Publicação
Cyclicality of fiscal policy : how do eurozone's fiscal stances change during recessions?
| Resumo: | This dissertation presents findings about the cyclicality of fiscal policy in the 19 Eurozone countries during recessions, for the period from 1995 to 2020. A time-varying measure of cyclicality is used to describe both overall and discretionary fiscal policy. The results suggest that during recessions discretionary fiscal policy becomes more pro- cyclical, but overall fiscal policy becomes more counter-cyclical. The results also suggest that the pursuing of a Ricardian fiscal regime by more indebted countries leads to higher counter-cyclicality of fiscal policy. |
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| Autores principais: | Carvalho, Francisco Tiago dos Santos |
| Assunto: | Fiscal Policy Cyclicality Ricardian Regime Recessions Time-varying |
| Ano: | 2021 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório da Universidade de Lisboa |
| Resumo: | This dissertation presents findings about the cyclicality of fiscal policy in the 19 Eurozone countries during recessions, for the period from 1995 to 2020. A time-varying measure of cyclicality is used to describe both overall and discretionary fiscal policy. The results suggest that during recessions discretionary fiscal policy becomes more pro- cyclical, but overall fiscal policy becomes more counter-cyclical. The results also suggest that the pursuing of a Ricardian fiscal regime by more indebted countries leads to higher counter-cyclicality of fiscal policy. |
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