Is fiscal consolidation self-defeating? A panel-VAR analysis for the Euro area countries

Fiscal Spillovers in the Euro Area

This paper analyses the dynamic effects of fiscal imbalances in a given EMU member state on the borrowing costs of other countries in the euro area. The estimation of a multivariate, multi-country time series model (specifically a Global VAR, or GVAR) using quarterly data for the EMU period suggests that euro-denominated government yields are strongly linked with each other. However, financial ...

A Technical Supplement to Exploring the International Linkages of the Euro Area: a Global VAR Analysis

Exploring the International Linkages of the Euro Area: a Global VAR Analysis∗

This paper presents a global model linking individual country vector error-correcting models in which the domestic variables are related to the country-specific variables as an approximate solution to a global common factor model. This global VAR is estimated for 25 countries, the euro area being treated as a single economy. This paper proposes two important extensions of previous research (see...

The Effect of Fiscal Decentralization on Under-five Mortality in Iran: A Panel Data Analysis

Background Fiscal Decentralization (FD) in many cases is encouraged as a strong means of improving the efficiency and equity in the provision of public goods, such as healthcare services. This issue has urged the researchers to experimentally examine the relationship between fiscal decentralization indicators and health outcomes. In this study we examine the effect of Fiscal Decentralization in...

Electricity Demand in MENA Countries: A Panel Cointegration Analysis

Abstract In this study, we applied recently developed panel unit root and cointegration techniques to examine the long-run real income per capita and price elasticities for demand of electricity in selected Middle East and North African (MENA) countries using an annual data series from 1990 to 2011.Our main finding from the panel analysis is that the demand for electricity is highly price ela...