| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19748 |
| 来源ID | Working Paper 19748 |
| Was This Time Different? Fiscal Policy in Commodity Republics | |
| Luis Felipe Céspedes; Andrés Velasco | |
| 发表日期 | 2013-12-19 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | We revisit the issue of fiscal procyclicality in commodity-rich nations -commodity republics in the nomenclature of this paper. Since commodity prices are plausibly a main driver of fiscal policy outcomes in these countries, we focus on the behavior of fiscal variables across the commodity cycle, in contrast to behavior across the output cycle, which has been the main focus of earlier research on fiscal procyclicality. We present evidence of reduced fiscal policy procyclicality in a number of countries. Our empirical results suggest that improvements in institutional quality have led to a more countercyclical fiscal policy stance in a number of countries. The presence of fiscal rules also seems to have made a difference: countries that use them displayed a larger shift toward fiscal counter-cyclicality between the two episodes. |
| 主题 | Macroeconomics ; Fiscal Policy ; International Economics ; International Factor Mobility ; International Finance ; International Macroeconomics ; Public Economics ; National Fiscal Issues |
| URL | https://www.nber.org/papers/w19748 |
| 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/577422 |
| 推荐引用方式 GB/T 7714 | Luis Felipe Céspedes,Andrés Velasco. Was This Time Different? Fiscal Policy in Commodity Republics. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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