期刊
JOURNAL OF PUBLIC ECONOMICS
卷 87, 期 12, 页码 2661-2675出版社
ELSEVIER SCIENCE SA
DOI: 10.1016/S0047-2727(02)00075-0
关键词
fiscal policy; volatility; voracity
类别
This paper addresses the topic of cyclicality in fiscal policy. In particular, we show that the level of cyclicality varies across spending categories and across OECD countries. In line with leading theories of fiscal cyclicality, we show that countries with volatile output and dispersed political power are the most likely to run procyclical fiscal policies. Wage government consumption is highlighted as the most important channel by which these variables affect fiscal cyclicality. (C) 2002 Elsevier B.V. All rights reserved.
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