Simple, Implementable Fiscal Policy Rules

Simple, Implementable Fiscal Policy Rules
This paper analyzes the scope for systematic rules-based fiscal activism in open economies. Relative to a balanced budget rule, automatic stabilizers significantly improve welfare. But they minimize fiscal instrument volatility rather than business cycle volatility. A more aggressively countercyclical tax revenue gap rule increases welfare gains... READ MORE...

Publication date: April 2009
ISBN 9781451872231
$18.00

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