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Can fiscal decentralization alleviate government consumption volatility?

Furceri, Davide; Sacchi, Agnese; Salotti, Simone - Volkswirtschaftliche Fakultät, … - 2014

We analyse how fiscal decentralization affects the volatility of government consumption extending the existing literature that mainly deals with the effects of the former on government size. Using data for 97 developed and developing countries from 1971 to 2010, we find that a higher degree of...

Persistent link: https://www.econbiz.de/10011110027

Average Tax Rate Cyclicality in OECD Countries: A Test of Three Fiscal Policy Theories

Furceri, Davide; Karras, Georgios - In: Southern Economic Journal 77 (2011) 4, pp. 958-972

This article investigates the cyclical properties of the average effective tax rate in 26 OECD countries over 1965 …–2003 to test the validity of three theories of fiscal policy: (i) the standard Keynesian theory, which recommends that tax … policy should be countercyclical; (ii) the Tax Smoothing hypothesis, which implies that changes in GDP should be uncorrelated …

Persistent link: https://www.econbiz.de/10009421425

How Do Institutions Affect Structural Unemployment in Times of Crises?

Furceri, Davide; Mourougane, Annabelle - In: Panoeconomicus 59 (2012) 4, pp. 393-419

This paper examines the effect of economic crises on structural unemployment using an Autoregressive Distributed Lags model and accounting for the role of institutional settings on an unbalanced panel of 30 OECD economies from 1960 to 2006. We found that downturns have, on average, a significant...

Persistent link: https://www.econbiz.de/10010571596

Government size, composition, volatility and economic growth

Afonso, António; Furceri, Davide - 2008

This paper analyses the effects in terms of size and volatility of government revenue and spending on growth in OECD and EU countries. The results of the paper suggest that both variables are detrimental to growth. In particular, looking more closely at the effect of each component of government...

Persistent link: https://www.econbiz.de/10011604895

Government spending volatility and the size of nations

Furceri, Davide; Poplawski Ribeiro, Marcos - 2008

This paper provides empirical evidence showing that smaller countries tend to have more volatile government spending for a sample of 160 countries from 1960 to 2000. We argue that the larger size of a country decreases the volatility of government spending because it acts as an insurance against...

Persistent link: https://www.econbiz.de/10011604970

Fiscal policy responsiveness, persistence and discretion

Afonso, António; Agnello, Luca; Furceri, Davide - 2008

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 to respond to output conditions. We also found that while the effect of cross-country...

Persistent link: https://www.econbiz.de/10011605000

Assessing long-term fiscal developments - a new approach

Afonso, António; Agnello, Luca; Furceri, Davide; … - 2009

We use a new approach to assess long-term fiscal developments. By analyzing the time varying behaviour of the two components of government spending and revenue - responsiveness and persistence - we are able to infer about the sources of fiscal behaviour. Drawing on quarterly data we estimate...

Persistent link: https://www.econbiz.de/10011605078

Effects of Fiscal Stimulus in Structural Models

Coenen, Günter; Erceg, Christopher J.; Freedman, Charles; … - In: American Economic Journal: Macroeconomics 4 (2012) 1, pp. 22-68

The paper subjects seven structural DSGE models, all used heavily by policymaking institutions, to discretionary fiscal stimulus shocks using seven different fiscal instruments, and compares the results to those of two prominent academic DSGE models. There is considerable agreement across models...

Persistent link: https://www.econbiz.de/10009399100

How do Institutions Affect Structural Unemployment in Times of Crises?

Furceri, Davide; Mourougane, Annabelle - Economics Department, Organisation de Coopération et … - 2009

This paper examines the effect of economic crises on structural unemployment using an Autoregressive Distributed Lags model and accounting for the role of institutional settings. Analysing an unbalanced panel of 30 OECD economies from 1970 to 2008, we found that downturns have, on average, a...

Persistent link: https://www.econbiz.de/10008498031

Assessing Long-Term Fiscal Developments: a New Approach

Afonso, António; Agnello, Luca; Furceri, Davide; … - Núcleo de Investigação em Políticas Económicas … - 2009

We use a new approach to assess long-term fiscal developments. By analyzing the time-varying behaviour of the two components of government spending and revenue – responsiveness and persistence – we are able to infer about the sources of fiscal behaviour. Drawing on quarterly data we estimate...

Persistent link: https://www.econbiz.de/10005771641