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Policies to Improve Turkey's Resilience to Financial Market Shocks

Brook, Anne-Marie - 2006

Since the crisis of 2001, an impressive package of fiscal consolidation and institutional reform has created a strong foundation for economic growth. As a result, GDP growth has been strong and stable, inflation has fallen, and the public debt burden has been significantly reduced. Yet the...

Persistent link: https://www.econbiz.de/10012444342

Channels for Narrowing the US Current Account Deficit and Implications for Other Economies

Brook, Anne-Marie - 2004

In this paper the OECD’s interlink model is used to explore several possible channels through which a narrowing of the US current account deficit could occur. The shocks considered include dollar depreciation, fiscal consolidation, and an improvement in the non-price competitiveness of US...

Persistent link: https://www.econbiz.de/10012444349

Stabilization Effects of Social Spending : Empirical Evidence from a Panel of OECD Countries Overcoming the Financial Crisis in the United States

Furceri, Davide - 2009

The aim of this paper is to assess the ability of social spending to smooth output shocks and to provide stabilization. The results show that overall social spending is able to smooth about 16 percent of a shock to GDP. Among its subcategories, social spending devoted to Old Age and Unemployment...

Persistent link: https://www.econbiz.de/10012442859

Government Consumption Volatility and the Size of Nations

Furceri, Davide - 2009

The aim of this paper is to analyze the relation between the volatility of government consumption and country size … countries have more volatile non-discretionary and discretionary government consumption, and also a more volatile government … economies; 3) the relation between government consumption volatility and country size is more negative for functions of …

Persistent link: https://www.econbiz.de/10012444578

Recent and Prospective Trends in Real Long-Term Interest Rates : Fiscal Policy and other Drivers

Brook, Anne-Marie - 2003

This paper documents some features of recent trends in bond yields and discusses the drivers of these trends. This includes a discussion of the relationship between fiscal balances and interest rates -- with a summary of key empirical results from the literature provided in the Appendix. The...

Persistent link: https://www.econbiz.de/10012445594

The Effects of Fiscal Policy on Output : A DSGE Analysis

Furceri, Davide - 2010

consumption and a cut in the wage tax. The results are robust to different parameter calibrations and are economically significant …

Persistent link: https://www.econbiz.de/10012446129

Fiscal Policy Responsiveness, Persistence, and Discretion

Afonso, António - 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/10012447103