Most eurozone states experience fiscal spillovers – ECB paper
Eurozone fiscal policy may be especially effective when rate changes have little impact, paper says
Most eurozone states experience positive spillovers if government expenditure expands in the bloc as a whole, a working paper published by the European Central Bank says.
The paper by Mario Alloza et al uses both an empirical and a model-based approach to assess the extent of fiscal expenditure spillovers in the eurozone.
They use quarterly data on the largest eurozone countries, and also look at annual data for 11 states in the bloc. They find that most eurozone countries they survey do have
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