Publications

June 7, 2019

Estimating the Impact of the Financial Cycle on Fiscal Policy

We investigate the impact of the financial cycle on the effectiveness of fiscal policy.

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April 18, 2019

Disentangling the effect of household debt on consumption

We estimate the contemporaneous relationship between household debt and consumption for the period 2006 to 2015. Using Dutch administrative data, we fi nd that the average consumption of households with high debt has...

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