Sorensen, Bent E.; Arreaza, Adriana; Yosha, Oved - National Bureau of Economic Research (NBER) - 1998
We measure the amount of smoothing achieved through various components of the government deficit in EU and OECD countries. For EU countries, at the 1-year frequency percent of shocks to GDP are smoothed via government consumption, 18 percent via transfers percent via subsidies, while taxes...
