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Procyclical government spending: Patterns of pressure and prudence in the OECD

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  • Abbott, Andrew
  • Jones, Philip
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    Abstract

    This paper tests for differences in the cyclicality of government spending across functional categories. Evidence from 20 OECD countries suggests that procyclicality is more likely in smaller functional budgets, but capital spending is more likely to be procyclical for the larger spending categories.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0165176511000590
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    Bibliographic Info

    Article provided by Elsevier in its journal Economics Letters.

    Volume (Year): 111 (2011)
    Issue (Month): 3 (June)
    Pages: 230-232

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    Handle: RePEc:eee:ecolet:v:111:y:2011:i:3:p:230-232

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    Web page: http://www.elsevier.com/locate/ecolet

    Related research

    Keywords: Business cycles Fiscal policy Voracity effects;

    References

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    1. Arena, Marco & Revilla, Julio E., 2009. "Pro-cyclical fiscal policy in brazil: evidence from the states," Policy Research Working Paper Series 5144, The World Bank.
    2. Talvi, Ernesto & Vegh, Carlos A., 2005. "Tax base variability and procyclical fiscal policy in developing countries," Journal of Development Economics, Elsevier, vol. 78(1), pages 156-190, October.
    3. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
    4. Fiorito, Riccardo & Kollintzas, Tryphon, 1994. "Stylized facts of business cycles in the G7 from a real business cycles perspective," European Economic Review, Elsevier, vol. 38(2), pages 235-269, February.
    5. Zvi Hercowitz & Michel Strawczynski, 2004. "Cyclical Ratcheting in Government Spending: Evidence from the OECD," The Review of Economics and Statistics, MIT Press, vol. 86(1), pages 353-361, February.
    6. Philip R. Lane, 2002. "The Cyclical Behaviour of Fiscal Policy: Evidence from the OECD," Trinity Economics Papers 20022, Trinity College Dublin, Department of Economics.
    7. Pedroni, Peter, 2004. "Panel Cointegration: Asymptotic And Finite Sample Properties Of Pooled Time Series Tests With An Application To The Ppp Hypothesis," Econometric Theory, Cambridge University Press, vol. 20(03), pages 597-625, June.
    8. Akitoby, Bernardin & Clements, Benedict & Gupta, Sanjeev & Inchauste, Gabriela, 2006. "Public spending, voracity, and Wagner's law in developing countries," European Journal of Political Economy, Elsevier, vol. 22(4), pages 908-924, December.
    9. John Hills, 2002. "Following or Leading Public Opinion? Social Security Policy and Public Attitudes Since 1997," Fiscal Studies, Institute for Fiscal Studies, vol. 23(4), pages 539-558, December.
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    Citations

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    Cited by:
    1. Szarowska, Irena, 2011. "Development and the cyclicality of government spending in the Czech Republic," MPRA Paper 32353, University Library of Munich, Germany.
    2. Abbott, Andrew & Jones, Philip, 2012. "Budget deficits and social protection: Cyclical government expenditure in the OECD," Economics Letters, Elsevier, vol. 117(3), pages 909-911.
    3. Andrew Abbott & Philip Jones, 2013. "Procyclical government spending: a public choice analysis," Public Choice, Springer, vol. 154(3), pages 243-258, March.
    4. Makkonen, Teemu, 2013. "Government science and technology budgets in times of crisis," Research Policy, Elsevier, vol. 42(3), pages 817-822.

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