The impact of fiscal policy on private consumption and social outcomes in Europe and the CIS

Fabrizio Carmignani ()

Journal of Macroeconomics, 2008, vol. 30, issue 1, 575-598

Abstract: The paper studies the effects of fiscal policy on per-capita private consumption and social outcomes in a simultaneous equations framework. The focus is on transition economies and the model specification allows for a non-linear response of socio-economic variables to fiscal policy depending on the fiscal regime. Key results are (i) fiscal policy has Keynesian effects in transition countries and non-Keynesian effects in high-income OECD economies, but only outside normal times, (ii) public health and social protection expenditure improve social outcomes, and (iii) there is evidence of electoral business cycle of fiscal policy in both transition and high-income countries.

Date: 2008
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0164-0704(07)00048-1
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jmacro:v:30:y:2008:i:1:p:575-598

Access Statistics for this article

Journal of Macroeconomics is currently edited by Douglas McMillin and Theodore Palivos

More articles in Journal of Macroeconomics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().