What are the effects of fiscal policy on asset markets?

doi:10.1016/j.econmod.2011.03.018

Utilize este identificador para referenciar este registo: https://hdl.handle.net/1822/12847

Registo completo

Campo DC	Valor	Idioma
dc.contributor.author	Afonso, António	-
dc.contributor.author	Sousa, Ricardo M.	-
dc.date.accessioned	2011-07-18T10:07:34Z	-
dc.date.available	2011-07-18T10:07:34Z	-
dc.date.issued	2011	-
dc.identifier.issn	0264-9993	por
dc.identifier.uri	https://hdl.handle.net/1822/12847	-
dc.description.abstract	We investigate the link between fiscal policy shocks and asset markets. Our results show that spending shocks have: a positive and persistent effect on GDP in the U.S. and in the U.K., while for Germany and Italy, such impact is temporary; a positive and persistent effect on housing prices; a negative effect on stock prices; and mixed effects on the price level. A VAR counter-factual exercise suggests that fiscal shocks play a minor role in the asset markets of the U.S. and Germany, and substantially increase the variability of housing and stock prices in the U.K., while government revenue shocks have increased volatility in Italy.	por
dc.description.sponsorship	Fundação para a Ciência e a Tecnologia (FCT)	por
dc.language.iso	eng	por
dc.publisher	Elsevier Science BV	por
dc.rights	restrictedAccess	por
dc.subject	Fiscal policy	por
dc.subject	Housing prices	por
dc.subject	Stock prices	por
dc.title	What are the effects of fiscal policy on asset markets?	por
dc.type	article	por
dc.peerreviewed	yes	por
sdum.publicationstatus	published	por
oaire.citationStartPage	1871	por
oaire.citationEndPage	1890	por
oaire.citationIssue	4	por
oaire.citationTitle	Economic Modelling	por
oaire.citationVolume	28	por
dc.identifier.doi	10.1016/j.econmod.2011.03.018	por
dc.subject.wos	Social Sciences	por
sdum.journal	Economic Modelling	por
Aparece nas coleções:	NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica