Article ID Journal Published Year Pages File Type
5054212 Economic Modelling 2013 12 Pages PDF
Abstract
► We apply a TVPMS model to the US revenues and spending. ► We obtain a new structural primary balance. ► US revenues are reactive to stock market prices.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
Using time-varying transition probabilities in Markov switching processes to adjust US fiscal policy for asset prices
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