Fiscal policy effectiveness and the golden rule of public finance

Central Bank Review - Tập 18 - Trang 85-93 - 2018
Irem Zeyneloglu1
1Galatasaray University, Department of Economics, Ciragan Av. 36, Besiktas, 34349, Istanbul, Turkey

Tài liệu tham khảo

Agénor, 2011, The tyranny of rules: fiscal discipline, productive spending, and growth in a perfect foresight model, J. Econ. Pol. Reform, 14, 69, 10.1080/17487870.2010.503086 Allain-Dupré, 2012, Public investment at central and sub-national levels: an adjustment variable for OECD countries in the present context of austerity? Aschauer, 1989, Is public expenditure productive?, J. Monetary Econ., 23, 177, 10.1016/0304-3932(89)90047-0 Bom, 2014, What have we learned from three decades of research on the productivity of public capital?, J. Econ. Surv., 28, 889, 10.1111/joes.12037 Calvo, 1983, Staggered prices in a utility-maximizing framework, J. Monetary Econ., 12, 383, 10.1016/0304-3932(83)90060-0 Finn, 1998, Cyclical effects of government's employment and goods purchases, Int. Econ. Rev., 39, 635, 10.2307/2527394 Gali, 2007, Understanding the effects of government spending on consumption, J. Eur. Econ. Assoc., 5, 227, 10.1162/JEEA.2007.5.1.227 Greiner, 2000, Endogeneous growth, government debt and budgetary regimes, J. Macroecon., 22, 363, 10.1016/S0164-0704(00)00136-1 Groneck, 2010, A golden rule of public finance or a fixed deficit regime? Growth and welfare effects of budget rules, Econ. Modeling, 27, 523, 10.1016/j.econmod.2009.11.005 Groneck, 2011, The golden rule of public finance and the composition of government expenditures: a growth and welfare analysis, J. Econ. Pol. Reform., 14, 273, 10.1080/17487870.2011.590328 Ismihan, 2012, The golden rule of public finance: a panacea?, Ekonomi-tek, 1, 1 Kaplan, 2014 Mehrotra, 2006, Public investment in Europe: evolution and determinants in perspective, FiscStudi, 27, 443 Minéa, 2009, Borrowing to finance public investment? The ‘Golden rule of public finance’ reconsidered in an endogenous growth setting, Fisc. Stud., 30, 109, 10.1111/j.1475-5890.2009.00091.x Monacelli, 2008 OECD, 2018 Pappa, 2009, The effects of fiscal shocks on employment and the real wage, Int. Econ. Rev., 50, 217, 10.1111/j.1468-2354.2008.00528.x Smets, 2003, An estimated dynamic stochastic general equilibrium model of the Euro Area, J. Eur. Econ. Assoc., 1, 1123, 10.1162/154247603770383415 Stähler, 2012, FiMod - a DSGE model for fiscal policy simulation, Econ. Modeling., 29, 239, 10.1016/j.econmod.2011.10.001 Straub, 2007 Truger, 2015