Academic literature on the topic 'Fiscla policy'

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Journal articles on the topic "Fiscla policy"

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Franek, Sławomir. "Social Objectives in Polish Fiscal Policy – Spending vs Performance." Journal of Management and Business Administration. Central Europe 24, no. 2 (June 15, 2016): 74–88. http://dx.doi.org/10.7206/jmba.ce.2450-7814.170.

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Vdovychenko, Artem. "Fiscal Policy Reaction Function and Sustainability of Fiscal Policy in Ukraine." Visnyk of the National Bank of Ukraine, no. 240 (June 25, 2017): 22–35. http://dx.doi.org/10.26531/vnbu2017.240.022.

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This study analyzes the fiscal policy reaction function with switching regimes. We use Logistic Smooth Transition Regressions (LSTR) to show that fiscal policy in Ukraine during the study period remained largely in passive mode, switching to active mode during periods of a high output gap and elevated debt-to-GDP ratio. An important finding is that the fiscal policy reaction function is nonlinear. Specifically, the response of fiscal policy to the output gap is asymmetric: fiscal policy is pro-cyclical during periods of economic growth but neutral in recession.
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Yunanto, Muhamad, and Henny Medyawati. "Fiscal Policy and Monetary Policy: Sensitivity Analysis." International Journal of Trade, Economics and Finance 6, no. 2 (April 2015): 79–84. http://dx.doi.org/10.7763/ijtef.2015.v6.447.

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Utama, Zamrud Siswa, M. Khusaini, and Setyo Tri Wahyudi. "Kebijakan Fiskal di Persimpangan, Pro Growth atau Pro Poor?" Indonesian Treasury Review Jurnal Perbendaharaan Keuangan Negara dan Kebijakan Publik 2, no. 2 (September 7, 2017): 67–81. http://dx.doi.org/10.33105/itrev.v2i2.28.

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ABSTRACT Indonesian fiscal policy is designed as pro growth and pro poor. Fiscal space and inequality rapid growth become constraints for this policy. Beside that constraints, pro poor and pro growth fiscal policy was debatable. Okun’s Law, Kuznet Theory and inclusive growth concept were sources of this debate. This paper investigates the impact of fiscal policy on growth and inequality. Using Error Correction Model (ECM), this paper shows that between 1980 until 2015, fiscal policy become more pro growth than pro poor. ABSTRAK Kebijakan fiskal Indonesia dirancang dalam kerangka pro growth dan pro poor. Keterbatasan ruang fiskal dan tingginya kecepatan peningkatan ketimpangan menjadi kendala. Selain kendala tersebut, usaha untuk merancang kebijakan fiskal yang pro growth dan pro poor menjadi perdebatan. Teori Kuznet, Hukum Okun, dan konsep pertumbuhan inklusif menjadi pangkal perdebatan ini. Penelitian ini bertujuan melihat dampak kebijakan fiskal terhadap pertumbuhan dan ketimpangan. Menggunakan Error Correction Model (ECM), hasil penelitian menemukan bahwa selama periode 1980 sampai dengan 2015 kebijakan fiskal cenderung mendorong pertumbuhan dibanding pemerataan.
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Chugunov, Igor Yakovych, and Mykola Dmytrovych Pasichnyi. "FISCAL POLICY FOR ECONOMIC DEVELOPMENT." SCIENTIFIC BULLETIN OF POLISSIA 1, no. 1(13) (2018): 54–61. http://dx.doi.org/10.25140/2410-9576-2018-1-1(13)-54-61.

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Mochtar, Firman. "Fiscal and Monetary Policy Interaction : Evidences and Implication for Inflation Targeting in Indonesia." Buletin Ekonomi Moneter dan Perbankan 7, no. 3 (May 20, 2005): 359–86. http://dx.doi.org/10.21098/bemp.v7i3.114.

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Paper ini menganalisa interaksi kebijakan fiskal dan moneter di Indonesia pada masa sebelum dan sesudah krisis, dengan melakukan estimasi atas quasy fiscal activity (QFA) Bank Indonesia dan mengurai interaksi antara kebijakan fiskal dan moneter. Penulis menemukan bahwa selama masa krisis, aktifitas ini (QFA) ada dan dilakukan oleh bank sentral Indonesia. Hal ini berbeda dengan masa sebelum krisis dimana QFA memiliki besaran yang netral. Dalam kaitan interaksi kebijakan fiskalmoneter, fakta ini menunjukkan dominasi kebijakan fiskal pada masa setelah krisis. Analisa interaksi antara kebijakan fiskal dan moneter ini membawa implikasi kebijakan di Indonesia yakni perlunya disiplin dalam kebijakan fiskal dan perlunya komitmen untuk mempertahankan sustainability kebijakan tersebut. Kegagalan mencapai kebijakan fiskal yang optimal akan mengurangi efektifitas kebijakan moneter dalam rangka mengontrol inflasi meski dalam kerangka inflation targeting yang secara parsial sudah diimplementasikan oleh Bank Indonesia.Keyword: Quasi Fiscal Activities, Fiscal Policy, Monetary Policy, Inflation TargetingJEL: E11, E31, E52, E62
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Ologbenla, Patrick. "Determinants of fiscal policy behavior in Nigeria." Investment Management and Financial Innovations 16, no. 2 (April 8, 2019): 1–13. http://dx.doi.org/10.21511/imfi.16(2).2019.01.

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The study investigated the factors that determine fiscal behavior in Nigeria. The vulnerability of fiscal policy framework in Nigeria to different shocks and the attendant effects on the behavior of fiscal policy are parts of the reasons that prompted this research work. Annual data between 1980 and 2015 on core fiscal variables such as government revenue, government expenditure, fiscal balance, public debt, as well as other variables such as oil price, exchange rate, and inflation rate commodity price among others, are used. The Auto-Regressive Distributed Lag ARDL estimating technique is used to analyze both the long-run and short-run effects of these variables on fiscal behavior in Nigeria. Findings from the study show that fiscal policy in Nigeria is highly vulnerable to shocks from these variables mostly in the short run. Notwithstanding, variables like government revenue, government expenditure, regime of administration, oil price and commodity price volatilities all have sustained effects till the long-run periods. It was discovered that oil price movements is not the only external factor that has pronounced effects on fiscal behavior, but commodity prices volatility generally constitutes an important influential factor in determination of fiscal policy behavior in Nigeria.
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Hnydiuk, Inna Victorivna, Tetiana Anatoliivna Dalievska, and Elmira Irekivna Gataullina. "FISCAL POLICY AS THE TOOL OF MACROECONOMIC REGULATION." SCIENTIFIC BULLETIN OF POLISSIA 2, no. 1(13) (2018): 107–12. http://dx.doi.org/10.25140/2410-9576-2018-2-1(13)-107-112.

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Munir, Kashif, and Nimra Riaz. "Macroeconomic Effects of Exogenous Fiscal Policy Shocks in." Revista Hacienda Pública Española 233, no. 2 (June 2020): 141–65. http://dx.doi.org/10.7866/hpe-rpe.20.2.6.

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Adiyanta, FC Susila. "Fleksibilitas Pajak sebagai Instrumen Kebijaksanaan Fiskal untuk Mengantisipasi Krisis Ekonomi sebagai Akibat Dampak Pandemi Covid-19." Administrative Law and Governance Journal 3, no. 1 (March 29, 2020): 162–81. http://dx.doi.org/10.14710/alj.v3i1.162-181.

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Penelitian ini bertujuan untuk menelaah tentang pengalaman Indonesia sebagai negara yang telah mampu mengatasi dan melampaui krisis finansial dengan menggunakan strategi kebijakan fiskal yang baik dan kebijakan pembaruan perpajakan nasional melalui reformasi regulasi dan administrasi perpajakan modern. Pengalaman mengatasi krisis finansial tersebut menjadi bahan pembelajaran yang menarik bagi Pemerintah untuk membuat kebijakan antisipatif untuk menghadapi dampak ekonomi finansial dan moneter akibat pandemi Covid-19. Metode pendekatan sosiolegal digunakan untuk dapat mendeskripsikan secara mendalam penggunaan pajak sebagai salah satu instrumen kebijakan fiskal dalam praksis perpajakan nasional. Hasil penelitian ini adalah: a) fungsi pajak sebagai instrumen kebijakan fiskal dengan kombinasi fungsi mengatur (regulerend) dan stabilitasi ekonomi untuk menjaga kondisi kontraksi dan relaksasi ekonomi nasional, mempunyai fleksibilitas untuk penerimaan negara (budgetair) yang berkelanjutan (sustainable budged income; b) fungsi alokasi anggaran belanja negara untuk biaya pemerintah dan kepentingan umum yang seimbang, distribusi untuk kesejahteraan masyarakat dengan tetap menjaga stabilitasi pertumbuhan ekonomi yang mendukung pembangunan nasional merupakan salah satu faktor penentu keberhasilan kebijaksanaan fiskal dalam meningkatkan daya saing investasi dan mengantisipasi pelemahan ekonomi global; Kata kunci: Pajak, Kebijaksanaan Fiskal, Daya Saing Investasi, Satbilitas Ekonomi Nasional Abstract This research aims to examine the experience of Indonesia as a country that has been able to overcome and surpass the financial crisis by using a good fiscal policy strategy and national tax reform policy through modern taxation and regulatory reform. The sociolegal approach method is used to be able to describe deeply the use of tax as one of the instruments of fiscal policy in the practice of national taxation.The conclusions of the results of this study are: a) the function of tax as an instrument of fiscal policy, with a combination of the function of regulating (regularend) and economic stabilization to maintain the conditions of contraction and relaxation of the national economy, having flexibility for sustainable state budget (sustainable budget); b) the function of the allocation of the state budget for government costs and balanced public interests, distribution for the welfare of the community while maintaining the stabilization of economic growth that supports national development is one of the determining factors for the success of fiscal policy in increasing investment competitiveness and anticipating the weakening of the global economy; Keywords: Tax, Fiscal Policy, Investment Competitiveness, National Economy Stability
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Dissertations / Theses on the topic "Fiscla policy"

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Forcades, Pujol Alejandro. "Essays on fiscal policy." Doctoral thesis, Universitat Autònoma de Barcelona, 2016. http://hdl.handle.net/10803/404256.

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Esta tesis doctoral desarrolla tres temas relacionados con la política fiscal en el campo de la macroeconomía. El primer artículo evalúa las implicaciones cuantitativas de la política fiscal óptima en un modelo con evasión fiscal. El resultado de Chamley-Judd de que el impuesto al capital en el largo plazo es cero no se cumple debido a la presencia conjunta de las evasiones fiscales del impuesto del consumo y trabajo, no incluso si expandimos el modelo introduciendo la evasión del impuesto del capital en economía cerrada. En contraste a Coleman (2000), encontramos que subsidiar el trabajo no es óptimo. En la parte cuantitativa, demostramos que el planificador Ramsey recorta los impuestos del trabajo, capital y consumo; que el impuesto sobre el consumo es considerablemente inferior al impuesto del trabajo; y que menores impuestos al trabajo y consumo reducen sus respectivos niveles de evasión fiscal. Además, las ganancias de bienestar asociadas con este experimento de política son substanciales. En el segundo artículo introducimos la evasión del impuesto al consumo a previos modelos macroeconómicos sobre economía sumergida. El modelo presentado en este artículo es el primero que trata conjuntamente las evasiones del impuesto al trabajo y al consumo. Introduciendo un shock TFP que afecta de la misma forma a los sectores declarado y no declarado, somos capaces de producir una evolución contracíclica de la evasión fiscal y mejoramos la bondad del modelo con respecto a los datos. También, exploramos las consecuencias de nuestro modelo para el sistema impositivo; concretamente, demostramos que puede ser inviable trasladar la carga fiscal de la imposición directa a la indirecta. Las curvas de Laffer son más planas que en el modelo sin evasión fiscal. Los límites impuestos por la evasión son más estrictos para el impuesto al consumo, para el cual la pendiente negativa de la curva de Laffer empieza aproximadamente en un tipo del 10%. Finalmente, el último artículo pretende estudiar cuáles habrían sido los efectos totales y heterogéneos de implementar los llamados Eurobonos en la crisis Europea de la deuda soberana (2009-12). Concretamente, nos centramos en la propuesta de Delpla y von Weizsäcker (2010). La Euro área es dividida en cuatro grupos de acuerdo a sus niveles de deuda pública y sus respectivos retornos de los bonos durante la crisis de la deuda soberana, y para cada grupo se desarrolla un modelo de economía pequeña y abierta sin (modelo de referencia) y con Eurobonos. Además, consideramos tres escenarios para los retornos de los Eurobonos: bajo, medio y alto. Los GIIPS (grupos I y II) son capaces de reducir el efecto desplazamiento sobre la inversión productiva, los impuestos y la deuda así como incrementar el PIB y el bienestar en todos los escenarios. El resto de países (grupos III y IV) pierden en términos de PIB, bienestar y deuda para los retornos medio y alto. En los bajos, todos los grupos están mejor. Por lo tanto, el mensaje clave es que los Eurobonos podrían ser una buena política para abordar periodos de primas de riesgo crecientes, pero su grado de éxito depende del nivel de compromiso.
This doctoral thesis develops three topics on fiscal policy in the field of macroeconomics. The first paper assesses the quantitative implications of optimal fiscal policy in a model with tax evasion. The Chamley-Judd result of a zero capital tax in the long run does not hold due to the presence of both labor income and consumption tax evasions, not even if we expand the model by introducing capital tax evasion in closed economy. In contrast to Coleman (2000), we find that subsidizing labor is not optimal. In the quantitative part, we show that the Ramsey planner cuts consumption, labor, and capital taxes; that the optimal tax rate on consumption is considerably lower than the optimal tax rate on labor income; and that lower taxes on labor and consumption reduce their respective levels of tax evasion. In addition, the welfare gains associated with this policy experiment are substantial. The second paper extends previous macroeconomic frameworks on shadow economy with consumption tax evasion. The model presented here is the first one to jointly tackle both labor income and consumption tax evasions. By introducing a TFP shock that affects equally both the declared and undeclared sectors, we are able to produce a countercyclical evolution of tax evasion and improve the fit of the model to the data. We also explore the consequences for taxation of our framework; specifically, we show that it may be unfeasible to implement tax shifts implying significant reductions of income tax in favor of higher excises on consumption. Laffer curves are flatter than in the model without tax evasion. The limits imposed by tax evasion are stricter for consumption tax, for which the slippery slope of the Laffer curve starts roughly at a mere rate of 10%. Finally, the last paper aims to study what would have been the overall and heterogeneous effects of implementing the so-called Eurobonds in the European sovereign debt crisis (2009-12). Specifically, we focus on the proposal by Delpla and von Weizsäcker (2010). The Euro area is divided in four groups according to their initial government debts and their respective bond yields during the sovereign debt crisis, and a small open economy model is set up for each one without (baseline model) and with Eurobonds. In addition, we consider three scenarios for Eurobond yields: low, medium, and high. GIIPS (groups I and II) are able to reduce the crowding-out effect on productive investment, taxes, and debt as well as increase GDP and welfare in all scenarios. The rest of countries (groups III and IV) lose in terms of GDP, welfare, and debt in the medium and high yields. In the low, all groups are better off. Therefore, the key message is that Eurobonds could be a good policy to address times of soaring sovereign spreads, but their degree of success depends on the level of commitment.
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Bermperoglou, Dimitrios. "Essays on fiscal policy." Doctoral thesis, Universitat Autònoma de Barcelona, 2014. http://hdl.handle.net/10803/310610.

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Esta tesis contribuye a tres cuestiones importantes relativas a la política fiscal y sus efectos a corto plazo sobre la economía real. El primer capítulo investiga cómo la riqueza de la vivienda y las restricciones colaterales contribuyen en forma conjunta a la transmisión no lineal de los shocks de política fiscal. Un modelo de equilibrio general dinámico y estocástico (DSGE) que asume inversión en vivienda y restricciones colaterales que ocasionalmente son válidas, revela un patrón no lineal de las respuestas a los shocks fiscales: los shocks positivos de consumo del gobierno son más expansivos en momentos que la riqueza inmobiliaria es relativamente alta y las restricciones colaterales son flojas, mientras que las reducciones de impuestos son más expansivas en momentos que la riqueza inmobiliaria es baja y las restricciones colaterales son válidas. La evidencia empírica, utilizando un modelo VAR no lineal, confirma las predicciones teóricas. En el segundo capítulo se comparan los efectos de los ajustes fiscales en los diferentes tipos de gastos del gobierno al producto nacional, el desempleo y el déficit en los EE.UU., Canadá, Japón y el Reino Unido. Los shocks del consumo público, la inversión pública, el empleo y los salarios públicos se identifican en un VAR estructural, utilizando restricciones de signo derivadas de un modelo DSGE que asume (i) fricciones en el mercado laboral del sector privado y público, (ii) participación laboral endógena y (iii) desempleados heterogéneos. Recortes de empleo del gobierno inducen a pérdidas más altas del producto nacional, a reducciones del déficit más pequeñas y a mayor desempleo en los EE.UU. y el Reino Unido. Por otra parte, los recortes salariales generan las menores pérdidas en el producto nacional y el desempleo, y las más altas ganancias en déficit que otros shocks. La última parte estudia los efectos de la política fiscal desagregada sobre la balanza comercial y el tipo de cambio real. Estimaciones de un VAR estructural revelan patrones distintos para todos los shocks. Los shocks positivos de consumo público e inversión pública inducen una caída del consumo privado, una depreciación real y una mejora de la balanza comercial de los EE.UU. Los shocks positivos de empleo público causan un aumento en el consumo privado, una depreciación real y una mejora de las exportaciones netas de los EE.UU. Por último, los shocks de los salarios públicos inducen una disminución del consumo privado, una apreciación real y un deterioro de la balanza comercial. Un modelo DSGE que asume fricciones en el mercado laboral y mercados financieros internacionales completos, puede replicar de forma satisfactoria las respuestas empíricas a los shocks de empleo y salario público. Sin embargo, una discrepancia surge con respecto a los shocks de consumo público e inversiones públicas: una caída del consumo privado, como respuesta a esos shocks, se acompaña de una depreciación real en la parte empírica, mientras que se acompaña de una apreciación real en teoría.
This thesis contributes to three important issues relating to fiscal policy and its short-run effects on the real economy. The first chapter investigates how housing wealth dynamics and collateral constraints jointly matter for the non-linear transmission of fiscal policy shocks. A dynamic stochastic general equilibrium (DSGE) model with housing investment and occasionally binding collateral constraints reveals a non-linear pattern of responses to fiscal shocks: positive government consumption shocks are more expansionary during times that housing wealth is relatively high and the collateral constraint is slack, while tax cuts are more expansionary during times that housing wealth is low and the collateral constraint binds. In the second chapter, we compare output, unemployment and deficit effects of fiscal adjustments in different types of government outlays in the US, Canada, Japan, and the UK. Shocks to government consumption, investment, employment and wages are identified in a structural VAR, using sign restrictions from a sticky price DSGE model with matching frictions in the private and public sector, endogenous labor participation and heterogeneous unemployed jobseekers. Government employment cuts induce the highest output losses, the smallest deficit reductions and significant unemployment increases in the US and the UK. On the other hand, wage cuts generate the lowest output and unemployment losses, and typically the highest deficit gains. The last part studies the effects of disaggregated fiscal policy on the trade balance and the real exchange rate. Structural VAR estimations reveal distinct patterns for all shocks. Government (non-wage) consumption and investment shocks induce a fall in private consumption, a real depreciation and an improvement of the US trade balance. Public employment shocks lead to an increase in private consumption, a real depreciation and an improvement of the US net exports. Finally, public wage shocks induce a decline in private consumption, a real appreciation and a deterioration of the trade balance. A two-country DSGE model with frictions in the labor market and complete international financial markets can replicate satisfactorily the empirical responses to government employment and wage shocks. However, a correlation puzzle emerges for public consumption and investment shocks: a fall in private consumption as a response to those shocks is accompanied by a real depreciation in the data, while it is accompanied by a real appreciation in theory.
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Watson, Ekin Elcin. "Essays on Fiscal Policy." Thesis, Boston College, 2017. http://hdl.handle.net/2345/bc-ir:107587.

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Thesis advisor: Peter Ireland
Thesis advisor: Fabio Ghironi
In this dissertation I study the impacts of fiscal policies in different monetary settings. In the first chapter, I empirically analyze the impact of fiscal policies on pairwise co-movements of business cycles in the European Monetary Union between the years of 1999 and 2016. In the second chapter, I develop a theoretical model which let me examine the impact of future fiscal consolidation around the zero lower bound interest rate. I explore welfare implications of the timing of future fiscal consolidation. In the first chapter, I empirically examine the impact of national fiscal policies on the bilateral synchronization of business cycles among the euro zone countries and discuss how this impact changes over time between 1999 and 2016. I find that divergences in fiscal balances significantly decrease the synchronization among EZ countries on average. However, this relation is not linear in time. In fact, in the last period when the fiscal austerity measures are adopted, bilateral BCS increases with an increase in differences in fiscal balance. I also discover that the impact of an expansionary fiscal policy (decreasing the surplus or increasing the deficit) on the BCS is greater if the country is running a surplus rather than a deficit. On the other hand, I observe that between 2013 and 2016 if a country with budget deficit performs an expansionary fiscal policy, this increases the BCS which implies that the expansionary fiscal policies in that period are likely countercyclical in nature to neutralize the impacts of asymmetric shocks in the EZ area. In the second chapter, I analyze the effects of different timing of fiscal consolidations under different fiscal policy rules in a New Keynesian framework with endogenously binding zero lower bound. I find that the anticipated future government spending cuts have amplifying effects on the current fiscal stimulus only if the cuts are enacted in a timely manner and government spending does not respond endogenously to the economy. Spending reversals in the very short-run are very costly, while consolidation in the medium-run reduces welfare costs. However, the precise optimal timing of consolidation varies with different fiscal policy rules. If the labor income tax rate is used to stabilize the economy in addition to spending adjustment, the economy is stimulated more compared to a lump-sum taxation rule and no fiscal rule cases. When the government spending responds to output and debt endogenously, the fiscal consolidation occurs endogenously. In this case, additional spending cuts depress the economy and the welfare gain of the cuts at the optimal timing is negligible
Thesis (PhD) — Boston College, 2017
Submitted to: Boston College. Graduate School of Arts and Sciences
Discipline: Economics
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Gómez-Oliveros, Leyre. "Essays on fiscal policy." Thesis, University of Essex, 2017. http://repository.essex.ac.uk/20525/.

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This thesis consists of three chapters. The first chapter makes use of a New-Keynesian framework to analyze the effects of introducing the public sector in a small open economy, for which a different degree of home-bias for the private and the public sector will be assumed. Once it has been proven that this introduction does not fundamentally vary the original results of the Galí-Monacellli (2005) model, a sensitivity analysis of the effects of such introduction will be made in a setting with different exchange-rate regimes and different degrees of openness. The second chapter develops a DSGE model which features incomplete asset markets, domestic debt denominated either in domestic or foreign currency, a risk premium on such debt and simple feedback rules. We find that in this setting a positive government spending shock leads to expansionary effects on output when exchange rates are allowed to adjust. This effect is reinforced by the real depreciation caused by such policy especially in the case in which debt is denominated in foreign currency. This is not the case under fixed exchange rates, then also under a peg effects are, as expected, quite similar under both currency denominations of debt. The third chapter was written together with Stefan Niemann and Paul Pichler. In it fiscal policy is introduced into a sovereign debt model with endogenous default costs to examine the implications for the determination of the output costs of default. We find that the quantitative properties of the output costs of default, and their dependence on primitives such as the elasticity of labor supply, are distinctly different depending on the margin of fiscal adjustment. The consideration of fiscal policy thus has potentially important implications for the quantitative properties of models of sovereign debt and default.
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Costa, Junior Celso José. "Essays on fiscal policy." reponame:Repositório Institucional da UFPR, 2014. http://hdl.handle.net/1884/36133.

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Orientador : Prof. Dr. Armando Vaz Sampaio
Tese (doutorado) - Universidade Federal do Paraná, Setor de Ciencias Sociais Aplicadas, Programa de Pós-Graduação em Desenvolvimento Ecônomico. Defesa : 02/06/2014
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Resumo: Há uma sensação generalizada na sociedade brasileira sobre a vulnerabilidade fiscal da economia do Brasil. Em vista disso, o objetivo deste trabalho é contribuir para a discussão sobre o papel da política fical como ferramenta de estímulo econômico. Para tanto, analisou-se algumas propostas de política fiscal para a economia brasileira, tanto do lado do gasto público, quanto do lado da desoneração tributária. Para tanto, foi desenvolvido um modelo DSGE Novo-keynesiano para uma economia pequena e fechada com seis choques fiscais: gasto corrente do governo; investimento público; transferência de renda às famílias; desoneração do imposto sobre o consumo; desoneração do imposto sobre a renda do trabalho; e desoneração do imposto sobre a renda do capital. Os parâmetros fiscais foram estimados usando a metodologia Bayesiana, enquanto os outros parâmetros foram calibrados. As políticas de desoneração tributária apresentaram melhores resultados do que as políticas de gasto público. Principalmente, a desoneração do tributo sobre a renda do trabalho. Entre as políticas de gasto, o investimento público foi o único choque que apresentou resultado positivo em relação ao PIB. Resumidamente, o resultado obtido é que políticas voltadas para o aumento da oferta agregada possuíram um resultado mais expressivo e sem pressionar a taxa de inflação.
Abstract: There is a widespread feeling in Brazilian society about the fiscal vulnerability of Brazil's economy. In view of this, the objective this work is to contribute to the discussion about the role of fiscal policy as economic stimulus tool. We discuss some proposals of fical policy for the Brazilian economy, both on the side of public spending and on the side of tax reduction. Thus, a New-Keynesian DSGE model for a small closed economy with six fiscal shocks (current government spending, public investment, income transfers to households, tax reduction on consumption, tax reduction on labor income and tax reduction on capital income) was developed. The fiscal parameters were estimated using the Bayesian methodology, while the other parameters were calibrated. The policies of tax reduction showed better results than the policies of public spending. Mostly, the tax reduction on labor income. Among policies spending, public investment was the only shock that showed positive results in relation to GDP. Briey, the result is that policies aimed at increasing aggregate supply had a more significant result, without to press the ination rate.
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Falconer, Jean. "Essays in Fiscal Policy." Thesis, University of Oregon, 2018. http://hdl.handle.net/1794/23774.

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The subject of this dissertation is fiscal policy in the United States. In recent years the limitations of monetary policy have become more evident, generating greater interest in the use of fiscal policy as a stabilization tool. Despite considerable advances in the fiscal policy literature, many important questions about the effects and implementation of such policy remain unresolved. This motivates the present work, which explores both topics in the chapters that follow. I begin in the second chapter by estimating Federal Reserve responses to changes in taxes and spending. Monetary responses are a critical determinant of fiscal policy effectiveness since central banks have the ability to offset many of the economic changes resulting from fiscal shocks. Using techniques commonly employed in the fiscal multiplier literature, my results indicate a willingness by monetary policymakers to alter policy directly in response to fiscal shocks in a way that either reinforces or counteracts the resulting effects. In the third and fourth chapters I shift my focus to the conduct of fiscal policy. Specifically, I use Bayesian methods to estimate the response of federal discretionary policy to different macroeconomic variables. I allow for uncertainty about various characteristics of the underlying model which enables me to determine, for example, which variables matter to policymakers; whether policy conduct has changed over time; and whether policy responses are state dependent. My results indicate, among other things, that policy responds countercyclically to changes in the labor market, but only during periods of weak economic activity.
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Jerow, Samuel B. "Fiscal Policy and Uncertainty." Miami University / OhioLINK, 2018. http://rave.ohiolink.edu/etdc/view?acc_num=miami1533112993662019.

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Arai, Real. "Fiscal Policy and Macroeconomics." Kyoto University, 2012. http://hdl.handle.net/2433/157496.

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Chatzouz, Moustafa. "Essays on fiscal policy." Thesis, University of Warwick, 2015. http://wrap.warwick.ac.uk/80922/.

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High levels of either public debt or wealth inequality are detrimental to social and economic stability. At a time when reducing public debt and decreasing wealth inequality have become important policy priorities, the question arises about whether these two goals stand in con ict. With this in mind, Chapter 1 assesses the effects of public debt on wealth inequality based on an analytically tractable model of heterogeneous agents. Its scope, in particular, is to investigate whether a reduction of public debt or of budget deficits in general might amplify or not the levels of wealth inequality. In answering this question, we explore a novel channel where, for example, a reduction in budget deficits amplifies wealth inequality due to the change in factor prices, and in particular that of interest rates. Therefore, and besides that our research is the first to explore this type of question, our main contribution is that we show how a change in public debt can affect wealth inequality in an implicit way through the change in factor incomes - that is, the general equilibrium effects. In Chapter 2, on the other hand, we study the design of policies within an endogenous growth model of incomplete markets and partial commitment. Markets are incomplete in two dimensions, the government cannot insure itself from the presence of aggregate risk, and the accumulation of human capital is subject to idiosyncratic risk. Our primary contribution highlights the importance of human capital to effectively manage the economy along the cycle. More specifically, we make a novel argument: taking short run risks are effective responses to a shock that might depress the economy. An investment in human capital which is subject to idiosyncratic risk, serves that purpose. Its returns however, must be protected over-time through an effective provision of liquidity and manipulation of taxes. In our case this policy requires to subsidise physical capital and tax human capital, while the government must own assets. Finally, In Chapter 3 we estimate the fiscal multipliers for Greece. In particular, using the SVAR approach of Blanchard and Perotti we estimate the dynamic effects of government spending and tax revenues on output. The results over the available sample indicate some strong Keynesian effects. That is government spending multipliers are large while the tax multipliers are relatively small. However the conclusions are confined to the peculiarities of the available sample and are not easily exportable to alternative periods or allow any generalizations.
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Venes, Nuno. "Fiscal policy: empirical essays." Doctoral thesis, Instituto Superior de Economia e Gestão, 2009. http://hdl.handle.net/10400.5/902.

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Doutoramento em Economia
Throughout this work we empirically analyse three important dimensions of fiscal policy -cyclicality, fiscal forecasts and consolidation episodes. While central government expenditure is, on average, weakly countercyclical in the OECD countries and procyclical in Latin American countries, we find evidence of revenue procyclicality in both groups. Higher levels of income inequality lead to less procyclical policies on the revenue side but are associated with stronger expenditure procyclicality, and better institutions seem unable to mitigate this effect. We also study the track record of fiscal forecasts reported by the EU-15 countries in the context of the Excessive Deficit Procedure. For the budget balance, gross fixed capital formation (GFCF) and interest payments, we study the statistical properties of forecast errors and their politico-institutional determinants. While errors in interest and GFCF expenditure present few systematic patterns, budget balance errors are responsive to fiscal institutions and to opportunistic motivations, especially from 1999 onwards: upcoming elections induce over-optimism, whereas commitment or mixed forms of fiscal governance and numerical expenditure rules (but not deficit and debt rules) are associated with greater prudence. Finally, for the EU-27 countries between 1969 and 2006, we assess those factors that help in explaining successful fiscal consolidations. Gradual episodes (3-4 years) are more likely to be successful than cold-shower adjustments (during a single year). The probability of success also increases in the face of cuts in central government current transfers to lower tiers of government. Finally, while successful cold-shower consolidations are characterised, in the years they occur, by a very limited contribution from politically-sensitive expenditure items, such as government wages and social transfers, these items account for nearly half of the primary expenditure adjustment effort during successful gradual fiscal contractions.
Neste trabalho procedemos à análise empírica de três dimensões da política orçamental -ciclicidade, previsões orçamentais e episódios de consolidação. Enquanto a despesa da Administração Central é, em média, ligeiramente contra-cíclica nos países da OCDE e pro-cíclica na América Latina, encontra-se evidência de prociclicidade das políticas do lado da receita em ambos os grupos de países. A elevada desigualdade de rendimentos conduz a políticas menos pro-cíclicas do lado da receita, mas está associada a uma maior prociclicidade da despesa, sendo que este efeito não parece ser mitigado por melhores instituições. Analisamos também o desempenho das previsões orçamentais reportadas pelos países da UE-15 no contexto do Procedimento dos Défices Excessivos. Para o saldo orçamental, formação bruta de capital fixo (FBCF) e juros pagos, estudamos as propriedades estatísticas dos erros de previsão e os seus determinantes político-institucionais. Enquanto os erros para a despesa com juros e FBCF apresentam poucos padrões sistemáticos, os erros de previsão do saldo orçamental dependem das instituições e de motivações oportunistas, especialmente a partir de 1999: a proximidade de eleições induz sobre-optimismo, enquanto que processos de decisão orçamental baseados em formas ditas de compromisso ou mistas e regras numéricas de despesa (mas não as de défice e dívida) estão associados a uma maior prudência. Finalmente, para os países da UE-27 entre 1969 e 2006, avaliamos os factores que ajudam a explicar o sucesso das consolidações orçamentais. Os episódios graduais (3-4 anos) têm maior probabilidade de sucesso do que os episódios do tipo "cold-shower" (que duram apenas 1 ano). A probabilidade de sucesso também aumenta na presença de reduções nas transferências correntes da Administração Central para outros sub-sectores. Enquanto as consolidações "cold-shower" bem sucedidas se caracterizam, no ano em que ocorrem, por um contributo muito limitado de rubricas de despesa politicamente sensíveis, como os salários da Administração Pública e as transferências sociais, estas rubricas contribuem com cerca de metade do esforço do ajustamento da despesa primária durante as consolidações graduais bem sucedidas.
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Books on the topic "Fiscla policy"

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Barrell, Ray. Fiscal solvency and fiscal policy. London: National Institute of Economic and Social Research, 1994.

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Khemani, Stuti. Populist fiscal policy. [Washington, D.C: World Bank, 2008.

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Ihori, Toshihiro, and Keigo Kameda. Procyclical Fiscal Policy. Singapore: Springer Singapore, 2018. http://dx.doi.org/10.1007/978-981-13-2995-1.

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J, Kotlikoff Laurence, ed. Dynamic fiscal policy. Cambridge [Cambridgeshire]: Cambridge University Press, 1987.

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Kopits, George. Fiscal policy rules. Washington, DC: International Monetary Fund, 1998.

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Kopits, George, and Steven Symansky. Fiscal Policy Rules. Washington, D.C.: International Monetary Fund, 1998. http://dx.doi.org/10.5089/9781557757043.084.

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La politique fiscale: À la recherche du compromis. Sainte-Foy, Québec: Presses de l'Université du Québec, 1995.

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Tremblay, Pierre P. La politique fiscale: À la recherche du compromis. 2nd ed. Sainte-Foy: Presses de l'Université du Québec, 1998.

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Federal tax policy. 5th ed. Washington, D.C: Brookings Institution, 1987.

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Iwamoto, Yasushi. Real budget deficits and fiscal polciy [i.e. policy] in Japan. Ibaraki, Osaka, Japan: Institute of Social and Economic Research, Osaka University, 1988.

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Book chapters on the topic "Fiscla policy"

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Carlberg, Michael. "Fiscal Policy." In Monetary and Fiscal Dynamics, 123–36. Heidelberg: Physica-Verlag HD, 1992. http://dx.doi.org/10.1007/978-3-642-47689-1_24.

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Gottfries, Nils. "Fiscal Policy." In Macroeconomics, 288–319. London: Macmillan Education UK, 2013. http://dx.doi.org/10.1007/978-1-137-32180-0_11.

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Dullien, Sebastian, Neva Goodwin, Jonathan M. Harris, Julie A. Nelson, Brian Roach, and Mariano Torras. "Fiscal Policy." In Macroeconomics in Context, 324–53. New York, NY : Routledge, 2017.: Routledge, 2017. http://dx.doi.org/10.4324/9781315644653-13.

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Krugman, Paul, and Robin Wells. "Fiscal Policy." In Essentials of Economics, 576–608. New York: Macmillan Learning, 2017. http://dx.doi.org/10.1007/978-1-319-18664-7_17.

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Rush, Philip. "Fiscal Policy." In Real Market Economics, 61–77. London: Palgrave Macmillan UK, 2017. http://dx.doi.org/10.1057/978-1-349-95278-6_4.

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Seeley, Karl. "Fiscal Policy." In Studies in Ecological Economics, 239–44. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-51757-5_13.

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Evans-Pritchard, John. "Fiscal Policy." In Macroeconomics, 203–29. London: Palgrave Macmillan UK, 1985. http://dx.doi.org/10.1007/978-1-349-17926-8_10.

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Carlberg, Michael. "Fiscal Policy." In Monetary and Fiscal Strategies in the World Economy, 18–22. Berlin, Heidelberg: Springer Berlin Heidelberg, 2009. http://dx.doi.org/10.1007/978-3-642-10476-3_3.

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Carlberg, Michael. "Fiscal Policy." In Monetary and Fiscal Strategies in the World Economy, 35–40. Berlin, Heidelberg: Springer Berlin Heidelberg, 2009. http://dx.doi.org/10.1007/978-3-642-10476-3_6.

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Krugman, Paul, and Robin Wells. "»Fiscal Policy." In Economics, 693–720. London: Macmillan Education UK, 2006. http://dx.doi.org/10.1007/978-1-349-91968-0_30.

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Conference papers on the topic "Fiscla policy"

1

Ismoilov, G. N. "State Fiscal Policy." In II International Conference on Economic and Social Trends for Sustainability of Modern Society. European Publisher, 2021. http://dx.doi.org/10.15405/epsbs.2021.09.02.15.

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Menchynska, Olena, Serhii Sobchuk, Zhanna Harbar, and Victor Harbar. "Fiscal policy under economic transformation." In Proceedings of the 6th International Conference on Strategies, Models and Technologies of Economic Systems Management (SMTESM 2019). Paris, France: Atlantis Press, 2019. http://dx.doi.org/10.2991/smtesm-19.2019.41.

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Luarsabishvili, Marine. "GEORGIA FISCAL POLICY AND MACROECONOMIC RISKS." In Integration of business structures: competition and cooperation. Publishing House “Baltija Publishing”, 2021. http://dx.doi.org/10.30525/978-9934-26-036-0-2.

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Malikova, A. Kh. "Medieval Thinkers On Government Fiscal Policy." In Global Challenges and Prospects of The Modern Economic Development. European Publisher, 2021. http://dx.doi.org/10.15405/epsbs.2021.04.02.120.

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Tören, Evrim, and Mehmet Balcılar. "Fiscal Policy Shocks and the Dynamics of Asset Prices in Turkey." In International Conference on Eurasian Economies. Eurasian Economists Association, 2015. http://dx.doi.org/10.36880/c06.01285.

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Asset markets and the asset prices affect financial institutions, consumers, producers and policy makers while they are making decisions. There is an important relationship not only between the financial market and banking system but also between the housing market and the credit market. Therefore, the study analyzes the impact of fiscal policy on asset prices by using beyasian vector autoregressive models. The sample data has been gathered from the Central Bank of the Republic of Turkey. The aim is to demonstrate the effects of fiscal policy shocks on stock prices and housing prices. The data covers the period between 1988:Q1 and 2014:Q2. Overall, the results confirm that the spending shocks coming from fiscal policy have a greater influence on the stock prices. In addition, the government revenue shocks are more influential on the house prices compared to the stock prices in Turkey.
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Dong Yanmei and Chen Lixian. "Notice of Retraction: On the deficit fiscal policy and China's fiscal deficit." In Business Management and Electronic Information. 2011 International Conference on Business Management and Electronic Information (BMEI 2011). IEEE, 2011. http://dx.doi.org/10.1109/icbmei.2011.5920985.

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Dziemianowicz, Ryta, Aneta Kargol-Wasiluk, and Anna Wildowicz-Giegiel. "NEW FISCAL POLICY? LESSON FROM THE CRISIS." In 9th Economics & Finance Conference, London. International Institute of Social and Economic Sciences, 2018. http://dx.doi.org/10.20472/efc.2018.009.002.

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ISTUDOR, Ileana Iulia, and Florina MOCANU. "Fiscal Policy, Prices, Inflation - Dependencies and Interdependences." In International Conference Global interferences of knowledge society, November 16-17th, 2018, Targoviste, Romania. LUMEN Publishing house, 2019. http://dx.doi.org/10.18662/lumproc.131.

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Li, Xiangmin, and Yushi Ren. "Government fiscal policy toward SMEs in China." In 2010 Second International Conference on Communication Systems, Networks and Applications (ICCSNA). IEEE, 2010. http://dx.doi.org/10.1109/iccsna.2010.5588904.

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Rusyiana, Aris, Sujarwoto Sujarwoto, and Khoirul Muluk. "Does Fiscal Decentralization Good For Reducing Communal Conflict?" In 1st International Conference on Administrative Science, Policy and Governance Studies (ICAS-PGS 2017) and the 2nd International Conference on Business Administration and Policy (ICBAP 2017). Paris, France: Atlantis Press, 2017. http://dx.doi.org/10.2991/icaspgs-icbap-17.2017.7.

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Reports on the topic "Fiscla policy"

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D’Acunto, Francesco, Daniel Hoang, and Michael Weber. Unconventional Fiscal Policy. Cambridge, MA: National Bureau of Economic Research, January 2018. http://dx.doi.org/10.3386/w24244.

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Battaglini, Marco, and Stephen Coate. Fiscal Policy and Unemployment. Cambridge, MA: National Bureau of Economic Research, November 2011. http://dx.doi.org/10.3386/w17562.

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Sinn, Hans-Werner. The ECB's Fiscal Policy. Cambridge, MA: National Bureau of Economic Research, May 2018. http://dx.doi.org/10.3386/w24613.

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Kocherlakota, Narayana. Stabilization with Fiscal Policy. Cambridge, MA: National Bureau of Economic Research, September 2021. http://dx.doi.org/10.3386/w29226.

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Davig, Troy, and Eric Leeper. Monetary-Fiscal Policy Interactions and Fiscal Stimulus. Cambridge, MA: National Bureau of Economic Research, July 2009. http://dx.doi.org/10.3386/w15133.

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Dupor, Bill, Rong Li, and Jingchao Li. Sticky Wages, Monetary Policy and Fiscal Policy Multipliers. Federal Reserve Bank of St. Louis, 2017. http://dx.doi.org/10.20955/wp.2017.007.

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e Castro, Miguel Faria. Fiscal Policy during a Pandemic. Federal Reserve Bank of St. Louis, 2020. http://dx.doi.org/10.20955/wp.2020.006.

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Davig, Troy, Eric Leeper, and Hess Chung. Monetary and Fiscal Policy Switching. Cambridge, MA: National Bureau of Economic Research, March 2004. http://dx.doi.org/10.3386/w10362.

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Caballero, Ricardo, and Arvind Krishnamurthy. Fiscal Policy and Financial Depth. Cambridge, MA: National Bureau of Economic Research, May 2004. http://dx.doi.org/10.3386/w10532.

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Alesina, Alberto, Silvia Ardagna, Roberto Perotti, and Fabio Schiantarelli. Fiscal Policy, Profits, and Investment. Cambridge, MA: National Bureau of Economic Research, July 1999. http://dx.doi.org/10.3386/w7207.

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