Fatás, Antonio; Mihov, Ilian - C.E.P.R. Discussion Papers - 2012
We analyze empirically the cyclical behavior of fiscal policy among a group of 23 OECD countries. We introduce a … framework to capture fiscal policy stance in a way that brings together automatic stabilizers and discretionary fiscal policy … discretionary fiscal policy. When compared across countries, changes in fiscal policy stance are predominantly linked to differences …