全球智库信息集成服务系统(G2TT): DP2405 Political Risk And Irreversible Investment: Theory And An Application To Quebec

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来源类型	Discussion paper
规范类型	论文
来源ID	DP2405
	DP2405 Political Risk And Irreversible Investment: Theory And An Application To Quebec
	Sumru G. Altug; Fanny S Demers; Michel Demers
发表日期	2000-03-28
出版年	2000
语种	英语
摘要	Several recent studies imply that the response of national saving to fiscal policy is non-monotonic. In this paper, we use two data sets to search for the circumstances in which such non-monotonic responses arise: one refers to a sample of OECD countries, as in previous studies, and one to a sample of developing countries, using recent World Bank data. We find that in both samples non-monotonic effects tend to be associated with large and persistent fiscal impulses. In the OECD such responses are stronger for fiscal contractions than for fiscal expansions: during large fiscal contractions an increase in net taxes has no effect on national saving. High or rapidly growing public debt does not appear to be a good predictor of non-monotonic effects. Using the World Bank data, the situations in which the non-monotonic response of national saving to fiscal policy are not limited to large fiscal contractions. They also occur during large fiscal expansions, and in periods in which debt is accumulating rapidly, regardless of its initial level.
主题	International Macroeconomics
关键词	Fiscal policy National saving
URL	https://cepr.org/publications/dp2405
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/531489
推荐引用方式 GB/T 7714	Sumru G. Altug,Fanny S Demers,Michel Demers. DP2405 Political Risk And Irreversible Investment: Theory And An Application To Quebec. 2000.