Type: Working Paper
Fiscal policy and the banking system in Italy : have taxes, public spending and banks been procyclical in the long-run?
Working Paper, CESifo Working Paper, 2008/2242
PILUSO, Giandomenico, RICCIUTI, Roberto, Fiscal policy and the banking system in Italy : have taxes, public spending and banks been procyclical in the long-run?, CESifo Working Paper, 2008/2242 - https://hdl.handle.net/1814/42330
Retrieved from Cadmus, EUI Research Repository
This paper analyses the relations between the banking system fluctuations, on one hand, and taxation and public spending, on the other one, using a VECM methodology. We find some evidence of prociclicality of fiscal policy using variables such as government spending, taxes, and primary surplus. Effects in the opposite direction are much smaller. Results are quite stable over time.
Cadmus permanent link: https://hdl.handle.net/1814/42330
External link: http://hdl.handle.net/10419/26487
Series/Number: CESifo Working Paper; 2008/2242
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