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Procyclical, Countercyclical and Acyclical Fiscal Policies

Author

Listed:
  • Alina Daniela Vodă

    (“Lucian Blaga†University of Sibiu)

  • Gabriela Dobrotă

    (“Constantin Brâncuși†University of Târgu-Jiu)

  • Loredana Andreea Cristea

    (“Lucian Blaga†University of Sibiu)

Abstract

This study is limited to aspects related to the nature of the applied fiscal policy. An analysis with theoretical elements contributes to the understanding of the characteristics of procyclical, countercyclical and acyclic fiscal policies. Moreover, a description of them based on the fiscal instruments used (government revenues and expenditures) facilitates the capture of the main features and implications on the economies of emerging countries compared to developed countries. The study also includes an analysis of the manifestation of gross domestic product before and after the economic crisis of 2008. The data used are quarterly, seasonally adjusted and deflated by GDP deflator to be expressed in real terms. The results indicated that the shock of the economic crisis destabilized gross domestic product for more than three quarters. The need to implement a fiscal policy optimized according to national specifications is a desideratum in terms of economic growth.

Suggested Citation

  • Alina Daniela Vodă & Gabriela Dobrotă & Loredana Andreea Cristea, 2020. "Procyclical, Countercyclical and Acyclical Fiscal Policies," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 1101-1108, December.
    • Handle: RePEc:ovi:oviste:v:xx:y:2020:i:2:p:1101-1108
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    procyclical fiscal policy; countercyclical fiscal policy; acyclical fiscal policy; fiscal instruments; economic development;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

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