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A Lesson from the South for Fiscal Policy in the US and Other Advanced Countries

Frankel, Jeffrey A. - 2011

American fiscal policy has been procyclical: Washington wasted the expansion period 2001-2007 by running budget deficits, but by 2011 had come to feel constrained by inherited debt to withdraw fiscal stimulus. Chile has achieved countercyclical fiscal policy – saving in booms and easing in...

Persistent link: https://www.econbiz.de/10013124011

A Lesson from the South for Fiscal Policy in the US and Other Advanced Countries

Frankel, Jeffrey A. - Kennedy School of Government, Harvard University - 2011

Persistent link: https://www.econbiz.de/10008873451

On graduation from fiscal procyclicality

Frankel, Jeffrey A.; Vegh, Carlos A.; Vuletin, Guillermo - In: Journal of Development Economics 100 (2013) 1, pp. 32-47

In the past, industrial countries have tended to pursue countercyclical or, at worst, acyclical fiscal policy. In sharp contrast, emerging and developing countries have followed procyclical fiscal policy, thus exacerbating the underlying business cycle. We show that, over the last decade, about...

Persistent link: https://www.econbiz.de/10010591960

On Graduation from Fiscal Procyclicality

Frankel, Jeffrey A.; Vegh, Carlos A.; Vuletin, Guillermo - Kennedy School of Government, Harvard University - 2012

Persistent link: https://www.econbiz.de/10010546974

Over-Optimistic Official Forecasts in the Eurozone and Fiscal Rules

Frankel, Jeffrey A.; Schreger, Jesse - Kennedy School of Government, Harvard University - 2012

Why do countries find it so hard to get their budget deficits under control? Systematic patterns in the errors that official budget agencies make in their forecasts may play an important role. Although many observers have suggested that fiscal discipline can be restored via fiscal rules such as...

Persistent link: https://www.econbiz.de/10010575129

Bias in Official Fiscal Forecasts : Can Private Forecasts Help?

Frankel, Jeffrey A.; Schreger, Jesse - 2016

Government forecasts of GDP growth and budget balances are generally more over-optimistic than private sector forecasts. When official forecasts are especially optimistic relative to private forecasts ex ante, they are more likely also to be over-optimistic relative to realizations ex post. For...

Persistent link: https://www.econbiz.de/10014127348

Economic Structure and the Decision to Adopt a Common Currency

Frankel, Jeffrey A.; Rose, Andrew K. - Institute of Business and Economic Research (IBER), … - 1996

Persistent link: https://www.econbiz.de/10010818081

Economic Structure and the Decision to Adopt a Common Currency

Frankel, Jeffrey A.; Rose, Andrew K. - Institute for International Economic Studies (IIES), … - 1997

Everyone studying EMU cites the theory of Optimum Currency Areas: whether a country like Sweden should join the …) criterion in the future. (Further, even if Sweden does not enter EMU quickly, it will be more likely to satisfy the OCA criteria … to join EMU. <p> We review the OCA theory, highlighting the role of trade links and income links. Then we discuss and …

Persistent link: https://www.econbiz.de/10005648791

NBER International Seminar on Macroeconomics 2004

Clarida, Richard H. (contributor); … - The MIT Press

The NBER International Seminar on Macroeconomics brings together leading American and European economists to discuss a broad range of current issues in global macroeconomics. An international companion to the more American-focused NBER Macroeconomics Annual, this particular volume offers...

Persistent link: https://www.econbiz.de/10005034493

International coordination

Frankel, Jeffrey A. - 2016

Persistent link: https://www.econbiz.de/10011431704