Pham, B. T., & Sala, H. (2023). Fiscal deficits and the socioeconomic consequences of rebalancing: Insights from a TVP‐VAR with stochastic volatility. Australian Economic Papers, 62(2), 214-235. https://doi.org/10.1111/1467-8454.12286 Resumen: This article connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle phases (Gechert, Horn, & Paetz, 2019); (ii) the unemployment-output trade-off is time varying and may be unstable. The intertwined dynamic behaviour of fiscal deficit shocks […]
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