Cyclical Budgetary Policy and Economic Growth: What Do We Learn From OECD Panel Data?
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| dc.contributor.author |
Aghion, Philippe
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| dc.contributor.author |
Marinescu, Ioana |
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| dc.date.accessioned |
2009-10-14T15:15:40Z |
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| dc.date.issued |
2007 |
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| dc.identifier.citation |
Aghion, Philippe, and Ioana Marinescu. 2007. Cyclical budgetary policy and economic growth: What do we learn from OECD panel data? In NBER Macroeconomics Annual, ed. Daron Acemoglu, Kenneth Rogoff, and Michael Woodford, 251-278. Chicago: University of Chicago Press |
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| dc.identifier.isbn |
978-0-226-00202-6 |
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| dc.identifier.uri |
http://nrs.harvard.edu/urn-3:HUL.InstRepos:3350066 |
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| dc.description.abstract |
This paper uses yearly panel data on OECD countries to analyze the relationship between growth and the cyclicality of government debt. We develop new time-varying estimates of the cyclicality of public debt. Our main findings can be summarized as follows: (i) less procyclical public debt growth can have significantly positive effects on productivity growth, in particular when financial development is lower; (ii) public debt growth has become increasingly countercyclical in most OECD countries over the past twenty years, but this trend has been less pronounced in the EMU; (iii) less financially developed or more open economies display less countercyclical public debt growth. |
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| dc.description.sponsorship |
Economics |
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| dc.language.iso |
en_US |
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| dc.publisher |
University of Chicago Press |
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| dc.relation.isversionof |
http://www.nber.org/books/acem07-1 |
en_US |
| dc.relation.hasversion |
http://www.economics.harvard.edu/faculty/aghion/papers_aghion |
en_US |
| dash.license |
LAA |
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| dc.title |
Cyclical Budgetary Policy and Economic Growth: What Do We Learn From OECD Panel Data? |
en_US |
| dc.type |
Monograph or Book |
en_US |
| dc.description.version |
Accepted Manuscript |
en_US |
| dc.relation.journal |
NBER Macroeconomics Annual |
en_US |
| dash.depositing.author |
Aghion, Philippe
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| dc.date.available |
2009-10-14T15:15:40Z |
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FAS Scholarly Articles [5138]
Peer reviewed scholarly articles from the Faculty of Arts and Sciences of Harvard University
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