منابع مشابه
Cyclical Budgetary Policy and Economic Growth: What Do We Learn From OECD Panel Data?
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 developm...
متن کاملCyclical Budgetary Policy and Economic Growth: What Do We Learn from OECD Panel
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 developm...
متن کاملDo Good Institutions Promote Counter-Cyclical Macroeconomic Policies?
The literature has argued that developing countries are unable to adopt counter-cyclical monetary and fiscal policies due to financial imperfections and unfavorable politicaleconomy conditions. Using a world sample of 115 industrial and developing countries for 1984-2008, we find that the level of institutional quality plays a key role in countries' ability to implement counter-cyclical macroec...
متن کاملCounter-cyclical substitution between trade credit and bank credit
This paper explores the substitution relationship between trade credit and bank credit, and its countercyclic dynamic pattern through economic cycles. We propose a new theoretical model, using a mechanism design method, which predicts the substitution between the two credits and its counter-cyclic behavior, subject to the condition of technological efficiency not less than one. This model also ...
متن کاملAspects of the optimal management of cyclical ecological–economic systems
We now know that from a functional standpoint, jointly determined ecological–economic systems (ecosystems) cycle over time. However, because this recognition has been recent, the ecological economics literature contains very few formal studies of the management of cyclical ecosystems. Consequently, the objective of this paper is to use renewal theory to examine two ways of analyzing the optimal...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2010
ISSN: 1556-5068
DOI: 10.2139/ssrn.1604410