| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17619 |
| 来源ID | Working Paper 17619 |
| On Graduation from Fiscal Procyclicality | |
| Jeffrey A. Frankel; Carlos A. Végh; Guillermo Vuletin | |
| 发表日期 | 2011-11-23 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | In the past, industrial countries have tended to pursue countercyclical or, at worst, acyclical fiscal policy. In sharp contrast, emerging and developing countries have followed procyclical fiscal policy, thus exacerbating the underlying business cycle. We show that, over the last decade, about a third of the developing world has been able to escape the procyclicality trap and actually become countercyclical. We then focus on the role played by the quality of institutions, which appears to be a key determinant of a country's ability to graduate. We show that, even after controlling for the endogeneity of institutions and other determinants of ...scal procyclicality, there is a causal link running from stronger institutions to less procyclical or more countercyclical fiscal policy. |
| 主题 | Macroeconomics ; Fiscal Policy ; International Economics ; International Macroeconomics |
| URL | https://www.nber.org/papers/w17619 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575294 |
| 推荐引用方式 GB/T 7714 | Jeffrey A. Frankel,Carlos A. Végh,Guillermo Vuletin. On Graduation from Fiscal Procyclicality. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17619.pdf（264KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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