Badinger, Harald - In: Applied Economics 44 (2012) 7, pp. 835-851
This article provides an empirical assessment of the relation between the cyclicality of fiscal expenditure policy … three main results: first, both pro- and countercyclical expenditure policy amplify output volatility, much in a way like … pure fiscal shocks; second, output volatility, due to variations in cyclical and discretionary fiscal policy, is negatively …