Essec\Faculty\Model\Contribution {#2216
  #_index: "academ_contributions"
  #_id: "8455"
  #_source: array:26 [
    "id" => "8455"
    "slug" => "the-fiscal-multiplier-in-a-time-of-massive-public-debt-the-euro-area-case"
    "yearMonth" => "2012-07"
    "year" => "2012"
    "title" => "The Fiscal Multiplier in a Time of Massive Public Debt: The Euro Area Case"
    "description" => "VRANCEANU, R. et BESANCENOT, D. (2012). <i>The Fiscal Multiplier in a Time of Massive Public Debt: The Euro Area Case</i>. ESSEC Business School."
    "authors" => array:2 [
      0 => array:3 [
        "name" => "VRANCEANU Radu"
        "bid" => "B00000524"
        "slug" => "vranceanu-radu"
      ]
      1 => array:1 [
        "name" => "BESANCENOT D."
      ]
    ]
    "ouvrage" => ""
    "keywords" => array:4 [
      0 => "Dette publique"
      1 => "Politique fiscale"
      2 => "Risque d'illiquidité"
      3 => "Zone euro"
    ]
    "updatedAt" => "2020-12-17 21:00:33"
    "publicationUrl" => null
    "publicationInfo" => array:3 [
      "pages" => null
      "volume" => null
      "number" => null
    ]
    "type" => array:2 [
      "fr" => "Documents de travail"
      "en" => "Working Papers"
    ]
    "support_type" => array:2 [
      "fr" => "Editeur"
      "en" => "Publisher"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => "Nous étudions l'efficacité d'une relance budgétaire en présence d'une forte dette publique. Une étude empirique basée sur l'observation des pays de l'EU sur la période 1996-2011 montre que le multiplicateur des dépenses diminue avec le ratio dette sur PIB."
      "en" => "This paper argues that in Euro-area economies, where the ECB cannot bail-out financially distressed governments, the fiscal multiplier is adversely affected by the amount of public debt. A regression model on a panel of 26 EU countries over the period 1996-2011 shows that a 10 percentage point increase in the debt-to-GDP ratio is connected to a slowdown in annual growth rates of 0.28 percentage point. Furthermore, the effectiveness of fiscal spending is adversely affected by the amount of public debt; for a debt-to-GDP ratio above 150% the impact on growth of the fiscal stimulus turns negative."
    ]
    "authors_fields" => array:2 [
      "fr" => "Economie"
      "en" => "Economics"
    ]
    "indexedAt" => "2024-11-21T13:21:44.000Z"
    "docTitle" => "The Fiscal Multiplier in a Time of Massive Public Debt: The Euro Area Case"
    "docSurtitle" => "Working Papers"
    "authorNames" => "<a href="/cv/vranceanu-radu">VRANCEANU Radu</a>, BESANCENOT D."
    "docDescription" => "<span class="document-property-authors">VRANCEANU Radu, BESANCENOT D.</span><br><span class="document-property-authors_fields">Economics</span> | <span class="document-property-year">2012</span>"
    "keywordList" => "<a href="#">Dette publique</a>, <a href="#">Politique fiscale</a>, <a href="#">Risque d'illiquidité</a>, <a href="#">Zone euro</a>"
    "docPreview" => "<b>The Fiscal Multiplier in a Time of Massive Public Debt: The Euro Area Case</b><br><span>2012-07 | Working Papers </span>"
    "docType" => "research"
    "publicationLink" => "<a href="#" target="_blank">The Fiscal Multiplier in a Time of Massive Public Debt: The Euro Area Case</a>"
  ]
  +lang: "en"
  +"_type": "_doc"
  +"_score": 8.769787
  +"parent": null
}