Utilize este identificador para referenciar este registo:
https://hdl.handle.net/1822/27350
Título: | The determinants of the volatility of fiscal policy discretion |
Autor(es): | Agnello, Luca Sousa, Ricardo M. |
Palavras-chave: | Fiscal policy discretion Volatility Political instability Institutional framework Macroeconomy E63 E31 |
Data: | 2014 |
Editora: | Wiley |
Revista: | Fiscal studies |
Citação: | Agnello, L. and Sousa, R.M. (2014), The Determinants of the Volatility of Fiscal Policy Discretion. Fiscal Studies, 35: 91-115. https://doi.org/10.1111/j.1475-5890.2014.12024.x |
Resumo(s): | We investigate the determinants of the volatility of fiscal policy discretion. Using a linear dynamic panel dataset model for 104 countries from 1980 to 2006 and a system-GMM estimator,we find that more government instability, less democracy and presidentialist systems increase the volatility of the discretionary component of fiscal policy. Additionally, we show that countries with a larger size, a smaller degree of financial openness, and a stable exchange rate system are more insured against the uncertainty about the conduct of fiscal policy. Our results are robust to various regional dummy variables, diferent sub-sets of countries and the presence of high inflation and crisis episodes. |
Tipo: | Artigo |
URI: | https://hdl.handle.net/1822/27350 |
DOI: | 10.1111/j.1475-5890.2014.12024.x |
ISSN: | 1475-5890 |
Versão da editora: | http://onlinelibrary.wiley.com/doi/10.1111/j.1475-5890.2014.12024.x/pdf |
Arbitragem científica: | yes |
Acesso: | Acesso aberto |
Aparece nas coleções: | NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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Determinants of the volatility.pdf | 6,54 MB | Adobe PDF | Ver/Abrir |