Changes in the fiscal stance and the composition of public spending

被引：0

作者：

Juraj Stančík

Timo Välilä

机构：

[1] CERGE-EI—Center for Economic Research and Graduate Education,Economic and Financial Studies Division

[2] Charles University,undefined

[3] and the Economics Institute of the Academy of Sciences of the Czech Republic,undefined

[4] Institute for Prospective Technological Studies (IPTS),undefined

[5] European Commission,undefined

[6] European Investment Bank,undefined

来源：

Empirical Economics | 2012年 / 43卷

关键词：

Fiscal policy; Public expenditure; Fiscal stance; E62; H50; H62; C33;

D O I：

暂无

中图分类号：

学科分类号：

摘要：

We consider the impact of both cyclical and structural changes in the fiscal stance on public spending composition for a panel of EU countries, including individual components of public investment. We find that both cyclically induced and structural changes in the fiscal stance affect the composition of public spending, with fiscal tightening of both types increasing the relative share of investment and loosening favouring consumption expenditure. Of the components of public investment, infrastructure and redistribution respond to cyclical changes in the fiscal stance, while investment in hospitals and schools responds most clearly to structural changes.

引用

页码：199 / 217

页数：18

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