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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
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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
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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
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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
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The Korean Financial System : Overcoming the Global Financial Crisis and Addressing Remaining Problems
Tsutsumi, Masahiko - 2010
The intensification of the global financial crisis in late 2008 led to large capital outflows from Korea and turmoil in its capital markets. However, the prompt response by the government and the central bank stabilised Korea’s financial sector in early 2009 and recovery followed relatively...
Persistent link: https://www.econbiz.de/10012446510