The cyclical behaviour of fiscal policy: evidence from the OECD

• 成果类型: Article
• 署名作者: Lane, PR
• 署名单位: Trinity College Dublin; Trinity College Dublin
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/S0047-2727(02)00075-0
• 发表日期: 2003
• 页码: 2661-2675
• 关键词: Fiscal policy; volatility; voracity

摘要

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.