Sobrino, César R. - In: Journal of economics, finance & administrative science 18 (2013) 34, pp. 9-15
This study examines causation between the current account and the fiscal surplus and fiscal spending for a commodity … evidence points strongly to reverse causality, that is, the current account causes the fiscal account. However, unlike previous … consumption is not smoothed when positive permanent shocks to the current account occur. In the short run, the fiscal policy has …