Price Differentials in Monetary Unions
The Role of Fiscal Shocks
Datos Bibliográficos
| ID | 9714912 |
|---|---|
| Autores | Fabio Canova (0000-0002-8782-4787, Universitat Pompeu Fabra), Evi Pappa (0000-0002-2393-0142, Universitat Autonòma de Barcelona) |
| Año | 2007 |
| Volumen | 117 |
| Número | 520 |
| Páginas | 713-737 |
| Fecha de publicación | 2007-04-01 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | The Economic Journal (JOURNAL) |
| Identificadores de la revista | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Editorial | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.2007.02047.x |
| OpenAlex | W2125077671 |
| Idioma | EN |
| Citas recibidas | 12 |
| Referencias citadas | 12 |
We study the effect of regional expenditure and revenue shocks on price differentials for 47 US states and 9 EU countries. We identify shocks using sign restrictions on the dynamics of expenditures, revenues, deficits and output and construct two estimates for structural price differentials dynamics, one for the average and one for each unit, which optimally weight information contained in the data for all units. On average, expansionary fiscal disturbances produce positive, while distortionary balance budget shocks produce negative price differential responses. The negative price differentials responses in some units is partially explained by spillovers and labour supply effects. Copyright 2007 The Author(s). Journal compilation Royal Economic Society 2007
Economics · Keynesian economics · Macroeconomics · Monetary economics · Price shock · Fiscal Policies and Political Economy · Fiscal Policy and Economic Growth · Monetary Policy and Economic Impact
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| Obras citantes distintas | 12 |
|---|---|
| Citas por año | 0,71 |
| Intervalo de citas | 2009 - 2024 (16) |
| Velocidad de citación | recent |
| Altamente citado | No |
| Tipos de cita | Neutras: 12 |