Fiscal foresight: Do expectations have cross-border effects?
Simone Romano ()
Journal of Macroeconomics, 2018, vol. 57, issue C, 71-82
This paper estimates the cross-border effects of U.S. fiscal shocks on four main trading partners within a two-country Bayesian VAR framework. Using an identification strategy which differentiates between expected and unexpected government spending shocks, it provides evidence in support of the hypothesis that expectations alter fiscal policy transmission at both national and international level.
Keywords: Fiscal foresight; Fiscal spillovers; VAR model; Fiscal policy (search for similar items in EconPapers)
JEL-codes: C32 E62 F42 H68 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jmacro:v:57:y:2018:i:c:p:71-82
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