Stylized Facts of Government Finance in the G-7
IMF Working Papers, October 1, 1997
Source details
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- Stylized Facts of Government Finance in the G-7
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Bibliographic details
- Authors: Riccardo Fiorito
- Published: October 1, 1997
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451927573.001
Key empirical findings
- Revenues lag real GDP procyclically.
- Government spending in most cases fails to lead the economy procyclically.
- The above spending result applies not only to transfers but also to:
- the wage component of government consumption, and
- in most cases, to government fixed investment.
- Government deficits are always countercyclical.
- There is little evidence that stabilization (fiscal policy) is equally successful in stimulating the economy before shocks materialize.
Subject areas and keywords
- Subjects: Business cycles, Consumption taxes, Economic growth, Expenditure, Government consumption, Income and capital gains taxes, National accounts, Taxes
- Keywords: business cycle; Business cycles; consumption share; Consumption taxes; correlation coefficient; Europe; General government variable; government balance; government consumption; Government Finance; government outlay; Income and capital gains taxes; indirect tax; interest expenditure in Japan; negative correlation; North America; public goods; Stylized Facts; WP
Publication metadata and key statistics
- Author: Riccardo Fiorito
- Publication date: October 1, 1997
- Series: Working Paper No. 1997/142
- Issue: 142
- Volume: 1997
- Pages: 54
- DOI: https://doi.org/10.5089/9781451927573.001
- ISBN: 9781451927573
- ISSN: 1018-5941
- Stock No: WPIEA1421997
Source: Riccardo Fiorito, "Stylized Facts of Government Finance in the G-7", IMF Working Papers (1997), accessed from IMF landing page.
Content in this bundle
- Stylized Facts of Government Finance in the G-7 - WP/97/142