کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
969921 | 1479487 | 2008 | 23 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The effects of fiscal policy on consumption in recessions and expansions
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
This paper explores in a yearly panel of nineteen OECD countries from 1970–2002 the effects of fiscal policy changes on private consumption in recessions and expansions. In the presence of binding liquidity constraints on households, fiscal policy is more effective in boosting private consumption in recessions than in expansions. The effect is more pronounced in countries characterized by a less developed consumer credit market. This happens because the fraction of individuals that face binding liquidity constraints in a recession will consume the extra income generated following an unanticipated tax cut or government spending increase.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Public Economics - Volume 92, Issues 5–6, June 2008, Pages 1486–1508
Journal: Journal of Public Economics - Volume 92, Issues 5–6, June 2008, Pages 1486–1508
نویسندگان
Athanasios Tagkalakis,