Monetary developments and expansionary fiscal consolidations : evidence from the EMU

Detalhes bibliográficos
Autor(a) principal: Martins, Luís Pedro Marques
Data de Publicação: 2014
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/6905
Resumo: Mestrado em Economia Monetária e Financeira
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spelling Monetary developments and expansionary fiscal consolidations : evidence from the EMUMestrado em Economia Monetária e FinanceiraThis paper provides new insights about the existence of expansionary effects during fiscal consolidations in the Economic and Monetary Union, using annual panel data for 14 European Union countries over the period 1970-2012. Different measures for assessing fiscal consolidations based on the changes in the cyclically adjusted primary balance were calculated. A similar ad-hoc approach was used to compute monetary expansions in order to include them in the assessment of non-Keynesian effects for different budgetary components. Panel fixed effects estimations for private consumption show that, in some cases, when fiscal consolidations are coupled with monetary expansions, the traditional Keynesian signals are reversed for general government final consumption expenditure, social transfers and taxes. Keynesian effects prevail when fiscal consolidations are not matched by a monetary easing. Panel probit estimations suggest that longer and expenditure based consolidations contribute positively for its success, while the opposite holds for the tax based ones.Instituto Superior de Economia e GestãoAfonso, AntónioRepositório da Universidade de LisboaMartins, Luís Pedro Marques2014-07-04T12:53:54Z20142014-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.5/6905engMartins, Luís Pedro Marques (2014). "Monetary developments and expansionary fiscal consolidations : evidence from the EMU". Dissertação de Mestrado, Universidade de Lisboa. Instituto Superior de Economia e Gestão.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:37:42ZPortal AgregadorONG
dc.title.none.fl_str_mv Monetary developments and expansionary fiscal consolidations : evidence from the EMU
title Monetary developments and expansionary fiscal consolidations : evidence from the EMU
spellingShingle Monetary developments and expansionary fiscal consolidations : evidence from the EMU
Martins, Luís Pedro Marques
title_short Monetary developments and expansionary fiscal consolidations : evidence from the EMU
title_full Monetary developments and expansionary fiscal consolidations : evidence from the EMU
title_fullStr Monetary developments and expansionary fiscal consolidations : evidence from the EMU
title_full_unstemmed Monetary developments and expansionary fiscal consolidations : evidence from the EMU
title_sort Monetary developments and expansionary fiscal consolidations : evidence from the EMU
author Martins, Luís Pedro Marques
author_facet Martins, Luís Pedro Marques
author_role author
dc.contributor.none.fl_str_mv Afonso, António
Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Martins, Luís Pedro Marques
description Mestrado em Economia Monetária e Financeira
publishDate 2014
dc.date.none.fl_str_mv 2014-07-04T12:53:54Z
2014
2014-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/6905
url http://hdl.handle.net/10400.5/6905
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Martins, Luís Pedro Marques (2014). "Monetary developments and expansionary fiscal consolidations : evidence from the EMU". Dissertação de Mestrado, Universidade de Lisboa. Instituto Superior de Economia e Gestão.
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Instituto Superior de Economia e Gestão
publisher.none.fl_str_mv Instituto Superior de Economia e Gestão
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
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repository.mail.fl_str_mv
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