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- W2019250966 abstract "Effect of Fiscal Policy on Economic Activity : A Function of Cyclical Conditions and the Fiscal System ? by Pierre-Yves Hénin and Pape N''Diaye An evaluation of interactions between macroeconomic activity and fiscal policy measured by a balance variable proves disappointing if carried out using a linear reduced-form VAR model. This study adopts an alternative representation, based on Hamilton''s work, which allows a model''s coefficients to vary according to the phase of the cycle and the fiscal system. The effect of fiscal policy on activity is thus reappraised for four OECD countries, first as a function of the cyclical phase and then of mixed systems in relation to cyclical conditions and fiscal policy trends. In several cases, non-neutral, classical or Keynesian effects on the budget were found to be specific to certain systems, although they did not emerge in a linear model. The American situation seemed to be closest to traditional a priori macroeconomics, with significant Keynesian effects in recession." @default.
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- W2019250966 date "2001-01-01" @default.
- W2019250966 modified "2023-10-14" @default.
- W2019250966 title "L'effet des politiques budgétaires sur l'activité : une fonction des conditions conjoncturelles et du régime budgétaire ?" @default.
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- W2019250966 doi "https://doi.org/10.3406/ecop.2001.6215" @default.
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