The Cyclical Behaviour of Fiscal Policy: Evidence from the OECD

By Philip R. Lane. 2003

686 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/507cc65ed7b113b87ca3d1b6a2e464e346839374

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Citations in the corpus

Fiscal Policy Reaction to the Cycle in the OECD: Pro- or Counter-Cyclical? (2014, positive): “Lane (2003) shows that the cyclical behaviour of overall government spending in OECD countries hides a large degree of heterogeneity across spending components.”
Monetary and Fiscal Policy Interactions in a Micro-Founded Model of a Monetary Union (2005, background): “Note that, by using (28) and (29), and their efficient flex-price counterparts, we can express these inflation adjustment equations in terms of output and terms-of-trade (and public spending) gaps.”
Public Employment and the Business Cycle (2007, neutral): “Using (4), (6), (9), (10), (11) and rearranging we get the wage equation:”
Economic crisis and regional resilience: detecting the‘geographical footprint’ of economic crisis in Greece (2014, background): “However, empirical research provides evidence that policies at national and regional level are pro-cyclical to economic cycle (Lane 2003; Abbott and Jones 2012).”
Cyclical Budgetary Policy and Economic Growth: What Do We Learn from OECD Panel Data? (2007, methodology): “Lane (2003) is probably the paper that comes closer to the analysis developed in the fourth section of our paper.”
Government Size, Composition, Volatility and Economic Growth (2008, neutral): “…standard deviation of output business cycle) has been found to negatively affect growth (e.g. Ramey and Ramey, 1995) and is usually correlated with government expenditure volatility (e.g. Galí, 1994; Zimmermann, 1995; Fatás and Mihov, 2001; Koskela and Viren, 2003; Lane, 2003; Debrun et al., 2008).”
Stock market response to monetary and fiscal policy shocks: Multi-country evidence (2013, neutral): “…a countercyclical fashion; instead the outcomewill either be a deficit bias (see, Buchanan and Wagner, 1977; Persson and Svensson, 1989; Tabellini and Alesina, 1990, for example), or procyclical fiscal policy (see, Lane, 2003) or even a business cycle driven by fiscal policy shocks (Drazen, 2000).”
Fiscal Policy in Real Time (2012, neutral): “Lane (2003a) shows that the “pro-cyclicality bias” is more severe for developing countries than for developed ones.”
Flexible Fiscal Rules and Countercyclical Fiscal Policy (2016, background): “On the one hand, a number of papers have concluded that governments subject to fiscal rules are more prone to procyclical fiscal behavior (Alesina and Bayoumi, 1996; Alt and Lowry, 1994; Lane, 2003; Levinson, 1998; Poterba, 1994; Roubini and Sachs, 1989; and Sorensen and others, 2001).”
Fiscal policy responsiveness, persistence, and discretion (2010, neutral): “In particular, the estimate of this simple bivariate relation for the spending equation is: Lane (2003) for a similar approach.”
Stability and Growth in Europe: Towards a Better Pact (2004, background): “28 There are several papers documenting the cyclicality of public finances in industrialized countries, such as Fatás and Mihov (2002 a and b, Lane (2002), Hercowitz and Strawczynski (2001); Galí and Perotti (2002), balance and output falling below trend (upper left quadrant), and one tenth of…”
The impact of R&D subsidies during the crisis (2015, background): “Ouyang (2011) examines the opportunity cost hypothesis and finds an asymmetric response of R&D to demand shocks.”
Planning to cheat: EU fiscal policy in real time (2009, neutral): “A surplus may give rise to a ‘voracity effect’ (Tornell and Lane, 1999; Lane, 2003), in which each party tries to grab as much as possible of the surplus, as otherwise other parties will appropriate those resources.”