The aggregate effects of government income transfers shocks: EU evidence

Artikel

This paper estimates the aggregate effects of government income transfers shocks for a sample of EU countries. I construct a new measure of transfers shocks based on a dataset by public finance experts of the European System of Central Banks (ESCB). The identification strategy consists of a narrative analysis of policy actions in old age pensions reported in the ESCB dataset. I find that increases in old age pensions have a positive impact on aggregate expenditure components and employment consistent with a multiplier effect between 0 and 1.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: SERIEs - Journal of the Spanish Economic Association ; ISSN: 1869-4195 ; Volume: 14 ; Year: 2023 ; Issue: 1 ; Pages: 1-28

Classification and Topics

• Classification: Wirtschaft ; Fiscal Policy ; Social Security and Public Pensions ; Welfare, Well-Being, and Poverty: Government Programs; Provision and Effects of Welfare Programs
• Subject: European Union ; Fiscal multiplier ; Public pensions ; Transfer payments

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Párraga Rodríguez, Susana
• Event: Veröffentlichung
• (who): Springer
• (where): Heidelberg
• (when): 2023

Further information

• DOI: doi:10.1007/s13209-022-00271-x
• Last update: 10.03.2025, 11:41 AM CET