This paper discusses the need and scope for an active fiscal stabilization policy. It is argued that the effectiveness of fiscal policy as a short run stabilizer does not depend on the long run multipliers of (balanced budget) fiscal policies. To the extent that activity can be affected by aggregate demand in the short run, there is a case for a fiscal stabilization policy in terms of temporary...

in the initial models of economic growth, economic factors entered in to models but in the following models, non-economic factors entered in to models. many broad studies were done on this subject by the economists, and already considerable results were obtained. subjects such as corruption in the administrative bodies were new variables entering the literature of economic growth at that stage....

We assess the cyclicality of fiscal policy in 19 Euro area countries, notably during recessions, for period 1995–2020. use a time-varying measure to describe developments. The results suggest that recessions discretionary becomes more pro-cyclical, but overall budget balance counter-cyclical. Hence, pursuing Ricardian regime by indebted countries leads higher counter-cyclicality policy. Governm...

The purpose of this study is to provide a macroeconomic analysis of fiscal policy in the Czech Republic during the transformation period 1989-1995. In contrast to those studies which are based on “decline accounting”, disentangling different factors from each other and ascribing to them specific roles in the overall decline, this study focuses exclusively on fiscal policy and tries to identify ...

Fiscal policy is a policy that tries to achieve certain economic goals through instruments such as changes in government expenditure and taxation. The financial policy uses two instruments of government revenue (tax) and government spending (spending) to influence the economy. And in the economic literature, they consider economic growth to be equal to GDP. The impact of financial policies on e...

the organization of the petroleum exporting countries (opec) has a key role in making universal political and economic decisions regarding petroleum. therefore, it seems highly important to assess the opec member’s degree of concentration and its monopoly.  this research, aims to assess and classify the concentration of petroleum export in the opec countries during the 1997-2011 period by the h...

Rather than stabilising aggregate demand, discretionary fiscal policy tends to amplify cyclical fluctuations of output. The commonly accepted reasons are political economy and uncertainty. In the EU, pro-cyclical nature has also been associated with agreed rules, which, for some observers, unduly limit scope Using panel data covering close 40 EU non-EU countries, we provide evidence that volati...

We investigate the short-term effects of fiscal adjustment on economic activity in 20 OECD countries from 1970 to 2009.We compare two approaches: the traditional approach based on changes in cyclically adjusted primary balance (CAPB) and the narrative approach based on historical records. Proponents of the latter argue that it captures discretionary fiscal adjustment more accurately than the tr...