Arbeitspapier
The effects of government spending in the Eurozone
Using a novel rich dataset at the regional level, this paper provides new empirical evidence on the €fiscal transmission mechanism in the Eurozone. Our baseline estimates reveal a government spending relative output multiplier of 2.9, an employment multiplier of 1.9, and a cost per job created of €24,000. Moreover, we €find that a regional €scal stimulus leads to a signi€cant increase in private investment, productivity, durable consumption, and real wages together with a signi€cant rise in total hours worked driven by changes in the extensive margin (total employment), whereas the intensive margin (hours per worker) barely reacts. We estimate only small regional €fiscal spillovers but detect notable state dependencies. Regional fi€scal multipliers are larger in economic recessions, during €fiscal consolidations, and in the core countries of the Eurozone.
- Sprache
-
Englisch
- Erschienen in
-
Series: Sveriges Riksbank Working Paper Series ; No. 400
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Fiscal Policy
Size and Spatial Distributions of Regional Economic Activity
- Thema
-
Fiscal policy
Regional government spending multipliers
Eurozone
ARDECO
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Gabriel, Ricardo Duque
Klein, Mathias
Pessoa, Ana Sofia
- Ereignis
-
Veröffentlichung
- (wer)
-
Sveriges Riksbank
- (wo)
-
Stockholm
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Gabriel, Ricardo Duque
- Klein, Mathias
- Pessoa, Ana Sofia
- Sveriges Riksbank
Entstanden
- 2020
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