Atoyan, Ruben; Smith, Dustin; Jaeger, Albert - International Monetary Fund (IMF) - 2012
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 … from political feasibility and fiscal policy lag considerations, countercyclical fiscal policy alone is unlikely to be an …