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Fiscal Stabilisation Policy and Fiscal Institutions [PDF]
SSRN Electronic Journal, 2006 In this paper we analyse counter-cyclical fiscal policy within the context of a microfounded analysis of business-cycle stabilization. We show that tax and spending instruments can have a useful counter-cyclical role, even after allowing for the distortionary nature of the instruments and the need for debt sustainability.
Campbell Leith, Simon Wren-lewis
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Reinventing Fiscal Policy [PDF]
SSRN Electronic Journal, 2003 Recent developments in macroeconomic policy, in terms of both theory and practice, have elevated monetary policy while downgrading fiscal policy. Monetary policy has focused on the setting of interest rates as the key policy instrument, along with the adoption of inflation targets and the use of monetary policy to target inflation.
Philip Arestis, Malcolm Sawyer
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On the Effectiveness of Monetary Policy and of Fiscal Policy [PDF]
Review of Social Economy, 2003 There has been a major shift within macroeconomic policy over the past two decades or so in terms of the relative importancegiven in both policy and theoretical terms to monetary policy and to fiscal policy with the former gaining considerably inimportance, and the latter being rarely mentioned.
Philip Arestis, Malcolm Sawyer
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Elections, Fiscal Policy and Fiscal Illusion [PDF]
SSRN Electronic Journal, 2010 This paper tests the joint hypotheses that policymakers engage in fiscal policy opportunism and that voters respond by rewarding that opportunism with higher vote margins. Furthermore, it investigates the impact of fiscal illusion on the previous two dimensions.
Paulo Reis Mourão +1 more
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Japan's fiscal policy and fiscal reconstruction [PDF]
International Economics and Economic Policy, 2005 This paper investigates the macroeconomic effects of fiscal policy and the fiscal reconstruction movement in Japan. We first summarize Japan's fiscal policy in recent years and discuss advantages and disadvantages of government deficits. Next, we investigate the macroeconomic effects of Japanese fiscal policy and evaluate the plausibility of non ...
Toshihiro Ihori, Atsushi Nakamoto
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Does carbon mitigation depend on green fiscal policy or green investment?
Environmental Research Letters, 2023 Does carbon mitigation depend on the force of government or the autonomy of enterprises? We should first distinguish the roles of green fiscal policy and corporate green investment to test whether they can independently guide enterprises to reduce carbon
Yufeng Hu +4 more
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Interactions between fiscal and monetary policies: a brief history of a long relationship
Public Sector Economics, 2021 This paper compares and contrasts interactions between monetary and fiscal policies in major economies following the recent pandemic recession with selected episodes from the past, notably the Great Inflation of the 1970s, the Great Moderation of the ...
Dubravko Mihaljek
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Fiscal policy in the BRICs [PDF]
Studies in Nonlinear Dynamics & Econometrics, 2013 Abstract This paper assesses the macroeconomic impact of fiscal policy shocks for four key emerging market economies – Brazil, Russia, India and China (BRICs) – using a fully simultaneous system of equations. We also estimate fiscal policy rules and analyze the importance of nonlinearity using a smooth transition (STR) model.
Fredj Jawadi +2 more
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European Economic Review, 2016 Abstract This paper investigates the macroeconomic effects of fiscal policy in a setting in which private agents receive noisy signals about future shocks to government expenditures. We show how to empirically identify the relative weight of news and noise shocks to government spending and compute the level of noise for Canada, the UK and the US.
Fève, Patrick, Pietrunti, Mario
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How to cushion economic recession caused by the COVID-19 pandemic: Fiscal or monetary policies?
Frontiers in Public Health, 2022 The outbreak of the COVID-19 pandemic has brought the global economy to a crisis: how to choose the optimal policy tools to cope with the external impacts has attracted worldwide attention.
Ya Wu, Yu Luo
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