- Additional Authors
- Description
- 35 p.; 21 x 29.7cm.
- Summary
- In this working paper, 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 responding to output variations. We also found that while the effect of cross-country covariates is positive (negative) for discretion, it is negative (positive) for persistence, 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.
- Series Statement
- OECD Economics Department Working Papers, 1815-1973 ; no.659
- Uniform Title
- OECD Economics Department Working Papers, no.659.
- Subject
- Economics
- LCCN
- 10.1787/228864226783
- OCLC
- oecd-lib
- Author
Afonso, António.
- Title
Fiscal Policy Responsiveness, Persistence, and Discretion [electronic resource] / António Afonso, Luca Agnello and Davide Furceri
- Imprint
Paris : OECD Publishing, 2008.
- Series
OECD Economics Department Working Papers, 1815-1973 ; no.659
OECD Economics Department Working Papers, 1815-1973 ; no.659.
- Connect to:
- Indexed Term
Economics
- Added Author
Agnello, Luca.
Furceri, Davide.
- Other Standard Identifier
10.1787/228864226783 doi