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Monocotyledons --- Plant husbandry --- Ireland

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The last few years, numerous national stock markets have suffered heavily because of the mismanagement of banks and governments. This resulted in a downward trend which several countries were dragged into. If these governments had been able to optimize their fiscal policy, the worldwide financial crisis would not have been dragging on for so long. In our paper, we take a closer look at the impact of the fiscal policy of Germany, Greece as well as Ireland on the quarterly national stock market indices from 1980Q4 until 2011Q4. By using VAR models, the stock return fluctuations can be explained for around 20-25%, depending on the specific country. For all surveyed countries in this research, only the German government spending has an impact on the national stock returns, which almost amounts to a one-to-one relation. For the inverse relation, none of the surveyed countries show signs of a significant influence of the stock market on the fiscal policy.

Greece --- Ireland --- Germany

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Education --- Education --- Education, Secondary. --- Education, Secondary. --- Education. --- Ireland. --- Switzerland.

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Grazing --- Grazing --- Mixed pastures --- Mixed pastures --- Trifolium repens --- Trifolium repens --- Lolium perenne --- Lolium perenne --- Botanical composition --- Botanical composition --- Models --- Models --- ecological succession --- ecological succession --- Ireland --- Ireland --- Netherlands --- Netherlands

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The last few years, numerous national stock markets have suffered heavily because of the mismanagement of banks and governments. This resulted in a downward trend which several countries were dragged into. If these governments had been able to optimize their fiscal policy, the worldwide financial crisis would not have been dragging on for so long. In our paper, we take a closer look at the impact of the fiscal policy of Germany, Greece as well as Ireland on the quarterly national stock market indices from 1980Q4 until 2011Q4. By using VAR models, the stock return fluctuations can be explained for around 20-25%, depending on the specific country. For all surveyed countries in this research, only the German government spending has an impact on the national stock returns, which almost amounts to a one-to-one relation. For the inverse relation, none of the surveyed countries show signs of a significant influence of the stock market on the fiscal policy.

Financial crisis. --- Fiscal policy. --- Germany. --- Government revenue. --- Government spending. --- Greece. --- Ireland. --- S180-economie. --- Stock returns.