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Cyclical Fiscal Policy, Credit Constraints, and Industry Growth

Aghion, Philippe - 2014

This paper analyzes the impact of cyclical fiscal policy on industry growth. Using Rajan and Zingales' (1998) difference-in-difference methodology on a panel data sample of manufacturing industries across 15 OECD countries over the period 1980-2005, we show that industries with relatively...

Persistent link: https://www.econbiz.de/10013067917

The (pro-)cyclicality of government consumption in the EU and official expectations of future output growth: new evidence

Cronin, David; McQuinn, Kieran - 2020

Data from member states' Stability and Convergence Programmes from 2011 to 2018 are used to assess the cyclicality of government consumption in the EU after the European Semester took effect. Econometric estimations, which address endogeneity issues, find the intended (ex-ante) fiscal policy to...

Persistent link: https://www.econbiz.de/10012307910

The Impact of COVID-19 Fiscal Stimulus on the U.S. Economic Recovery

Walmsley, Terrie; Machado, Juan; Rose, Adam; Wei, Dan; … - 2022

We estimate the impact of fiscal stimulus measures enacted in response to COVID-19 on U.S. GDP, investment and exports. We apply a dynamic computable general equilibrium model adept at estimating total direct and indirect effects and their time-path. Initial stimulus bills, including the CARES...

Persistent link: https://www.econbiz.de/10014077357

Withstanding Great Recession Like China

Wen, Yi - 2014

The Great Recession was characterized by two related phenomena: (i) a jobless recovery and (ii) a permanent drop in … unprecedented monetary injections. However, the symptoms of the Great Recession were not observed in China, despite a 45% permanent … shows that China's success in escaping the Great Recession is attributable to its bold and powerful 4 trillion renminbi …

Persistent link: https://www.econbiz.de/10013057359

Can Fiscal Policy Stimulus Boost Economic Recovery?

Agnello, Luca - 2011

We assess the role played by fiscal policy in explaining the dynamics of asset markets. Using a panel of ten industrialized countries, we show that a positive fiscal shock has a negative impact in both stock and housing prices. However, while stock prices immediately adjust to the shock and the...

Persistent link: https://www.econbiz.de/10013127611

Shiller, Robert J. - In: Journal of policy modeling : JPMOD ; a social science … 42 (2020) 4, pp. 791-798

Persistent link: https://www.econbiz.de/10012499081

Shiller, Robert J. - 2020

Persistent link: https://www.econbiz.de/10012319312

Did Fiscal Stimulus Lift Developing Asia Out of the Global Crisis? An Empirical Investigation

Hur, Seok-Kyun - 2018

The substantial slowdown of economic growth since the global financial crisis of 2008-2009 is rekindling debate on whether developing Asia should use fiscal expansion to boost aggregate demand. A key factor in the debate is the effectiveness of countercyclical fiscal policy in the region. The...

Persistent link: https://www.econbiz.de/10012923470

On the interaction between economic growth and business cycles

Mendieta-Muñoz, Ivan - 2014

The present paper studies the interaction between short-run fluctuations and economic growth by presenting empirical evidence of the impact of business cycle fluctuations on the rate of growth consistent with a constant unemployment rate in 13 Latin American and 18 OECD countries during the...

Persistent link: https://www.econbiz.de/10010472893

Public Spending During Growth Accelerations and Decelerations : Exploring the Interaction of the Business Cycle and Control of Corruption

Mendoza, Ronald U. - 2012

The present paper analyzes the cyclicality of public spending on key social, economic and military sectors, including agriculture, education, health, social protection, transportation and military spending using data available for up to 40 developing countries spanning the period from 1980 to...

Persistent link: https://www.econbiz.de/10013112162

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