Fiscal Policy Rules in Practice



References

[1] Afonso, Antonio (2002): “Disturbing the Fiscal Theory of the Price Level: Can it Fit the EU-15?,”
Working Paper No. 1/2002/DE/CISEP, Department of Economics, Technical University of Lisbon.

[2] Bohn, Henning (1998): “The Behaviour of U.S. Public Debt and Deficits,” Quarterly Journal of
Economics, 113(3), 949-63.

[3] Davig, Troy and Eric M. Leeper (2005): “Fluctuating Macro Policies and the Fiscal Theory,”
NBER Working Paper No. 11212, National Bureau of Economic Research.

[4] Fatas, Antonio and Ilian Mihov (2001): “Government Size and Automatic Stabilizers: International
and Intranational Evidence,” Journal of International Economics, 55(1), 3-28.

[5] Gali, Jordi and Roberto Perotti (2003): “Fiscal policy and monetary integration in Europe,”
Economic Policy, 18(37), 533-72.

[6] Hamilton, James D. (1989): “A new Approach to the Economic Analysis of Nonstationary Time
Series and the Business Cycle,” Econometrica, 57(2), 357-384.

[7] Harris, Glen R. (1999): “Markov Chain Monte Carlo Estimation of Regime Switching Vector
Autoregressions,” ASTIN Bulletin, 29(1), 47-80.

[8] Koop, Gary (2003): “Bayesian Econometrics,” Wiley & Sons.

[9] Krolzig, Hans-Martin (1997): “Markov-Switching Vector Autoregressions ,” Springer-Verlag.

[10] Liu, Jun S., Wing H. Wong and Augustine Kong (1994): “Covariance Structure of the Gibbs Sam-
pler with Applications to the Comparison of Estimators and Augmentation Schemes,” Biometrika,
81, 27-40.

[11] McCulloch, Robert E. and Ruey S. Tsay (1994): “Statistical Analysis of Economic Time Series
via Markov Switching Models,” Journal of Time Series Analysis, 15, 521-539.

[12] Svensson, Lars E.O. (2001): “Independent Review of the Operation of Monetary Policy in New
Zealand: Report to the Minister of Finance,” mimeo.

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