Mercredi | 2017-03-01
We estimate, following a PVAR methodology, the fiscal multipliers of the E(M)U members and candidates. We perform our analysis on four groups of European countries, focusing specifically on CEE countries as Albania, Macedonia, Serbia and Turkey. Our results suggest that, in the short run, the EU candidates exhibit the highest values of their spending multipliers. Furthermore, being an EU member seems to affect in particular the spending multiplier, in the short run. Tax multipliers are stable within all groups of countries, and do not seem to be affected by the EU membership of the analyzed countries. They present only in the long run higher values in the EMU countries, which suggests a better tax collect in this group of countries comparing to the other E(M)U candidates.