Browsing DFAEII by Author "Maravalle, Alessandro"
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Can the change in the composition of the US GDP explain the Great Moderation? A test via oil price shocks
Maravalle, Alessandro (University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)The paper investigates whether the growing GDP share of the services sector can contribute to explain the great moderation in the US. We identify and analyze three oil price shocks and use a SVAR analysis to measure their ... -
Fiscal Policy and Economic Stability: Does PIGS stand for Procyclicality In Government Spending?
Claeys, Peter; Maravalle, Alessandro (University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-12)The Financial Crisis has hit particularly hard countries like Ireland or Spain. Procyclical fiscal policy has contributed to a boom-bust cycle that undermined fiscal positions and deepened current account deficits during ... -
The role of the terms of trade in the trade channel of transmission of oil price shocks
Maravalle, Alessandro (University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-12)This paper highlights the role of the terms of trade in the trade channel of propagation of oil price shocks both empirically and theoretically. Empirically, I show that oil price shocks have a large, persistent and ...