期刊名称：Annals of the University of Craiova: Economic Sciences Series
印刷版ISSN：1223-365X
电子版ISSN：1843-3723
出版年度：2014
卷号：1
页码：144-149
语种：English
出版社：Universitaria Craiova
摘要：History has provided sufficient evidence that economic activity does not grow linearly and economic cycles can be easily distinguished,in which periods of growth are followed by periods of recession,stagnation,rising unemployment and widening budget deficits.Cyclical evolution impact on macroeconomic equilibrium requires us to move to a multiannual approach to budget balance and think about adjustments for the fiscal policy mix over the economic cycle,i.e.to pursue higher deficits in periods of recession as a result of tax incentives and some public investment expenditures absolutely necessary to resume growth and the deficits and public debt accumulated will be reduced in further periods.
