Fiscal policy responsiveness, persistence and discretion
Autor(a) principal: | |
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Data de Publicação: | 2008 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/2152 |
Resumo: | We decompose fiscal policy in three components: i) responsiveness, ii) persistence and iii) discretion. Using a sample of 132 countries, our results point out that fiscal policy tends to be more persistent than to respond to output conditions. We also found that while the effect of cross-country covariates is positive (negative) for discretion, it is negative (positive) for persistence thereby suggesting that countries with higher persistence have lower discretion and vice versa. In particular, while government size, country size and income have negative effects on the discretion component of fiscal policy, they tend to increase fiscal policy persistence. |
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Fiscal policy responsiveness, persistence and discretionFiscal PolicyFiscal VolatilityWe decompose fiscal policy in three components: i) responsiveness, ii) persistence and iii) discretion. Using a sample of 132 countries, our results point out that fiscal policy tends to be more persistent than to respond to output conditions. We also found that while the effect of cross-country covariates is positive (negative) for discretion, it is negative (positive) for persistence thereby suggesting that countries with higher persistence have lower discretion and vice versa. In particular, while government size, country size and income have negative effects on the discretion component of fiscal policy, they tend to increase fiscal policy persistence.European Central BankRepositório da Universidade de LisboaAfonso, AntónioAgnello, LucaFurceri, Davide2010-06-22T14:04:48Z2008-102008-10-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/2152engAfonso, António, Luca Agnello e Davide Furceri. 2008. "Fiscal policy responsiveness, persistence and discretion". European Central Bank working paper series nº 954-20081725-2806info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:33:23Zoai:www.repository.utl.pt:10400.5/2152Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:50:13.306501Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Fiscal policy responsiveness, persistence and discretion |
title |
Fiscal policy responsiveness, persistence and discretion |
spellingShingle |
Fiscal policy responsiveness, persistence and discretion Afonso, António Fiscal Policy Fiscal Volatility |
title_short |
Fiscal policy responsiveness, persistence and discretion |
title_full |
Fiscal policy responsiveness, persistence and discretion |
title_fullStr |
Fiscal policy responsiveness, persistence and discretion |
title_full_unstemmed |
Fiscal policy responsiveness, persistence and discretion |
title_sort |
Fiscal policy responsiveness, persistence and discretion |
author |
Afonso, António |
author_facet |
Afonso, António Agnello, Luca Furceri, Davide |
author_role |
author |
author2 |
Agnello, Luca Furceri, Davide |
author2_role |
author author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Afonso, António Agnello, Luca Furceri, Davide |
dc.subject.por.fl_str_mv |
Fiscal Policy Fiscal Volatility |
topic |
Fiscal Policy Fiscal Volatility |
description |
We decompose fiscal policy in three components: i) responsiveness, ii) persistence and iii) discretion. Using a sample of 132 countries, our results point out that fiscal policy tends to be more persistent than to respond to output conditions. We also found that while the effect of cross-country covariates is positive (negative) for discretion, it is negative (positive) for persistence thereby suggesting that countries with higher persistence have lower discretion and vice versa. In particular, while government size, country size and income have negative effects on the discretion component of fiscal policy, they tend to increase fiscal policy persistence. |
publishDate |
2008 |
dc.date.none.fl_str_mv |
2008-10 2008-10-01T00:00:00Z 2010-06-22T14:04:48Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.5/2152 |
url |
http://hdl.handle.net/10400.5/2152 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Afonso, António, Luca Agnello e Davide Furceri. 2008. "Fiscal policy responsiveness, persistence and discretion". European Central Bank working paper series nº 954-2008 1725-2806 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
European Central Bank |
publisher.none.fl_str_mv |
European Central Bank |
dc.source.none.fl_str_mv |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799130977145978880 |