A new identification of fiscal shocks based on the information flow

Giovanni Ricco ()

No 1813, Working Paper Series from European Central Bank

Abstract: Can discretionary increases in government spending stimulate the economy? We answer this question by taking into account both the information flow on fiscal measures and the role played by information frictions. Using a novel set of empirical proxies for fiscal news and agents JEL Classification: C32, E32, E62

Keywords: fiscal foresight; fiscal shocks; government spending; government spending news; large Bayesian VARs; structural VARs; survey of professional forecasters (search for similar items in EconPapers)
Date: 2015-06
New Economics Papers: this item is included in nep-mac and nep-pbe
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Citations: View citations in EconPapers (60)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20151813

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