Fiscal rules and countercyclical policy: Frank Ramsey meets Gramm-Rudman-Hollings
- Author(s):
- Tanner, Evan
- Date Issued:
- 2003-08
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- Serie Seminarios y Conferencias - CEPAL
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- En: Reglas macrofiscales, sostenibilidad y procedimientos presupuestarios: documentos presentados en el XV Seminario Regional de Política Fiscal - LC/L.1948-P - 2003 - p. 109-125
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Fiscal rules and countercyclical policy: Frank Ramsey meets Gramm-Rudman-Hollings
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The argument that I will be making here is that the key to a well-designed macroeconomic policy for development is a mix of sound countercyclical policies and a proactive strategy for diversifying production structures. These two concepts are deeply rooted in eclac thinking. Countercyclical policie...
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This article evaluates the effectiveness of the counter-cyclical measures adopted by the Brazilian government to mitigate the effects of the subprime mortgage crisis, by analysing the repercussions of monetary, fiscal and credit policies on several of the main macroeconomic aggregates. The empirica...