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Recessioni, cicli e politica fiscale


  • Riccardo Fiorito

    () (Università di Siena)


Cyclical contractions differ from recession phases that are not only much less frequent but also more volatile. A major implication involves fiscal policy stance which in the Oecd area is dominated by automatical responses. Fiscal automatism explains why government spending is often procyclical while discretionary spending confines to about 1/3 of total spending: this happens because most items reflect obligations (pensions, salaries, debt interests) rather than reversible decisions. Thus, in several countries and in Italy in particular, expanding government spending when it was not necessary made impossible using discretionary spending when it was necessary, i.e. during the largest postwar recession.

Suggested Citation

  • Riccardo Fiorito, 2012. "Recessioni, cicli e politica fiscale," Rivista di Politica Economica, SIPI Spa, issue 1, pages 141-164, January-M.
  • Handle: RePEc:rpo:ripoec:y:2012:i:1:p:141-164

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    More about this item


    recessions; business cycle; government spending;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus


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