Fiscal Convergence, Business Cycle Volatility and Growth:
This paper analyzes the effects of fiscal convergence on business cycle volatility and growth. Using a panel 21 OECD countries (including 11 EMU countries) and 40 years of data, we find that countries with similar government budget positions tend to have smoother business cycles. That is, fiscal con...
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2009
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| Series: | OECD Economics Department Working Papers
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| Subjects: | |
| Online Access: | Volltext |
| Summary: | This paper analyzes the effects of fiscal convergence on business cycle volatility and growth. Using a panel 21 OECD countries (including 11 EMU countries) and 40 years of data, we find that countries with similar government budget positions tend to have smoother business cycles. That is, fiscal convergence (in the form of persistently similar ratios of government surplus/deficit to GDP) is systematically associated with smoother business cycles. We also find evidence that reduced business cycle volatility through higher fiscal convergence stimulates growth. Our empirical results are economically and statistically significant and robust |
| Physical Description: | 1 Online-Ressource (28 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/226475824848 |
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| language | English |
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| spelling | Furceri, Davide Verfasser aut Fiscal Convergence, Business Cycle Volatility and Growth Davide Furceri = Convergence budgétaire, volatilité des cycles économiques et croissance / Davide Furceri Convergence budgétaire, volatilité des cycles économiques et croissance Paris OECD Publishing 2009 1 Online-Ressource (28 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers This paper analyzes the effects of fiscal convergence on business cycle volatility and growth. Using a panel 21 OECD countries (including 11 EMU countries) and 40 years of data, we find that countries with similar government budget positions tend to have smoother business cycles. That is, fiscal convergence (in the form of persistently similar ratios of government surplus/deficit to GDP) is systematically associated with smoother business cycles. We also find evidence that reduced business cycle volatility through higher fiscal convergence stimulates growth. Our empirical results are economically and statistically significant and robust Economics https://doi.org/10.1787/226475824848 Verlag kostenfrei Volltext |
| spellingShingle | Furceri, Davide Fiscal Convergence, Business Cycle Volatility and Growth Economics |
| title | Fiscal Convergence, Business Cycle Volatility and Growth |
| title_alt | Convergence budgétaire, volatilité des cycles économiques et croissance |
| title_auth | Fiscal Convergence, Business Cycle Volatility and Growth |
| title_exact_search | Fiscal Convergence, Business Cycle Volatility and Growth |
| title_exact_search_txtP | Fiscal Convergence, Business Cycle Volatility and Growth |
| title_full | Fiscal Convergence, Business Cycle Volatility and Growth Davide Furceri = Convergence budgétaire, volatilité des cycles économiques et croissance / Davide Furceri |
| title_fullStr | Fiscal Convergence, Business Cycle Volatility and Growth Davide Furceri = Convergence budgétaire, volatilité des cycles économiques et croissance / Davide Furceri |
| title_full_unstemmed | Fiscal Convergence, Business Cycle Volatility and Growth Davide Furceri = Convergence budgétaire, volatilité des cycles économiques et croissance / Davide Furceri |
| title_short | Fiscal Convergence, Business Cycle Volatility and Growth |
| title_sort | fiscal convergence business cycle volatility and growth |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/226475824848 |
| work_keys_str_mv | AT furceridavide fiscalconvergencebusinesscyclevolatilityandgrowth AT furceridavide convergencebudgetairevolatilitedescycleseconomiquesetcroissance |