Utilize este identificador para referenciar este registo:
https://hdl.handle.net/1822/38019
Título: | Fiscal and monetary policies in the BRICS: a panel VAR approach |
Autor(es): | Jawadi, Fredj Mallick, Sushanta K. Sousa, Ricardo M. |
Palavras-chave: | Fiscal policy Monetary policy Panel Vector Auto-Regression (PVAR) Emerging markets |
Data: | 2016 |
Editora: | Elsevier |
Revista: | Economic Modelling |
Citação: | Jawadi, F., Mallick, S. K., & Sousa, R. M. (2016). Fiscal and monetary policies in the BRICS: A panel VAR approach. Economic Modelling, 58, 535-542. doi: 10.1016/j.econmod.2015.06.001 |
Resumo(s): | Using a Panel Vector Auto-Regressive (PVAR) model, we assess the macroeconomic impact of fiscal policy and monetary policy shocks for five key emerging market economies—Brazil, Russia, India, China and South Africa (BRICS). We show that monetary contractions lead to a fall in real economic activity and tighten liquidity market conditions, while government spending shocks have strong Keynesian effects. We also find evidence supporting the existence of accommodative stance between fiscal policy and monetary policy, which is crucial for economic and political decision-making. Our results are robust even after controlling for periods of extreme instability, such as economic and financial crises. |
Tipo: | Artigo |
URI: | https://hdl.handle.net/1822/38019 |
DOI: | 10.1016/j.econmod.2015.06.001 |
ISSN: | 0264-9993 |
Versão da editora: | http://www.sciencedirect.com/science/article/pii/S0264999315001455 |
Arbitragem científica: | yes |
Acesso: | Acesso restrito UMinho |
Aparece nas coleções: | NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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Fiscal and monetary policies in the BRICS a panel VAR approach.pdf Acesso restrito! | 3,9 MB | Adobe PDF | Ver/Abrir |