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Fiscal Policy Responsiveness, Persistence, and Discretion [electronic resource] / António Afonso, Luca Agnello and Davide Furceri = Réaction au cycle, persistance et effet discrétionnaire de la politique budgétaire / António Afonso, Luca Agnello et Davide Furceri

By: Contributor(s): Material type: ArticleArticleSeries: OECD Economics Department Working Papers ; no.659.Publication details: Paris : OECD Publishing, 2008.Description: 34 p. ; 21 x 29.7cmOther title:
  • Réaction au cycle, persistance et effet discrétionnaire de la politique budgétaire
Subject(s): Other classification:
  • E62
  • H50
Online resources: Abstract: In this working paper, 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 responding to output variations. We also found that while the effect of cross-country covariates is positive (negative) for discretion, it is negative (positive) for persistence, 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.
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Item type Home library Collection Call number Status Date due Barcode Item holds
Working Paper Biblioteca Digital Colección OECD OECD 228864226783 (Browse shelf(Opens below)) Not For Loan
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In this working paper, 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 responding to output variations. We also found that while the effect of cross-country covariates is positive (negative) for discretion, it is negative (positive) for persistence, 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.

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