Consumption smoothing through fiscal policy in OECD and EU countries:
We measure the amount of smoothing achieved through various components of the government deficit in EU and OECD countries. For EU countries, at the 1-year frequency percent of shocks to GDP are smoothed via government consumption, 18 percent via transfers percent via subsidies, while taxes provide n...
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| Main Authors: | , , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
1998
|
| Series: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
6372 |
| Subjects: | |
| Online Access: | Volltext |
| Summary: | We measure the amount of smoothing achieved through various components of the government deficit in EU and OECD countries. For EU countries, at the 1-year frequency percent of shocks to GDP are smoothed via government consumption, 18 percent via transfers percent via subsidies, while taxes provide no smoothing. The results for OECD countries are similar. Government transfers provide more smoothing of negative than of positive shocks among EU countries. There seems to be no trade-off between high government deficits in a country and the ability to smooth consumption. We find that in countries where there is delegation' of power or where fiscal targets are negotiated effectively by coalition members consumption smoothing via government consumption and government transfers is considerably higher. We interpret this finding as evidence that effective budgetary institutions can accomplish efficient consumption smoothing via government deficit spending and lower average deficits. |
| Physical Description: | 34 S. |
Staff View
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| 520 | |a We measure the amount of smoothing achieved through various components of the government deficit in EU and OECD countries. For EU countries, at the 1-year frequency percent of shocks to GDP are smoothed via government consumption, 18 percent via transfers percent via subsidies, while taxes provide no smoothing. The results for OECD countries are similar. Government transfers provide more smoothing of negative than of positive shocks among EU countries. There seems to be no trade-off between high government deficits in a country and the ability to smooth consumption. We find that in countries where there is delegation' of power or where fiscal targets are negotiated effectively by coalition members consumption smoothing via government consumption and government transfers is considerably higher. We interpret this finding as evidence that effective budgetary institutions can accomplish efficient consumption smoothing via government deficit spending and lower average deficits. | ||
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| id | DE-604.BV011898700 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-09T18:18:12Z |
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| language | English |
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| physical | 34 S. |
| publishDate | 1998 |
| publishDateSearch | 1998 |
| publishDateSort | 1998 |
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| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Arreaza, Adriana Verfasser aut Consumption smoothing through fiscal policy in OECD and EU countries Adriana Arreaza ; Bent E. Sørensen ; Oved Yosha Cambridge, Mass. 1998 34 S. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6372 We measure the amount of smoothing achieved through various components of the government deficit in EU and OECD countries. For EU countries, at the 1-year frequency percent of shocks to GDP are smoothed via government consumption, 18 percent via transfers percent via subsidies, while taxes provide no smoothing. The results for OECD countries are similar. Government transfers provide more smoothing of negative than of positive shocks among EU countries. There seems to be no trade-off between high government deficits in a country and the ability to smooth consumption. We find that in countries where there is delegation' of power or where fiscal targets are negotiated effectively by coalition members consumption smoothing via government consumption and government transfers is considerably higher. We interpret this finding as evidence that effective budgetary institutions can accomplish efficient consumption smoothing via government deficit spending and lower average deficits. Consommation - Politique publique - Pays de l'OCDE - Modèles économétriques ram Consommation - Politique publique - Pays de l'Union eureopéenne - Modèles économétriques ram Dépenses publiques - Pays de l'Union européenne - Modèles économétriques ram Paiements de tranfert - Pays de l'Union eureopéenne - Modèles économétriques ram Paiements de transfert - Pays de l'OCDE - Modèles économétriques ram Politik Ökonometrisches Modell Consumption (Economics) Government policy European Union countries Econometric models Consumption (Economics) Government policy OECD countries Econometric models Deficit financing European Union countries Econometric models Deficit financing OECD countries Econometric models Expenditures, Public European Union countries Econometric models Expenditures, Public OECD countries Econometric models Transfer payments European Union countries Econometric models Transfer payments OECD countries Econometric models Europäische Union. Mitgliedsstaaten Sørensen, Bent E. Verfasser aut Yosha, Oved Verfasser aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6372 (DE-604)BV002801238 6372 http://papers.nber.org/papers/w6372.pdf kostenfrei Volltext |
| spellingShingle | Arreaza, Adriana Sørensen, Bent E. Yosha, Oved Consumption smoothing through fiscal policy in OECD and EU countries National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Consommation - Politique publique - Pays de l'OCDE - Modèles économétriques ram Consommation - Politique publique - Pays de l'Union eureopéenne - Modèles économétriques ram Dépenses publiques - Pays de l'Union européenne - Modèles économétriques ram Paiements de tranfert - Pays de l'Union eureopéenne - Modèles économétriques ram Paiements de transfert - Pays de l'OCDE - Modèles économétriques ram Politik Ökonometrisches Modell Consumption (Economics) Government policy European Union countries Econometric models Consumption (Economics) Government policy OECD countries Econometric models Deficit financing European Union countries Econometric models Deficit financing OECD countries Econometric models Expenditures, Public European Union countries Econometric models Expenditures, Public OECD countries Econometric models Transfer payments European Union countries Econometric models Transfer payments OECD countries Econometric models |
| title | Consumption smoothing through fiscal policy in OECD and EU countries |
| title_auth | Consumption smoothing through fiscal policy in OECD and EU countries |
| title_exact_search | Consumption smoothing through fiscal policy in OECD and EU countries |
| title_full | Consumption smoothing through fiscal policy in OECD and EU countries Adriana Arreaza ; Bent E. Sørensen ; Oved Yosha |
| title_fullStr | Consumption smoothing through fiscal policy in OECD and EU countries Adriana Arreaza ; Bent E. Sørensen ; Oved Yosha |
| title_full_unstemmed | Consumption smoothing through fiscal policy in OECD and EU countries Adriana Arreaza ; Bent E. Sørensen ; Oved Yosha |
| title_short | Consumption smoothing through fiscal policy in OECD and EU countries |
| title_sort | consumption smoothing through fiscal policy in oecd and eu countries |
| topic | Consommation - Politique publique - Pays de l'OCDE - Modèles économétriques ram Consommation - Politique publique - Pays de l'Union eureopéenne - Modèles économétriques ram Dépenses publiques - Pays de l'Union européenne - Modèles économétriques ram Paiements de tranfert - Pays de l'Union eureopéenne - Modèles économétriques ram Paiements de transfert - Pays de l'OCDE - Modèles économétriques ram Politik Ökonometrisches Modell Consumption (Economics) Government policy European Union countries Econometric models Consumption (Economics) Government policy OECD countries Econometric models Deficit financing European Union countries Econometric models Deficit financing OECD countries Econometric models Expenditures, Public European Union countries Econometric models Expenditures, Public OECD countries Econometric models Transfer payments European Union countries Econometric models Transfer payments OECD countries Econometric models |
| topic_facet | Consommation - Politique publique - Pays de l'OCDE - Modèles économétriques Consommation - Politique publique - Pays de l'Union eureopéenne - Modèles économétriques Dépenses publiques - Pays de l'Union européenne - Modèles économétriques Paiements de tranfert - Pays de l'Union eureopéenne - Modèles économétriques Paiements de transfert - Pays de l'OCDE - Modèles économétriques Politik Ökonometrisches Modell Consumption (Economics) Government policy European Union countries Econometric models Consumption (Economics) Government policy OECD countries Econometric models Deficit financing European Union countries Econometric models Deficit financing OECD countries Econometric models Expenditures, Public European Union countries Econometric models Expenditures, Public OECD countries Econometric models Transfer payments European Union countries Econometric models Transfer payments OECD countries Econometric models Europäische Union. Mitgliedsstaaten |
| url | http://papers.nber.org/papers/w6372.pdf |
| volume_link | (DE-604)BV002801238 |
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