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A note on the relationship between the cyclicality of markups and fiscal policy
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Orientador(es)
Resumo(s)
In this paper, we demonstrate that, in a simple endogenous markup model, the cyclical behavior of government spending. Under plausible parameter assumptions, pro-cyclical spending results in less counter-cyclical mark-ups. We use IV estimators to test cyclicality of government spending in a dataset of 13 OECD countries over 1970-2007 and compare the results to makeup cyclicality implicit in [1] . We confirm a weak version of our theoretical hypothesis. Our paper supplies an explication that reconciles the variety of empirical findings on the cyclical behavior of markups and fiscal policy.
Descrição
Palavras-chave
Business Cycle and Fluctuations Mark-Up Model Fiscal Policy OECD Countries
Contexto Educativo
Citação
Claeysa, Peter and Luís F. Costa .(2012). “A note on the relationship between the cyclicality of markups and fiscal policy”. IREA - Research Institute of Applied Economics, Working Paper 2012/15. (Search PDF in 2024).
Editora
IREA - Research Institute of Applied Economics