Fiscal Policy Responsiveness, Persistence, and Discretion: = Réaction au cycle, persistance et effet discrétionnaire de la politique budgétaire
In this working paper, we decompose fiscal policy in three components: i) responsiveness, ii) persistence and iii) discretion. Using a sample of 132 countries, our results point out that fiscal policy tends to be more persistent than responding to output variations. We also found that while the effe...
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| Main Author: | |
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| Other Authors: | , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2008
|
| Series: | OECD Economics Department Working Papers
no.659 |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | In this working paper, we decompose fiscal policy in three components: i) responsiveness, ii) persistence and iii) discretion. Using a sample of 132 countries, our results point out that fiscal policy tends to be more persistent than responding to output variations. We also found that while the effect of cross-country covariates is positive (negative) for discretion, it is negative (positive) for persistence, suggesting that countries with higher persistence have lower discretion and vice versa. In particular, while government size, country size and income have negative effects on the discretion component of fiscal policy, they tend to increase fiscal policy persistence. |
| Physical Description: | 1 Online-Ressource (34 Seiten) 21 x 29.7cm. |
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| spelling | Afonso, António VerfasserIn aut Fiscal Policy Responsiveness, Persistence, and Discretion = Réaction au cycle, persistance et effet discrétionnaire de la politique budgétaire António, Afonso, Luca, Agnello and Davide, Furceri Réaction au cycle, persistance et effet discrétionnaire de la politique budgétaire Paris OECD Publishing 2008 1 Online-Ressource (34 Seiten) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.659 In this working paper, we decompose fiscal policy in three components: i) responsiveness, ii) persistence and iii) discretion. Using a sample of 132 countries, our results point out that fiscal policy tends to be more persistent than responding to output variations. We also found that while the effect of cross-country covariates is positive (negative) for discretion, it is negative (positive) for persistence, suggesting that countries with higher persistence have lower discretion and vice versa. In particular, while government size, country size and income have negative effects on the discretion component of fiscal policy, they tend to increase fiscal policy persistence. Economics Agnello, Luca MitwirkendeR ctb Furceri, Davide MitwirkendeR ctb |
| spellingShingle | Afonso, António Fiscal Policy Responsiveness, Persistence, and Discretion = Réaction au cycle, persistance et effet discrétionnaire de la politique budgétaire Economics |
| title | Fiscal Policy Responsiveness, Persistence, and Discretion = Réaction au cycle, persistance et effet discrétionnaire de la politique budgétaire |
| title_alt | Réaction au cycle, persistance et effet discrétionnaire de la politique budgétaire |
| title_auth | Fiscal Policy Responsiveness, Persistence, and Discretion = Réaction au cycle, persistance et effet discrétionnaire de la politique budgétaire |
| title_exact_search | Fiscal Policy Responsiveness, Persistence, and Discretion = Réaction au cycle, persistance et effet discrétionnaire de la politique budgétaire |
| title_full | Fiscal Policy Responsiveness, Persistence, and Discretion = Réaction au cycle, persistance et effet discrétionnaire de la politique budgétaire António, Afonso, Luca, Agnello and Davide, Furceri |
| title_fullStr | Fiscal Policy Responsiveness, Persistence, and Discretion = Réaction au cycle, persistance et effet discrétionnaire de la politique budgétaire António, Afonso, Luca, Agnello and Davide, Furceri |
| title_full_unstemmed | Fiscal Policy Responsiveness, Persistence, and Discretion = Réaction au cycle, persistance et effet discrétionnaire de la politique budgétaire António, Afonso, Luca, Agnello and Davide, Furceri |
| title_short | Fiscal Policy Responsiveness, Persistence, and Discretion |
| title_sort | fiscal policy responsiveness persistence and discretion reaction au cycle persistance et effet discretionnaire de la politique budgetaire |
| title_sub | = Réaction au cycle, persistance et effet discrétionnaire de la politique budgétaire |
| topic | Economics |
| topic_facet | Economics |
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