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File: Economics Pdf 126026 | Dt1730e
is fiscal policy more 2017 effective in uncertain times or during recessions mario alloza documentos de trabajo n 1730 is fiscal policy more effective in uncertain times or during recessions ...

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     IS FISCAL POLICY MORE              2017
     EFFECTIVE IN UNCERTAIN TIMES
     OR DURING RECESSIONS?
     Mario Alloza
     Documentos de Trabajo 
     N.º 1730
                  IS FISCAL POLICY MORE EFFECTIVE IN UNCERTAIN TIMES
                  OR DURING RECESSIONS?
                     IS FISCAL POLICY MORE EFFECTIVE IN UNCERTAIN TIMES
                                             (*)
                     OR DURING RECESSIONS? 
                                (**)
                     Mario Alloza 
                     BANCO DE ESPAÑA AND CFM
                     (*) I am grateful to Morten Ravn for valuable advice and to Marco Bassetto, Giancarlo Corsetti, Wouter den Haan, 
                     Pedro Gomes, Valerie Ramey, Vincent Sterk, Mirko Wiederholt and seminar and conference participants at UCL, 
                     University of Cambridge Macroeconomics Workshop, Stockholm School of Economics, ENTER Jamboree 2015, 
                     the 9th Nordic Summer Symposium in Macroeconomics and Bank of Spain for insightful comments.
                     (**) Mario Alloza: Banco de España, Calle Alcalá 48, 28014, Madrid (Spain), m.alloza@bde.es.
                     Documentos de Trabajo. N.º 1730
                     2017
             The Working Paper Series seeks to disseminate original research in economics and fi nance. All papers 
             have been anonymously refereed. By publishing these papers, the Banco de España aims to contribute 
             to economic analysis and, in particular, to knowledge of the Spanish economy and its international 
             environment. 
             The opinions and analyses in the Working Paper Series are the responsibility of the authors and, therefore, 
             do not necessarily coincide with those of the Banco de España or the Eurosystem. 
             The Banco de España disseminates its main reports and most of its publications via the Internet at the 
             following website: http://www.bde.es.
             Reproduction for educational and non-commercial purposes is permitted provided that the source is 
             acknowledged.  
             © BANCO DE ESPAÑA, Madrid, 2017
             ISSN: 1579-8666 (on line)
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...Is fiscal policy more effective in uncertain times or during recessions mario alloza documentos de trabajo n banco espana and cfm i am grateful to morten ravn for valuable advice marco bassetto giancarlo corsetti wouter den haan pedro gomes valerie ramey vincent sterk mirko wiederholt seminar conference participants at ucl university of cambridge macroeconomics workshop stockholm school economics enter jamboree the th nordic summer symposium bank spain insightful comments calle alcala madrid m bde es working paper series seeks disseminate original research nance all papers have been anonymously refereed by publishing these aims contribute economic analysis particular knowledge spanish economy its international environment opinions analyses are responsibility authors therefore do not necessarily coincide with those eurosystem disseminates main reports most publications via internet following website http www reproduction educational non commercial purposes permitted provided that source...

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