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From micro to macro: public policies and aggregate economic performance

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  • Tim Besley

    (Institute for Fiscal Studies and London School of Economics and Bank of England)

Abstract

This paper provides an overview of the link between policy and economic growth. It stresses that while growth, as measured and discussed, is a macroeconomic phenomenon, the best available evidence of policy effectiveness is typically from studies using micro data. It also reiterates the message that divergence between private and social returns is a key part of the evidence needed to discuss what kinds of policy intervention are desirable.

Suggested Citation

  • Tim Besley, 2001. "From micro to macro: public policies and aggregate economic performance," Fiscal Studies, Institute for Fiscal Studies, vol. 22(3), pages 357-374, September.
    • Handle: RePEc:ifs:fistud:v:22:y:2001:i:3:p:357-374
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    File URL: http://www.ifs.org.uk/fs/articles/0046a.pdf
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    Cited by:

    1. Peter Nijkamp & Jacques Poot, Victoria, 2002. "Meta-Analysis of the Impact of Fiscal Policies on Long-Run Growth," Tinbergen Institute Discussion Papers 02-028/3, Tinbergen Institute, revised 23 Apr 2003.
    2. Beraldo, Sergio & Montolio, Daniel & Turati, Gilberto, 2009. "Healthy, educated and wealthy: A primer on the impact of public and private welfare expenditures on economic growth," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(6), pages 946-956, December.
    3. Sergio Beraldo & Daniel Montolio Estivill & Gilberto Turati, 2005. "Healthy, Educated and Wealthy: Is the Welfare State Really Harmful for Growth?," Working Papers in Economics 127, Universitat de Barcelona. Espai de Recerca en Economia.
    4. Nijkamp, Peter & Poot, Jacques, 2004. "Meta-analysis of the effect of fiscal policies on long-run growth," European Journal of Political Economy, Elsevier, vol. 20(1), pages 91-124, March.
    5. Luigi, Bernardi, 2003. "Tax systems and tax reforms in Europe: Rationale and open issue for more radical reforms," MPRA Paper 18041, University Library of Munich, Germany.

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    More about this item

    Keywords

    economic growth; microeconomic policy;

    JEL classification:

    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General

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