Arbeitspapier
Fiscal policy responsiveness, persistence and discretion
We decompose fiscal policy in three components: i) responsiveness, ii) persistence and iii) discretion. Using a sample of 132 countries, our results point out that fiscal policy tends to be more persistent than to respond to output conditions. We also found that while the effect of cross-country covariates is positive (negative) for discretion, it is negative (positive) for persistence thereby suggesting that countries with higher persistence have lower discretion and vice versa. In particular, while government size, country size and income have negative effects on the discretion component of fiscal policy, they tend to increase fiscal policy persistence.
- Sprache
-
Englisch
- Erschienen in
-
Series: ECB Working Paper ; No. 954
- Klassifikation
-
Wirtschaft
Fiscal Policy
National Government Expenditures and Related Policies: General
- Thema
-
Fiscal Policy
Fiscal Volatility
Finanzpolitik
Verantwortung
Nachhaltigkeit
Welt
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Afonso, António
Agnello, Luca
Furceri, Davide
- Ereignis
-
Veröffentlichung
- (wer)
-
European Central Bank (ECB)
- (wo)
-
Frankfurt a. M.
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Afonso, António
- Agnello, Luca
- Furceri, Davide
- European Central Bank (ECB)
Entstanden
- 2008
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