Andersen, Asger Lau; Nielsen, Lasse Holbøll Westh - 2010
This paper examines why fiscal policy is procyclical in developing as well as developed countries. We introduce the … redictions: 1) the procyclical bias in fiscal policy arises only in good times; and 2) a higher degree of fiscal transparency … broader set of countries. -- Fiscal transparency ; fiscal policy ; procyclicality ; the business cycle ; political economy …