| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4802 |
| DP4802 Exchange Rate Volatility and Labour Markets in the CEE Countries | |
| Ansgar Belke; Leo Kaas; Ralph Setzer | |
| 发表日期 | 2004-12-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | We study whether and how fiscal restrictions alter the business cycle features macrovariables for a sample of 48 US states. We also examine the ?typical? transmission properties of fiscal disturbances and the implied fiscal rules of states with different fiscal restrictions. Fiscal constraints are characterized with a number of indicators. There are similarities in second moments of macrovariables and in the transmission properties of fiscal shocks across states with different fiscal constraints. The cyclical response of expenditure differs in size and sometimes in sign, but heterogeneity within groups makes point estimates statistically insignificant. Creative budget accounting is responsible for the pattern. Implications for the design of fiscal rules and the reform of the Stability and Growth Pact are discussed. |
| 主题 | International Macroeconomics |
| 关键词 | Budget restrictions Fiscal policy transmission Policy rules Dynamic panels |
| URL | https://cepr.org/publications/dp4802 |
| 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/533713 |
| 推荐引用方式 GB/T 7714 | Ansgar Belke,Leo Kaas,Ralph Setzer. DP4802 Exchange Rate Volatility and Labour Markets in the CEE Countries. 2004. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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