Narrow search
Showing 1 - 6 of 6
Cover Image
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
Cover Image
Consolidating Macroeconomic Adjustment in Brazil
de Mello, Luiz - 2006
Brazil has made considerable progress in recent years towards consolidating macroeconomic stability, which is a key framework condition for sustained growth. Monetary policy continues to respond swiftly to changes in the inflation outlook, anchoring expectations. Fiscal policy has been guided by...
Persistent link: https://www.econbiz.de/10012443088
Cover Image
Brazil's Fiscal Stance during 1995-2005 : The Effect of Indebtedness on Fiscal Policy Over the Business Cycle
de Mello, Luiz - 2006
Brazil's fiscal adjustment since the floating of the real in 1999 has been impressive, even in periods of lacklustre growth. This suggests a remarkable fiscal effort to ensure public debt sustainability. To better gauge the magnitude of this adjustment effort, this paper applies the methodology...
Persistent link: https://www.econbiz.de/10012444388
Cover Image
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
Cover Image
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
Cover Image
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