References
- Abrigo, M. R. M., & Love, I. (2016). Estimation of panel vector autoregression in stata: A package of programs (University of Hawaii Working Paper No. 16/2). University of Hawaii, Hawaii.
- Andrés, J., Boscá, J. E., & Ferri, J. (2015). Household Debt and Fiscal Multipliers. Economica, 82, 1048–1081. DOI: https://doi.org/10.1111/ecca.12161
- Auerbach, A. J., & Gorodnichenko, Y. (2010). Measuring the Output Responses to Fiscal Policy (NBER Working Paper No. 16311). National Bureau of Economic Research, Cambridge. DOI: https://doi.org/10.3386/w1631
- Auerbach, A. J., & Gorodnichenko, Y. (2011). Fiscal multipliers in recession and expansion (NBER Working Paper No. 17447). National Bureau of Economic Research, Cambridge. DOI: https://doi.org/10.3386/w17447
- Auerbach, A. J., & Gorodnichenko, Y. (2017). Fiscal Stimulus and Fiscal Sustainability (NBER Working Paper No. 23789). National Bureau of Economic Research, Cambridge. DOI: https://doi.org/10.3386/w23789
- Auerbach, A. J., Gorodnichenko, Y., & Murphy, D. (2021). Inequality, Fiscal Policy and COVID19 Restrictions in a Demand-determined Economy. European Economic Review, 137. DOI: https://doi.org/10.1016/j.euroecorev.2021.103810
- Batini, N., Callegari, G., & Melina, G. (2012). Successful Austerity in the United States, Europe and Japan (IMF Working Paper No. 12/190). International Monetary Fund, Washington.
- Blanchard, O., & Perotti, R. (2002). An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output. Quarterly Journal of Economics, 117(4), 1329–1368. DOI: https://doi.org/10.1162/003355302320935043
- Borsi, T. M. (2018). Fiscal Multipliers across the Credit Cycle. Journal of Macroeconomics, 56, 135–151. DOI: https://doi.org/10.1016/j.jmacro.2018.01.004
- Brinca, P., Ferreira, M. H., Franco, F., Holter, H. A., & Malafry, L. (2021). Fiscal Consolidation Programs and Income Inequality. International Economic Review, 62(1), 405–460. DOI: https://doi.org/10.1111/iere.12482
- Brinca, P., Holter, A. H., Krusell, P., & Malafry, L. (2016). Fiscal Multipliers in the 21st Century. Journal of Monetary Economics, 77, 53–69. DOI: https://doi.org/10.1016/j.jmoneco.2015.09.005
- Broner, F., Clancy, D., Erce, A., & Martin, A. (2022). Fiscal Multipliers and Foreign Holdings of Public Debt. The Review of Economic Studies, 89(3), 1155–1204. DOI: https://doi.org/10.1093/restud/rdab055
- Burriel, P., de Castro, F., Garrote, D., Gordo, E., Paredes, J., & Pérez, J. J. (2009). Fiscal Policy Shocks in the Euro Area and the US. An Empirical Assessment. ECB Working paper No. 1133. ECB, Frankfurt. Retrieved from https://www.ecb.europa.eu//pub/pdf/scpwps/ecbwp1133.pdf
- Ciaffi, G., Deleidi, M., & Di Domenico, L. (2024). Fiscal Policy and Public Debt: Government Investment is most Effective to Promote Sustainability. Journal of Policy Modeling, 46(6), 1186–1209. DOI: https://doi.org/10.1016/j.jpolmod.2024.07.002
- Deleidi, M., Garbellini, N., & Oro, G. (2024). Back to Maastricht: Public Debt Sustainability and the Fiscal Multipliers. International Journal of Political Economy, 53(3), 262–271. DOI: https://doi.org/10.1080/08911916.2024.2391198
- Deskar-Škrbić, M., Šimović, H., & Buljan, A. (2017). Fiscal Multiplier Determinants in the CESEE Region. Journal of Management and Financial Sciences, 10(29), 11–26. DOI: https://doi.org/10.33119/JMFS.2017.29.1
- Giordano, R., Momigliano, S., Neri, S., & Perotti, R. (2007). The Effects of Fiscal Policy in Italy: Evidence from a VAR Model. European Journal of Political Economy, 23(3), 707–733. DOI: https://doi.org/10.1016/j.ejpoleco.2006.10.005
- Guo, F., Yan, I. K. M., Chen, T., & Hu, C. T. (2023). Fiscal Multipliers, Monetary efficacy, and Hand-to-Mouth Households. Journal of International Money and Finance, 130, 102743. DOI: https://doi.org/10.1016/j.jimonfin.2022.102743
- Hory, M.-P. (2016). Fiscal Multipliers in Emerging Market Economies: Can We Learn Something from Advanced Economies? International Economics, 146, 59–84. DOI: https://doi.org/10.1016/j.inteco.2015.11.002
- Ianc, N. B., & Turcu, C. (2020). So Alike, yet so Different: Comparing Fiscal Multipliers across EU Members and Candidates. Economic Modelling, 93, 278–298. DOI: https://doi.org/10.1016/j.econmod.2020.07.018
- Ilzetzki, E., Mendoza, E. G., & Végh, C. A. (2013). How Big (Small?) are Fiscal Multipliers? Journal of Monetary Economics, 60(2), 239–254. DOI: http://doi.org/10.1016/j.jmoneco.2012.10.011
- IMF. (2024). International Financial Statistics. IMF Data. Retrieved from https://data.imf.org/?sk=4c514d48-b6ba-49ed-8ab9-52b0c1a0179b&sid=1390030341854.
- Kim, W. (2023). Private Sector Debt Overhang and Government Spending Multipliers: Not all Debts are Alike. European Economic Review, 154, 104439. DOI: https://doi.org/10.1016/j.euroecorev.2023.104439
- Koh, W. C. (2017). Fiscal Multipliers: New Evidence from a Large Panel of Countries. Oxford Economic Papers, 69(3), 569–590. DOI: http://doi.org/10.1093/oep/gpw066
- Lütkepohl, H. (2005). New Introduction to Multiple Time Series Analysis. Berlin: Springer.
- Miyamoto, W., Nguyen, T. L., & Sergeyev, D. (2018). Government Spending Multipliers under the Zero Lower Bound: Evidence from Japan. American Economic Journal: Macroeconomics, 10(3), 247–277. DOI: http://doi.org/10.1257/mac.20170131
- Perotti, R. (2004). Estimating the Effects of Fiscal Policy in OECD Countries (IGIER Working Paper No. 276). Bocconi University, Milano, Italy. Retrieved from https://ssrn.com/abstract=637189.
- Ramey, V. A., & Zubairy, S. (2014, November). Government Spending Multipliers in Good Times and in Bad: Evidence from U.S. Historical Data (NBER Working Paper No. 20719). National Bureau of Economic Research, Cambridge. Retrieved from https://doi.org/10.3386/w20719
- Riera-Crichton, D., Vegh, C. A., & Vuletin, G. (2015). Procyclical and Countercyclical Fiscal Multipliers: Evidence from OECD Countries. Journal of International Money and Finance, 52, 15–31. DOI: https://doi.org/10.1016/j.jimonfin.2014.11.011
- World Bank. (2024). World Development Indicators. World Bank Data. Retrieved from https://databank.worldbank.org/source/world-development-indicators.
- Zurita, J. (2024). Does Household Debt Affect the Size of the Fiscal Multiplier? Macroeconomic Dynamics, 29, 1–25. DOI: https://doi.org/10.1017/S1365100524000075