Utilize este identificador para referenciar este registo:
https://hdl.handle.net/1822/23355
Título: | How best to measure discretionary fiscal policy? Assessing its impact on private spending |
Autor(es): | Agnello, Luca Furceri, Davide Sousa, Ricardo M. |
Palavras-chave: | Discretionary fiscal policy Private spending Crowding-in Crowding-out effects |
Data: | 2013 |
Editora: | Elsevier 1 |
Revista: | Economic Modelling |
Resumo(s): | We develop a novel empirical approach to assess the effect of discretionary fiscal policy on private spending consisting of three stages: 1) extract the discretionary component of fiscal policy by estimating a fiscal policy rule; 2) use the residuals of the first-stage regression to investigate the existence of crowding-in and/or crowding-out effects both in the short and the medium term; and 3) condition the response of private spending on a set of country characteristics. We find that an expansion in discretionary fiscal policy boosts growth in the short term, but is detrimental in the medium term. In addition, the empirical findings suggest that the effect of discretionary fiscal policy on private spending varies across regions and income groups, and depends on countries' economic characteristics such as the level of economic development, trade openness, government and country size. |
Tipo: | Artigo |
URI: | https://hdl.handle.net/1822/23355 |
Versão da editora: | http://www.sciencedirect.com/science/article/pii/S0264999312004105# |
Arbitragem científica: | yes |
Acesso: | Acesso restrito UMinho |
Aparece nas coleções: | NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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how best_RSousa.pdf Acesso restrito! | Documento principal | 577,34 kB | Adobe PDF | Ver/Abrir |