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Fiscal policy, government size and EMU business cycle synchronisation.

Bunyan, S., Duffy, D., Filis, G. and Tingbani, I., 2020. Fiscal policy, government size and EMU business cycle synchronisation. Scottish journal of political economy, 67 (2), 201.

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DOI: 10.1111/sjpe.12233

Abstract

We provide new evidence on the effects of fiscal policy and government size on pairwise business cycle synchronisation in EMU. A novel time-varying framework is employed to estimate business cycle synchronisation and subsequently a panel approach is used to establish the role of fiscal variables in determining the pairwise synchronisation observations across time. The findings suggest similarities in the size of the public sector, yet divergence in fiscal policy stance, matter for the determination of business cycle synchronisation. Hence, increased fiscal federalism in EMU will contribute to increased business cycle synchronisation. Our results remain robust to different specifications and sub-periods.

Item Type:Article
ISSN:0036-9292
Group:Bournemouth University Business School
ID Code:32748
Deposited By: Unnamed user with email symplectic@symplectic
Deposited On:10 Sep 2019 09:21
Last Modified:30 Jun 2020 12:58

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