文章基本信息
- 标题：On the consequences of procyclical fiscal policy
- 本地全文：下载
- 作者：Richard McManus ; F Gulcin Ozkan
- 期刊名称：Discussion Papers in Economics / Department of Economics, University of York
- 出版年度：2012
- 卷号：2012
- 出版社：University of York
- 摘要：There iswidespreadevidencethatprocyclical scalpolicieshavebeenprevalentindevelop- ing countriesandofteninsomeindustrialnations.Itisthereforesurprisingthat,incontrast to thewealthofstudiesonthesourcesofprocyclicalpolicy,potentialconsequencesofsuch seemingly sub-optimalpolicieshavebeenlargelyignoredintheexistingliterature.Byutilizing a comprehensivesetofindicatorsfrom114countriesfor1950-2010,weaimtoaddressthefol- lowingimportantquestion:doesitmatterwhetheracountryadoptsaprocyclical scalpolicy stance ratherthanacountercyclicalone?Ourresultsproducearesoundingyestothisquestion. We ndthat scallyprocyclicalcountrieshavelowerratesofeconomicgrowth,higherratesof output volatilityandhigherratesofin
ation
- 关键词：cyclicalityof scalpolicy;in;ation;growt
