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Person
Tugrul Vehbi
Working paper
The effects of fiscal policy in New Zealand: evidence from a VAR model with debt constraints
This paper investigates the macroeconomic effects of fiscal policy in New Zealand using a structural Vector Autoregression (SVAR) model. The model is the five-variable structural vector autoregression (SVAR) framework proposed by Blanchard and Perotti (2005), further augmented to allow for the possibility that taxes, spending...