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Government size, composition, volatility and economic growth

Afonso, António; Furceri, Davide - In: European journal of political economy 26 (2010) 4, pp. 517-532

Persistent link: https://www.econbiz.de/10008933778

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

Égert, Balázs - 2010

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/10012445698

Monetary Policy in the Wake of Financial Liberalisation

Blundell-Wignall, Adrian - 1990

indicator value of monetary aggregates and the role of liquidity constraints in the transmission mechanism affecting aggregate … general also display evidence of a reduced role for liquidity constraints in aggregate demand behaviour. The ability of the … authorities to influence market-determined interest rates, a key aspect of monetary transmission in markets where liquidity …

Persistent link: https://www.econbiz.de/10012444145

The Formulation of Monetary Policy : A Reassessment in the Light of Recent Experience

Atkinson, Paul - 1986

This paper reassesses, in the light of recent experience, the formulation of monetary policy in terms of targets for monetary aggregates in the major countries. A number of difficulties which have arisen are discussed: instability of the money-income relationship; constraints created by fiscal...

Persistent link: https://www.econbiz.de/10012445118

A "Credit Crunch"? : The Recent Slowdown in Bank Lending and Its Implications for Monetary Policy

O'Brien, Paul Francis - 1992

This paper examines the recent slowdown in bank lending that has affected several large OECD countries. The analysis begins with a description of the importance of bank credit in the financial systems of the countries considered. The origins of the lending slowdown are analysed - - including the...

Persistent link: https://www.econbiz.de/10012446482

Fiscal Policy Responsiveness, Persistence, and Discretion

Afonso, António; Agnello, Luca; Furceri, Davide - Economics Department, Organisation de Coopération et … - 2008

In this working paper, we decompose fiscal policy in three components: i) responsiveness, ii) persistence and iii) discretion. Using a sample of 132 countries, our results point out that fiscal policy tends to be more persistent than responding to output variations. We also found that while the...

Persistent link: https://www.econbiz.de/10005045613