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dc.contributor.authorAizenman, Joshuaen
dc.contributor.authorJinjarak, Yothinen
dc.date.accessioned2010-11-25-
dc.date.accessioned2012-09-28T12:41:37Z-
dc.date.available2012-09-28T12:41:37Z-
dc.date.issued2010-
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
dc.language.isoengen
dc.publisher|aUniversity of California, Economics Department |cSanta Cruz, CAen
dc.relation.ispartofseries|aWorking Paper |x674en
dc.subject.jelE62en
dc.subject.jelF42en
dc.subject.jelO23en
dc.subject.ddc330en
dc.subject.keywordfiscal spaceen
dc.subject.keywordfiscal stimulusen
dc.subject.keywordtrade opennessen
dc.subject.stwÖffentliche Schuldenen
dc.subject.stwSteueraufkommenen
dc.subject.stwKonjunkturpolitiken
dc.subject.stwFinanzpolitiken
dc.subject.stwKonjunkturen
dc.subject.stwMultiplikatoren
dc.subject.stwFinanzmarktkriseen
dc.subject.stwWelten
dc.titleDe facto fiscal space and fiscal stimulus: Definition and assessment-
dc.typeWorking Paperen
dc.identifier.ppn640587801en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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