Dybczak, Kamil; Melecky, Martin - Volkswirtschaftliche Fakultät, … - 2012
This paper investigates the effect of aggregate shocks on the fiscal stance of the EU, and of its old (OMS) and new (NMS) member states over a business cycle. The fiscal stance is measured by the government deficit. To study the impact of aggregate shocks, we use impulse responses derived from a...