 L'effet des politiques budgétaires sur l'activité: une fonction des conditions conjoncturelles et du régime budgétaire ?Pierre-Yves Hénin and Pape N'Diaye Économie et Prévision, 2001, vol. 147, issue 1, 73-88 Abstract: [fre] An evaluation of interactions between macroeconomic activity and fiscal policy measured by a balance variable proves disappointing if carried out using a linear reduced-form VAR model. This study adopts an alternative representation, based on Hamilton''s work, which allows a model''s coefficients to vary according to the phase of the cycle and the fiscal system. The effect of fiscal policy on activity is thus reappraised for four OECD countries, first as a function of the cyclical phase and then of mixed systems in relation to cyclical conditions and fiscal policy trends. In several cases, non-neutral, classical or Keynesian effects on the budget were found to be specific to certain systems, although they did not emerge in a linear model. The American situation seemed to be closest to traditional a priori macroeconomics, with significant Keynesian effects in recession. [eng] Effect of Fiscal Policy on Economic Activity : A Function of Cyclical Conditions and the Fiscal System ? . by Pierre-Yves Hénin and Pape N''Diaye . An evaluation of interactions between macroeconomic activity and fiscal policy measured by a balance variable proves disappointing if carried out using a linear reduced-form VAR model. This study adopts an alternative representation, based on Hamilton''s work, which allows a model''s coefficients to vary according to the phase of the cycle and the fiscal system. The effect of fiscal policy on activity is thus reappraised for four OECD countries, first as a function of the cyclical phase and then of mixed systems in relation to cyclical conditions and fiscal policy trends. In several cases, non-neutral, classical or Keynesian effects on the budget were found to be specific to certain systems, although they did not emerge in a linear model. The American situation seemed to be closest to traditional a priori macroeconomics, with significant Keynesian effects in recession. . . Date: 2001 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:prs:ecoprv:ecop_0249-4744_2001_num_147_1_6215 Access Statistics for this article Économie et Prévision is currently edited by Ministère de l'économie, des finances et de l'industrie More articles in Économie et Prévision from Programme National Persée |
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