Fiscal policy analysis in the euro area: Expanding the toolkit |
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| Affiliation: | 1. European Central Bank, Germany;2. U. Castilla-La Mancha, Spain;3. Banco de España, Spain;1. Universidad de Castilla-La Mancha, Spain;2. Universidad de Valencia, Spain;3. Universidad de La Laguna, Spain;4. Universidad de Alcalá, Spain;1. Universidad Nacional de Colombia, Bogota’, Facultad de Ciencias Economica, Escuela de Economia, Colombia;2. United Nations Economic Commission for Africa (Addis Ababa), Ethiopia;1. Higher Institute of Accountancy and Business Administration (ISCAE), Manouba Campus, 2010, University of Manouba, Tunisia;2. URED, Faculty of Economics and Management of Sfax, Tunisia;3. Faculty of Economics and Management of Sfax, UREA, University of Sfax, Route de l’Aérodrome km 4.5, B.P. 1088-3018, Sfax, Tunisia;4. Faculty of Economics and Management of Sfax, University of Sfax, Route de l’Aérodrome km 4.5, B.P. 1088-3018, Sfax, Tunisia |
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| Abstract: | The absence of historical quarterly fiscal data has limited the analysis of the macroeconomic impact of fiscal policies in the euro area, including the interactions of fiscal and monetary policies. To overcome this gap, we construct a quite disaggregated euro area quarterly fiscal database for the period 1980Q1–2012Q4, based on a rich set of input fiscal data taken from national sources. We discuss how this dataset has allowed and can allow the profession to tackle new policy-relevant research topics. We also provide stylized facts on the cyclical properties of main euro area fiscal aggregates, focusing on the recent economic crisis period. |
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| Keywords: | Euro area Fiscal database Fiscal policies Stylized facts Mixed-frequencies’ models C53 E6 H6 |
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