Pedersen, Michael (contributor) - 2008
the reference long-run copper price and, since 2002, also the parameters used to
calculate trend GDP. On the other hand …. Fiess (2002) mentions five: (1) to
ensure macroeconomic stability, (2) enhance the credibility of the government’s fiscal …) reduce the pro-cyclical bias in fiscal policy. Perry (2002) argues
that pro-cyclical fiscal policy exacerbates the …