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Fiscal Policy Reaction to the Cycle in the OECD : Pro- or Counter-Cyclical?

Égert, Balázs - 2012

This paper analyses the reaction of fiscal policy to the cycle in OECD countries. The results suggest that while overall government balances were counter-cyclical in the past and more so in economic downturns than in upswings, discretionary fiscal policy was neutral on average. However,...

Persistent link: https://www.econbiz.de/10013108041

Fiscal Policies and Business Cycles in an Enlarged Euro Area

Staehr, Karsten - 2008

This paper compares the cyclical properties of fiscal policies across the 12 original eurozone countries and the future members from Central and Eastern Europe. For the sample period 1995-2005, the fiscal balance exhibits less inertia and is more counter-cyclical in Central and Eastern European...

Persistent link: https://www.econbiz.de/10012773620

Rent-Seeking Competition from State Coffers : A Calibrated DSGE Model of the Euro Area

Angelopoulos, Konstantinos - 2006

This paper incorporates an uncoordinated struggle for extra fiscal favors into an otherwise standard Dynamic Stochastic General Equilibrium model. This reflects the popular belief that interest groups compete for privileged transfers and tax treatment at the expense of the general public...

Persistent link: https://www.econbiz.de/10012781542

Manipulating Fiscal Forecasts : Evidence from the German States

Kauder, Bjoern - 2017

We examine whether German state governments manipulated fiscal forecasts before elections. Our data set includes three fiscal measures over the period 1980-2014. The results do not show that electoral motives influenced fiscal forecasts in West German states. By contrast, East German state...

Persistent link: https://www.econbiz.de/10012962666

Optimal Fiscal Policy with Labor Selection

Chugh, Sanjay K. - 2018

This paper characterizes long-run and short-run optimal fiscal policy in the labor selection framework. In a calibrated non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the Ramsey government achieves efficient labor market...

Persistent link: https://www.econbiz.de/10012912678

Cyclical Fiscal Policy, Output Volatility, and Economic Growth

Badinger, Harald - 2021

This paper provides a comprehensive empirical assessment of the relation between the cyclicality of fiscal policy … and institutional characteristics, which we find to be relevant determinants of fiscal cyclicality. There are three main …, is negatively associated with economic growth. Third, there is no direct effect of cyclicality of economic growth other …

Persistent link: https://www.econbiz.de/10013316549

Government Spending Shocks and the Multiplier : New Evidence from the U.S. Based on Natural Disasters

Yang, Weonho - 2012

The literature on estimating macroeconomic effects of fiscal policy requires suitable instruments to identify exogenous and unanticipated spending shocks. So far, the instrument of choice has been military build-ups. This instrument, however, largely limits the analysis to the US as few other...

Persistent link: https://www.econbiz.de/10013097432

Natural Disasters, Government Spending, and the Fiscal Multiplier

Fidrmuc, Jan - 2016

We estimate the fiscal multiplier associated with shocks to government spending. We consider increases in government spending in the U.S. states in the wake of natural disasters to capture spending shocks that are both unexpected and unrelated to the preceding state of the economy. We find that...

Persistent link: https://www.econbiz.de/10013000433

Fiscal Multipliers in a Two-Sector Search and Matching Model

Angelopoulos, Konstantinos - 2015

This paper evaluates the effects of policy interventions on sectoral labour markets and the aggregate economy in a business cycle model with search and matching frictions. We extend the canonical model by including capital-skill complementarity in production, labour markets with skilled and...

Persistent link: https://www.econbiz.de/10013028533

Fiscal Adjustments and Business Cycle Synchronization

Agnello, Luca - 2013

Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of...

Persistent link: https://www.econbiz.de/10013071388

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