reichling & Charles Whalen, 2015. "The Fiscal Multiplier and Economic Policy Analysis in the United States: Working Paper 2015-02," Working Papers 49925, Congressional Budget Office.
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    222. DJINKPO, Medard, 2019. "A DSGE model for Fiscal Policy Analysis in The Gambia," MPRA Paper 97874, University Library of Munich, Germany, revised 30 Dec 2019.
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    224. Christina D. Romer & David H. Romer, 2018. "Phillips Lecture – Why Some Times Are Different: Macroeconomic Policy and the Aftermath of Financial Crises," Economica, London School of Economics and Political Science, vol. 85(337), pages 1-40, January.
    225. Osti, Davide, 2015. "An open economy New-Keynesian model of government spending across U.S. regions," MPRA Paper 79895, University Library of Munich, Germany.
    226. Karim Triki, 2016. "Expenditure-based Consolidation: Experiences and Outcomes – Workshop proceedings," European Economy - Discussion Papers 026, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    227. Baumann, Ursel & Lodge, David & Miescu, Mirela S., 2019. "Global growth on life support? The contributions of fiscal and monetary policy since the global financial crisis," Working Paper Series 2248, European Central Bank.
    228. Pragidis, I.C. & Tsintzos, P. & Plakandaras, B., 2018. "Asymmetric effects of government spending shocks during the financial cycle," Economic Modelling, Elsevier, vol. 68(C), pages 372-387.
    229. Charles J. Whalen & Felix Reichling, 2015. "The Fiscal Multiplier And Economic Policy Analysis In The United States," Contemporary Economic Policy, Western Economic Association International, vol. 33(4), pages 735-746, October.
    230. Abdul Abiad & Margarita Debuque-Gonzales & Andrea Loren Sy, 2017. "The Role and Impact of Infrastructure in Middle-Income Countries: Anything Special?," ADB Economics Working Paper Series 518, Asian Development Bank.
    231. Goemans, Pascal, 2023. "The impact of public consumption and investment in the euro area during periods of high and normal uncertainty," Economic Modelling, Elsevier, vol. 126(C).
    232. López-Villavicencio, Antonia, 2013. "Interest rates, government purchases and the Taylor rule in recessions and expansions," Journal of Macroeconomics, Elsevier, vol. 38(PB), pages 382-392.
    233. Alberto Botta, 2014. "Conflicting claims in the eurozone? Austerity's myopia and the need for a European Federal Union in a post-Keynesian eurozone center–periphery model," Review of Keynesian Economics, Edward Elgar Publishing, vol. 2(1), pages 45-70, January.
    234. Gustav A. Horn & Sebastian Gechert & Katja Rietzler & Kai D. Schmid, 2014. "Streitfall Fiskalpolitik," IMK Report 92-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    235. Coppola, Gianluigi & Destefanis, Sergio & Di Serio, Mario & Fragetta, Matteo, 2024. "Fiscal multipliers in recession and expansion. An analysis for the Italian regions," Structural Change and Economic Dynamics, Elsevier, vol. 71(C), pages 538-556.
    236. Emmanouil Kitsios & Manasa Patnam, 2016. "Estimating Fiscal Multipliers with Correlated Heterogeneity," IMF Working Papers 2016/013, International Monetary Fund.
    237. Jamie Murray, 2013. "Parameter Uncertainty and the Fiscal Multiplier," Treasury Working Paper Series 13/19, New Zealand Treasury.
    238. Matti Viren, 2012. "Problems of fiscal consolidation and policy coordination," Discussion Papers 82, Aboa Centre for Economics.
    239. Roel Beetsma & Massimo Giuliodori, 2011. "The Effects of Government Purchases Shocks: Review and Estimates for the EU," Economic Journal, Royal Economic Society, vol. 121(550), pages 4-32, February.
    240. Zsóka Kóczán, 2016. "Fiscal policy, business cycles and discretion: evidence from the Western Balkans," Post-Communist Economies, Taylor & Francis Journals, vol. 28(4), pages 468-486, October.
    241. Auerbach, Alan J, 2019. "Fiscal Policy," Department of Economics, Working Paper Series qt6jn5158q, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    242. Aitor Erce, 2014. "Banking on seniority: the IMF and the sovereign’s creditors," Globalization Institute Working Papers 175, Federal Reserve Bank of Dallas.
    243. Virkola, Tuomo, 2014. "Exchange Rate Regime, Fiscal Foresight and the Effectiveness of Fiscal Policy in a Small Open Economy," ETLA Reports 20, The Research Institute of the Finnish Economy.
    244. Jia, Bijie, 2017. "A Second Thought on Estimating Expansionary Fiscal Policy Effects in the U.S," MPRA Paper 89264, University Library of Munich, Germany, revised Sep 2018.
    245. George Chouliarakis & Tadeusz Gwiazdowski & Sophia Lazaretou, 2016. "The Effect of Fiscal Policy on Output in Times of Crisis and Prosperity: Historical Evidence From Greece ," Centre for Growth and Business Cycle Research Discussion Paper Series 230, Economics, The University of Manchester.
    246. Ashima Goyal & Bhavyaa Sharma, 2018. "Government Expenditure in India: Composition and Multipliers," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 16(1), pages 47-85, December.
    247. Michal Bencik, 2014. "Dual regime fiscal multipliers in converging economies - a simplified STVAR approach," Working and Discussion Papers WP 2/2014, Research Department, National Bank of Slovakia.
    248. Adnan Efendic & Naida Trkic-Izmirlija, 2013. "Effects of the global economic crisis and public spending on income distribution in Bosnia and Herzegovina," wiiw Balkan Observatory Working Papers 108, The Vienna Institute for International Economic Studies, wiiw.
    249. Dell'Erba, Salvatore & Koloskova, Ksenia & Poplawski-Ribeiro, Marcos, 2018. "Medium-term fiscal multipliers during protracted economic contractions," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 35-52.
    250. MOLTENI, Francesco, PAPPA, Evi, 2017. "The Combination of Monetary and Fiscal Policy Shocks: A TVP-FAVAR Approach," Economics Working Papers MWP 2017/13, European University Institute.
    251. Heinz Handler, 2013. "Fiskalmultiplikatoren in der Krise," WIFO Monatsberichte (monthly reports), WIFO, vol. 86(12), pages 977-984, December.
    252. Pietro Alessandrini & Michele Fratianni & Andrew Hughes Hallett & Andrea Presbitero, 2014. "External Imbalances and Fiscal Fragility in the Euro Area," Open Economies Review, Springer, vol. 25(1), pages 3-34, February.
    253. Alexey Balaev, 2019. "The structure of public spending and economic growth in Russia," Russian Journal of Economics, ARPHA Platform, vol. 5(2), pages 154-176, July.
    254. Ashoka Mody, 2015. "Living (dangerously) without a fiscal union," Bruegel Working Papers 875, Bruegel.
    255. Abdul Abiad & Margarita Debuque-Gonzales & Andrea Loren Sy, 2018. "The Evolution and Impact of Infrastructure in Middle-Income Countries: Anything Special?," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 54(6), pages 1239-1263, May.
    256. Ju Hyun Pyun & Dong-Eun Rhee, 2015. "Fiscal Multipliers During The Global Financial Crisis: Fiscal And Monetary Interaction Matters," Contemporary Economic Policy, Western Economic Association International, vol. 33(1), pages 207-220, January.
    257. Kollintzas, Tryphon & Tsoukalas, Konstantinos, 2015. "Bank and Sovereign Risk Interdependence in the Euro Area," CEPR Discussion Papers 10485, C.E.P.R. Discussion Papers.
    258. Stefano Grassi & Marco Lorusso & Francesco Ravazzolo, 2025. "Adaptive Importance Sampling Estimation of an Open Economy Model with Fiscal Policy," BEMPS - Bozen Economics & Management Paper Series BEMPS111, Faculty of Economics and Management at the Free University of Bozen.
    259. Jorge Miranda-Pinto & Daniel P. Murphy & Kieran Walsh & Eric Young, 2020. "Saving Constraints, Debt, and the Credit Market Response to Fiscal Stimulus," Working Papers 20-07, Federal Reserve Bank of Cleveland.
    260. Gustav A. Horn & Sebastian Gechert & Alexander Herzog-Stein & Katja Rietzler & Silke Tober & Sabine Stephan & Andrew Watt, 2013. "Inmitten der Krise des Euroraums - Herausforderungen für die Wirtschaftspolitik 2013," IMK Report 79-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    261. Viacheslav Sheremirov & Sandra Spirovska, 2019. "Fiscal multipliers in advanced and developing countries: evidence from military spending," Working Papers 19-3, Federal Reserve Bank of Boston.
    262. Hristov, Atanas, 2012. "The Effects of Discretionary Fiscal Stimulus: A Survey," MPRA Paper 44714, University Library of Munich, Germany.
    263. Zsoka Koczan, 2015. "Fiscal Deficit and Public Debt in the Western Balkans: 15 Years of Economic Transition," IMF Working Papers 2015/172, International Monetary Fund.
    264. Saccone, Donatella & Posta, Pompeo Della & Marelli, Enrico & Signorelli, Marcello, 2022. "Public investment multipliers by functions of government: An empirical analysis for European countries," Structural Change and Economic Dynamics, Elsevier, vol. 60(C), pages 531-545.
    265. Bechchani, Khalil, 2025. "Austerity reexamined: Uncovering the role of the shadow economy," Economic Analysis and Policy, Elsevier, vol. 85(C), pages 1291-1317.
    266. El Mostafa Bentour, 2022. "The effects of public debt accumulation and business cycle on government spending multipliers," Applied Economics, Taylor & Francis Journals, vol. 54(19), pages 2231-2256, April.
    267. Ricardo Silva & Vitor Manuel Carvalho & Ana Paula Ribeiro, 2013. "How large are fiscal multipliers? A panel-data VAR approach for the Euro area," FEP Working Papers 500, Universidade do Porto, Faculdade de Economia do Porto.
    268. Kim, Soyoung, 2015. "Country characteristics and the effects of government consumption shocks on the current account and real exchange rate," Journal of International Economics, Elsevier, vol. 97(2), pages 436-447.
    269. Beau Soederhuizen & Rutger Teulings & Rob Luginbuhl, 2019. "Estimating the Impact of the Financial Cycle on Fiscal Policy," CPB Discussion Paper 398, CPB Netherlands Bureau for Economic Policy Analysis.
    270. Helmut Herwartz & Malte Rengel, 2018. "Size-corrected inference in fiscal policy reaction functions: a three country assessment," Empirical Economics, Springer, vol. 55(2), pages 391-416, September.
    271. Petrović, Pavle & Arsić, Milojko & Nojković, Aleksandra, 2021. "Increasing public investment can be an effective policy in bad times: Evidence from emerging EU economies," Economic Modelling, Elsevier, vol. 94(C), pages 580-597.
    272. Eichler, Stefan & Pyun, Ju Hyun, 2022. "Ricardian equivalence, foreign debt and sovereign default risk," Journal of Economic Behavior & Organization, Elsevier, vol. 197(C), pages 21-49.
    273. Min, Feng & Wen, Fenghua & Wang, Xiong, 2022. "Measuring the effects of monetary and fiscal policy shocks on domestic investment in China," International Review of Economics & Finance, Elsevier, vol. 77(C), pages 395-412.

  26. Giancarlo Corsetti & André Meier & Gernot J. Müller, 2012. "Fiscal Stimulus with Spending Reversals," The Review of Economics and Statistics, MIT Press, vol. 94(4), pages 878-895, November.
    See citations under working paper version above.
  27. Benjamin Born & Gernot J. M√Úller, 2012. "Government Spending Shocks in Quarterly and Annual Time Series," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44, pages 507-517, March.
    See citations under working paper version above.
  28. Gernot Müller, 2012. "Fiskalpolitik und Finanzmärkte: Perspektiven für Forschung und Wirtschaftspolitik," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 13, pages 13-35, May.

    Cited by:

    1. Spahn, Peter, 2013. "Subprime and euro crisis: Should we blame the economists?," FZID Discussion Papers 83-2013, University of Hohenheim, Center for Research on Innovation and Services (FZID).
    2. Heinz Handler, 2013. "Fiskalmultiplikatoren in der Krise," WIFO Monatsberichte (monthly reports), WIFO, vol. 86(12), pages 977-984, December.

  29. Wieland, Volker & Cwik, Tobias & Müller, Gernot J. & Schmidt, Sebastian & Wolters, Maik, 2012. "A new comparative approach to macroeconomic modeling and policy analysis," Journal of Economic Behavior & Organization, Elsevier, vol. 83(3), pages 523-541.
    See citations under working paper version above.
  30. Kollmann, Robert & Enders, Zeno & Müller, Gernot J., 2011. "Global banking and international business cycles," European Economic Review, Elsevier, vol. 55(3), pages 407-426, April.
    See citations under working paper version above.
  31. Cwik, Tobias & Müller, Gernot J. & Wolters, Maik H., 2011. "Does trade integration alter monetary policy transmission?," Journal of Economic Dynamics and Control, Elsevier, vol. 35(4), pages 545-564, April.
    See citations under working paper version above.
  32. Giancarlo Corsetti & Keith Kuester & Gernot J. Müller, 2011. "Floats, Pegs and the Transmission of Fiscal Policy," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 14(2), pages 5-38, August.
    See citations under working paper version above.
  33. Enders, Zeno & Müller, Gernot J. & Scholl, Almuth, 2011. "How do fiscal and technology shocks affect real exchange rates?: New evidence for the United States," Journal of International Economics, Elsevier, vol. 83(1), pages 53-69, January.
    See citations under working paper version above.
  34. Cardi, Olivier & Müller, Gernot J., 2011. "Habit formation and fiscal transmission in open economies," Journal of International Economics, Elsevier, vol. 85(2), pages 256-267.
    See citations under working paper version above.
  35. Giancarlo Corsetti & Keith Kuester & André Meier & Gernot J. Müller, 2010. "Debt Consolidation and Fiscal Stabilization of Deep Recessions," American Economic Review, American Economic Association, vol. 100(2), pages 41-45, May.
    See citations under working paper version above.
  36. Giancarlo Corsetti & André Meier & Gernot J. Müller, 2010. "Cross-Border Spillovers from Fiscal Stimulus," International Journal of Central Banking, International Journal of Central Banking, vol. 6(1), pages 5-37, March.
    See citations under working paper version above.
  37. Bussière, Matthieu & Fratzscher, Marcel & Müller, Gernot J., 2010. "Productivity shocks, budget deficits and the current account," Journal of International Money and Finance, Elsevier, vol. 29(8), pages 1562-1579, December.
    See citations under working paper version above.
  38. Enders, Zeno & Müller, Gernot J., 2009. "On the international transmission of technology shocks," Journal of International Economics, Elsevier, vol. 78(1), pages 45-59, June.

    Cited by:

    1. Andrea Raffo, 2008. "Technology Shocks: Novel Implications for International Business Cycles," 2008 Meeting Papers 511, Society for Economic Dynamics.
    2. Mykhaylova Olena & Staveley-O’Carroll James, 2014. "International transmission of productivity shocks with nonzero net foreign debt," The B.E. Journal of Macroeconomics, De Gruyter, vol. 14(1), pages 579-624, January.
    3. Kyriacos Lambrias, 2019. "Online Appendix to "Real exchange rates and international co-movement: News-shocks and non-tradable goods with complete markets"," Online Appendices 18-211, Review of Economic Dynamics.
    4. Metiu, Norbert, 2020. "Anticipation effects of protectionist U.S. trade policies," Discussion Papers 52/2020, Deutsche Bundesbank.
    5. James Staveley-O'Carroll & Olena M. Staveley-O'Carroll, 2016. "Impact of Pension System Structure on International Financial Capital Allocation," Working Papers 1601, College of the Holy Cross, Department of Economics.
    6. Enders, Zeno & Müller, Gernot J. & Scholl, Almuth, 2008. "How do fiscal and technology shocks affect real exchange rates? New evidence for the United States," CFS Working Paper Series 2008/22, Center for Financial Studies (CFS).
    7. Almira Enders & Zeno Enders & Mathias Hoffmann, 2017. "International Financial Market Integration, Asset Compositions, and the Falling Exchange Rate Pass-Through," CESifo Working Paper Series 6483, CESifo.
    8. Bodenstein, Martin, 2010. "Trade elasticity of substitution and equilibrium dynamics," Journal of Economic Theory, Elsevier, vol. 145(3), pages 1033-1059, May.
    9. Wu, Jing Cynthia & Zhang, Ji, 2019. "Global effective lower bound and unconventional monetary policy," Journal of International Economics, Elsevier, vol. 118(C), pages 200-216.
    10. Sofoklis Vogiazas & Constantinos Alexiou & Orafiri C. Ogan, 2019. "Drivers of the real effective exchange rates in high and upper‐middle income countries," Australian Economic Papers, Wiley Blackwell, vol. 58(1), pages 41-53, March.
    11. Saeidinezhad, Elham, 2014. "The International Spillover of Fiscal and Technology Shocks before the Crisis: The case of the UK and Italy," MPRA Paper 98556, University Library of Munich, Germany.
    12. Steffen Elstner & Lars P. Feld & Christoph M. Schmidt, 2018. "The German Productivity Paradox - Facts and Explanations," CESifo Working Paper Series 7231, CESifo.
    13. Katrin Rabitsch, 2016. "An Incomplete Markets Explanation of the Uncovered Interest Rate Parity Puzzle," Review of International Economics, Wiley Blackwell, vol. 24(2), pages 422-446, May.
    14. Elstner, Steffen & Rujin, Svetlana, 2019. "The consequences of U.S. technology changes for productivity in advanced economies," Ruhr Economic Papers 796, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    15. Kyriacos Lambrias, 2013. "News Shocks, Real Exchange Rates and International Co-Movements," BCL working papers 83, Central Bank of Luxembourg.
    16. Gehrke, Britta & Yao, Fang, 2016. "Persistence and Volatility of Real Exchange Rates: The Role of Supply Shocks Revisited," VfS Annual Conference 2016 (Augsburg): Demographic Change 145752, Verein für Socialpolitik / German Economic Association.
    17. Kostas Mavromatis, 2018. "U.S. Monetary Regimes and Optimal Monetary Policy in the Euro Area," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(7), pages 1441-1478, October.
    18. Emre Özçelik & Mustafa Tuğan, 2024. "Terms‐of‐trade effects of productivity shocks in developing economies," Review of International Economics, Wiley Blackwell, vol. 32(4), pages 1587-1606, September.
    19. Kaan Celebi & Werner Roeger & Paul J. J. Welfens, 2024. "Persistent US Current Account Deficit: The Role of Foreign Direct Investment," Discussion Papers of DIW Berlin 2074, DIW Berlin, German Institute for Economic Research.
    20. Cavallari, Lilia, 2022. "The international real business cycle when demand matters," Journal of Macroeconomics, Elsevier, vol. 73(C).
    21. Katrin Rabitsch, 2014. "An Incomplete Markets Explanation to the UIP Puzzle," Department of Economics Working Papers wuwp171, Vienna University of Economics and Business, Department of Economics.
    22. Enders, Zeno & Peter, Alexandra, 2015. "Global Banking, Trade, and the International Transmission of the Great Recession," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113022, Verein für Socialpolitik / German Economic Association.
    23. Pau Rabanal & Juan F. Rubio-Ramirez, 2015. "Can international macroeconomic models explain low-frequency movements of real exchange rates?," Working Papers 1508, BBVA Bank, Economic Research Department.
    24. Rabitsch, Katrin, 2016. "An incomplete markets explanation of the UIP puzzle," FinMaP-Working Papers 53, Collaborative EU Project FinMaP - Financial Distortions and Macroeconomic Performance: Expectations, Constraints and Interaction of Agents.
    25. Daniele Siena, 2014. "The European Monetary Union and Imbalances: Is it an Anticipation Story ?," Working papers 501, Banque de France.
    26. Evers, Michael P., 2015. "Fiscal federalism and monetary unions: A quantitative assessment," Journal of International Economics, Elsevier, vol. 97(1), pages 59-75.
    27. Parantap Basu & Christoph Thoenissen, 2011. "International business cycles and the relative price of investment goods," Canadian Journal of Economics, Canadian Economics Association, vol. 44(2), pages 580-606, May.
    28. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2006. "Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism Among G7 Countries," NBER Working Papers 12483, National Bureau of Economic Research, Inc.
    29. Ken-ichi Hashimoto, 2015. "Tariffs, Offshoring and Unemployment in A Two-Country Model," The Japanese Economic Review, Japanese Economic Association, vol. 66(3), pages 371-392, September.
    30. Miyamoto, Wataru & Nguyen, Thuy Lan, 2017. "Understanding the cross-country effects of U.S. technology shocks," Journal of International Economics, Elsevier, vol. 106(C), pages 143-164.
    31. Ansgar Belke & Steffen Elstner & Svetlana Rujin, 2022. "Growth Prospects and the Trade Balance in Advanced Economies," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(5), pages 1209-1234, October.
    32. Peter, Alexandra, 2010. "Bilateral Trade, Openness and Asset Holdings," Bonn Econ Discussion Papers 21/2010, University of Bonn, Bonn Graduate School of Economics (BGSE).
    33. Lambrias, Kyriacos, 2016. "Real exchange rates and international co-movement: news-shocks and non-tradable goods with complete markets," Working Paper Series 1946, European Central Bank.
    34. Evers, Michael P., 2012. "Federal fiscal transfer rules in monetary unions," European Economic Review, Elsevier, vol. 56(3), pages 507-525.
    35. Nam, Deokwoo & Wang, Jian, 2015. "The effects of surprise and anticipated technology changes on international relative prices and trade," Journal of International Economics, Elsevier, vol. 97(1), pages 162-177.
    36. Jiang, Shifu, 2017. "The cause of an integral correction mechanism of the real exchange rate," Economics Letters, Elsevier, vol. 161(C), pages 66-70.
    37. James Staveley-O'Carroll & Olena M. Staveley-O'Carroll, 2016. "Exchange Rate Targeting in the Presence of Foreign Debt Obligations," Working Papers 1604, College of the Holy Cross, Department of Economics.
    38. Katrin Rabitsch, 2012. "The Role of Financial Market Structure and the Trade Elasticity for Monetary Policy in Open Economies," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(4), pages 603-629, June.
    39. Dmitriev, Alexandre & Roberts, Ivan, 2013. "The cost of adjustment: On comovement between the trade balance and the terms of trade," Economic Modelling, Elsevier, vol. 35(C), pages 689-700.
    40. Dey, Jaya, 2013. "The role of investment-specific technology shocks in driving international business cycles: a bayesian approach," MPRA Paper 57803, University Library of Munich, Germany, revised 06 Aug 2014.
    41. Müller, Gernot & Born, Benjamin & Juessen, Falko, 2012. "Exchange rate regimes and fiscal multipliers," CEPR Discussion Papers 8986, C.E.P.R. Discussion Papers.
    42. Alexandra Peter, 2012. "Bilateral Trade, Openness, and Asset Holdings," Open Economies Review, Springer, vol. 23(4), pages 713-740, September.
    43. James Staveley-O'Carroll & Olena Staveley-O'Carroll, 2018. "International Risk Sharing in Overlapping Generations Models," Working Papers 1806, College of the Holy Cross, Department of Economics.
    44. Daniele Siena, 2017. "What's News in International Business Cycles," 2017 Meeting Papers 1206, Society for Economic Dynamics.
    45. Klein, Mathias & Linnemann, Ludger, 2021. "Real exchange rate and international spillover effects of US technology shocks," Journal of International Economics, Elsevier, vol. 129(C).
    46. Jiang, Mingming, 2017. "On demand shocks and international business cycle puzzles," Economics Letters, Elsevier, vol. 160(C), pages 29-32.
    47. Dmitriev, Alexandre, 2017. "Composite habits and international transmission of business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 76(C), pages 1-34.
    48. Gozgor, Giray, 2018. "Does the structure of employment affect the external imbalances? Theory and evidence," Structural Change and Economic Dynamics, Elsevier, vol. 45(C), pages 77-83.
    49. Dey, Jaya, 2017. "The Role Of Investment-Specific Technology Shocks In Driving International Business Cycles: A Bayesian Approach," Macroeconomic Dynamics, Cambridge University Press, vol. 21(3), pages 555-598, April.
    50. Mr. Tomasz Wieladek & Mr. Sergi Lanau, 2012. "Financial Regulation and the Current Account," IMF Working Papers 2012/098, International Monetary Fund.
    51. Rabitsch, Katrin, 2014. "An Incomplete Markets Explanation to the UIP Puzzle," Department of Economics Working Paper Series 171, WU Vienna University of Economics and Business.

  39. Kuester, Keith & Müller, Gernot J. & Stölting, Sarah, 2009. "Is the New Keynesian Phillips curve flat?," Economics Letters, Elsevier, vol. 103(1), pages 39-41, April.
    See citations under working paper version above.
  40. Florin O. Bilbiie & Andr… Meier & Gernot J. M‹Ller, 2008. "What Accounts for the Changes in U.S. Fiscal Policy Transmission?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(7), pages 1439-1470, October.
    See citations under working paper version above.
  41. Müller, Gernot J., 2008. "Understanding the dynamic effects of government spending on foreign trade," Journal of International Money and Finance, Elsevier, vol. 27(3), pages 345-371, April.
    See citations under working paper version above.
  42. Giancarlo Corsetti & Gernot J. Müller, 2008. "Twin Deficits, Openness, and the Business Cycle," Journal of the European Economic Association, MIT Press, vol. 6(2-3), pages 404-413, 04-05.
    See citations under working paper version above.
  43. Giancarlo Corsetti & Gernot J. Müller, 2006. "Twin deficits: squaring theory, evidence and common sense [‘Temporary and permanent government spending in an open economy: some evidence for the United Kingdom’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 21(48), pages 598-638.
    See citations under working paper version above.
  44. Giancarlo Corsetti & Gernot J. Müller, 2006. "Twin deficits: squaring theory, evidence and common sense [‘Temporary and permanent government spending in an open economy: some evidence for the United Kingdom’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 21(48), pages 598-638.

    Cited by:

    1. Yoichi Matsubayashi, 2010. "Budget Deficits and Current Account in Japan and the U.S.: An Empirical Evidence on the Twin Deficits Hypothesis," Discussion Papers 1010, Graduate School of Economics, Kobe University.
    2. Hafedh Bouakez & Aurélien Eyquem, 2011. "Government Spending, Monetary Policy, and the Real Exchange Rate," Working Papers 1139, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    3. Romanos Priftis & Srec̆ko Zimic, 2021. "Sources of Borrowing and Fiscal Multipliers [Emerging market business cycles: the cycle is the trend]," The Economic Journal, Royal Economic Society, vol. 131(633), pages 498-519.
    4. Martin Boileau & Michel Normandin, 2008. "Do Tax Cuts Generate Twin Deficits? A Multi-Country Analysis," Cahiers de recherche 0832, CIRPEE.
    5. Mario Forni & Luca Gambetti, 2014. "Government Spending Shocks in Open Economy VARs," Center for Economic Research (RECent) 105, University of Modena and Reggio E., Dept. of Economics "Marco Biagi".
    6. Konstantinos Chisiridis & Kostas Mouratidis & Theodore Panagiotidis, 2018. "The North-South Divide, the Euro and the World," Working Papers 2018015, The University of Sheffield, Department of Economics.
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    8. Stuart Landon & Constance Smith, 2017. "Does the Design of a Fiscal Rule Matter for Welfare?," Working Papers 2017-2, University of Alberta, Department of Economics.
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    141. Ogunlesi, Ayodeji, 2018. "Agricultural Productivity, Fiscal and Trade Policies Nexus in Sub-Saharan Africa: A Panel Structural Vector Error Correction Model Analysis," MPRA Paper 90202, University Library of Munich, Germany.

Chapters

  1. Giancarlo Corsetti & Gernot J. Müller, 2013. "Multilateral Economic Cooperation and the International Transmission of Fiscal Policy," NBER Chapters, in: Globalization in an Age of Crisis: Multilateral Economic Cooperation in the Twenty-First Century, pages 257-297, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  2. Giancarlo Corsetti & Keith Kuester & Gernot J. Müller, 2013. "Floats, Pegs and the Transmission of Fiscal Policy," Central Banking, Analysis, and Economic Policies Book Series, in: Luis Felipe Céspedes & Jordi Galí (ed.),Fiscal Policy and Macroeconomic Performance, edition 1, volume 17, chapter 7, pages 235-281, Central Bank of Chile.
    See citations under working paper version above.Sorry, no citations of chapters recorded.
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