| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP11654
|
| DP11654 Republicans, Democrats and Budget Deficits: Fiscal Dynamics in Political Perspective |
| José Tavares; Jaime Pereira
|
| 发表日期 | 2016-11-23
|
| 出版年 | 2016
|
| 语种 | 英语
|
| 摘要 | We use an asymmetric cointegration framework to explore politically motivated fiscal asymmetries in the US, from Eisenhower to Obama. We analyze fiscal dynamics in response to deficits as an asymmetric process, sensitive to partisan and electoral motivations, characterizing the response of Republican and Democratic administrations to budget disequilibria. In a novel approach to empirical fiscal policy, we incorporate narrative data in our partisan framework, in order to to distinguish between responses to automatic and discretionary fiscal changes. We conclude that partisanship is a key factor in the fiscal response to budget disequlibria, with Democrats and Republicans exhibiting distinct corrective behavior. On the other hand, the timing of elections does not seem to be a key determinant of the fiscal response to unsustainable budget deviations. |
| 主题 | Macroeconomics and Growth
; Monetary Economics and Fluctuations
|
| 关键词 | Fiscal dynamics
Asymmetric cointegration approach
Democrats
Republicans
|
| URL | https://cepr.org/publications/dp11654
|
| 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/540468
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推荐引用方式
GB/T 7714 |
José Tavares,Jaime Pereira. DP11654 Republicans, Democrats and Budget Deficits: Fiscal Dynamics in Political Perspective. 2016.
|
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