The macroeconomic effects of the Euro Area?s fiscal consolidation 2011-2013

We simulate the Euro Area's fiscal consolidation between 2011 and 2013 by employing two DSGE models used by the ECB and the European Commission, respectively. The cumulative multiplier amounts to 0.7 and 1.0 in the baseline, but increases to 1.3 with a reasonably calibrated financial accelerato...

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Bibliographic details
Format: Publication
Language: English
Place of publication: 01.01.2015
Data of publication: 2015-01-01
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Online Access: available in Bonn?
Database: OpenAIRE (Open Access)
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