Walking Hand in Hand: Fiscal Policy and Growth in Advanced Economies
By Laura Jaramillo, C. Cottarelli. Social Science Research Network, 2012
130 citations recorded by the source corpus.
Implementation of fiscal consolidation by advanced economies in coming years needs to take into account the short and long-run interactions between economic growth and fiscal policy. Many countries must reduce high public debt to GDP ratios that penalize longterm growth. However, fiscal adjustment is likely to hurt growth in the short run, delaying improvements in fiscal indicators, including deficits, debt, and financing costs. Revenue and expenditure policies are also critical in affecting productivity and employment growth. This paper discusses the complex relationships between fiscal policy and growth both in the short and in the long run.
Subfields: Conservation, Experimental and Cognitive Psychology, Visual Arts and Performing Arts
View Paper: https://www.semanticscholar.org/paper/cc17898ae7d1c793eba132ee78663a979fc81dfa
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Citations in the corpus
- Fiscal Multipliers and the State of the Economy (2012, unknown): “However, in the current sovereign debt crisis the bond spreads seem largely driven by GDP growth prospects (Cottarelli and Jaramillo, 2012).”
- An empirical retrospect of the impacts of government expenditures on economic growth: new evidence from the Nigerian economy (2020, background): “…and tackle the challenges associated with economic recession thereby boosting economic growth as popularly demonstrated by the Keynesian economic school of thought as documented in the attendant literature (Cwik and Wieland 2010; Auerbach and Gorodnichenko 2012; Jaramillo and Cottarelli 2012).”
- Fiscal Policy in a Depressed Economy: Was There a ‘Free Lunch’ in 1930s’ Britain? (2013, background): “It has been widely noted in recent papers that, in some circumstances, fiscal consolidation can worsen standard fiscal indicators such as the ratio of public debt to GDP (P), at least initially (Boussard et al., 2012; Cottarelli and Jaramillo, 2012).”