Taylor, Lance; Proaño, Christian R.; Carvalho, Laura de; … - In: Cambridge Journal of Economics 36 (2012) 1, pp. 189-204
), economic growth and debt. The deficit/income ratio responds countercyclically to growth while growth may respond positively (a … was a weak countercyclical fiscal response. The increase in government net borrowing was significantly less than the … 'Keynes' case) or negatively (à la 'Merkel') to the deficit. The recent Great Recession in the USA was atypical in that there …