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Articles 1 - 3 of 3
Full-Text Articles in Social and Behavioral Sciences
Government Spending Effects: Synopsis, Riccardo Fiorito
Government Spending Effects: Synopsis, Riccardo Fiorito
riccardo fiorito
An updated, schematic, survey on government spending effects in the macroeconomic literature
Myths And Facts About Fiscal Discretion: A New Measure Of Discretionary Expenditure, Fabrizio Coricelli, Riccardo Fiorito
Myths And Facts About Fiscal Discretion: A New Measure Of Discretionary Expenditure, Fabrizio Coricelli, Riccardo Fiorito
riccardo fiorito
In this paper we suggest a new measure of discretionary government spending for Oecd countries (1980-2011). To identify the components of discretionary expenditure, we use the volatility and persistence properties of the expenditure series. Discretionary policy cannot be inertial and should be free from prior obligations. Commonly used measures of discretionary fiscal policy do not satisfy these two criteria. We find that discretionary expenditure accounts on average for about 30 percent of total primary expenditure, suggesting that most government spending is driven by inertial and automatic components. These features help explain why government expenditure is generally counter-cyclical even in advanced …
Business Cycles And Recessions In The Oecd Area, Riccardo Fiorito
Business Cycles And Recessions In The Oecd Area, Riccardo Fiorito
riccardo fiorito
Recessions are different and less frequent than negative business cycles in the Oecd evidence which is analyzed and compared here