Afonso, António; Agnello, Luca; Furceri, Davide - 2008
particular, while government size, country size and income have negative effects on the discretion component of fiscal policy …We decompose fiscal policy in three components: i) responsiveness, ii) persistence and iii) discretion. Using a sample … conditions. We also found that while the effect of cross-country covariates is positive (negative) for discretion, it is negative …