Why is Fiscal Policy Often Procyclical?

Released on by Alberto F. Alesina
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  • Why is Fiscal Policy Often Procyclical? Book Detail

  • Author : Alberto F. Alesina
  • Release Date : 2008
  • Publisher :
  • Genre :
  • Pages : 0
  • ISBN 13 :
  • File Size : 90,90 MB
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Why is Fiscal Policy Often Procyclical? by Alberto F. Alesina PDF Summary

Book Description: Many countries, especially developing ones, follow procyclical fiscal policies, namely spending goes up (taxes go down) in booms and spending goes down (taxes go up) in recessions. We provide an explanation for this suboptimal fiscal policy based upon political distortions and incentives for less-than-benevolent government to appropriate rents. Voters have incentives similar to the "starving the Leviathan" classic argument, and demand more public goods or fewer taxes to prevent governments from appropriating rents when the economy is doing well. We test this argument against more traditional explanations based purely on borrowing constraints, with a reasonable amount of success.

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Why is Fiscal Policy Often Procyclical?

Why is Fiscal Policy Often Procyclical?

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Many countries, especially developing ones, follow procyclical fiscal policies, namely spending goes up (taxes go down) in booms and spending goes down (taxes g

Why is Fiscal Policy Often Procyclical?

Why is Fiscal Policy Often Procyclical?

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Many countries, especially developing ones, follow procyclical fiscal polices, namely spending goes up (taxes go down) in booms and spending goes down (taxes go

Procyclical Fiscal Policy

Procyclical Fiscal Policy

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Conventional wisdom dictates that a fiscal policy should be counter-cyclical. However, contrary to this conventional views, recent research has demonstrated tha

Fiscal Policy in Developing Countries:

Fiscal Policy in Developing Countries:

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This paper surveys fiscal policy in developing countries from the point of view of long-run growth. The first section reviews existing methodologies to estimate