| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8342 |
| DP8342 Joint estimates of automatic and discretionary fiscal policy: the OECD 1981-2003 | |
| Jacques MELITZ; Julia Darby | |
| 发表日期 | 2011-04-01 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Official calculations of automatic stabilizers are seriously flawed since they rest on the assumption that the only element of social spending that reacts automatically to the cycle is unemployment compensation. This puts into question many estimates of discretionary fiscal policy. In response, we propose a simultaneous estimate of automatic and discretionary fiscal policy. This leads us, quite naturally, to a tripartite decomposition of the budget balance between revenues, social spending and other spending as a bare minimum. Our headline results for a panel of 20 OECD countries in 1981-2003 are .59 automatic stabilization in percentage-points of primary surplus balances. All of this stabilization remains following discretionary responses during contractions, but arguably only about 3/5 of it remains so in expansions while discretionary behavior cancels the rest. We pay a lot of attention to the impact of the Maastricht Treaty and the SGP on the EU members of our sample and to real time data. |
| 主题 | International Macroeconomics |
| 关键词 | Automatic stabilization Discretionary fiscal policy Government social and health spending Maastricht treaty Real time reaction functions Stability and growth pact |
| URL | https://cepr.org/publications/dp8342 |
| 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/537169 |
| 推荐引用方式 GB/T 7714 | Jacques MELITZ,Julia Darby. DP8342 Joint estimates of automatic and discretionary fiscal policy: the OECD 1981-2003. 2011. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Jacques MELITZ]的文章 |
| [Julia Darby]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Jacques MELITZ]的文章 |
| [Julia Darby]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Jacques MELITZ]的文章 |
| [Julia Darby]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
