Publicação
Euro area time-varying cyclicality of fiscal policy
| dc.contributor.author | Afonso, António | |
| dc.contributor.author | Carvalho, Francisco Tiago | |
| dc.date.accessioned | 2021-11-13T17:54:31Z | |
| dc.date.available | 2021-11-13T17:54:31Z | |
| dc.date.issued | 2021-11 | |
| dc.description.abstract | We assess the cyclicality of fiscal policy in the 19 Euro area countries, notably during recessions, for the period 1995-2020. We use a time-varying measure of fiscal cyclicality to describe fiscal policy developments. The results suggest that during recessions discretionary fiscal policy becomes more pro-cyclical, but the overall budget balance becomes more counter- cyclical. Hence, pursuing a Ricardian fiscal regime by more indebted countries leads to higher counter-cyclicality of fiscal policy. Government size reduces counter-cyclicality, as well as trade openness, and financial development has a positive impact on counter-cyclicality. | pt_PT |
| dc.description.version | info:eu-repo/semantics/publishedVersion | pt_PT |
| dc.identifier.citation | Afonso, António e Francisco Tiago Carvalho (2021). "Euro area time-varying cyclicality of fiscal policy". Instituto Superior de Economia e Gestão – REM Working paper series nº 0202 – 2021 | pt_PT |
| dc.identifier.issn | 2184-108X | |
| dc.identifier.uri | http://hdl.handle.net/10400.5/22551 | |
| dc.language.iso | eng | pt_PT |
| dc.peerreviewed | yes | pt_PT |
| dc.publisher | ISEG - REM – Research in Economics and Mathematics | pt_PT |
| dc.relation | Research in Economics and Mathematics | |
| dc.relation.ispartofseries | REM Working paper series;nº 0202 – 2021 | |
| dc.subject | Fiscal Policy | pt_PT |
| dc.subject | Cyclicality | pt_PT |
| dc.subject | Time-varying coefficient | pt_PT |
| dc.subject | Euro area | pt_PT |
| dc.title | Euro area time-varying cyclicality of fiscal policy | pt_PT |
| dc.type | working paper | |
| dspace.entity.type | Publication | |
| oaire.awardNumber | UIDB/05069/2020 | |
| oaire.awardTitle | Research in Economics and Mathematics | |
| oaire.awardURI | info:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F05069%2F2020/PT | |
| oaire.fundingStream | 6817 - DCRRNI ID | |
| project.funder.identifier | http://doi.org/10.13039/501100001871 | |
| project.funder.name | Fundação para a Ciência e a Tecnologia | |
| rcaap.rights | openAccess | pt_PT |
| rcaap.type | workingPaper | pt_PT |
| relation.isProjectOfPublication | 776d1ee1-e5e8-4d3e-9ec5-a8e9decada99 | |
| relation.isProjectOfPublication.latestForDiscovery | 776d1ee1-e5e8-4d3e-9ec5-a8e9decada99 |