The aggregate effects of government income transfer shocks - EU evidence

Susana Parraga Rodriguez

No 1629, Working Papers from Banco de España

Abstract: This paper estimates the aggregate effect of government income transfer shocks for a sample of EU countries. The new measure of transfer shocks builds on a dataset by public fi nance experts of the European System of Central Banks (ESCB). The identifi cation strategy consists of a narrative analysis of the old-age pension-related policy actions reported in the ESCB dataset. Increases in old-age pensions are found to have a positive impact on aggregate expenditure components and employment consistent with a multiplier effect of between 0 and 1.

Keywords: transfer payments; public pensions (search for similar items in EconPapers)
JEL-codes: E2 E62 H55 I38 (search for similar items in EconPapers)
Pages: 41 pages
Date: 2016-12
New Economics Papers: this item is included in nep-mac and nep-pbe
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http://www.bde.es/f/webbde/SES/Secciones/Publicaci ... /16/Fich/dt1629e.pdf First version, December 2016 (application/pdf)

Related works:
Journal Article: The aggregate effects of government income transfers shocks: EU evidence (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:1629

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