Fiscal Policy and Macroeconomic Stability: New Evidence and Policy Implications

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The paper revisits the empirical link between fiscal policy and macroeconomic stability. Our basic presumption is that by definition, the operation of automatic stabilizers should always and everywhere contribute to greater macroeconomic stability (output and consumption). However, two stylized fact...

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Autores principales: Debrun, Xavier, Kapoor, Radhicka
Formato: Artículo revista
Lenguaje:Inglés
Publicado: Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. 2010
Materias:
economic stabilization
fiscal policy
fiscal stability
E62
H6
estabilización económica
política fiscal
estabilidad fiscal
Acceso en línea:https://revistas.unc.edu.ar/index.php/REyE/article/view/4107
Aporte de:
Revistas de la UNC de Universidad Nacional de Córdoba
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record_format ojs
institution Universidad Nacional de Córdoba
institution_str I-10
repository_str R-10
container_title_str Revistas de la UNC
language Inglés
format Artículo revista
topic economic stabilization
fiscal policy
fiscal stability
E62
H6
estabilización económica
política fiscal
estabilidad fiscal
E62
H6
spellingShingle economic stabilization
fiscal policy
fiscal stability
E62
H6
estabilización económica
política fiscal
estabilidad fiscal
E62
H6
Debrun, Xavier
Kapoor, Radhicka
Fiscal Policy and Macroeconomic Stability: New Evidence and Policy Implications
topic_facet economic stabilization
fiscal policy
fiscal stability
E62
H6
estabilización económica
política fiscal
estabilidad fiscal
E62
H6
author Debrun, Xavier
Kapoor, Radhicka
author_facet Debrun, Xavier
Kapoor, Radhicka
author_sort Debrun, Xavier
title Fiscal Policy and Macroeconomic Stability: New Evidence and Policy Implications
title_short Fiscal Policy and Macroeconomic Stability: New Evidence and Policy Implications
title_full Fiscal Policy and Macroeconomic Stability: New Evidence and Policy Implications
title_fullStr Fiscal Policy and Macroeconomic Stability: New Evidence and Policy Implications
title_full_unstemmed Fiscal Policy and Macroeconomic Stability: New Evidence and Policy Implications
title_sort fiscal policy and macroeconomic stability: new evidence and policy implications
description The paper revisits the empirical link between fiscal policy and macroeconomic stability. Our basic presumption is that by definition, the operation of automatic stabilizers should always and everywhere contribute to greater macroeconomic stability (output and consumption). However, two stylized facts seem at odds with that prediction. First, the moderating effect of automaticstabilizers appears to have weakened in advanced economies betweenthe mid-1990s and 2006 (the end of our main sample). Second, automatic stabilizers do not seem to be effective in developing economies. Our analysisaddresses these apparent puzzles by accounting for the government’s ambivalent role as a shock absorber and a shock inducer for determinants of macroeconomic volatility over time. Results provide strong support for theview that fiscal stabilization operates mainly through automatic stabilizers.
publisher Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba.
publishDate 2010
url https://revistas.unc.edu.ar/index.php/REyE/article/view/4107
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AT kapoorradhicka fiscalpolicyandmacroeconomicstabilitynewevidenceandpolicyimplications
AT debrunxavier politicafiscalyestabilidadmacroeconomicanuevasevidenciaseimplicacionesdepolitica
AT kapoorradhicka politicafiscalyestabilidadmacroeconomicanuevasevidenciaseimplicacionesdepolitica
bdutipo_str Revistas
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