Local policy impact can be dispersed in currency unions – Bank of Spain research
The impact of local fiscal policy on employment is more dispersed in economies integrated in currency unions, says research published by the Bank of Spain.
In Jobs multipliers: evidence from a large fiscal stimulus in Spain, Mario Alloza and Carlos Sanz assess the employment effect of a large post-crisis fiscal stimulus in Spain (PlanE). In the wake of the financial crisis, the national government transferred funds to municipalities to carry out local investment projects. PlanE amounted to €13
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Economics
Sarb deputy warns on growth prospects
Cassim says economy is “remarkable for the wrong reasons”
Blanchard and Summers say higher inflation likely to persist
Veteran economists say structural factors are likely to push up neutral rate and inflation
Spain’s De Cos calls for greater ambition in EU fiscal reforms
Redesign of fiscal rules must be supported by wider reform of financial governance, governor says
Dallas Fed research casts doubt on ‘soft landing’
US Fed chair Jerome Powell sees US worker shortages as “more structural than cyclical”
Argentina and Brazil’s currency proposal met with scepticism
Experts say it is unclear whether governments want currency union or trade settlement mechanism
Book notes: The illusion of control, by Jon Danielsson
Jon Danielsson’s book makes a compelling case for a serious rethink on financial crises and risk management
Book notes: Global discord, by Paul Tucker
A curious mix of a book, which attempts to think through how democracies should deal with the rise of Communist China
Malpass says debt relief critical for poor countries
World Bank president says world risks “disorderly default process”