Government Investment and the European Stability and Growth Pact (joint with Vadym Lepetyuk)

Economic Perspectives, Federal Reserve Bank of Chicago, 2007, vol. 31, n.3, pp.33-43.

The code for this project is written in Matlab, except for a Stata code that pulls data from the Eurobarometer survey.

Main code for the baseline exercise: it loads the data for all countries, and calls the subroutines for each country and each choice of the depreciation rate: eu8.m

Main code for the Eurobarometer exercise: eu12.m

Subroutine that computes wedges for the case in which gross investment is excluded from the deficit count: hetprob.m

Same as above for net investment: hetprobnet.m

Files that contain demographic data needed as inputs

Mortality by age: eu12mortality.txt

Population structure by age: eu12population.txt

Population growth: eu12popgrowth.txt

Baseline emigration rates: eu8migration.txt

Excel spreadsheet that contains emigration data sent to us by Anna Lööf at Eurostat (note: all other data were downloaded from the Eurostat web site or their publications): emigration.xls

Stata code that handles the Eurobarometer survey data: eu12migration.do

Note: the Eurobarometer data are not freely available, so we cannot include them here.