EconStor >
European Investment Bank (EIB), Luxembourg >
Economic and Financial Reports, European Investment Bank (EIB) >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/45270
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorRiscado, Sara Mariaen_US
dc.contributor.authorStanécík, Jurajen_US
dc.contributor.authorVälilä, Timoen_US
dc.date.accessioned2011-04-19en_US
dc.date.accessioned2011-04-29T08:05:10Z-
dc.date.available2011-04-29T08:05:10Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/45270-
dc.description.abstractEarlier empirical literature has examined some long- and medium-term aspects of macro-fiscal volatility while leaving its short-term fiscal impact unexplored. To help fill that gap, we examine the impact of macro-fiscal volatility on the composition of public spending. To that end, we analyse a panel of 10 EU countries during 1991-2007. Our results suggest that contemporaneous increases in the volatility of regularly collected revenues such as the VAT and income taxes tend to tilt the expenditure composition in favour of public investment. In contrast, increases in the volatility of ad hoc-type of taxes such as capital taxes tend to favour public consumption spending. A possible explanation to these differences concerns news about the underlying economic conditions embedded in short-term volatility changes: the policy maker may be more inclined to increase public investment in response to persistent changes in the economic conditions, while temporary changes may prompt a reaction on consumption spending.en_US
dc.language.isoengen_US
dc.publisherEuropean Investment Bank Luxembourgen_US
dc.relation.ispartofseriesEconomic and financial reports / European Investment Bank 2010/03en_US
dc.subject.jelH29en_US
dc.subject.jelH50en_US
dc.subject.jelE62en_US
dc.subject.jelE32en_US
dc.subject.jelC33en_US
dc.subject.ddc330en_US
dc.subject.keywordtax volatilityen_US
dc.subject.keywordpublic investmenten_US
dc.subject.keywordpublic consumptionen_US
dc.titleMacro-fiscal volatility and the composition of public spendingen_US
dc.typeWorking Paperen_US
dc.identifier.ppn656655909en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Economic and Financial Reports, European Investment Bank (EIB)

Files in This Item:
File Description SizeFormat
656655909.pdf167.66 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.