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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/39015
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| Title: | | Fiscal rules and composition bias in OECD countries  |
| Authors: | | Dahan, Momi Strawczynski, Michel |
| Issue Date: | | 2010 |
| Series/Report no.: | | CESifo working paper Public Finance 3088 |
| Abstract: | | Using a sample of OECD countries, this paper finds that while fiscal rules succeeded in reducing total government expenditures and budget deficits in the medium term, they significantly affected the composition of government expenditure: the ratio of social transfers to government consumption declined. In contrast, we do not find a stable effect of fiscal rules on public investment. It is shown that the compositional shift against social transfers is beyond 'from welfare to work' policies, which have been adopted by many OECD countries during the nineties. Our empirical examination reveals that the reduction of social transfers relative to government consumption did not occur in countries with strong legal protection to social rights. |
| Subjects: | | fiscal rules government deficit government expenditure expenditures composition |
| JEL: | | H00 H30 E62 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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