Procyclical Fiscal Policy
dec. 2018 · Springer
E-bok
68
Sidor
reportBetyg och recensioner verifieras inte Läs mer
Om den här e-boken
Conventional wisdom dictates that a fiscal policy should be counter-cyclical. However, contrary to this conventional views, recent research has demonstrated that fiscal policy is actually procyclical in most developing countries. In this book, we attempt to propose a new interpretation of this procyclicality after reviewing theoretical and empirical evolution of the research. In particular, by incorporating the political effort behavior of private agents into a weak government model, we explore how income fluctuations affect the optimal budget deficits in a political economy. If the government can control the political behavior, normally, the optimal budget deficit should rise in a recession as a first-best case; however, interestingly, a recession does not necessarily prompt an increase in the budget deficits in a second-best political economy. The response of the budget deficits to income fluctuations mainly depends on the efficiency of political effort, which may correspond to the degree of democracy and bureaucratic efficiency of the governments. We test the prediction of the pro-cyclical fiscal policy and find it applicable for democratic countries with semi-efficient governments including Japan.
Om författaren
Toshihiro Ihori is a special professor of economics at the National Gradual Institute for Policy Studies and a professor emeritus of The University of Tokyo. He is an Academic Advisor of the Research Institute of Capital Formation, Development Bank of Japan. He has a B.A. and a M.A. from The University of Tokyo and a Ph.D. in economics from Johns Hopkins University. His major field of research is public economics. Details are at the web site of the National Gradual Institute for Policy Studies.
Keigo Kameda is a Professor of Economics at School of Policy Studies, Kwansei Gakuin University. His main areas of research are public finance and macroeconomic policies. Born in 1970, Prof. Kameda received a Bachelor’s degree in Economics at Keio University in 1993 and a Ph.D. in Economics at Keio University in 2014. He was appointed Professor of Economics at School of Policy Studies, Kwansei Gakuin University in 2015.
Betygsätt e-boken
Berätta vad du tycker.
Läsinformation
Smartphones och surfplattor
Installera appen Google Play Böcker för Android och iPad/iPhone. Appen synkroniseras automatiskt med ditt konto så att du kan läsa online eller offline var du än befinner dig.
Laptops och stationära datorer
Du kan lyssna på ljudböcker som du har köpt på Google Play via webbläsaren på datorn.
Läsplattor och andra enheter
Om du vill läsa boken på enheter med e-bläck, till exempel Kobo-läsplattor, måste du ladda ned en fil och överföra den till enheten. Följ anvisningarna i hjälpcentret om du vill överföra filerna till en kompatibel läsplatta.
