Journal article
Fiscal policy and credit spreads: Evidence from a SVAR
Economics bulletin, v 39(2), p1393
01 Jan 2019
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
We study the interaction between fiscal policy, economic activity and credit market conditions using a structural VAR approach similar to that in Blanchard and Perotti (2002). We show that failing to account for the endogenous response of credit spreads to fiscal policy shocks results in the real effects of these shocks being underestimated. We see our results as indicating the presence of a not yet well understood "credit channel of fiscal policy transmission".
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Details
- Title
- Fiscal policy and credit spreads: Evidence from a SVAR
- Creators
- Maria Pia Olivero - Drexel Univ, Philadelphia, PA 19104 USA
- Publication Details
- Economics bulletin, v 39(2), p1393
- Publisher
- Economics Bulletin
- Number of pages
- 12
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Economics (School of Economics)
- Web of Science ID
- WOS:000504882300059
- Other Identifier
- 991019170851604721
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- Web of Science research areas
- Economics