This paper deals with the fiscal behaviour of governments in the 1920s and 1930s. The intention is to see whether there were the same features in government behaviour as in the post-World War II era. In par-ticular, attention is paid to asymmetric fiscal policies, ie the question of whether...

This paper deals with fiscal policy coordination. In particular, it focuses on the question of how fiscal policy can be coordinated inside EMU, where countries still differ considerably in terms of cyclical behaviour and importance of country-specific shocks and well as the fiscal policy...

This paper tries to assess fiscal policy rules in the OECD countries. In particular, we examine whether the EU/EMU countries have had the same rule in terms of the cyclical situation. The analysis is based on a simple VAR model for output growth, inflation and a fiscal indicator. Empirical...

This paper deals with the question whether the automatic fiscal stabilisers are strong enough to solve the problem of asymmetric shocks in the Euro area. The question is important for many reasons, for instance in terms of policy coordination and fiscal federalism. The paper reviews the current...

This paper discusses the fiscal behaviour of EU countries in 1972-1999. It attempts to find out how deficits adjust to changes in interest rates and output growth by examining the hypothesis that the reaction of deficits to output growth is non-linear: relatively small in "good times" and quite...

This paper deals with fiscal policy coordination. In specifically it focuses on the question of how fiscal policy can be coordinated in the world where countries differ a lot in terms of cyclical behaviour and importance of country-specific shocks and well as the fiscal policy multipliers. To...

This paper deals with the fiscal behaviour of governments in the 1920s and 1930s. The intention is to see whether there were the same features in government behaviour as in the post-World War II era. In particular, attention is paid to asymmetric fiscal policies, ie the question of whether...

This paper provides some further tests for the proposition that a larger public sector leads to smaller out-put volatility. Both Gali and Fatas & Mihov have provided some evidence which appears to support this proposition. Their evidence is, however, based on a relatively small sample of...

This paper presents a review of OECD forecasts for the G7 countries for the period 1969 - 1997. The analysis deals with the magnitude, auto-correlation and eventual bias of the errors. In addition, we scrutinize the cyclical behavior of errors and try to identify the relationships between...