Utilize este identificador para referenciar este registo:
https://hdl.handle.net/1822/14598
Título: | Fiscal policy discretion, private spending, and crisis episodes? |
Autor(es): | Agnello, Luca Furceri, Davide Sousa, Ricardo M. |
Palavras-chave: | Fiscal policy discretion GDP growth Private consumption Private investment Crowding-in Crowding-out |
Data: | 2011 |
Editora: | Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE) |
Resumo(s): | In this paper, we assess the impact of fiscal policy discretion on economic activity in the short and medium-term. Using a panel of 132 countries from 1960 to 2008, we find that fiscal policy discretion provides a net stimulus to the economy in the short-run and crowding-in effects are amplified once crisis episodes are controlled for– in particular, banking crises - giving a great scope for fiscal policy stimulus packages. However, crowding-out effects take over in the long-run – especially, in the case of debt crises -, in line with the concerns about long-term debt sustainability. |
Tipo: | Documento de trabalho |
Descrição: | NIPE_WP_31_2011 |
URI: | https://hdl.handle.net/1822/14598 |
Versão da editora: | http://www3.eeg.uminho.pt/economia/nipe/docs/2011/NIPE_WP_31_2011.pdf |
Arbitragem científica: | no |
Acesso: | Acesso aberto |
Aparece nas coleções: | NIPE - Documentos de Trabalho |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
---|---|---|---|---|
NIPE_WP_31_2011.pdf | Documento principal | 940,6 kB | Adobe PDF | Ver/Abrir |