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dc.contributor.authorAizenman, Joshuaen_US
dc.contributor.authorJinjarak, Yothinen_US
dc.date.accessioned2010-11-25en_US
dc.date.accessioned2012-09-28T12:41:37Z-
dc.date.available2012-09-28T12:41:37Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/64511-
dc.description.abstractWe define the notion of 'de facto fiscal space' of a country as the inverse of the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to account for the cross-country variation in the fiscal stimulus associated with the global crisis of 2009-2010. We find that greater de facto fiscal space prior to the global crisis, higher GDP/capita, and higher financial exposure to the US, were associated with a higher fiscal stimulus/GDP during 2009-2010. Intriguingly, higher trade openness has been associated with lower fiscal stimulus.en_US
dc.language.isoengen_US
dc.publisherUniv. of California at Santa Cruz, Dep. of Economics Santa Cruz, Calif.en_US
dc.relation.ispartofseriesWorking Papers, UC Santa Cruz Economics Department 674en_US
dc.subject.jelE62en_US
dc.subject.jelF42en_US
dc.subject.jelO23en_US
dc.subject.ddc330en_US
dc.subject.keywordfiscal spaceen_US
dc.subject.keywordfiscal stimulusen_US
dc.subject.keywordtrade opennessen_US
dc.subject.stwÖffentliche Schuldenen_US
dc.subject.stwSteueraufkommenen_US
dc.subject.stwKonjunkturpolitiken_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwKonjunkturen_US
dc.subject.stwMultiplikatoren_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwWelten_US
dc.titleDe facto fiscal space and fiscal stimulus: Definition and assessmenten_US
dc.typeWorking Paperen_US
dc.identifier.ppn640587801en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Working Papers, Economics Department, UC Santa Cruz

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