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Di Serio, M., Fragetta, M., Gasteiger, E. & Melina, G. (N/A). The Euro area government spending multiplier in demand- and supply-driven recessions. Oxford Bulletin of Economics and Statistics. N/A

M. D. Serio et al.,  "The Euro area government spending multiplier in demand- and supply-driven recessions", in Oxford Bulletin of Economics and Statistics, vol. N/A, N/A

@article{serioN/A_1721733633129,
	author = "Di Serio, M. and Fragetta, M. and Gasteiger, E. and Melina, G.",
	title = "The Euro area government spending multiplier in demand- and supply-driven recessions",
	journal = "Oxford Bulletin of Economics and Statistics",
	year = "N/A",
	volume = "N/A",
	number = "",
	doi = "10.1111/obes.12626",
	url = "https://onlinelibrary.wiley.com/journal/14680084"
}

TY  - JOUR
TI  - The Euro area government spending multiplier in demand- and supply-driven recessions
T2  - Oxford Bulletin of Economics and Statistics
VL  - N/A
AU  - Di Serio, M.
AU  - Fragetta, M.
AU  - Gasteiger, E.
AU  - Melina, G.
PY  - N/A
SN  - 0305-9049
DO  - 10.1111/obes.12626
UR  - https://onlinelibrary.wiley.com/journal/14680084
AB  - We estimate government spending multipliers in demand- and supply-driven recessions for the Euro Area. Multipliers in a moderately demand-driven recession are two to three times larger than in a moderately supply-driven recession, with the difference between multipliers being non-zero with very high probability. More generally, multipliers are inversely correlated with the deviation of inflation from its trend, implying that the more demand-driven a recession, the higher the multiplier. Multipliers range from 0.5 in supply-driven recessions to about 2 in demand-driven recessions. The econometric approach leverages a factor-augmented interacted vector-autoregression model purified of expectations (FAIPVAR-X). The model captures the time-varying state of the business-cycle including strongly and moderately demand- and supply-driven recessions, by taking the whole distribution of inflation deviations from trend into account.
ER  -