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Consumption Smoothing Through Fiscal Policy in OECD and EU Countries

A. Arreaza, Bent Sorensen and O. Yosha

Working Papers from Tel Aviv

Abstract: We measure the amount of smoothing achieved through various components of the government deficit in Eu and OECD countries. For EU countries, at the 1-year frequency, 13 % of shocks to GDP are smoothed via government consumption, 18 percent via transfers, 5 % via subsidies, while taxes provide no smoothing. The results for OECD countries are similar. Government transfers provide more smoothing of negative than of positive shocks among EU countries.

Keywords: DEFICIT; INCOME; INSURANCE; CAPITAL; RISK; FINANCIAL MARKET; CONSUMPTION (search for similar items in EconPapers)
JEL-codes: E2 E6 F15 G15 (search for similar items in EconPapers)
Date: 1997
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Related works:
Chapter: Consumption Smoothing through Fiscal Policy in OECD and EU Countries (1999) Downloads
Working Paper: Consumption Smoothing through Fiscal Policy in OECD and EU Countries (1998) Downloads
Working Paper: Consumption Smoothing Through Fiscal Policy in OECD and EU Countries (1997) Downloads
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