Cyclicality of fiscal policy and the shadow economy

被引：24

作者：

Cicek, Deniz ^{[2
]}

Elgin, Ceyhun ^{[1
]}

机构：

[1] Bogazici Univ, Dept Econ, TR-34342 Istanbul, Turkey

[2] Univ Minnesota, Dept Econ, Minneapolis, MN 55455 USA

来源：

EMPIRICAL ECONOMICS | 2011年 / 41卷 / 03期

关键词：

Fiscal policy; Informal sector; Cyclicality; GOVERNMENT; COUNTRIES;

D O I：

10.1007/s00181-010-0409-0

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

A survey of recent literature on cyclical properties of fiscal policy reveals that fiscal policy is procyclical in many developing countries whereas it is countercyclical in developed ones. However, there is no consensus on what drives the difference in this specific cyclical property of fiscal policy. Using cross-section and panel data sets for 78 countries we document that procyclicality of fiscal policy is more pronounced in countries with a larger size of the shadow economy. We also show that policies reducing the size of the shadow economy lead to a less (more) procyclical (countercyclical) fiscal response to shocks.

引用

页码：725 / 737

页数：13

共 19 条

[1]

Aizenman J., 2000, J INT TRADE ECON DEV, V9, P367

[2] Why is fiscal policy often procyclical? [J].