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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2486

Title: Fiscal Policy Responiveness, Persistence and Discretion
Authors: Afonso, António
Agnello, Luca
Furceri, Davide
Keywords: Fiscal Policy
Fiscal Volatility
Issue Date: 2008
Publisher: ISEG – Departamento de Economia
Citation: Afonso, António, Luca Agnello e Davide Furceri. 2008. "Fiscal Policy Responiveness, Persistence and Discretion". Instituto Superior de Economia e Gestão - DE Working papers nº 50-2008/DE/UECE
Series/Report no.: DE Working papers;nº 50-2008/DE/UECE
Abstract: 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.
URI: http://hdl.handle.net/10400.5/2486
ISSN: 0874-4548
Publisher version: https://aquila1.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=29838
Appears in Collections:UECE - Documentos de Trabalho / UECE - Working Papers
DE - Documentos de trabalho / Working Papers

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