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Andre Meier

Citations

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Working papers

  1. Federle, Jonathan & Meier, André & Müller, Gernot & Sehn, Victor, 2022. "Proximity to War: The stock market response to the Russian invasion of Ukraine," CEPR Discussion Papers 17185, Centre for Economic Policy Research.

    Cited by:

    1. Marcel Schlepper & Timo Wochner, 2026. "Economic Development in the Shadow of War," CESifo Working Paper Series 12915, CESifo.

  2. Corsetti, Giancarlo & Müller, Gernot & Kuester, Keith & Meier, André, 2013. "Sovereign risk and belief-driven fluctuations in the euro area," CEPR Discussion Papers 9723, Centre for Economic Policy Research.

    Cited by:

    1. Erica Perego, 2018. "Sovereign Risk and Asset Market Dynamics in the Euro Area," Working Papers 2018-18, CEPII research center.
    2. Stéphane Auray & Aurélien Eyquem & Xiaofei Ma, 2018. "Banks, Sovereign Risk and Unconventional Monetary Policies," Working Papers halshs-01942734, HAL.
    3. Eijffinger, Sylvester & Kobielarz, Michal & Uras, Burak, 2015. "Sovereign Debt, Bail-Outs and Contagion in a Monetary Union," CEPR Discussion Papers 10459, Centre for Economic Policy Research.
    4. Stefan Niemann & Paul Pichler, 2020. "Optimal fiscal policy and sovereign debt crises," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 234-254, July.
    5. David Alaminos & Marã A Belã‰N Salas & Manuel A. Fernã Ndez-Gã Mez, 2025. "Deep Neural Networks Methods For Estimating Market Microstructure And Speculative Attacks Models: The Case Of Government Bond Market," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 70(04), pages 1069-1104, June.
    6. Markus Kirchner & Malte Rieth, 2020. "Sovereign Default Risk, Macroeconomic Fluctuations and Monetary-Fiscal Stabilization," Working Papers Central Bank of Chile 896, Central Bank of Chile.
    7. Diniz, Andre & Guimaraes, Bernardo, 2017. "How diabolic is the sovereign-bank loop? The effects of post-default fiscal policies," LSE Research Online Documents on Economics 86169, London School of Economics and Political Science, LSE Library.
    8. Bertrand Candelon & Angelo Luisi & Francesco Roccazzella, 2021. "Fragmentation in the European Monetary Union: Is it really over?," GRU Working Paper Series GRU_2021_016, City University of Hong Kong, Department of Economics and Finance, Global Research Unit.
    9. Corsetti, Giancarlo & Dedola, Luca & Jarocinski, Marek & Mackowiak, Bartosz & Schmidt, Sebastian, 2017. "Macroeconomic Stabilization, Monetary-Fiscal Interactions, and Europe’s Monetary Union," CEPR Discussion Papers 12371, Centre for Economic Policy Research.
    10. 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.
    11. 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).
    12. 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.
    13. Agénor, Pierre-Richard & Jackson, Timothy & Jia, Pengfei, 2021. "Macroprudential policy coordination in a currency union," European Economic Review, Elsevier, vol. 137(C).
    14. Eijffinger, Sylvester C.W. & Kobielarz, Michał L. & Uras, Burak R., 2018. "Sovereign default, exit and contagion in a monetary union," Journal of International Economics, Elsevier, vol. 113(C), pages 1-19.
    15. Cizkowicz, Piotr & Rzonca, Andrzej & Trzeciakowski, Rafal, 2015. "Membership in the Euro area and fiscal sustainability. Analysis through panel fiscal reaction functions," MPRA Paper 61560, University Library of Munich, Germany.
    16. 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.
    17. 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.
    18. Stéphane Auray & Aurélien Eyquem, 2017. "On the Role of Debt Maturity in a Model with Sovereign Risk and Financial Frictions," Working Papers 1707, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
    19. Boris Hofmann & Nikhil Patel & Steve Pak Yeung Wu, 2022. "Original sin redux: a model-based evaluation," BIS Working Papers 1004, Bank for International Settlements.
    20. 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.
    21. Diniz, Andre & Guimaraes, Bernardo, 2014. "Financial disruption as a cost of sovereign default: a quantitative assessment," LSE Research Online Documents on Economics 86329, London School of Economics and Political Science, LSE Library.
    22. Dallal Bendjellal, 2022. "Sovereign Risk, Financial Fragility and Debt Maturity," AMSE Working Papers 2222, Aix-Marseille School of Economics, France.
    23. 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.
    24. Bhattarai, Saroj & Lee, Jae Won & Park, Woong Yong, 2015. "Optimal monetary policy in a currency union with interest rate spreads," Journal of International Economics, Elsevier, vol. 96(2), pages 375-397.
    25. Philippe Martin & Thomas Philippon, 2017. "Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone," Post-Print hal-03391984, HAL.
    26. 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?," Sciences Po Economics Publications (main) hal-00980392, HAL.
    27. Gomez-Gonzalez, Patricia & Rees, Daniel M., 2018. "Same Spain, less pain?," European Economic Review, Elsevier, vol. 110(C), pages 78-107.
    28. 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.
    29. Dennis Bonam & Jasper Lukkezen, 2014. "Fiscal and Monetary Policy Coordination, Macroeconomic Stability, and Sovereign Risk," Tinbergen Institute Discussion Papers 14-006/VI, Tinbergen Institute.
    30. 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.
    31. 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).
    32. 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.
    33. Noel, Dorian M. & Bangwayo-Skeete, Prosper F. & Brei, Michael & Robinson, Justin, 2021. "Sovereign risk spill-overs in the banking sectors of Central America and the Caribbean," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 73(C).
    34. 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.
    35. Brand, Thomas & Tripier, Fabien, 2021. "Risk shocks and divergence between the Euro area and the US in the aftermath of the Great Recession," CEPREMAP Working Papers (Docweb) 2101, CEPREMAP.
    36. Li, Delong & Magud, Nicolas E. & Werner, Alejandro, 2023. "The long-run impact of sovereign yields on corporate yields in emerging markets," Journal of International Money and Finance, Elsevier, vol. 130(C).
    37. 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.
    38. 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.
    39. Eichler, Stefan & Rövekamp, Ingmar, 2017. "Eurozone exit risk," CEPIE Working Papers 07/17, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
    40. Dallal Bendjellal, 2022. "Sovereign Risk, Financial Fragility and Debt Maturity," Working Papers hal-03792522, HAL.
    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. Yoshimori, Masaaki, 2026. "Bending the curve: How nonlinear relationships between CDS spreads and default risk redefine Greece's sovereign debt story," The Journal of Economic Asymmetries, Elsevier, vol. 33(C).
    43. Thomas Brand & Fabien Tripier, 2014. "Risk shocks and divergence between the Euro area and the US," Working Papers 2014-11, CEPII research center.
    44. Lama, Ruy & Rabanal, Pau, 2014. "Deciding to enter a monetary union: The role of trade and financial linkages," European Economic Review, Elsevier, vol. 72(C), pages 138-165.
    45. Philip R. Lane, 2019. "Macrofinancial Stability and the Euro," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(3), pages 424-442, September.
    46. Cúrdia, Vasco & Woodford, Michael, 2016. "Credit Frictions and Optimal Monetary Policy," Journal of Monetary Economics, Elsevier, vol. 84(C), pages 30-65.
    47. Kobielarz, Michal, 2018. "The economics of monetary unions," Other publications TiSEM b0293536-68ec-4905-bffd-6, Tilburg University, School of Economics and Management.
    48. Della Posta, Pompeo, 2018. "Central bank intervention, public debt and interest rate target zones," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 311-323.
    49. 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.
    50. Faia, Ester, 2017. "Sovereign risk, bank funding and investors’ pessimism," Journal of Economic Dynamics and Control, Elsevier, vol. 79(C), pages 79-96.
    51. Borri, Nicola, 2019. "Redenomination-risk spillovers in the Eurozone," Economics Letters, Elsevier, vol. 174(C), pages 173-178.
    52. 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.
    53. 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.
    54. 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.
    55. Bevilaqua, Julia & Hale, Galina & Tallman, Eric, 2020. "Corporate Yields and Sovereign Yields," CEPR Discussion Papers 14344, Centre for Economic Policy Research.
    56. 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.
    57. 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.
    58. Pablo Anaya & Alex Pienkowski, 2015. "What Really Drives Public Debt: A Holistic Approach," IMF Working Papers 2015/137, International Monetary Fund.
    59. Tsiaras, Stylianos, 2023. "Asset purchases, limited asset markets participation and inequality," Journal of Economic Dynamics and Control, Elsevier, vol. 154(C).
    60. 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).
    61. 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.
    62. Christian Grisse & Gisle J. Natvik, 2018. "Sovereign debt crises and cross-country assistance," Working Papers 2018-15, Swiss National Bank.
    63. Kriwoluzky, Alexander & Müller, Gernot & Wolf, Martin, 2015. "Exit expectations and debt crises in currency unions," CEPR Discussion Papers 10817, Centre for Economic Policy Research.
    64. Sergio de Ferra, 2017. "External Imbalances, Gross Capital Flows and Sovereign Debt Crises," 2017 Meeting Papers 726, Society for Economic Dynamics.
    65. 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.
    66. Cristina Badarau & F. Huart & I. Sangaré, 2021. "Macroeconomic and policy implications of eurobonds," Post-Print hal-03407523, HAL.
    67. Pompeo Della Posta, 2022. "The Revival of Target Zone Modeling," Open Economies Review, Springer, vol. 33(4), pages 775-805, September.

  3. Corsetti, Giancarlo & Müller, Gernot & Kuester, Keith & Meier, André, 2012. "Sovereign Risk, Fiscal Policy, and Macroeconomic Stability," CEPR Discussion Papers 8779, Centre for Economic Policy Research.

    Cited by:

    1. Lemoine, Matthieu & Lindé, Jesper, 2016. "Fiscal consolidation under imperfect credibility," European Economic Review, Elsevier, vol. 88(C), pages 108-141.
    2. 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.
    3. Caner, Mehmet & Fan, Qingliang & Grennes, Thomas, 2021. "Partners in debt: An endogenous non-linear analysis of the effects of public and private debt on growth," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 694-711.
    4. Frauke Schleer & Willi Semmler, 2014. "Financial Sector and Output Dynamics in the Euro Area: Non-linearities Reconsidered," SCEPA working paper series. 2014-5, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    5. Erica Perego, 2018. "Sovereign Risk and Asset Market Dynamics in the Euro Area," Working Papers 2018-18, CEPII research center.
    6. Mikkel Hermansen & Oliver Röhn, 2015. "Economic resilience: The usefulness of early warning indicators in OECD countries," OECD Economics Department Working Papers 1250, OECD Publishing.
    7. Philippe Andrade & Filippo Ferroni & Leonardo Melosi, 2025. "Higher-order Moment Inequality Restrictions for SVARs," Working Papers 25-3, Federal Reserve Bank of Boston.
    8. Lengnick, Matthias & Krug, Sebastian & Wohltmann, Hans-Werner, 2012. "Money creation and financial instability: An agent-based credit network approach," Economics Working Papers 2012-15, Christian-Albrechts-University of Kiel, Department of Economics.
    9. Markus Kirchner & Malte Rieth, 2021. "Sovereign Default Risk, Macroeconomic Fluctuations and Monetary-Fiscal Stabilization," Discussion Papers of DIW Berlin 1966, DIW Berlin, German Institute for Economic Research.
    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. Jappelli, Ruggero & Pelizzon, Loriana & Plazzi, Alberto, 2021. "The core, the periphery, and the disaster: Corporate-sovereign nexus in COVID-19 times," SAFE Working Paper Series 331, Leibniz Institute for Financial Research SAFE.
    12. Philippopoulos, Apostolis & Varthalitis, Petros & Vassilatos, Vanghelis, 2017. "Fiscal consolidation and its cross-country effects," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 55-106.
    13. Vanessa Kunzmann, 2023. "Estimating Regime Dependent Fiscal Spillover Effects in a Monetary Union," Working Papers 227, Bavarian Graduate Program in Economics (BGPE).
    14. Lorenzo Burlon & Alberto Locarno & Alessandro Notarpietro & Massimiliano Pisani, 2017. "Public investment and monetary policy stance in the euro area," Temi di discussione (Economic working papers) 1150, Bank of Italy, Economic Research and International Relations Area.
    15. Gadatsch, Niklas & Hauzenberger, Klemens & Stähler, Nikolai, 2015. "German and the rest of euro area fiscal policy during the crisis," Discussion Papers 05/2015, Deutsche Bundesbank.
    16. 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 ?," Sciences Po Economics Publications (main) hal-01143545, HAL.
    17. Zapata Quimbayo, Carlos Andrés & Chamorro Narváez, Raúl Alberto, 2025. "Fiscal asymmetries under a debt consolidation strategy: Evidence from Colombia," The Journal of Economic Asymmetries, Elsevier, vol. 31(C).
    18. Bergin, Adele & Conefrey, Thomas & FitzGerald, John & Kearney, Ide & Znuderl, Nusa, 2013. "The HERMES-13 macroeconomic model of the Irish economy," Papers WP460, Economic and Social Research Institute (ESRI).
    19. Mingyang Zhang & Zhiqiang Xia, 2026. "Unveiling the complex tapestry of China’s carbon policy: an innovative topic-network-prediction framework," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 13(1), pages 1-20, December.
    20. Patrick Fève & Olivier Pierrard, 2017. "Financial Regulation and Shadow Banking: A Small-Scale DSGE Perspective," BCL working papers 111, Central Bank of Luxembourg.
    21. Javier Bianchi & Guido Lorenzoni, 2021. "The Prudential Use of Capital Controls and Foreign Currency Reserves," Working Papers 787, Federal Reserve Bank of Minneapolis.
    22. Dissou, Yazid & Ma, Sicong, 2026. "Public investment and real exchange rate dynamics: The role of public capital productivity," Economic Modelling, Elsevier, vol. 155(C).
    23. Ryan Niladri Banerjee & Fabrizio Zampolli, 2016. "What drives the short-run costs of fiscal consolidation? Evidence from OECD countries," BIS Working Papers 553, Bank for International Settlements.
    24. Philippe Martin & Thomas Philippon, 2014. "Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone," NBER Working Papers 20572, National Bureau of Economic Research, Inc.
    25. Stefan Niemann & Paul Pichler, 2020. "Optimal fiscal policy and sovereign debt crises," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 234-254, July.
    26. Blot, Christophe & Ducoudré, Bruno & Timbeau, Xavier, 2016. "Sovereign debt spread and default in a model with self-fulfilling prophecies and asymmetric information," Journal of Macroeconomics, Elsevier, vol. 47(PB), pages 281-299.
    27. Huixin Bi & Wenyi Shen & Shu‐Chun S. Yang, 2022. "Fiscal implications of interest rate normalization in the United States," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(2), pages 868-904, May.
    28. 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," LEAP Working Papers 2017/4, Luiss Institute for European Analysis and Policy.
    29. Bańkowski, Krzysztof & Christoffel, Kai & Faria, Thomas, 2021. "Assessing the fiscal-monetary policy mix in the euro area," Working Paper Series 2623, European Central Bank.
    30. Shigeto Kitano & Kenya Takaku, 2016. "External Debt and Taylor Rules in a Small Open Economy," Pacific Economic Review, Wiley Blackwell, vol. 21(5), pages 541-559, December.
    31. Diniz, Andre & Guimaraes, Bernardo, 2017. "How diabolic is the sovereign-bank loop? The effects of post-default fiscal policies," LSE Research Online Documents on Economics 86169, London School of Economics and Political Science, LSE Library.
    32. Coimbra, Nuno, 2020. "Sovereigns at risk: A dynamic model of sovereign debt and banking leverage," Journal of International Economics, Elsevier, vol. 124(C).
    33. Forni, L. & Pisani, M., 2018. "Sovereign Restructuring Vs. Fiscal Adjustment In A Monetary Union: Macroeconomic Effects From Model-Based Simulations," Macroeconomic Dynamics, Cambridge University Press, vol. 22(2), pages 470-500, March.
    34. FitzGerald, John & Kearney, Ide & Bergin, Adele & Conefrey, Thomas & Duffy, David & Timoney, Kevin & Znuderl, Nusa, 2013. "Medium-Term Review: 2013-2020, No. 12," Forecasting Report, Economic and Social Research Institute (ESRI), number MTR12, December.
    35. Tomas Adam & Oxana Babecka Kucharcukova & Jan Babecky & Vojtech Belling & Sona Benecka & Jan Bruha & Kamil Galuscak & Tomas Holub & Eva Hromadkova & Lubos Komarek & Zlatuse Komarkova & Kamila Kulhava , 2015. "Analyses of the Czech Republic's Current Economic Alignment with the Euro Area 2015," Occasional Publications - Edited Volumes, Czech National Bank, Research and Statistics Department, number as15 edited by Kamila Kulhava & Lucie Matejkova.
    36. Niklas Gadatsch & Josef Hollmayr & Nikolai Stähler, 2019. "Thoughts on a Fiscal Union in EMU," German Economic Review, Verein für Socialpolitik, vol. 20(4), pages 360-384, November.
    37. Schwarzmüller, Tim & Wolters, Maik H., 2015. "The Macroeconomic Effects of Fiscal Consolidation in Dynamic General Equilibrium," Dynare Working Papers 43, CEPREMAP.
    38. Dimitris Papageorgiou & Evangelia Vourvachaki, 2015. "The Macroeconomic Impact of Structural Reforms in Product and Labour Markets: Trade-Offs and Complementarities," Working Papers 197, Bank of Greece.
    39. Javier Andrés & Óscar Arce & Carlos Thomas, 2016. "When fiscal consolidation meets private deleveraging," Working Papers 1622, Banco de España.
    40. Nicoletta Batini & Giovanni Melina & Stefania Villa, 2018. "Fiscal buffers, private debt and recession: the good, the bad and the ugly," Temi di discussione (Economic working papers) 1186, Bank of Italy, Economic Research and International Relations Area.
    41. Corsetti, Giancarlo & Dedola, Luca & Jarocinski, Marek & Mackowiak, Bartosz & Schmidt, Sebastian, 2017. "Macroeconomic Stabilization, Monetary-Fiscal Interactions, and Europe’s Monetary Union," CEPR Discussion Papers 12371, Centre for Economic Policy Research.
    42. 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.
    43. 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.
    44. Zuzana Mucka & Michal Horvath, 2015. "Fiscal Policy Matters A New DSGE Model for Slovakia," Discussion Papers Discussion Paper No. 1/20, Council for Budget Responsibility.
    45. Semmler, Willi & Haider, Alexander, 2015. "The perils of debt deflation in the euro area: A multi regime model," ZEW Discussion Papers 15-071, ZEW - Leibniz Centre for European Economic Research.
    46. Zheng, Suwen & Ye, Chunhui, 2021. "Positive Effect of Village Debt on Land Transfer: Evidence from County-level Panel Data of Village Finance in Zhejiang Province," 2021 Conference, August 17-31, 2021, Virtual 315412, International Association of Agricultural Economists.
    47. Xiaoshan Chen & Spyridon Lazarakis & Petros Varthalitis, 2025. "Debt targets and fiscal consolidation in a Euro Area HANK model," Quantitative Economics, Econometric Society, vol. 16(4), pages 1321-1359, November.
    48. 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.
    49. Javier Bianchi & Pablo Ottonello & Ignacio Presno, 2019. "Fiscal Stimulus Under Sovereign Risk," International Finance Discussion Papers 1257, Board of Governors of the Federal Reserve System (U.S.).
    50. Barbara Annicchiarico & Fabio Di Dio & Stefano Patrì, 2023. "Optimal correction of the public debt and measures of fiscal soundness," Metroeconomica, Wiley Blackwell, vol. 74(1), pages 138-162, February.
    51. 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).
    52. de Blas, Beatriz & Malmierca, María, 2020. "Financial frictions and stabilization policies," Economic Modelling, Elsevier, vol. 89(C), pages 166-188.
    53. Berg Tim Oliver, 2015. "Time Varying Fiscal Multipliers in Germany," Review of Economics, De Gruyter, vol. 66(1), pages 13-46, April.
    54. 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.
    55. Rojas, Luis E. & Thaler, Dominik, 2024. "The bright side of the doom loop: Banks’ sovereign exposure and default incentives," European Economic Review, Elsevier, vol. 170(C).
    56. Gergő Motyovszki & Philipp Pfeiffer & Jan in ’t Veld, 2024. "The Implications of Public Investment for Debt Sustainability," European Economy - Discussion Papers 204, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    57. González-Astudillo, Manuel & Guerra-Salas, Juan & Lipton, Avi, 2026. "Fiscal consolidations in commodity-exporting countries: A small open economy DSGE perspective," Economic Modelling, Elsevier, vol. 163(C).
    58. Hristov, Atanas, 2013. "The Effects of Fiscal Policy on Consumption in Good and Bad Times," MPRA Paper 44658, University Library of Munich, Germany.
    59. 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).
    60. 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.
    61. Darracq Pariès, Matthieu & Papadopoulou, Niki & Müller, Georg, 2020. "Fiscal multipliers with financial fragmentation risk and interactions with monetary policy," Working Paper Series 2418, European Central Bank.
    62. Philippe Andrade & Filippo Ferroni & Leonardo Melosi, 2023. "Identification Using Higher-Order Moments Restrictions," Working Paper Series WP 2023-28, Federal Reserve Bank of Chicago.
    63. Daniel Broby & Raphael Faessler & Milenko Josavac & Christophe Dehut, 2016. "The Impact of the (2011) Devaluation of the Swiss Franc on Eurozone Equity Benchmark Diversification," International Journal of Economics and Financial Issues, International Journal of Economics and Financial Issues, vol. 6(3), pages 1270-1286.
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    8. Alberto Botta, 2013. "Conflicting Claims in the Eurozone? Austerity’s Myopia and the Need for a European Federal Union in a post-Keynesian Eurozone Center-Periphery Model," STOREPapers 11_2013, Associazione Italiana per la Storia dell'Economia Politica - StorEP.
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  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.

    Cited by:

    1. Ritschl, Albrecht, 2012. "Reparations, deficits, and debt default: the Great Depression in Germany," Economic History Working Papers 44335, London School of Economics and Political Science, Department of Economic History.
    2. 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, February.
    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. 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).
    5. 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.

  6. Corsetti, Giancarlo & Müller, Gernot & Kuester, Keith & Meier, André, 2010. "Debt consolidation and fiscal stabilization of deep recessions," CEPR Discussion Papers 7649, Centre for Economic Policy Research.

    Cited by:

    1. Eric Amoo Bondzie & William Godfred Cantah & Ferdinand Ahiakpor & William Gabriel Brafu-Insaidoo, 2026. "Fiscal multipliers and informality in sub-Saharan Africa," International Economics and Economic Policy, Springer, vol. 23(1), pages 1-34, February.
    2. 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.
    3. 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.
    4. 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.
    5. Borsi, Mihály Tamás, 2018. "Fiscal multipliers across the credit cycle," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 135-151.
    6. 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.
    7. 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.
    8. 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.
    9. 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).
    10. 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.
    11. 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.
    12. Tapsoba, Sampawende J.-A., 2014. "Options and strategies for fiscal consolidation in India," Economic Modelling, Elsevier, vol. 43(C), pages 225-237.
    13. Gomes, S. & Jacquinot, P. & Mestre, R. & Sousa, J., 2015. "Global policy at the zero lower bound in a large-scale DSGE model," Journal of International Money and Finance, Elsevier, vol. 50(C), pages 134-153.
    14. Evans, George W. & Honkapohja, Seppo & Mitra, Kaushik, 2016. "Expectations, Stagnation and Fiscal Policy," CEPR Discussion Papers 11428, Centre for Economic Policy Research.
    15. Javier Andrés & Óscar Arce & Carlos Thomas, 2016. "When fiscal consolidation meets private deleveraging," Working Papers 1622, Banco de España.
    16. 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.
    17. 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.
    18. Eric Mayer & Sebastian Rüth & Johann Scharler, 2012. "Government debt, inflation dynamics and the transmission of fiscal policy shocks," Working Papers 2012-05, Faculty of Economics and Statistics, Universität Innsbruck.
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    21. 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.
    22. 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.
    23. 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.
    24. Magdalena Tutak & Jarosław Brodny, 2026. "Towards a secure and innovative Europe: evidence-based insights on development divergence in the EU-27," The Journal of Technology Transfer, Springer, vol. 51(4), pages 2696-2730, August.
    25. Bjørnskov, Christian, 2016. "Economic freedom and economic crises," European Journal of Political Economy, Elsevier, vol. 45(S), pages 11-23.
    26. 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.
    27. 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.
    28. 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.
    29. Born, Benjamin & Müller, Gernot J. & Pfeifer, Johannes, 2015. "Does austerity pay off?," SAFE Working Paper Series 77, Leibniz Institute for Financial Research SAFE, revised 2015.
    30. 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.
    31. 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.
    32. Merola, Rossana, 2010. "Financial frictions and the zero lower bound on interest rates: a DSGE analysis," MPRA Paper 29365, University Library of Munich, Germany.
    33. 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.
    34. 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.
    35. Ms. Wenyi Shen & Ms. Susan S. Yang & Luis-Felipe Zanna, 2015. "Government Spending Effects in Low-income Countries," IMF Working Papers 2015/286, International Monetary Fund.
    36. 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).
    37. 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.
    38. Gianluca Cafiso & Roberto Cellini, 2013. "Fiscal Consolidations and Public Debt in Europe," Working Papers 2013-35, CEPII research center.
    39. 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.
    40. 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.
    41. Wu, Yanrui, 2014. "Local government debt and economic growth in China," BOFIT Discussion Papers 20/2014, Bank of Finland Institute for Emerging Economies (BOFIT).
    42. Roberto Tamborini, 2024. "Good Debt or Bad Debt?," CESifo Working Paper Series 11503, CESifo.
    43. 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.
    44. 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.
    45. 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.
    46. Yasuharu Iwata, 2011. "The Government Spending Multiplier and Fiscal Financing: Insights from Japan," International Finance, Wiley Blackwell, vol. 14(2), pages 231-264, June.
    47. 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.
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    49. 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.
    50. Papageorgiou, Dimitris, 2012. "Fiscal policy reforms in general equilibrium: The case of Greece," Journal of Macroeconomics, Elsevier, vol. 34(2), pages 504-522.
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    67. 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.
    68. 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.
    69. 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.
    70. James S. Cloyne & Òscar Jordà & Alan M. Taylor, 2020. "Decomposing the Fiscal Multiplier," NBER Working Papers 26939, National Bureau of Economic Research, Inc.
    71. Jacopo Cimadomo & Sebastian Hauptmeier & Sergio Sola, 2011. "Identifying the Effects of Government Spending Shocks with and without Expected Reversal: an Approach Based on U.S. Real-Time Data," IHEID Working Papers 12-2011, Economics Section, The Graduate Institute of International Studies.
    72. 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.
    73. Giancarlo Corsetti & Keith Kuester & Gernot J. Müller, 2011. "Floats, pegs and the transmission of fiscal policy," Working Papers 11-9, Federal Reserve Bank of Philadelphia.
    74. 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.
    75. 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).
    76. 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.
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    83. 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.
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    Cited by:

    1. Oguz Atuk & Cem Aysoy & Mustafa Utku Ozmen & Cagri Sarikaya, 2014. "Turkiye�de Enflasyonun Is Cevrimlerine Duyarliligi : Cikti Acigina Duyarli TUFE Alt Gruplarinin Saptanmasi," Working Papers 1437, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    2. Fröhling, Annette & Lommatzsch, Kirsten, 2011. "Output sensitivity of inflation in the euro area: Indirect evidence from disaggregated consumer prices," Discussion Paper Series 1: Economic Studies 2011,25, Deutsche Bundesbank.
    3. Döhrn, Roland & Barabas, György & Gebhardt, Heinz & Kitlinski, Tobias & Micheli, Martin & Schmidt, Torsten & Vosen, Simeon & Zimmermann, Lina, 2010. "Die wirtschaftliche Entwicklung im Inland: Aufschwung verliert an Fahrt," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 61(2), pages 37-82.
    4. Roberto Duncan & Enrique Martínez García, 2018. "New Perspectives on Forecasting Inflation in Emerging Market Economies: An Empirical Assessment," Globalization Institute Working Papers 338, Federal Reserve Bank of Dallas.
    5. Juan Carlos Berganza & Pedro del Río & Fructuoso Borrallo, 2016. "Determinants and implications of low global inflation rates," Occasional Papers 1608, Banco de España.
    6. Adam S. Posen, 2010. "The Central Banker's Case for Doing More," Policy Briefs PB10-24, Peterson Institute for International Economics.
    7. Jaromir Baxa & Miroslav Plasil & Borek Vasicek, 2013. "Inflation and the Steeplechase Between Economic Activity Variables," Working Papers 2013/15, Czech National Bank, Research and Statistics Department.
    8. James Morley & Irina B Panovska, 2017. "Is Business Cycle Asymmetry Intrinsic in Industrialized Economies?," Discussion Papers 2016-12A, School of Economics, The University of New South Wales.
    9. Döhrn, Roland & an de Meulen, Philipp & Kitlinski, Tobias & Schmidt, Torsten & Vosen, Simeon, 2010. "Die wirtschaftliche Entwicklung im Ausland: Der erste Schwung ist vorüber," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 61(2), pages 5-36.
    10. Faust, Jon & Wright, Jonathan H., 2013. "Forecasting Inflation," Handbook of Economic Forecasting, in: G. Elliott & C. Granger & A. Timmermann (ed.), Handbook of Economic Forecasting, edition 1, volume 2, chapter 0, pages 2-56, Elsevier.
    11. Diego Moccero & Shingo Watanabe & Boris Cournède, 2011. "What Drives Inflation in the Major OECD Economies?," OECD Economics Department Working Papers 854, OECD Publishing.
    12. James H. Stock & Mark W. Watson, 2010. "Modeling Inflation After the Crisis," Working Papers 2010-1, Princeton University. Economics Department..
    13. A. Stevens, 2013. "What inflation developments reveal about the Phillips curve: implications for monetary policy," Economic Review, National Bank of Belgium, issue iii, pages 67-76, December.
    14. James H. Stock & Mark W. Watson, 2010. "Modeling Inflation After the Crisis," NBER Working Papers 16488, National Bureau of Economic Research, Inc.
    15. James Morley, 2014. "Measuring Economic Slack: A Forecast-Based Approach with Applications to Economies in Asia and the Pacific," BIS Working Papers 451, Bank for International Settlements.
    16. Frank Smets, 2010. "Commetary: modeling inflation after the crisis," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 221-234.

  8. Corsetti, Giancarlo & Müller, Gernot & Meier, André, 2009. "Fiscal Stimulus with spending reversals," CEPR Discussion Papers 7302, Centre for Economic Policy Research.

    Cited by:

    1. Lemoine, Matthieu & Lindé, Jesper, 2016. "Fiscal consolidation under imperfect credibility," European Economic Review, Elsevier, vol. 88(C), pages 108-141.
    2. Wang, Shu-Ling, 2021. "Fiscal stimulus in a high-debt economy? A DSGE analysis," Economic Modelling, Elsevier, vol. 98(C), pages 118-135.
    3. Forni, Mario & Gambetti, Luca, 2016. "Government spending shocks in open economy VARs," Journal of International Economics, Elsevier, vol. 99(C), pages 68-84.
    4. Alberto Alesina & Gualtiero Azzalini & Carlo Favero & Francesco Giavazzi & Armando Miano, 2016. "Is it the "How" or the "When" that Matters in Fiscal Adjustments?," NBER Working Papers 22863, National Bureau of Economic Research, Inc.
    5. Guimaraes, Bernardo & Ladeira, Carlos Eduardo, 2017. "The determinants of IMF fiscal conditionalities: economics or politics?," LSE Research Online Documents on Economics 86171, London School of Economics and Political Science, LSE Library.
    6. Karamysheva, Madina, 2022. "How do fiscal adjustments work? An empirical investigation," Journal of Economic Dynamics and Control, Elsevier, vol. 137(C).
    7. Giavazzi, Francesco & Favero, Carlo A., 2010. "Reconciling VAR-based and Narrative Measures of the Tax-Multiplier," CEPR Discussion Papers 7769, Centre for Economic Policy Research.
    8. Brendon Riches, 2022. "Fiscal and monetary policy interaction at the effective lower bound," Treasury Analytical Notes Series an22/01, New Zealand Treasury.
    9. 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.
    10. Luigi Marattin & Arsen Palestini, 2014. "Government spending under non-separability: a theoretical analysis," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 61(1), pages 39-60, April.
    11. Massimiliano Castellani & Luca Fanelli & Marco Savioli, 2013. "Government Fiscal Efforts vs. Labour Union Strikes: It Takes Two to Tango," Working Paper series 33_13, Rimini Centre for Economic Analysis, revised Jan 2014.
    12. Angeloni, Ignazio & Faia, Ester & Winkler, Roland C., 2010. "Exit strategies," CFS Working Paper Series 2010/25, Center for Financial Studies (CFS).
    13. Ritschl, Albrecht, 2012. "Reparations, deficits, and debt default: the Great Depression in Germany," Economic History Working Papers 44335, London School of Economics and Political Science, Department of Economic History.
    14. Fotiou, Alexandra & Shen, Wenyi & Yang, Shu-Chun S., 2020. "The fiscal state-dependent effects of capital income tax cuts," Journal of Economic Dynamics and Control, Elsevier, vol. 117(C).
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    17. Dissou, Yazid & Ma, Sicong, 2026. "Public investment and real exchange rate dynamics: The role of public capital productivity," Economic Modelling, Elsevier, vol. 155(C).
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    22. Carlo Favero & Francesco Giavazzi & Jacopo Perego, 2011. "Country Heterogeneity and the International Evidence on the Effects of Fiscal Policy," NBER Working Papers 17272, National Bureau of Economic Research, Inc.
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    48. Igor Vetlov & Ricardo Mourinho Félix & Laure Frey & Tibor Hlédik & Zoltán Jakab & Niki Papadopoulou & Lukas Reiss & Martin Schneider, 2010. "The Implementation of Scenarios Using DSGE Models," Bank of Lithuania Working Paper Series 8, Bank of Lithuania.
    49. Charles T. Carlstrom & Timothy S. Fuerst & Matthias Paustian, 2012. "Fiscal multipliers under an interest rate peg of deterministic vs. stochastic duration," Working Papers (Old Series) 1235, Federal Reserve Bank of Cleveland.
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    59. Christian Bredemeier & Falko Juessen & Andreas Schabert, 2021. "Why Are Fiscal Multipliers Moderate Even Under Monetary Accommodation?," ECONtribute Discussion Papers Series 074, University of Bonn and University of Cologne, Germany.
    60. 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.
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    Cited by:

    1. Paolo Fegatelli, 2010. "The role of collateral requirements in the crisis: one tool for two objectives?," BCL working papers 44, Central Bank of Luxembourg.
    2. De Santis, Roberto A., 2020. "Impact of the Asset Purchase Programme on euro area government bond yields using market news," Economic Modelling, Elsevier, vol. 86(C), pages 192-209.
    3. Aït-Sahalia, Yacine & Andritzky, Jochen & Jobst, Andreas & Nowak, Sylwia & Tamirisa, Natalia, 2012. "Market response to policy initiatives during the global financial crisis," Journal of International Economics, Elsevier, vol. 87(1), pages 162-177.
    4. Christopher Martin & Costas Milas, 2012. "Quantitative Easing: A Sceptical Survey," Working Paper series 73_12, Rimini Centre for Economic Analysis.
    5. L. Gambacorta & B. Hofmann & G. Peersman, 2011. "The Effectiveness of Unconventional Monetary Policy at the Zero Lower Bound: A Cross-Country Analysis," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 11/765, Ghent University, Faculty of Economics and Business Administration.
    6. Michael Joyce & David Miles & Andrew Scott & Dimitri Vayanos, 2012. "Quantitative Easing and Unconventional Monetary Policy – an Introduction," Economic Journal, Royal Economic Society, vol. 122(564), pages 271-288, November.
    7. Heike Schenkelberg & Sebastian Watzka, 2011. "Real Effects of Quantitative Easing at the Zero-Lower Bound: Structural VAR-based Evidence from Japan," CESifo Working Paper Series 3486, CESifo.
    8. Franck Martin & Jiangxingyun Zhang, 2017. "Impact of QE on European sovereign bond market," Economics Working Paper Archive (University of Rennes & University of Caen) 2017-04, Center for Research in Economics and Management (CREM), University of Rennes, University of Caen and CNRS.
    9. John C. Williams, 2009. "Heeding Daedalus: Optimal inflation and the zero lower bound," Working Paper Series 2009-23, Federal Reserve Bank of San Francisco.
    10. Hess T. Chung & Jean-Philippe Laforte & David L. Reifschneider & John C. Williams, 2011. "Have we underestimated the likelihood and severity of zero lower bound events?," Working Paper Series 2011-01, Federal Reserve Bank of San Francisco.
    11. Jean Pisani-Ferry & Jakob von Weizsäcker & Jürgen von Hagen, 2009. "A European Exit Strategy," Bruegel Policy Brief 328, Bruegel.
    12. Gaël Giraud, 2010. "Financial crashes versus liquidity trap : the dilemma of monetary policy," Post-Print halshs-00657047, HAL.
    13. Rui Wang, 2021. "Evaluating the Unconventional Monetary Policy of the Bank of Japan: A DSGE Approach," JRFM, MDPI, vol. 14(6), pages 1-18, June.
    14. Marek Belka & Jens Thomsen & Kim Abildgren & Pietro Catte & Pietro Cova & Patrizio Pagano & Ignazio Visco & Petar Chobanov & Amine Lahiani & Nikolay Nenovsky & Cristina Badarau & Grégory Levieuge & To, 2011. "Monetary Policy after the Crisis," SUERF Studies, SUERF - The European Money and Finance Forum, number 2011/3 edited by Ernest Gnan, & Ryszard Kokoszczynski & Tomasz Lyziak & Robert McCauley, January-J.
    15. Jürgen von Hagen, 2009. "The monetary mechanics of the crisis," Bruegel Policy Contributions 320, Bruegel.
    16. Teodora Cristina Barbu & Iustina Boitan, 2012. "Central Banks' Response to the Current Financial Crisis Between Costs and Benefits," International Journal of Economics and Financial Issues, International Journal of Economics and Financial Issues, vol. 2(1), pages 12-20.
    17. Luca Agnello & Vitor Castro & Gilles Dufrénot & Fredj Jawadi & Ricardo Sousa, 2020. "Unconventional monetary policy reaction functions: evidence from the US," Post-Print hal-03101417, HAL.
    18. Serag Masoud & Murad A. Bein & Wagdi Khalifa, 2022. "Examining the relationship between unconventional monetary policy and exchange rate movements: Empirical evidence from United States quantitative easing," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 3444-3458, July.
    19. Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015. "The QE experience: Worth a try?," Post-Print hal-03459951, HAL.
    20. De Santis, Roberto A. & Holm-Hadulla, Fédéric, 2017. "Flow effects of central bank asset purchases on euro area sovereign bond yields: evidence from a natural experiment," Working Paper Series 2052, European Central Bank.
    21. Corsetti, Giancarlo & Müller, Gernot, 2012. "Multilateral economic cooperation and the international transmission of fiscal policy," CEPR Discussion Papers 8748, Centre for Economic Policy Research.
    22. Petra Gerlach-Kristen, 2015. "The impact of ECB crisis measures on euro-area CDS spreads," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 29(2), pages 149-168, May.
    23. Martin Daines & Michael Joyce & Matthew Tong, 2012. "QE and the gilt market: a disaggregated analysis," Bank of England Staff Working Paper series 466, Bank of England.
    24. Kotaro Ishi & Mr. Kenji Fujita & Mr. Mark R. Stone, 2011. "Should Unconventional Balance Sheet Policies Be Added to the Central Bank toolkit? a Review of the Experience so Far," IMF Working Papers 2011/145, International Monetary Fund.
    25. Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015. "Que peut-on attendre de l’assouplissement quantitatif de la BCE ?," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(2), pages 265-290.
    26. Baneng Naape & Marius Masoga, 2020. "An Address of the Global Financial Crises with Unconventional Monetary Policies," Journal of Economics and Behavioral Studies, AMH International, vol. 11(6), pages 23-31.
    27. Nicole Aregger & Jessica Leutert, 2017. "Unconventional Monetary Policy under Appreciation Pressure - The Role of Financial Frictions," Working Papers 17.03, Swiss National Bank, Study Center Gerzensee.
    28. José Dorich & Nicholas Labelle & Vadym Lepetyuk & Rhys R. Mendes, 2018. "Could a Higher Inflation Target Enhance Macroeconomic Stability?," Staff Working Papers 18-17, Bank of Canada.
    29. Steeley, James M., 2015. "The side effects of quantitative easing: Evidence from the UK bond market," Journal of International Money and Finance, Elsevier, vol. 51(C), pages 303-336.
    30. Marius Constantin APOSTOAIE & Stefan MATEI, 2012. "Mutations at the Level of the Measures Adopted by Monetary Authorities," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 2, pages 53-60.
    31. Chen, Haixia & Le, Vo Phuong Mai & Meenagh, David & Minford, Patrick, 2023. "UK Monetary Policy in An Estimated DSGE Model with State-Dependent Price and Wage Contracts," Cardiff Economics Working Papers E2023/22, Cardiff University, Cardiff Business School, Economics Section.
    32. Richard Harrison, 2012. "Asset purchase policy at the effective lower bound for interest rates," Bank of England Staff Working Paper series 444, Bank of England.
    33. Shogbuyi, Abiodun & Steeley, James M., 2017. "The effect of quantitative easing on the variance and covariance of the UK and US equity markets," International Review of Financial Analysis, Elsevier, vol. 52(C), pages 281-291.
    34. Smith, Ariel, 2020. "The United Kingdom's Asset Purchase Program (U.K. GFC)," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 2(3), pages 437-458, April.
    35. Zsolt Darvas & Jean Pisani-Ferry, 2010. "The Threat of 'Currency Wars': a European Perspective," Working Papers 1006, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest.
    36. Gert Peersman, 2012. "Effectiveness of Unconventional Monetary Policy at the Zero Lower Bound," 2012 Meeting Papers 400, Society for Economic Dynamics.
    37. Francis Breedon & Jagjit S. Chadha & Alex Water, 2012. "The Financial Market Impact of UK Quantitative Easing," Working Papers 696, Queen Mary University of London, School of Economics and Finance.
    38. Charles Bean, 2010. "Joseph Schumpeter Lecture The Great Moderation, The Great Panic, and The Great Contraction," Journal of the European Economic Association, MIT Press, vol. 8(2-3), pages 289-325, 04-05.
    39. Clements A.Akinsoyinu, 2015. "The Great Financial Crisis: How Effective is Macroeconomic Policy Response in the United Kingdom?," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 4(2), pages 01-10, April.
    40. Jagjit Chadha, 2016. "The New Art of Central Banking," National Institute of Economic and Social Research (NIESR) Discussion Papers 472, National Institute of Economic and Social Research.
    41. Marco Casiraghi & Eugenio Gaiotti & Lisa Rodano & Alessandro Secchi, 2013. "The impact of unconventional monetary policy on the Italian economy during the sovereign debt crisis," Questioni di Economia e Finanza (Occasional Papers) 203, Bank of Italy, Economic Research and International Relations Area.
    42. Chadha, Jagjit S. & Waters, Alex, 2014. "Applying a macro-finance yield curve to UK quantitative Easing," Journal of Banking & Finance, Elsevier, vol. 39(C), pages 68-86.
    43. Urszula Szczerbowicz, 2011. "Are Unconventional Monetary Policies Effective?," Working Papers CELEG 1107, Dipartimento di Economia e Finanza, LUISS Guido Carli.
    44. Gaël Giraud & Antonin Pottier, 2016. "Debt-deflation versus the liquidity trap: the dilemma of nonconventional monetary policy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 62(1), pages 383-408, June.
    45. Dumitriu, Ramona & Stefanescu, Razvan, 2013. "Provocările politicii monetare [Monetary policy challenges]," MPRA Paper 50261, University Library of Munich, Germany, revised 28 Sep 2013.
    46. Qianying Chen & Andrew Filardo & Dong He & Feng Zhu, 2012. "International spillovers of central bank balance sheet policies," BIS Papers chapters, in: Bank for International Settlements (ed.), Are central bank balance sheets in Asia too large?, volume 66, pages 220-264, Bank for International Settlements.
    47. Roberto A. De Santis & Fédéric Holm‐Hadulla, 2020. "Flow Effects of Central Bank Asset Purchases on Sovereign Bond Prices: Evidence from a Natural Experiment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(6), pages 1467-1491, September.
    48. Moumita Paul & Kalluru Siva Reddy, 2022. "US QE and the Indian Bond Market," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 20(1), pages 137-157, March.
    49. Agnès Bénassy-Quéré & Benoît Coeuré & Pierre Jacquet & Jean Pisani-Ferry, 2009. "The Crisis: Policy Lessons and Policy Challenges," Working Papers 2009-28, CEPII research center.
    50. Charles R. Bean & Matthias Paustian & Adrian Penalver & Tim Taylor, 2010. "Monetary policy after the fall," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 267-328.
    51. Yacine Aït-Sahalia & Mr. Jochen R. Andritzky & Andreas Jobst & Sylwia Nowak & Ms. Natalia T. Tamirisa, 2009. "How to Stop a Herd of Running Bears? Market Response to Policy Initiatives during the Global Financial Crisis," IMF Working Papers 2009/204, International Monetary Fund.
    52. Christiane Baumeister & Luca Benati, 2012. "Unconventional Monetary Policy and the Great Recession: Estimating the Macroeconomic Effects of a Spread Compression at the Zero Lower Bound," Staff Working Papers 12-21, Bank of Canada.
    53. Dimitris Malliaropulos & Petros Migiakis, 2018. "Quantitative easing and sovereign bond yields: a global perspective," Working Papers 253, Bank of Greece.
    54. Falagiarda, Matteo & Reitz, Stefan, 2013. "Announcements of ECB unconventional programs: Implications for the sovereign risk of Italy," Kiel Working Papers 1866, Kiel Institute for the World Economy.
    55. De Santis, Roberto A. & Stein, Michael, 2016. "Correlation changes between the risk-free rate and sovereign yields of euro area countries," Working Paper Series 1979, European Central Bank.
    56. Falagiarda, Matteo & Reitz, Stefan, 2015. "Announcements of ECB unconventional programs: Implications for the sovereign spreads of stressed euro area countries," Journal of International Money and Finance, Elsevier, vol. 53(C), pages 276-295.
    57. Baumeister, Christiane & Benati, Luca, 2010. "Unconventional monetary policy and the great recession - Estimating the impact of a compression in the yield spread at the zero lower bound," Working Paper Series 1258, European Central Bank.
    58. Steeley, James M. & Matyushkin, Alexander, 2015. "The effects of quantitative easing on the volatility of the gilt-edged market," International Review of Financial Analysis, Elsevier, vol. 37(C), pages 113-128.
    59. George Kapetanios & Haroon Mumtaz & Ibrahim Stevens & Konstantinos Theodoridis, 2012. "Assessing the economy-wide effects of quantitative easing," Bank of England Staff Working Paper series 443, Bank of England.
    60. Peter J. Morgan, 2012. "The Role and Effectiveness of Unconventional Monetary Policy," Chapters, in: Masahiro Kawai & Peter J. Morgan & Shinji Takagi (ed.), Monetary and Currency Policy Management in Asia, chapter 2, Edward Elgar Publishing.
    61. Bank for International Settlements, 2012. "Threat of fiscal dominance?," BIS Papers, Bank for International Settlements, number 65, November.
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    63. Gerlach, Petra, 2013. "Euro area CDS spreads in the crisis: The role of open market operations and contagion," Papers WP449, Economic and Social Research Institute (ESRI).
    64. Claudio Borio & Piti Disyatat, 2009. "Unconventional monetary policies: an appraisal," BIS Working Papers 292, Bank for International Settlements.
    65. Marco Casiraghi & Eugenio Gaiotti & Lisa Rodano & Alessandro Secchi, 2016. "ECB Unconventional Monetary Policy and the Italian Economy during the Sovereign Debt Crisis," International Journal of Central Banking, International Journal of Central Banking, vol. 12(2), pages 269-315, June.
    66. Michael A. S. Joyce & Ana Lasaosa & Ibrahim Stevens & Matthew Tong, 2011. "The Financial Market Impact of Quantitative Easing in the United Kingdom," International Journal of Central Banking, International Journal of Central Banking, vol. 7(3), pages 113-161, September.
    67. Martin Wales & Tomasz Wieladek, 2015. "What are the macroeconomic effects of asset purchases?," Discussion Papers 42, Monetary Policy Committee Unit, Bank of England.
    68. Falagiarda, Matteo, 2013. "Evaluating Quantitative Easing: A DSGE Approach," MPRA Paper 49457, University Library of Munich, Germany.

  10. Corsetti, Giancarlo & Müller, Gernot & Meier, André, 2009. "Cross-border spillovers from fiscal stimulus," CEPR Discussion Papers 7535, Centre for Economic Policy Research.

    Cited by:

    1. Gadatsch, Niklas & Hauzenberger, Klemens & Stähler, Nikolai, 2015. "German and the rest of euro area fiscal policy during the crisis," Discussion Papers 05/2015, Deutsche Bundesbank.
    2. Umut UNAL, 2015. "Rethinking The Effects Of Fiscal Policy On Macroeconomic Aggregates: A Disaggregated Svar Analysis," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 120-135, September.
    3. Gagnon, Marie-Hélène & Gimet, Céline, 2013. "The impacts of standard monetary and budgetary policies on liquidity and financial markets: International evidence from the credit freeze crisis," Journal of Banking & Finance, Elsevier, vol. 37(11), pages 4599-4614.
    4. Volker Wieland, 2010. "Commentary: Fiscal Stimulus and the Promise of Future Spending Cuts," International Journal of Central Banking, International Journal of Central Banking, vol. 6(1), pages 39-50, March.
    5. Christoph Bierbrauer, 2017. "Fiscal policy transmission in a non-Ricardian model of a monetary union," IEER Working Papers 109, Institute of Empirical Economic Research, Osnabrueck University.
    6. Gadatsch, Niklas & Hauzenberger, Klemens & Stähler, Nikolai, 2016. "Fiscal policy during the crisis: A look on Germany and the Euro area with GEAR," Economic Modelling, Elsevier, vol. 52(PB), pages 997-1016.
    7. 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.
    8. Sebastian Gechert, 2013. "What fiscal policy is most effective? A Meta Regression Analysis," IMK Working Paper 117-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    9. 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.
    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. Faia, Ester & Lechthaler, Wolfgang & Merkl, Christian, 2010. "Fiscal multipliers and the labour market in the open economy," Kiel Working Papers 1592, Kiel Institute for the World Economy.
    12. Buiter, Willem H. & Sibert, Anne C., 2015. "Government deficits in large open economies: The problem of too little public debt," Economics Discussion Papers 2015-59, Kiel Institute for the World Economy.
    13. Lewis, Vivien & Winkler, Roland, 2015. "Fiscal policy and business formation in open economies," Research in Economics, Elsevier, vol. 69(4), pages 603-620.
    14. Carmignani, Fabrizio, 2015. "The international effect of US government expenditure," Economic Modelling, Elsevier, vol. 47(C), pages 63-73.
    15. Oriol Carreras & Iana Liadze & Simon Kirby & Rebecca Piggott, 2016. "Quantifying Fiscal Multipliers," National Institute of Economic and Social Research (NIESR) Discussion Papers 469, National Institute of Economic and Social Research.
    16. 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.
    17. 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.
    18. 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.
    19. Shafik Hebous, 2011. "The Effects Of Discretionary Fiscal Policy On Macroeconomic Aggregates: A Reappraisal," Journal of Economic Surveys, Wiley Blackwell, vol. 25(4), pages 674-707, September.
    20. Ippei Fujiwara & Kozo Ueda, 2010. "The fiscal multiplier and spillover in a global liquidity trap," Globalization Institute Working Papers 51, Federal Reserve Bank of Dallas.
    21. 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.
    22. Ilori, Ayobami E. & Paez-Farrell, Juan & Thoenissen, Christoph, 2022. "Fiscal policy shocks and international spillovers," European Economic Review, Elsevier, vol. 141(C).
    23. 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.
    24. Montinari, Letizia & Stracca, Livio, 2016. "Trade, finance or policies: What drives the cross-border spill-over of business cycles?," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 131-148.
    25. Degiannakis, Stavros & Duffy, David & Filis, George & Livada, Alexandra, 2014. "Business Cycle Synchronisation in EMU: Can Fiscal Policy Bring Member-Countries Closer?," MPRA Paper 67892, University Library of Munich, Germany.
    26. Romano, Simone, 2018. "Fiscal foresight: Do expectations have cross-border effects?," Journal of Macroeconomics, Elsevier, vol. 57(C), pages 71-82.
    27. Jeppe Druedahl & Søren Hove Ravn & Laura Sunder-Plassmann & Jacob Sundram & Nicolai Waldstrøm, 2025. "Fiscal Multipliers in Small Open Economies with Heterogeneous Households," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 73(3), pages 654-707, September.
    28. Oriol Carreras & Simon Kirby & Iana Liadze & Rebecca Piggott, 2016. "Fiscal Policy Spillovers," National Institute of Economic and Social Research (NIESR) Discussion Papers 468, National Institute of Economic and Social Research.
    29. Laurent Ferrara & Luca Metelli & Filippo Natoli & Daniele Siena, 2020. "Questioning the puzzle: Fiscal policy, exchange rate and inflation," Working papers 752, Banque de France.
    30. 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).
    31. Dupor, Bill & Li, Jingchao & Li, Rong, 2019. "Sticky wages, private consumption, and Fiscal multipliers," Journal of Macroeconomics, Elsevier, vol. 62(C).
    32. Luca Agnello & Jacopo Cimadomo, 2012. "Discretionary Fiscal Policies over the Cycle: New Evidence Based on the ESCB Disaggregated Approach," International Journal of Central Banking, International Journal of Central Banking, vol. 8(2), pages 43-85, June.
    33. 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.
    34. 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.
    35. Pierre-Olivier Gourinchas & Ṣebnem Kalemli-Özcan & Veronika Penciakova & Nick Sander, 2021. "Fiscal Policy in the Age of COVID: Does it ‘Get in all of the Cracks?’," NBER Working Papers 29293, National Bureau of Economic Research, Inc.
    36. Matija Lozej & Graeme Walsh, 2021. "Fiscal Policy Spillovers in a Monetary Union," Open Economies Review, Springer, vol. 32(5), pages 1089-1117, November.
    37. Drygalla, Andrej & Holtemöller, Oliver & Kiesel, Konstantin, 2020. "The Effects Of Fiscal Policy In An Estimated Dsge Model—The Case Of The German Stimulus Packages During The Great Recession," Macroeconomic Dynamics, Cambridge University Press, vol. 24(6), pages 1315-1345, September.
    38. Davoine, Thomas & Molnar, Matthias, 2017. "Cross-country fiscal policy spillovers and capital-skill complementarity in currency unions," Economics Series 329, Institute for Advanced Studies.
    39. 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. Kunzmann Vanessa, 2022. "Effects of Cross Country Fiscal Interdependence on Multipliers within a Monetary Union," Working Papers 216, Bavarian Graduate Program in Economics (BGPE).
    41. Matthias Molnar & Thomas Davoine, 2017. "Cross-country fiscal policy spillovers and capital-skill complementarity in currency unions," EcoMod2017 10275, EcoMod.
    42. Natoli, Filippo & Metelli, Luca, 2018. "The international transmission of US fiscal shocks," MPRA Paper 84207, University Library of Munich, Germany.
    43. Paulo Vieira & Celsa Machado & Ana Paula Ribeiro, 2016. "Optimal Fiscal Simple Rules for Small and Large Countries of a Monetary Union," EcoMod2016 9685, EcoMod.
    44. Wieland, Volker, 2009. "Fiscal stimulus and the promise of future spending cuts," CEPR Discussion Papers 7615, Centre for Economic Policy Research.
    45. Fabrizio Carmignani, 2013. "Does the Long Arm of US Macroeconomic Policy Reach South Asia?," South Asian Journal of Macroeconomics and Public Finance, , vol. 2(2), pages 145-168, December.
    46. Paredes, Joan & Pedregal, Diego J. & Pérez, Javier J., 2014. "Fiscal policy analysis in the euro area: Expanding the toolkit," Journal of Policy Modeling, Elsevier, vol. 36(5), pages 800-823.
    47. Căpraru, Bogdan & Georgescu, George & Sprincean, Nicu, 2022. "Do independent fiscal institutions cause better fiscal outcomes in the European Union?," Economic Systems, Elsevier, vol. 46(2).
    48. Faccini, Renato & Mumtaz, Haroon & Surico, Paolo, 2016. "International fiscal spillovers," Journal of International Economics, Elsevier, vol. 99(C), pages 31-45.
    49. 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.
    50. Cwik, Tobias & Wieland, Volker, 2010. "Keynesian government spending multipliers and spillovers in the euro area," Working Paper Series 1267, European Central Bank.
    51. Hickey, Rónán & Lozej, Matija & Smyth, Diarmaid, 2019. "Government Investment, Its Financing and the Public Capital Stock: A Small Open Economy Perspective," Research Technical Papers 9/RT/19, Central Bank of Ireland.
    52. 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).
    53. Mr. Sebastian Weber & Anna Ivanova, 2011. "Do Fiscal Spillovers Matter?," IMF Working Papers 2011/211, International Monetary Fund.
    54. 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.
    55. Cavallari, Lilia & Romano, Simone, 2017. "Fiscal policy in Europe: The importance of making it predictable," Economic Modelling, Elsevier, vol. 60(C), pages 81-97.
    56. 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.
    57. Jocelyn Boussard & Benoît Campagne, 2017. "Fiscal policy coordination in a monetary union at the zero lower bound," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 494-495-4, pages 65-90.
    58. Luigi Bonatti & Andrea Fracasso & Roberto Tamborini, 2021. "Monetary and Fiscal Spillovers Across the Atlantic: The Role of Financial Markets," DEM Working Papers 2021/09, Department of Economics and Management.
    59. Cristina Badarau & F. Huart & I. Sangaré, 2021. "Macroeconomic and policy implications of eurobonds," Post-Print hal-03407523, HAL.
    60. Francesco Caprioli & Marzia Romanelli & Pietro Tommasino, 2020. "Discretionary fiscal policy in the Euro area: Past, present and future," ECONOMIA PUBBLICA, FrancoAngeli Editore, vol. 2020(1), pages 55-85.
    61. 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.
    62. Alan J. Auerbach & Yuriy Gorodnichenko, 2012. "Output Spillovers from Fiscal Policy," NBER Working Papers 18578, National Bureau of Economic Research, Inc.

  11. Jürgen Maurer & André Meier, 2008. "Smooth it Like the “Joneses?†Estimating Peer-Group Effects in Intertemporal Consumption Choice," MEA discussion paper series 08167, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.

    Cited by:

    1. Kazuo MIno & Yasuhiro Nakamoto, 2015. "Heterogeneous Conformism and Wealth Distribution in a Neoclassical Growth Model," KIER Working Papers 928, Kyoto University, Institute of Economic Research.
    2. Edward Chi Ho Tang & Charles Ka Yui Leung, 2024. "Icing on the cake: Can the Top-Floor Units serve as a status good and an investment simultaneously?," ISER Discussion Paper 1252, Institute of Social and Economic Research, The University of Osaka.
    3. Giacomo De Giorgi & Anders Frederiksen & Luigi Pistaferri, 2016. "Consumption Network Effects," NBER Working Papers 22357, National Bureau of Economic Research, Inc.
    4. Tournemaine, frederic & Tsoukis, Chris, 2008. "Status, endogenous reference standards, and the growth-inequality relation: A note," MPRA Paper 10420, University Library of Munich, Germany.
    5. Eckerstorfer, Paul & Wendner, Ronald, 2013. "Asymmetric and non-atmospheric consumption externalities, and efficient consumption taxation," Journal of Public Economics, Elsevier, vol. 106(C), pages 42-56.
    6. Caballé, Jordi & Moro-Egido, Ana I., 2021. "Do aspirations reduce differences in wealth accumulation?," Economic Modelling, Elsevier, vol. 102(C).
    7. Yazeed Abdul Mumin & Awudu Abdulai, 2022. "Social networks, adoption of improved variety and household welfare: evidence from Ghana," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 49(1), pages 1-32.
    8. Li, Linyang, 2018. "Financial inclusion and poverty: The role of relative income," China Economic Review, Elsevier, vol. 52(C), pages 165-191.
    9. Olivier Coibion & Yuriy Gorodnichenko & Marianna Kudlyak & John Mondragon, 2016. "Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data," Working Paper Series 2016-20, Federal Reserve Bank of San Francisco.
    10. Tomas Havranek & Anna Sokolova, 2016. "Do Consumers Really Follow a Rule of Thumb? Three Thousand Estimates from 130 Studies Say “Probably Not”," Working Papers IES 2016/15, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jul 2016.
    11. Asadul Islam & Jaai Parasnis & Dietrich Fausten, 2013. "Do Immigrants Save Less than Natives? Immigrant and Native Saving Behaviour in Australia," The Economic Record, The Economic Society of Australia, vol. 89(284), pages 52-71, March.
    12. Francisco ALVAREZ-CUADRADO & Irakli JAPARIDZE, 2015. "Trickle-Down Consumption, Financial Deregulation, Inequality, and Indebtedness," Cahiers de recherche 10-2015, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    13. Michael D. Carr & Arjun Jayadev, 2013. "Relative Income and Indebtedness: Evidence from Panel Data," Working Papers 2013_02, University of Massachusetts Boston, Economics Department.
    14. Airaudo, Marco, 2013. "Monetary policy, stock prices, and consumption externalities," Economics Letters, Elsevier, vol. 120(3), pages 537-541.
    15. Tsoukis, Christopher & Tournemaine, Frederic, 2010. "Status in a canonical macro model: labour supply, growth, and inequality," MPRA Paper 26480, University Library of Munich, Germany.
    16. Lloyd-Braga, Teresa & Modesto, Leonor & Seegmuller, Thomas, 2014. "Market distortions and local indeterminacy: A general approach," Journal of Economic Theory, Elsevier, vol. 151(C), pages 216-247.
    17. Alonso-Carrera, Jaime & Bouché, Stéphane & de Miguel, Carlos, 2021. "Revisiting the process of aggregate growth recovery after a capital destruction," Journal of Macroeconomics, Elsevier, vol. 68(C).
    18. Curatola, Giuliano, 2017. "Portfolio choice and asset prices when preferences are interdependent," Journal of Economic Behavior & Organization, Elsevier, vol. 140(C), pages 197-223.
    19. Marco Airaudo & Luca Bossi, 2017. "Consumption Externalities And Monetary Policy With Limited Asset Market Participation," Economic Inquiry, Western Economic Association International, vol. 55(1), pages 601-623, January.
    20. Kenneth Arrow & Partha Dasgupta, 2009. "Conspicuous consumption, inconspicuous leisure," Economics Discussion Paper Series 0903, Economics, The University of Manchester.
    21. Kazuo MIno & Yasuhiro Nakamoto, 2014. "Conformism and Wealth Distribution," KIER Working Papers 901, Kyoto University, Institute of Economic Research.
    22. Constantinos Alexiou & Adimulya Kartiyasa, 2020. "Does greater income inequality cause increased work hours? New evidence from high income economies," Bulletin of Economic Research, Wiley Blackwell, vol. 72(4), pages 380-392, October.
    23. Rob Alessie & Federica Teppa, 2010. "Saving and habit formation: evidence from Dutch panel data," Empirical Economics, Springer, vol. 38(2), pages 385-407, April.
    24. Rafael Wildauer, 2016. "Determinants of US Household Debt: New Evidence from the SCF," Economics Discussion Papers 2016-6, School of Economics, Kingston University London.
    25. Gelain, Paolo & Lansing, Kevin J., 2014. "House prices, expectations, and time-varying fundamentals," Journal of Empirical Finance, Elsevier, vol. 29(C), pages 3-25.
    26. Heffetz, Ori, 2012. "Who sees what? Demographics and the visibility of consumer expenditures," Journal of Economic Psychology, Elsevier, vol. 33(4), pages 801-818.
    27. Benjamin Volland, 2013. "On the intergenerational transmission of preferences," Journal of Bioeconomics, Springer, vol. 15(3), pages 217-249, October.
    28. Partha Dasgupta, 2014. "Pricing climate change," Politics, Philosophy & Economics, , vol. 13(4), pages 394-416, November.
    29. Quintana-Domeque, Climent & Wohlfart, Johannes, 2016. "“Relative concerns for consumption at the top”: An intertemporal analysis for the UK," Journal of Economic Behavior & Organization, Elsevier, vol. 129(C), pages 172-194.
    30. Lloyd-Braga, Teresa & Modesto, Leonor, 2012. "Can Taxes Stabilize the Economy in the Presence of Consumption Externalities?," IZA Discussion Papers 6876, IZA Network @ LISER.
    31. Francisco Alvarez-Cuadrado & Jose Maria Casado & Jose Maria Labeaga, 2016. "Envy and Habits: Panel Data Estimates of Interdependent Preferences," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 78(4), pages 443-469, August.
    32. Michalis Nikiforos, 2015. "A Nonbehavioral Theory of Saving," Economics Working Paper Archive wp_844, Levy Economics Institute.
    33. Laszlo Goerke & Michael Neugart, 2021. "Social preferences, monopsony and government intervention," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 54(2), pages 864-891, May.
    34. Tournemaine, Frederic & Tsoukis, Christopher, 2010. "Gain versus pain from status and ambition: Effects on growth and inequality," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 39(2), pages 286-294, April.
    35. Ferrer, Ana & Gonzalez, Francisco M. & Nesterova, Iuliia, 2025. "Conspicuous Consumption and Visible Inequality," IZA Discussion Papers 17604, IZA Network @ LISER.
    36. Matteo Barigozzi & Biagio Speciale, 2009. "Immigrant’s legal status, permanence in the destination country and the distribution of consumption expenditure," Working Papers ECARES 2009_019, ULB -- Universite Libre de Bruxelles.
    37. Tina Fransman & Marisa Fintel, 2024. "Relative Standing and Political Participation," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 174(1), pages 281-311, August.
    38. Richard Barnett & Joydeep Bhattacharya & Helle Bunzel, 2016. "The Fight-or-Flight Response to the Joneses," School of Economics Working Paper Series 2016-12, LeBow College of Business, Drexel University.
    39. Arthur Lewbel & Samuel Norris & Krishna Pendakur & Xi Qu, 2018. "Consumption Peer Effects and Utility Needs in India," Boston College Working Papers in Economics 958, Boston College Department of Economics, revised 15 Sep 2021.
    40. Frederic Tournemaine & Christopher Tsoukis, 2015. "Public Expenditures, Growth, and Distribution in a Mixed Regime of Education with a Status Motive," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 17(5), pages 673-701, October.
    41. Chang, Juin-jen & Liu, Chia-ying & Wang, Wei-neng, 2018. "Conspicuous consumption and trade unionism," Journal of Macroeconomics, Elsevier, vol. 57(C), pages 350-366.
    42. Michael D. Carr & Arjun Jayadev, 2015. "Relative Income and Indebtedness: Evidence from Panel Data," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 61(4), pages 759-772, December.
    43. Barnett, Richard C. & Bhattacharya, Joydeep & Bunzel, Helle, 2019. "The fight-or-flight response to the Joneses and inequality," Journal of Economic Dynamics and Control, Elsevier, vol. 101(C), pages 187-210.
    44. Carin Cruijsen & Joris Knoben, 2021. "Ctrl+C Ctrl+Pay: Do People Mirror Electronic Payment Behavior of their Peers?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 59(1), pages 69-96, April.
    45. Roman Horvath, 2020. "Peer Effects in Central Banking," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(4), pages 764-814, December.
    46. Jose María Casado, 2018. "The role of the social environment in household consumption decisions in Spain," Economic Bulletin, Banco de España, issue MAR.
    47. Zhou, Xianbo & Sun, Yucheng & Tao, Ying, 2023. "Does Digital Finance Upgrade Trickle-down consumption effect in China?," Economic Modelling, Elsevier, vol. 118(C).
    48. Petach, Luke A. & Tavani, Daniele, 2021. "Consumption externalities and growth: Theory and evidence for the United States," Journal of Economic Behavior & Organization, Elsevier, vol. 183(C), pages 976-997.
    49. Courty, Pascal & Engineer, Merwan, 2017. "A Pure Hedonic Theory of Utility and Status: Unhappy but Effcient Invidious Comparisons," CEPR Discussion Papers 12478, Centre for Economic Policy Research.

  12. 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. Emilia Mioara CAMPEANU, 2012. "How can be investigated the fiscal policy effects on the Romanian economy?," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economic Sciences, Tibiscus University of Timisoara, vol. 0, pages 80-87, May.
    2. 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.
    3. 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.
    4. Fernández Romero, Daniel, 2025. "The fiscal multiplier in presence of unconventional monetary policy: Evidence for 17 OECD countries," Economic Modelling, Elsevier, vol. 147(C).
    5. Richard McManus, 2013. "Austerity versus Stimulus: A DSGE Political Economy Explanation," Discussion Papers 13/09, Department of Economics, University of York.
    6. 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.
    7. Cristiano Cantore & Lukas Freund, 2020. "Workers, capitalists, and the government: fiscal policy and income (re)distribution," Bank of England Staff Working Paper series 858, Bank of England.
    8. Ricardo Nunes, 2010. "Inflation Dynamics: The Role of Expectations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(6), pages 1161-1172, September.
    9. Vanessa Kunzmann, 2023. "Estimating Regime Dependent Fiscal Spillover Effects in a Monetary Union," Working Papers 227, Bavarian Graduate Program in Economics (BGPE).
    10. 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.
    11. Giorgio Motta & Patrizio Tirelli, 2010. "Money Targeting, Heterogeneous Agents and Dynamic Instability," Working Papers 193, University of Milano-Bicocca, Department of Economics, revised Jul 2010.
    12. Mr. Nooman Rebei, 2017. "Evaluating Changes in the Transmission Mechanism of Government Spending Shocks," IMF Working Papers 2017/049, International Monetary Fund.
    13. Rocio Betancourt & Hernando Vargas & Norberto Rodríguez, 2006. "Interest Rate Pass-Through In Colombia: A Micro-Banking Perspective," Borradores de Economia 407, Banco de la Republica de Colombia.
    14. Markus Kirchner & Jacopo Cimadomo & Sebastian Hauptmeier, 2010. "Transmission of Government Spending Shocks in the Euro Area: Time Variation and Driving Forces," Tinbergen Institute Discussion Papers 10-021/2, Tinbergen Institute.
    15. Óscar Reinaldo Becerra & Luis Fernando Melo Velandia., 2009. "Transmisión de Tasas de Interés bajo el Esquema de Metas de Inflación: Evidencia para Colombia," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 46(133), pages 107-134.
    16. Martin Larch & João Nogueira Martins, 2007. "Fiscal indicators - Proceedings of the the Directorate-General for Economic and Financial Affairs Workshop held on 22 September 2006 in Brussels," European Economy - Economic Papers 2008 - 2015 297, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    17. Afonso, António & Claeys, Peter, 2007. "The dynamic behaviour of budget components and output," Working Paper Series 775, European Central Bank.
    18. Sebastian Gechert, 2013. "What fiscal policy is most effective? A Meta Regression Analysis," IMK Working Paper 117-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    19. Ibrahim Unalmis, 2010. "Composition of the Government Spending and Behaviour of the Real Exchange Rate in a Small Open Economy," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 10(1), pages 1-27.
    20. 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.
    21. 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.
    22. Max Breitenlechner & Martin Geiger & Mathias Klein, 2024. "The Fiscal Channel of Monetary Policy," Working Papers 2024-07, Faculty of Economics and Statistics, Universität Innsbruck.
    23. 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.
    24. Alessio Moro & Omar Rachedi, 2018. "The changing structure of goverment consumption spending," Working Papers 1840, Banco de España.
    25. Canzoneri, Matthew & Cumby, Robert & Diba, Behzad & López-Salido, David, 2011. "The role of liquid government bonds in the great transformation of American monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 35(3), pages 282-294, March.
    26. Moro, Alessio & Rachedi, Omar, 2018. "The Changing Structure of Government Spending," MPRA Paper 86577, University Library of Munich, Germany.
    27. Shu-Chun S. Yang & Nora Traum, 2011. "When Does Government Debt Crowd Out Investment?," 2011 Meeting Papers 479, Society for Economic Dynamics.
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    29. Hyeongwoo Kim & Shuwei Zhang, 2018. "Understanding Why Fiscal Stimulus Can Fail through the Lens of the Survey of Professional Forecasters," Auburn Economics Working Paper Series auwp2018-04, Department of Economics, Auburn University.
    30. Corsetti, Giancarlo & Müller, Gernot & Meier, André, 2012. "What Determines Government Spending Multipliers?," CEPR Discussion Papers 9010, Centre for Economic Policy Research.
    31. 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.
    32. Giorgio Motta & Patrizio Tirelli, 2012. "Optimal Simple Monetary and Fiscal Rules under Limited Asset Market Participation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(7), pages 1351-1374, October.
    33. 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.
    34. Givens, Gregory & Tavoy, Reid, 2024. "Entry, unemployment, and the transmission of government spending shocks," MPRA Paper 121894, University Library of Munich, Germany.
    35. Shafik Hebous, 2011. "The Effects Of Discretionary Fiscal Policy On Macroeconomic Aggregates: A Reappraisal," Journal of Economic Surveys, Wiley Blackwell, vol. 25(4), pages 674-707, September.
    36. Vitor Carvalho & Manuel M. F. Martins, 2011. "Investment and output effects of fiscal consolidations in a new-Keynesian DSGE model for the Euro Area: composition matters?," EcoMod2011 3246, EcoMod.
    37. Markus Leibrecht & Johann Scharler, 2012. "Government Size and Business Cycle Volatility; How Important Are Credit Constraints?," Working Paper Series in Economics 237, University of Lüneburg, Institute of Economics.
    38. Philip Arestis & Malcolm Sawyer, 2011. "The economic policies of the political economy of the Australian patriot and Cambridge economist," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 8(1), pages 129-145.
    39. 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).
    40. Klein, Mathias & Polattimur, Hamza & Winkler, Roland, 2022. "Fiscal spending multipliers over the household leverage cycle," European Economic Review, Elsevier, vol. 141(C).
    41. Corsetti, Giancarlo & Müller, Gernot & Kuester, Keith, 2011. "Floats, pegs and the transmission of fiscal policy," CEPR Discussion Papers 8180, Centre for Economic Policy Research.
    42. 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).
    43. 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.
    44. Yasuharu Iwata, 2011. "The Government Spending Multiplier and Fiscal Financing: Insights from Japan," International Finance, Wiley Blackwell, vol. 14(2), pages 231-264, June.
    45. 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.
    46. 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.
    47. Gregory E. Givens & Tavoy D. Reid, 2026. "Strengthening the micro origins of macro multipliers via partial insurance and increasing returns," Economic Inquiry, Western Economic Association International, vol. 64(2), pages 724-747, April.
    48. Müller, Gernot & Born, Benjamin & Juessen, Falko, 2012. "Exchange rate regimes and fiscal multipliers," CEPR Discussion Papers 8986, Centre for Economic Policy Research.
    49. Breitenlechner, Max & Geiger, Martin & Klein, Mathias, 2026. "The Fiscal Channel of Monetary Policy," Working Paper Series 469, Sveriges Riksbank (Central Bank of Sweden).
    50. Bilbiie, Florin O., 2020. "The New Keynesian cross," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 90-108.
    51. IWATA, Yasuharu & IIBOSHI, Hirokuni, 2023. "The Nexus between Public Debt and the Government Spending Multiplier: Fiscal Adjustments Matter," MPRA Paper 116355, University Library of Munich, Germany.
    52. 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.
    53. Bilbiie, Florin, 2017. "The Puzzle, the Power, and the Dark Side: Forward Guidance Redux," CEPR Discussion Papers 12231, Centre for Economic Policy Research.
    54. 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, Centre for Economic Policy Research.
    55. Kim, Hyeongwoo & Shao, Peng & Zhang, Shuwei, 2023. "Policy coordination and the effectiveness of fiscal stimulus," Journal of Macroeconomics, Elsevier, vol. 75(C).
    56. 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.
    57. Givens, Gregory, 2019. "Unemployment, Partial Insurance, and the Multiplier Effects of Government Spending," MPRA Paper 96811, University Library of Munich, Germany.
    58. Matthieu Bordenave & Giovanna Ciaffi, 2025. "Measuring Green Fiscal Multipliers: Heterogeneity in European Countries," FMM Working Paper 121-2025, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    59. Wolff, Guntram B. & Tenhofen, Jörn & Heppke-Falk, Kirsten H., 2006. "The macroeconomic effects of exogenous fiscal policy shocks in Germany: a disaggregated SVAR analysis," Discussion Paper Series 1: Economic Studies 2006,41, Deutsche Bundesbank.
    60. Airaudo, Marco, 2013. "Monetary policy and stock price dynamics with limited asset market participation," Journal of Macroeconomics, Elsevier, vol. 36(C), pages 1-22.
    61. Bilbiie, Florin & Straub, Roland, 2011. "Asset Market Participation, Monetary Policy Rules and the Great Inflation," CEPR Discussion Papers 8555, Centre for Economic Policy Research.
    62. Joseph Kopecky, 2021. "The Age for Austerity? Population Age Structure and Fiscal Multipliers," Trinity Economics Papers tep1621, Trinity College Dublin, Department of Economics.
    63. Matthew Canzoneri, 2007. "Coordination of Monetary and Fiscal Policy in a Monetary Union: Policy Issues & Analytical Models," Money Macro and Finance (MMF) Research Group Conference 2006 165, Money Macro and Finance Research Group.
    64. 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).
    65. Traum, Nora & Yang, Shu-Chun S., 2011. "Monetary and fiscal policy interactions in the post-war U.S," European Economic Review, Elsevier, vol. 55(1), pages 140-164, January.
    66. 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).
    67. Celso José Costa-Junior & Sérgio R. de Brito Gadelha & Alejandro C. Garcia-Cintado, 2026. "Fiscal Policy in an SNA-Compliant DSGE Model for Emerging Markets," Open Economies Review, Springer, vol. 37(3), pages 901-960, July.
    68. Haque, Qazi & Groshenny, Nicolas & Weder, Mark, 2021. "Do we really know that U.S. monetary policy was destabilizing in the 1970s?," European Economic Review, Elsevier, vol. 131(C).
    69. 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.
    70. 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.
    71. 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.
    72. 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.
    73. Eric M. Leeper & Nora Traum & Todd B. Walker, 2011. "Clearing Up the Fiscal Multiplier Morass," NBER Working Papers 17444, National Bureau of Economic Research, Inc.
    74. 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.
    75. Florin Bilbiie & Tommaso Monacelli & Roberto Perotti, 2012. "Public Debt and Redistribution with Borrowing Constraints," Working Papers 448, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    76. Andrea Colciago, 2011. "Rule‐of‐Thumb Consumers Meet Sticky Wages," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(2‐3), pages 325-353, March.
    77. Jacopo Cimadomo & Sebastian Hauptmeier & Sergio Sola, 2011. "Identifying the Effects of Government Spending Shocks with and without Expected Reversal: an Approach Based on U.S. Real-Time Data," IHEID Working Papers 12-2011, Economics Section, The Graduate Institute of International Studies.
    78. Giorgio Motta & Patrizio Tirelli, 2010. "Rule-of-thumb Consumers, Consumption Habits and the Taylor Principle," Working Papers 194, University of Milano-Bicocca, Department of Economics, revised Jul 2010.
    79. Klein, Mathias & Linnemann, Ludger, 2019. "Tax and spending shocks in the open economy: Are the deficits twins?," European Economic Review, Elsevier, vol. 120(C).
    80. Claudia M. Buch & Christian Pierdzioch, 2009. "Low Skill but High Volatility?," CESifo Working Paper Series 2665, CESifo.
    81. 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.
    82. Eyno Rots & Barnabas Szekely, 2021. "A Model-Based Comparison of Macroprudential Tools," MNB Working Papers 2021/3, Magyar Nemzeti Bank (Central Bank of Hungary).
    83. Mumtaz, Haroon & Theodoridis, Konstantinos, 2020. "Fiscal policy shocks and stock prices in the United States," European Economic Review, Elsevier, vol. 129(C).
    84. Tommaso Monacelli & Roberto Perotti & Antonella Trigari, 2011. "Taxes and the Labor Market," Working Papers Central Bank of Chile 623, Central Bank of Chile.
    85. 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.
    86. Florin O. Bilbiie & André Meier & Gernot J. Müller, 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.
    87. Párraga Rodríguez, Susana, 2018. "The dynamic effects of public expenditure shocks in the United States," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 340-360.
    88. Deleidi, Matteo & Mazzucato, Mariana, 2021. "Directed innovation policies and the supermultiplier: An empirical assessment of mission-oriented policies in the US economy," Research Policy, Elsevier, vol. 50(2).
    89. Florin O. Bilbiie, 2011. "Nonseparable Preferences, Frisch Labor Supply, and the Consumption Multiplier of Government Spending: One Solution to a Fiscal Policy Puzzle," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(1), pages 221-251, February.
    90. Eric Mayer & Nikolai Stähler, 2013. "The debt brake: business cycle and welfare consequences of Germany’s new fiscal policy rule," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 40(1), pages 39-74, February.
    91. Olaf Posch, 2009. "Explaining Output Volatility: The Case of Taxation," CESifo Working Paper Series 2751, CESifo.
    92. 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.
    93. 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.
    94. 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.
    95. 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).
    96. Bilbiie, Florin, 2018. "Complementarity, Income, and Substitution: A U(C,N) Utility for Macro," CEPR Discussion Papers 12812, Centre for Economic Policy Research.
    97. 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).
    98. 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.
    99. 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.
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  13. Jürgen Maurer & André Meier, 2005. "Do the "Joneses" really matter? Peer-group versus correlated effects in intertemporal consumption choice," IFS Working Papers W05/15, Institute for Fiscal Studies.

    Cited by:

    1. Jürgen Maurer & André Meier, 2008. "Smooth it Like the “Joneses?†Estimating Peer-Group Effects in Intertemporal Consumption Choice," MEA discussion paper series 08167, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.

  14. Müller, Gernot J. & Meier, André, 2005. "Fleshing out the monetary transmission mechanism: output composition and the role of financial frictions," Working Paper Series 500, European Central Bank.

    Cited by:

    1. Rannenberg, Ansgar, 2012. "Asymmetric information in credit markets, bank leverage cycles and macroeconomic dynamics," Working Paper Series 1487, European Central Bank.
    2. Jagjit S. Chadha & Luisa Corrado & Sean Holly, 2008. "Reconnecting Money to Inflation: The Role of the External Finance Premium," Studies in Economics 0816, School of Economics, University of Kent.
    3. Naohisa Hirakata & Nao Sudo & Kozo Ueda, 2011. "Do banking shocks matter for the U.S. economy?," Globalization Institute Working Papers 86, Federal Reserve Bank of Dallas.
    4. 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.
    5. 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.
    6. 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.
    7. Queijo, Virginia, 2005. "How Important are Financial Frictions in the U.S. and Euro Area?," Seminar Papers 738, Stockholm University, Institute for International Economic Studies.
    8. 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.
    9. Céline Poilly, 2007. "Does Money Matter for the Identification of Monetary Policy Shocks: A DSGE Perspective," Working papers 184, Banque de France.
    10. Müller, Gernot & Cwik, Tobias & Wolters, Maik, 2010. "Does Trade Integration Alter Monetary Policy Transmission?," CEPR Discussion Papers 8026, Centre for Economic Policy Research.
    11. 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.
    12. Ethan Cohen-Cole & Enrique Martínez García, 2008. "The balance sheet channel," Supervisory Research and Analysis Working Papers QAU08-7, Federal Reserve Bank of Boston.
    13. 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.
    14. Merola, Rossana, 2010. "Optimal monetary policy in a small open economy with financial frictions," Discussion Paper Series 1: Economic Studies 2010,01, Deutsche Bundesbank.
    15. Nolan, Charles & Thoenissen, Christoph, 2009. "Financial shocks and the US business cycle," Journal of Monetary Economics, Elsevier, vol. 56(4), pages 596-604, May.
    16. 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.
    17. Cohen-Cole, Ethan & Morse, Jonathan, 2010. "Monetary policy and capital regulation in the US and Europe," Working Paper Series 1222, European Central Bank.
    18. Fuchi, Hitoshi & Muto, Ichiro & Ugai, Hiroshi, 2005. "A Historical Evaluation of Financial Accelerator Effects in Japan's Economy," MPRA Paper 4648, University Library of Munich, Germany.
    19. 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.
    20. Mayer, Eric & Grimm, Oliver, 2008. "Countercyclical taxation and price dispersion," W.E.P. - Würzburg Economic Papers 78, University of Würzburg, Department of Economics.
    21. Chuluunbayar, Delgerjargal, 2019. "Output Composition of Monetary Policy Transmission in Mongolia," MPRA Paper 98111, University Library of Munich, Germany.
    22. 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.
    23. Gelain, Paolo, 2010. "The external finance premium in the euro area A useful indicator for monetary policy?," Working Paper Series 1171, European Central Bank.
    24. Jagjit S. Chadha & Luisa Corrado & Sean Holly, 2013. "A Note on Money and the Conduct of Monetary Policy," Cambridge Working Papers in Economics 1329, Faculty of Economics, University of Cambridge.
    25. Wen Yao, 2012. "International Business Cycles and Financial Frictions," Staff Working Papers 12-19, Bank of Canada.

Articles

  1. Jonathan Federle & André Meier & Gernot J. Müller & Victor Sehn, 2026. "Proximity to War: The Stock Market Response to the Russian Invasion of Ukraine," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 58(3), pages 681-703, April.
    See citations under working paper version above.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  7. 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.
  8. 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.
  9. Jürgen Maurer & André Meier, 2008. "Smooth it Like the 'Joneses'? Estimating Peer-Group Effects in Intertemporal Consumption Choice," Economic Journal, Royal Economic Society, vol. 118(527), pages 454-476, March.

    Cited by:

    1. Barnett, Richard C. & Bhattacharya, Joydeep & Bunzel, Helle, 2019. "The fight-or-flight response to the Joneses and inequality," ISU General Staff Papers 201904010700001060, Iowa State University, Department of Economics.
    2. Kazuo MIno & Yasuhiro Nakamoto, 2015. "Heterogeneous Conformism and Wealth Distribution in a Neoclassical Growth Model," KIER Working Papers 928, Kyoto University, Institute of Economic Research.
    3. Edward Chi Ho Tang & Charles Ka Yui Leung, 2024. "Icing on the cake: Can the Top-Floor Units serve as a status good and an investment simultaneously?," ISER Discussion Paper 1252, Institute of Social and Economic Research, The University of Osaka.
    4. Giacomo De Giorgi & Anders Frederiksen & Luigi Pistaferri, 2016. "Consumption Network Effects," NBER Working Papers 22357, National Bureau of Economic Research, Inc.
    5. Tournemaine, frederic & Tsoukis, Chris, 2008. "Status, endogenous reference standards, and the growth-inequality relation: A note," MPRA Paper 10420, University Library of Munich, Germany.
    6. Eckerstorfer, Paul & Wendner, Ronald, 2013. "Asymmetric and non-atmospheric consumption externalities, and efficient consumption taxation," Journal of Public Economics, Elsevier, vol. 106(C), pages 42-56.
    7. Jürgen Maurer & André Meier, 2008. "Smooth it Like the ‘Joneses’? Estimating Peer‐Group Effects in Intertemporal Consumption Choice," Economic Journal, Royal Economic Society, vol. 118(527), pages 454-476, March.
    8. Caballé, Jordi & Moro-Egido, Ana I., 2021. "Do aspirations reduce differences in wealth accumulation?," Economic Modelling, Elsevier, vol. 102(C).
    9. Yazeed Abdul Mumin & Awudu Abdulai, 2022. "Social networks, adoption of improved variety and household welfare: evidence from Ghana," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 49(1), pages 1-32.
    10. Li, Linyang, 2018. "Financial inclusion and poverty: The role of relative income," China Economic Review, Elsevier, vol. 52(C), pages 165-191.
    11. Olivier Coibion & Yuriy Gorodnichenko & Marianna Kudlyak & John Mondragon, 2016. "Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data," Working Paper Series 2016-20, Federal Reserve Bank of San Francisco.
    12. Tomas Havranek & Anna Sokolova, 2016. "Do Consumers Really Follow a Rule of Thumb? Three Thousand Estimates from 130 Studies Say “Probably Not”," Working Papers IES 2016/15, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jul 2016.
    13. Asadul Islam & Jaai Parasnis & Dietrich Fausten, 2013. "Do Immigrants Save Less than Natives? Immigrant and Native Saving Behaviour in Australia," The Economic Record, The Economic Society of Australia, vol. 89(284), pages 52-71, March.
    14. Francisco ALVAREZ-CUADRADO & Irakli JAPARIDZE, 2015. "Trickle-Down Consumption, Financial Deregulation, Inequality, and Indebtedness," Cahiers de recherche 10-2015, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    15. Michael D. Carr & Arjun Jayadev, 2013. "Relative Income and Indebtedness: Evidence from Panel Data," Working Papers 2013_02, University of Massachusetts Boston, Economics Department.
    16. Airaudo, Marco, 2013. "Monetary policy, stock prices, and consumption externalities," Economics Letters, Elsevier, vol. 120(3), pages 537-541.
    17. Tsoukis, Christopher & Tournemaine, Frederic, 2010. "Status in a canonical macro model: labour supply, growth, and inequality," MPRA Paper 26480, University Library of Munich, Germany.
    18. Lloyd-Braga, Teresa & Modesto, Leonor & Seegmuller, Thomas, 2014. "Market distortions and local indeterminacy: A general approach," Journal of Economic Theory, Elsevier, vol. 151(C), pages 216-247.
    19. Alonso-Carrera, Jaime & Bouché, Stéphane & de Miguel, Carlos, 2021. "Revisiting the process of aggregate growth recovery after a capital destruction," Journal of Macroeconomics, Elsevier, vol. 68(C).
    20. Kevin J. Lansing, 2015. "Asset Pricing with Concentrated Ownership of Capital and Distribution Shocks," American Economic Journal: Macroeconomics, American Economic Association, vol. 7(4), pages 67-103, October.
    21. Curatola, Giuliano, 2017. "Portfolio choice and asset prices when preferences are interdependent," Journal of Economic Behavior & Organization, Elsevier, vol. 140(C), pages 197-223.
    22. Marco Airaudo & Luca Bossi, 2017. "Consumption Externalities And Monetary Policy With Limited Asset Market Participation," Economic Inquiry, Western Economic Association International, vol. 55(1), pages 601-623, January.
    23. Kenneth Arrow & Partha Dasgupta, 2009. "Conspicuous consumption, inconspicuous leisure," Economics Discussion Paper Series 0903, Economics, The University of Manchester.
    24. Kazuo MIno & Yasuhiro Nakamoto, 2014. "Conformism and Wealth Distribution," KIER Working Papers 901, Kyoto University, Institute of Economic Research.
    25. Constantinos Alexiou & Adimulya Kartiyasa, 2020. "Does greater income inequality cause increased work hours? New evidence from high income economies," Bulletin of Economic Research, Wiley Blackwell, vol. 72(4), pages 380-392, October.
    26. Rob Alessie & Federica Teppa, 2010. "Saving and habit formation: evidence from Dutch panel data," Empirical Economics, Springer, vol. 38(2), pages 385-407, April.
    27. Rafael Wildauer, 2016. "Determinants of US Household Debt: New Evidence from the SCF," Economics Discussion Papers 2016-6, School of Economics, Kingston University London.
    28. Gelain, Paolo & Lansing, Kevin J., 2014. "House prices, expectations, and time-varying fundamentals," Journal of Empirical Finance, Elsevier, vol. 29(C), pages 3-25.
    29. Heffetz, Ori, 2012. "Who sees what? Demographics and the visibility of consumer expenditures," Journal of Economic Psychology, Elsevier, vol. 33(4), pages 801-818.
    30. Benjamin Volland, 2013. "On the intergenerational transmission of preferences," Journal of Bioeconomics, Springer, vol. 15(3), pages 217-249, October.
    31. Partha Dasgupta, 2014. "Pricing climate change," Politics, Philosophy & Economics, , vol. 13(4), pages 394-416, November.
    32. Dasgupta, Partha & Southerton, Dale & Ulph, Alistair & Ulph, David, 2014. "Consumer Behaviour in a Social Context: Implications for Environmental Policy," SIRE Discussion Papers 2015-10, Scottish Institute for Research in Economics (SIRE).
    33. Quintana-Domeque, Climent & Wohlfart, Johannes, 2016. "“Relative concerns for consumption at the top”: An intertemporal analysis for the UK," Journal of Economic Behavior & Organization, Elsevier, vol. 129(C), pages 172-194.
    34. Barnett, Richard C. & Bhattacharya, Joydeep & Bunzel, Helle, 2018. "The Fight-or-Flight Response to the Joneses and Income Inequality," ISU General Staff Papers 201812120800001060, Iowa State University, Department of Economics.
    35. Francisco Alvarez-Cuadrado & Jose Maria Casado & Jose Maria Labeaga, 2016. "Envy and Habits: Panel Data Estimates of Interdependent Preferences," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 78(4), pages 443-469, August.
    36. Michalis Nikiforos, 2015. "A Nonbehavioral Theory of Saving," Economics Working Paper Archive wp_844, Levy Economics Institute.
    37. Laszlo Goerke & Michael Neugart, 2021. "Social preferences, monopsony and government intervention," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 54(2), pages 864-891, May.
    38. Tournemaine, Frederic & Tsoukis, Christopher, 2010. "Gain versus pain from status and ambition: Effects on growth and inequality," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 39(2), pages 286-294, April.
    39. Ferrer, Ana & Gonzalez, Francisco M. & Nesterova, Iuliia, 2025. "Conspicuous Consumption and Visible Inequality," IZA Discussion Papers 17604, IZA Network @ LISER.
    40. Matteo Barigozzi & Biagio Speciale, 2009. "Immigrant’s legal status, permanence in the destination country and the distribution of consumption expenditure," Working Papers ECARES 2009_019, ULB -- Universite Libre de Bruxelles.
    41. Tina Fransman & Marisa Fintel, 2024. "Relative Standing and Political Participation," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 174(1), pages 281-311, August.
    42. Richard Barnett & Joydeep Bhattacharya & Helle Bunzel, 2016. "The Fight-or-Flight Response to the Joneses," School of Economics Working Paper Series 2016-12, LeBow College of Business, Drexel University.
    43. Arthur Lewbel & Samuel Norris & Krishna Pendakur & Xi Qu, 2018. "Consumption Peer Effects and Utility Needs in India," Boston College Working Papers in Economics 958, Boston College Department of Economics, revised 15 Sep 2021.
    44. Frederic Tournemaine & Christopher Tsoukis, 2015. "Public Expenditures, Growth, and Distribution in a Mixed Regime of Education with a Status Motive," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 17(5), pages 673-701, October.
    45. William Addessi & Ivan Etzo, 2024. "International immigration and final consumption expenditure composition," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 160(2), pages 427-454, May.
    46. Chang, Juin-jen & Liu, Chia-ying & Wang, Wei-neng, 2018. "Conspicuous consumption and trade unionism," Journal of Macroeconomics, Elsevier, vol. 57(C), pages 350-366.
    47. Klein, Mathias & Krause, Christopher, 2015. "Technology-Labor and Fiscal Spending Crowding-in Puzzles: The Role of Interpersonal Comparison," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113075, Verein für Socialpolitik / German Economic Association.
    48. Michael D. Carr & Arjun Jayadev, 2015. "Relative Income and Indebtedness: Evidence from Panel Data," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 61(4), pages 759-772, December.
    49. Carin Cruijsen & Joris Knoben, 2021. "Ctrl+C Ctrl+Pay: Do People Mirror Electronic Payment Behavior of their Peers?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 59(1), pages 69-96, April.
    50. Roman Horvath, 2020. "Peer Effects in Central Banking," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(4), pages 764-814, December.
    51. Jose María Casado, 2018. "The role of the social environment in household consumption decisions in Spain," Economic Bulletin, Banco de España, issue MAR.
    52. Zhou, Xianbo & Sun, Yucheng & Tao, Ying, 2023. "Does Digital Finance Upgrade Trickle-down consumption effect in China?," Economic Modelling, Elsevier, vol. 118(C).
    53. Petach, Luke A. & Tavani, Daniele, 2021. "Consumption externalities and growth: Theory and evidence for the United States," Journal of Economic Behavior & Organization, Elsevier, vol. 183(C), pages 976-997.
    54. Courty, Pascal & Engineer, Merwan, 2017. "A Pure Hedonic Theory of Utility and Status: Unhappy but Effcient Invidious Comparisons," CEPR Discussion Papers 12478, Centre for Economic Policy Research.

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