Inflation Adjusted Government Budget Deficits and their Impact on the Business Cycle: Empirical Evidence for Eight Industrial Countries

Giuseppe Tullio

Annals of Economics and Statistics, 1989, issue 13, 119-137

Abstract: This paper presents estimates of output equations for eight industrial countries. It shows that inflation adjusted budget surpluses do not unambiguously possess a greater explanatory power than non adjusted ones, contrary to Eisner and Pieper [1984, 1986]. It also shows that for small and medium sized countries there is evidence of a contraction of domestic output as a result of fiscal expansion in larger countries.

Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:1989:i:13:p:119-137

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