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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2017.1
- 수록면
- 227 - 252 (26page)
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Procyclical fiscal policy in developing countries has been discussed as a result of imperfect institutional qualities or inefficient fiscal policy procedures in those economies. In this paper, I test the argument by implementing an institutional cost associated with providing public goods in a simple new Keynesian Dynamic Stochastic General Equilibrium (DSGE) model and observing its effect on a cyclicality of macroeconomic stabilization policies and macroeconomic fluctuations. The simulation result shows that when the cost exists, the government spending gap is procyclical and key macroeconomic variables tend to be relatively more volatile, while the public spending gap is countercyclical with the absence of the institutional cost.
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참고문헌 (29)
참고문헌 신청
[인터넷자원]
Adam, K / 2008 / Monetary conservatism and fiscal policy / Journal of Monetary Economics 55 : 1376 ~ 1388
Adolfson, M / 2008 / Empirical properties of closed- and open- economy DSGE models of the Euro area / Macroeconomic Dynamics 12 (S1) : 2 ~ 19
Alberola, E / 2006 / Debt sustainability and procyclical fiscal policies in Latin America : 1 ~ 36
Alesina, A / 2005 / Why is fiscal policy often procyclical? : 1 ~ 30
Adam, K / 2008 / Monetary conservatism and fiscal policy / Journal of Monetary Economics 55 : 1376 ~ 1388
Adolfson, M / 2008 / Empirical properties of closed- and open- economy DSGE models of the Euro area / Macroeconomic Dynamics 12 (S1) : 2 ~ 19
Alberola, E / 2006 / Debt sustainability and procyclical fiscal policies in Latin America : 1 ~ 36
Alesina, A / 2005 / Why is fiscal policy often procyclical? : 1 ~ 30
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