Fiscal volatility, financial crises and growth
We use a panel of developed and emerging countries for the period 1970 to 2008 to assess how fiscal policy volatility and financial crises affect growth. We find that economic growth is lower in the presence of more volatile fiscal policy. Moreover, with a financial crisis government spending is stickier than revenue.
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Volume (Year): 19 (2012)
Issue (Month): 18 (December)
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