کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5097721 | 1478604 | 2016 | 12 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Business cycle determinants and fiscal policy: A Panel ARDL approach for EMU
دانلود مقاله + سفارش ترجمه
دانلود مقاله ISI انگلیسی
رایگان برای ایرانیان
کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
چکیده انگلیسی
In a monetary union, fiscal policy is probably the most important tool in dealing with country-specific fluctuations. This paper addresses some fundamental economic questions regarding the determinants of business cycles in the EMU in the time period 1995- 2012. More precisely, it acknowledges the significant role of fiscal policy and estimates relevant models for EMU countries where trade openness and other crucial variables are investigated. Various relevant econometric techniques have been employed, such as Panel ARDL. Social benefits are found to be the most important variable, whereas capital expenditures and indirect taxes are the major pro-cyclical variables. Furthermore, the formation of the EMU, along with the increasing trade openness, suggests a clear cut countercyclical effect. In other words, the common monetary policy and the deeper financial integration constitute reasons for the decrease in the magnitude of the fluctuations.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The Journal of Economic Asymmetries - Volume 13, June 2016, Pages 57-68
Journal: The Journal of Economic Asymmetries - Volume 13, June 2016, Pages 57-68
نویسندگان
Theofanis Papageorgiou, Panayotis G. Michaelides, Efthymios G. Tsionas,