Bank of Finland paper attempts to isolate European fiscal multipliers
A discussion paper published by the Bank of Finland has analysed how policy co-ordination and a country's position in the business cycle may lead to a variation in fiscal multipliers throughout Europe.
Matti Viren, author of the paper Sensitivity of Fiscal-Policy Effects to Policy Coordination and Business Cycle Conditions, tests data on 15 European Union countries using a vector autoregressive model, a multi-country model dubbed ‘NiGEM' and an International Monetary Fund model of fiscal
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