The effects of fiscal policy after the global recession: Assessing the evidences

Luiz Fernando de Paula () and Manoel Carlos de Castro Pires ()

Brazilian Journal of Political Economy, 2013, vol. 33, issue 2, 315-321

Abstract: This paper offers a commented review of the most recent empirical studies of the effects of fiscal contraction on economic growth which have helped underpin the prescription that fiscal policy should be expansionary in coming years in order to contain economic semi-stagnation in the developed countries. The paper shows that there is ample literature showing that fiscal expansion helps the economy grow, and that fiscal contraction tends to reduce output and employment in the short term. JEL Classification: E61; E62; H3.

Keywords: fiscal consolidation; conter-cyclical policy; international financial crisis (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:ekm:repojs:v:33:y:2013:i:2:p:315-321:id:314

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