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of fiscal rules has not shielded these countries from procyclicality, since fiscal policy remains procyclical following …, may be associated with less procyclicality …
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procyclicality of tax policy holds in a more realistic DSGE model calibrated to emerging markets. Finally, we illustrate how larger …
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What do we know about the output effects of fiscal policy in low income countries (LICs)? There are very few empirical studies on the subject. This paper fills this gap by estimating the output effects of government spending shocks in LICs. Our analysis-based on the local projection method-finds...
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