Fiscal rules and fiscal counter-cyclicality

被引：17
|
作者：
Jalles, Joao Tovar [1 ,2 ]
机构：
[1] Nova Sch Business & Econ, Ctr Globalizat & Governance, Campus Campolide, P-1099032 Lisbon, Portugal
[2] UECE Res Unit Complex & Econ, Lisbon, Portugal
来源：
ECONOMICS LETTERS | 2018年 / 170卷
关键词：
Fiscal rules; Weighted least squares; Time-varying coefficients; Fiscal stabilization; Government size; Filtering; BUSINESS-CYCLE; POLICY; LINK;
D O I：
10.1016/j.econlet.2018.06.020
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We assess the effect of fiscal rules on a new time-varying measure of fiscal counter-cyclicality computed for 60 countries over the period 1980-2014. First, we find that fiscal counter-cyclicality is positive and has been increasing over time, being larger in advanced economies. Second, we find that fiscal rules reduce the degree of fiscal counter-cyclicality. The result is especially strong for debt-based rules in advanced economies. Some design features hinder the degree of fiscal counter-cyclicality (such as escape clauses or enforcement procedures), while others (such as transparency) foster it. (C) 2018 Elsevier B.V. All rights reserved.
引用
收藏
页码：159 / 162
页数：4
相关论文
共 50 条
  • [1] Fiscal counter-cyclicality and productive investment: evidence from advanced economies
    Furceri, Davide
    Jalles, Joao Tovar
    [J]. B E JOURNAL OF MACROECONOMICS, 2019, 19 (01):
  • [2] Fiscal Rules and the Cyclicality of Fiscal Policy
    Kamenik, Martin
    [J]. CENTRAL EUROPEAN CONFERENCE IN FINANCE AND ECONOMICS (CEFE2017), 2017, : 359 - 367
  • [3] Identifying fiscal policy (in) effectiveness from the differential counter-cyclicality of government spending in the interwar period
    Martineau, Nicolas-Guillaume
    Smith, Gregor W.
    [J]. CANADIAN JOURNAL OF ECONOMICS-REVUE CANADIENNE D ECONOMIQUE, 2015, 48 (04): : 1291 - 1320
  • [4] Effectiveness and counter-cyclicality of fiscal consolidation under compliance regulation: The case of the Stability and Growth Pact
    Herwartz, Helmut
    Theilen, Bernd
    [J]. ECONOMICS & POLITICS, 2024, 36 (01) : 152 - 176
  • [5] Fiscal rules and the cyclicality of fiscal policy in the East African community
    Mawejje, Joseph
    Odhiambo, Nicholas M.
    [J]. APPLIED ECONOMICS LETTERS, 2024, 31 (15) : 1429 - 1432
  • [6] Fiscal rules and tax policy cyclicality?
    Chrysanthakopoulos, Christos
    Tagkalakis, Athanasios
    [J]. ECONOMICS LETTERS, 2023, 225
  • [7] Assessing the impact of fiscal rules on the cyclicality of government expenditures
    Kudrin, Alexey L.
    Sokolov, Ilya A.
    Suchkova, Olga V.
    [J]. VOPROSY EKONOMIKI, 2023, (05): : 5 - 22
  • [8] Fiscal cyclicality and EMU
    Benetrix, Agustin S.
    Lane, Philip R.
    [J]. JOURNAL OF INTERNATIONAL MONEY AND FINANCE, 2013, 34 : 164 - 176
  • [9] Promoting Counter-Cyclical Fiscal Policy: Fiscal Rules Versus Institutions
    Kady Keita
    Camelia Turcu
    [J]. Comparative Economic Studies, 2023, 65 : 736 - 781
  • [10] Promoting Counter-Cyclical Fiscal Policy: Fiscal Rules Versus Institutions
    Keita, Kady
    Turcu, Camelia
    [J]. COMPARATIVE ECONOMIC STUDIES, 2023, 65 (04) : 736 - 781
12345