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The effects of fiscal policy after the global recession: Assessing the evidences

Author

Listed:
  • Luiz Fernando de Paula
  • Manoel Carlos de Castro Pires

Abstract

This paper offers a commented review of the most recent empirical studies of the effects of fiscal contraction on economic growth which have helped underpin the prescription that fiscal policy should be expansionary in coming years in order to contain economic semi-stagnation in the developed countries. The paper shows that there is ample literature showing that fiscal expansion helps the economy grow, and that fiscal contraction tends to reduce output and employment in the short term. JEL Classification: E61; E62; H3.

Suggested Citation

  • Luiz Fernando de Paula & Manoel Carlos de Castro Pires, 2013. "The effects of fiscal policy after the global recession: Assessing the evidences," Brazilian Journal of Political Economy, Center of Political Economy, vol. 33(2), pages 315-321.
    • Handle: RePEc:ekm:repojs:v:33:y:2013:i:2:p:315-321:id:314
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    More about this item

    Keywords

    fiscal consolidation; conter-cyclical policy; international financial crisis;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents

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