Government Size and Output Volatility: Should We forsake Automatic Stabilization?
The paper takes stock of the debate on the positive link between output volatility and the size of government-which reflects automatic stabilizers. After a survey of the literature, we show that the contribution of automatic stabilizers to output stability may have disappeared since the 1990s. Howev...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2008
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 08/122 |
| Schlagworte: | |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
| Zusammenfassung: | The paper takes stock of the debate on the positive link between output volatility and the size of government-which reflects automatic stabilizers. After a survey of the literature, we show that the contribution of automatic stabilizers to output stability may have disappeared since the 1990s. However, econometric analysis suggests that the breakdown in the government size-volatility relationship largely reflects temporary developments (better monetary management and financial intermediation). Once these factors are taken into account, the stabilizing role of government size remains important although little extra stability can be gained by expanding public expenditure beyond 40 percent of GDP |
| Beschreibung: | Includes bibliographical references |
| Beschreibung: | 1 Online-Ressource (53 p) |
| ISBN: | 1451869827 9781451869828 |
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| id | DE-604.BV048348369 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:25Z |
| indexdate | 2024-07-10T09:35:33Z |
| institution | BVB |
| isbn | 1451869827 9781451869828 |
| language | English |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Pisani-Ferry, Jean Verfasser aut Government Size and Output Volatility Should We forsake Automatic Stabilization? Pisani-Ferry, Jean Washington, D.C International Monetary Fund 2008 1 Online-Ressource (53 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 08/122 Includes bibliographical references The paper takes stock of the debate on the positive link between output volatility and the size of government-which reflects automatic stabilizers. After a survey of the literature, we show that the contribution of automatic stabilizers to output stability may have disappeared since the 1990s. However, econometric analysis suggests that the breakdown in the government size-volatility relationship largely reflects temporary developments (better monetary management and financial intermediation). Once these factors are taken into account, the stabilizing role of government size remains important although little extra stability can be gained by expanding public expenditure beyond 40 percent of GDP Online-Ausg Economic stabilization European Union countries Monetary policy European Union countries Electronic books Debrun, Xavier Sonstige oth Sapir, André Sonstige oth http://elibrary.imf.org/view/IMF001/09263-9781451869828/09263-9781451869828/09263-9781451869828.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Pisani-Ferry, Jean Government Size and Output Volatility Should We forsake Automatic Stabilization? Economic stabilization European Union countries Monetary policy European Union countries |
| title | Government Size and Output Volatility Should We forsake Automatic Stabilization? |
| title_auth | Government Size and Output Volatility Should We forsake Automatic Stabilization? |
| title_exact_search | Government Size and Output Volatility Should We forsake Automatic Stabilization? |
| title_exact_search_txtP | Government Size and Output Volatility Should We forsake Automatic Stabilization? |
| title_full | Government Size and Output Volatility Should We forsake Automatic Stabilization? Pisani-Ferry, Jean |
| title_fullStr | Government Size and Output Volatility Should We forsake Automatic Stabilization? Pisani-Ferry, Jean |
| title_full_unstemmed | Government Size and Output Volatility Should We forsake Automatic Stabilization? Pisani-Ferry, Jean |
| title_short | Government Size and Output Volatility |
| title_sort | government size and output volatility should we forsake automatic stabilization |
| title_sub | Should We forsake Automatic Stabilization? |
| topic | Economic stabilization European Union countries Monetary policy European Union countries |
| topic_facet | Economic stabilization European Union countries Monetary policy European Union countries |
| url | http://elibrary.imf.org/view/IMF001/09263-9781451869828/09263-9781451869828/09263-9781451869828.xml |
| work_keys_str_mv | AT pisaniferryjean governmentsizeandoutputvolatilityshouldweforsakeautomaticstabilization AT debrunxavier governmentsizeandoutputvolatilityshouldweforsakeautomaticstabilization AT sapirandre governmentsizeandoutputvolatilityshouldweforsakeautomaticstabilization |