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Macroeconomic Volatility : The Policy Lessons from Latin America

Singh, Anoop - 2006

fundamental break with the region's history of boom-bust cycles. The paper traces how this history of macroeconomic volatility and …

Persistent link: https://www.econbiz.de/10012779706

The Case for Restricting Fiscal Policy Discretion

Fatás, Antonio; Mihov, Ilian - 2003

This paper studies the effects of discretionary fiscal policy on output volatility and economic growth. Using data for … significant macroeconomic instability; (2) The volatility of output caused by discretionary fiscal policy lowers economic growth … by more than 0.8 percentage points for every percentage point increase in volatility; (3) Prudent use of fiscal policy is …

Persistent link: https://www.econbiz.de/10014085564

On the Link Between Volatility and Growth

Posch, Olaf; Wälde, Klaus - 2012

of volatility, any variable that influences innovation directly affects volatility and growth. This joint endogeneity is … illustrated by working out the effects through which economies with different tax levels differ in their volatility and growth … process. We obtain analytical measures of macro volatility based on cyclical output and on output growth rates for plausible …

Persistent link: https://www.econbiz.de/10014204793

The output effect of fiscal consolidation plans

Alesina, Alberto; Favero, Carlo A.; Giavazzi, Francesco - 2014 - This version: October 2014

We show that the correct experiment to evaluate the effects of a fiscal adjustment is the simulation of a multi year fiscal plan rather than of individual fiscal shocks. Simulation of fiscal plans adopted by 16 OECD countries over a 30-year period supports the hypothesis that the effects of...

Persistent link: https://www.econbiz.de/10010463614

The Design of Fiscal Adjustments

Alesina, Alberto F. - 2012

This paper offers three results. First, in line with the previous literature we confirm that fiscal adjustments based mostly on the spending side are less likely to be reversed. Second, spending based fiscal adjustments have caused smaller recessions than tax-based fiscal adjustments. Finally,...

Persistent link: https://www.econbiz.de/10013100333

Government size and business cycle volatility : how important are credit constraints?

Leibrecht, Markus; Scharler, Johann - 2012

Persistent link: https://www.econbiz.de/10009571191

The role of automatic stabilizers in business cycle : the case of Indonesia

Kuncoro, Haryo - In: European journal of government and economics : EJGE 10 (2021) 2, pp. 167-184

The use of large fiscal stimulus packages to dampen the impact of Covid-19 recently has raised concerns about the effectiveness of the discretionary fiscal policy. This paper aims at analysing the feasibility of automatic fiscal stabilisers to mitigate economic fluctuations in the case of...

Persistent link: https://www.econbiz.de/10013174018

Learning about fiscal multipliers during the European sovereign debt crisis : evidence from a quasi-natural experiment

Gόrnicka, Lucyna; Kamps, Christophe; Koester, Gerrit; … - 2018

Identifying fiscal multipliers is usually constrained by the absence of a counterfactual scenario. Our new data set allows overcoming this problem by making use of the fact that recommendations under the EU's excessive deficit procedure (EDP) provide both a baseline no-policy-change scenario and...

Persistent link: https://www.econbiz.de/10011856496

How Can Recessions Be Brought to an End? Effects of Macroeconomic Policy Actions on Durations of Recessions

Tas, Bedri Kamil Onur - 2011

This paper analyzes how effective macroeconomic policy actions are in ending recessions. We also investigate which structural factors help the country to get out of recessions, in other words experience shorter recessions. We implement survival regression analysis and conclude that expansionary...

Persistent link: https://www.econbiz.de/10013120859

Boosting Cycles and Stabilization Effects of Fiscal Rules

Valdivia, Daney David - 2011

The dynamic and the structure of the economy determine the effects of political economy shocks, fiscal and monetary policy. Based on a DSGE model and stylized facts for small open economy, we evaluate the effects of fiscal consumption tax shocks on the presence of two fiscal rules in the periods...

Persistent link: https://www.econbiz.de/10013122831