Atoyan, Ruben; Smith, Dustin; Jaeger, Albert - International Monetary Fund (IMF) - 2012
A push-pull-brake model of capital flows is used to study the effects of fiscal policy changes on private capital flows … to emerging Europe during 2000-07. In the model, countercyclical fiscal policy has two opposing effects on capital … countercyclical fiscal policy once the fiscal stance is adjusted for the automatic effects on the fiscal position of both internal and …