Procyclical Fiscal Policy in Developing Countries: Truth or Fiction?

By Ethan Ilzetzki, C. Végh. 2008

525 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/36560a9c1e9eb39653827bbf935d9cf0a367809c

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In Economics and Econometrics

Citations in the corpus

The impact of extreme weather events on budget balances (2009, unknown): “Therefore, we follow Jaimovich and Panizza (2007) and Ilzetzki and Vegh (2008) by instrumenting the real GDP growth rate with an external real shock.”
The Natural Resource Curse: A Survey of Diagnoses and Some Prescriptions (2012, background): “28 Cuddington (1989), Gavin and Perotti (1997), Tornell and Lane (1999), Kaminsky, Reinhart, and Vegh (2004), Talvi and Végh (2005), Alesina, Campante and Tabellini (2008), Mendoza and Oviedo (2006), Ilzetski and Vegh (2008) and Medas and Zakharova (2009).”
Fiscal Policy and Default Risk in Emerging Markets (2009, background): “Ilzetzki and Vegh (2008) analyze a 5 quarterly dataset for 49 countries covering the period 1960-2006, they subject the data to several econometric tests and find evidence to support the idea that fiscal policy is procyclical in developing countries.”
Rent seeing distortions and fiscal procyclicality (2011, background): “See Ilzetzki and Végh (2008) for detailed evidence.”
Fiscal storms: public spending and revenues in the aftermath of natural disasters (2011, methodology): “The ADF-Fisher and PP-Fisher tests are the Fisher-type tests using ADF and PP proposed by Maddala and Wu (1999). The HT test is the test proposed by Harris and Tzavalis (1999).”
Hurricane Iniki: measuring the long-term economic impact of a natural disaster using synthetic control (2011, background): “Poor developing countries are less likely to be able to adopt counter-cyclical fiscal policies (Ilzetzki and Végh, 2008); this will make the disaster’s adverse consequences more severe.”
A Solution to Fiscal Procyclicality: The Structural Budget Institutions Pioneered by Chile (2011, background): “Wyplosz (2005) and Jonung and Larch (2006) propose setting up an independent fiscal policy committee that would reproduce what independent monetary policy committees do.”
Flexible Fiscal Rules and Countercyclical Fiscal Policy (2016, methodology): “In line with the recent literature, we use public expenditure, rather than the fiscal balance or tax revenue, as a proxy for the fiscal policy trend because its evolution is less endogenous, and thus likely to capture more accurately the non-cyclical stance of fiscal policy (See Bova and others, 201”
Fiscal Policy Challenges in Oil-Exporting Countries - A Review of Key Issues (2009, background): “3 Jayaraman (1998) for Fiji; Valadkhani (2004) for Iran.”
Fiscal Policy Reaction to the Cycle in the OECD: Pro- or Counter-Cyclical? (2014, unknown): “For such a case, the correction developed by Kiviet (1995), Bun and Kiviet (2003) and Bun and Carree (2005) for balanced panels and by Bruno (2005a, b) for unbalanced panels seems more appropriate.”