IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper

Une politique budgétaire keynésienne neutralisant les stabilisateurs automatiques en haut de cycle : le cas de la France en 2000-2001

  • Frédéric Gonand

    (CECO - Laboratoire d'econometrie de l'école polytechnique - CNRS - Polytechnique - X)

A pro-cyclical keynesian fiscal policy neutralizing the impact of automatic stabilizers: the case of France in 2000-2001. This paper suggests a simple empirical method assessing the impact on growth of public finances in the short-run, namely a) the ex-ante fiscal impulse, b) its ex-post impact on growth and c) the ex-post overall impact on growth of public finances. Applying this method to the expansionary episode of the French fiscal policy in 2000-2001 yields two main results. The aggregate Keynesian multiplier for French public finances is most probably below 1 – which is in line with one of the implications of the neo-ricardian model. The effect on growth of the French pro-cyclical fiscal policy completely offset the impact of the automatic stabilizers during the latest cyclical peak. As a consequence, stimulating the economy during the following cyclical downswing became impossible because no margin of maneuver remained.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: https://hal.archives-ouvertes.fr/hal-00243039/document
Download Restriction: no

Paper provided by HAL in its series Working Papers with number hal-00243039.

as
in new window

Length:
Date of creation: 2006
Date of revision:
Handle: RePEc:hal:wpaper:hal-00243039
Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00243039
Contact details of provider: Web page: https://hal.archives-ouvertes.fr/

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Olivier J. Blanchard, 1984. "Debt, Deficits and Finite Horizons," NBER Working Papers 1389, National Bureau of Economic Research, Inc.
  2. Garry J. Schinasi & Mark Scott Lutz, 1991. "Fiscal Impulse," IMF Working Papers 91/91, International Monetary Fund.
  3. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
  4. Boris Cournède & Frédéric Gonand, 2006. "Restoring Fiscal Sustainability in the Euro Area: Raise Taxes or Curb Spending?," OECD Economics Department Working Papers 520, OECD Publishing.
  5. Sheetal K. Chand, 1992. "Fiscal Impulses and their Fiscal Impact," IMF Working Papers 92/38, International Monetary Fund.
  6. Frédéric Gonand, 2005. "Effect on potential growth of non-sustainable public debt dynamics: an application to France," Working Papers hal-00242973, HAL.
  7. Olivier Jean Blanchard, 1990. "Suggestions for a New Set of Fiscal Indicators," OECD Economics Department Working Papers 79, OECD Publishing.
  8. Robert B. Barsky & N. Gregory Mankiw & Stephen P. Zeldes, 1984. "Ricardian Consumers With Keynesian Propensities," NBER Working Papers 1400, National Bureau of Economic Research, Inc.
  9. repec:dau:papers:123456789/11050 is not listed on IDEAS
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:hal:wpaper:hal-00243039. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.