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dc.contributor.authorStanécík, Jurajen_US
dc.contributor.authorVälilä, Timoen_US
dc.description.abstractWe consider the impact of both cyclical and structural changes in the fiscal stance on public spending composition for a panel of EU countries, including individual components of public investment. We find that both cyclically-induced and structural changes in the fiscal stance affect the composition of public spending, with fiscal tightening of both types increasing the relative share of investment and loosening favouring consumption expenditure. Of the components of public investment, infrastructure and redistribution respond to cyclical changes in the fiscal stance, while investment in hospitals and schools responds most clearly to structural changes.en_US
dc.publisherEuropean Investment Bank Luxembourgen_US
dc.relation.ispartofseriesEconomic and financial reports / European Investment Bank 2010/02en_US
dc.subject.keywordfiscal policyen_US
dc.subject.keywordpublic expenditureen_US
dc.subject.keywordfiscal stanceen_US
dc.titleChanges in the fiscal stance and the composition of public spendingen_US
dc.typeWorking Paperen_US
Appears in Collections:Economic and Financial Reports, European Investment Bank (EIB)

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