Uncertainty and the Transmission of Fiscal Policy

被引：2

作者：

Rosoiu, Iulia ^{[1
]}

机构：

[1] Acad Econ Studies, Tache Ionescu St 11, Bucharest 010352, Romania

来源：

EMERGING MARKETS QUERIES IN FINANCE AND BUSINESS 2014, EMQFB 2014 | 2015年 / 32卷

关键词：

Fiscal Policy; Fiscal Shocks; Vector Autoregressive Model; Romanian Economy;

D O I：

10.1016/S2212-5671(15)01460-4

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This article provides new evidence for the impact of fiscal policy shocks in Romania, using a dataset of fiscal variables for the period 2000q1 - 2014q1. When studying the effects of fiscal policy and uncertainty, a challenge is represented by the identification of the shocks. There are several ways to identify fiscal policy shocks. One approach is the one used in this paper. I used structural vector autoregression model (SVAR) that is a system of simultaneous equations. The baseline model includes GDP and expenditure, while the second model includes in addition an index used as proxy for market volatility. (C) 2015 The Authors. Published by Elsevier B.V.

引用

页码：769 / 776

页数：8

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