000			01363nab a2200205 c 4500
999			_c142803 _d142803
003			ES-MaIEF
005			20200924171601.0
007			ta
008			200924s2020 gw ||||| |||| 00| 0 eng d
040			_aES-MaIEF _bspa _cES-MaIEF
100	1		_960498 _aJalles, João Tovar
245	0	2	_aA new look into fiscal countercyclicality _bexpectations, shocks, and the business cycle _c Joao Tovar Jalles
260			_c2020
504			_aBibliografía
520			_aWe provide a positive analysis of fiscal stabilizers by focusing on a heterogeneous sample of 84 countries between 1980 and 2015. We add to the literature by: (i) assessing fiscal cyclicality across business cycles' turning points; (ii) allowing for expectations to play a role; (iii) differentiating the effects stemming from demand and supply shocks. We find that fiscal countercyclicality is sizable across the world, particularly during recessions. Allowing for future expectations about fiscal dynamics enhances the degree of fiscal countercyclicality. Automatic stabilizers are an important component of fiscal stabilization. The fiscal response to demand shocks is higher than to supply shocks.
650		4	_948131 _aPRESUPUESTOS
650		4	_934579 _aCICLOS ECONOMICOS
773	0		_9163253 _oOP 207/2020/3 _tFinanzArchiv _w(IEF)21244 _x0015-2218 _gvolume 76, september 2020, p. 240-265
942			_cART