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Fiscal Policy Coordination in OECD Countries
(Valtion taloudellinen tutkimuskeskus VATT, 1998-01-01)
This paper deals with fiscal policy coordination. In specifically it focuses on the question of how fiscal policy can be coordinated in the world where countries differ a lot in terms of cyclical behaviour and importance ...
Do automatic stabilisers take care of asymmetric shocks in the euro area?
(Valtion taloudellinen tutkimuskeskus VATT, 2000-12-01)
This paper deals with the question whether the automatic fiscal stabilisers are strong enough to solve the problem of asymmetric shocks in the Euro area. The question is important for many reasons, for instance in terms ...
How Sensitive is the Public Budget Balance to Cyclical Fluctuations in the EU?
(Valtion taloudellinen tutkimuskeskus VATT, 2000-10-09)
This paper discusses the fiscal behaviour of EU countries in 1972-1999. It attempts to find out how deficits adjust to changes in interest rates and output growth by examining the hypothesis that the reaction of deficits ...
Government Size and Output Volatility: New International Evidence
(Valtion taloudellinen tutkimuskeskus VATT, 2004-07-08)
This paper re-examines the relationship between government size and output volatility from two perspectives. First, we use a wider international data set of 91 countries over the period 1980–1999 and thus not only the OECD ...
Testing Nonlinear Dynamics, Long Memory and Chaotic Behaviour with Financial and Nonfinancial Data
(Valtion taloudellinen tutkimuskeskus VATT, 1997-01-01)
This paper contains a set of tests for nonlinearities in economic time series. The tests comprise both standard diagnostic tests for revealing nonlinearities and some new developments in modelling nonlinearities. The latter ...
Are Government Expenditures Productive? Measuring the Effect on Private Sector Production
(Valtion taloudellinen tutkimuskeskus VATT, 2006-03-03)
This paper analyses the productivity of public expenditures. It follows the branch of literature originated by Aschauer but has also some novel features. First of all, it focuses on the effect of both public investment and ...
Fiscal Policy, Automatic Stabilisers and Policy Coordination in EMU
(Valtion taloudellinen tutkimuskeskus VATT, 1999-01-01)
This paper deals with fiscal policy coordination. In particular, it focuses on the question of how fiscal policy can be coordinated inside EMU, where countries still differ considerably in terms of cyclical behaviour and ...
Fiscal Policy in the 1920s and 1930s. How much different it is from the post war period's policies
(Valtion taloudellinen tutkimuskeskus VATT, 2006-11-08)
This paper deals with the fiscal behaviour of governments in the 1920s and 1930s. The intention is to see whether there were the same features in government behaviour as in the post-World War II era. In particular, attention ...