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Macroeconomic effects of fiscal consolidations in a DSGE model for the Euro Area: does composition matter?

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Figure

Table 1 - Calibration
FIGURE 1 - Impact of government spending cut on debt
FIGURE 3 - Non-productive government spending (monopolistic competition in labor market)
FIGURE 4 - Weakly-productive government spending (monopolistic competition in labor market)
+5

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