Fiscal policy response to the COVID-19 pandemic in the euro area

被引：0

作者：

Tilli, Riccardo ^{[1
]}

D'Imperio, Paolo ^{[2
]}

Fiorelli, Cristiana ^{[3
]}

机构：

[1] Univ Rome, Dept Commun & Social Res Sapienza, Rome, Italy

[2] Italian Minist Econ & Finance, Dept Treasury, Rome, Italy

[3] Univ Naples Parthenope, Dept Econ & Legal Studies, Naples, Italy

来源：

ECONOMICS BULLETIN | 2023年 / 43卷 / 01期

关键词：

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We estimate the macroeconomic impact of fiscal measures adopted in response to the COVID-19 crisis at the euro area level. Given the multitude of shocks occurred simultaneously during the pandemic, the fiscal stimulus is identified together with other supply- and demand-side shocks using a sign and zero restricted Bayesian vector autoregressive (VAR) model. Our results suggest that fiscal policy measures avoided a further collapse of GDP equal to 3.7 percentage points during the two years 2020-2021.

引用

页数：8

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