| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25012 |
| 来源ID | Working Paper 25012 |
| Fiscal Space and Government-Spending & Tax-Rate Cyclicality Patterns: A Cross-Country Comparison, 1960-2016 | |
| Joshua Aizenman; Yothin Jinjarak; Hien Thi Kim Nguyen; Donghyun Park | |
| 发表日期 | 2018-09-10 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | This paper compares fiscal cyclicality across advanced and developing countries, geographic regions as well as income levels over 1960–2016 period, then identifies factors that explain countries’ government spending and tax-policy cyclicality. Public debt/tax base ratio provides a more robust explanation for government-spending cyclicality than public debt/output ratio but the reverse is true when capital investment is accounted for in government spending. On average, a more indebted (relative to tax base) government spends more in good times and cuts back spending indifferently compared with a low-debt country in bad times. We also find that country’s sovereign wealth fund has a countercyclical effect in our estimation. Finally, the analysis depicts a significant economic impact of an enduring interest-rate rise on fiscal space, that is, a 10% increase of public debt/tax base ratio is associated with an upper bound of 5.9% increase in government-spending procyclicality. |
| 主题 | International Economics ; International Macroeconomics ; Public Economics ; Taxation |
| URL | https://www.nber.org/papers/w25012 |
| 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/582686 |
| 推荐引用方式 GB/T 7714 | Joshua Aizenman,Yothin Jinjarak,Hien Thi Kim Nguyen,et al. Fiscal Space and Government-Spending & Tax-Rate Cyclicality Patterns: A Cross-Country Comparison, 1960-2016. 2018. |
| 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 | ||
| w25012.pdf（1156KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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