This paper studies how the effects of government spending vary with the economic environment. Using a panel of OECD countries, we identify fiscal shocks as residuals from an estimated spending rule and trace their macroeconomic impact under different conditions regarding the exchange rate...

This paper argues case that a tighter fiscal policy stance can meaningfully support central banks in fighting inflation in both advanced and emerging market economies. While the standard textbook result suggest that monetary policy is much more effective than fiscal policy in battling inflation...

This paper examines the role of structural fiscal policies to promote female labor force participation and reduce gender gaps in labor markets in 26 OECD countries from 2000 to 2019. As both female labor force participation and many explanatory/control variables clearly exhibit non-stationarity...

In this paper, we use quarterly data and a novel database on fiscal policy consolidation announcements, for a sample of advanced economies and emerging markets to quantify the effects of fiscal tightening on inflation expectations. We find that fiscal consolidation announcements reduce inflation...

Nach kurzer Abschwungphase als Folge der weltweiten Rezession im IT-Bereich und der Verunsicherung durch die Anschläge vom 11. September kam es im Jahr 2002 bereits wieder zu einer spürbaren Erholung der US-Wirtschaft. Das Bruttoinlandsprodukt legte mit 2,4% wieder deutlich zu. Getragen war...

Intro -- Contents -- I. INTRODUCTION -- II. MACROECONOMIC VOLATILITY IN LATIN AMERICA: A HISTORICAL PERSPECTIVE -- III. ROLE OF MACROECONOMIC POLICIES -- IV. WHAT'S NEW THIS TIME AROUND? -- V. REMAINING AGENDA -- VI. CONCLUDING REMARKS -- REFERENCES.

The sharp increase in debt in the Caribbean since the mid-1990s has focused attention on the conduct of fiscal policy in the region. This paper aims to diagnose how fiscal policy has behaved during this period by looking at three main cycles of the economy: the business, election, and natural...

This paper documents cyclical patterns of government expenditures in sub-Saharan Africa since 1970 and explains variation between countries and over time. Controlling for endogeneity, it finds government expenditures to be slightly more procyclical in sub-Saharan Africa than in other developing...