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dc.contributor.authorCLAEYS, Peter
dc.date.accessioned2006-10-30T10:38:23Z
dc.date.available2006-10-30T10:38:23Z
dc.date.issued2006
dc.identifier.citationEmpirica, 2006, 33, 2/3, 89-112en
dc.identifier.urihttp://hdl.handle.net/1814/6304
dc.description.abstractThis paper characterizes rules-based fiscal policy setting for G-3 and large EMS countries. We set up a simple fiscal policy rule and then infer on the policymakers’ reaction coefficients by testing with GMM. Our results qualify existing evidence on systematic fiscal policy in two respects. First, fiscal policy usually stabilizes public debt; and there is indeed substantial interaction between fiscal and monetary policies via the policy mix or the debt channel. Second, sustainability is achieved with a ‘‘stop–go’’ cycle of consolidation. Unless debt ratios are high, consolidation does not come at the cost of less cyclical stabilizationen
dc.language.isoenen
dc.relation.ispartofEmpirica
dc.titlePolicy Mix and Debt Sustainability: Evidence from Fiscal Policy Rulesen
dc.typeArticleen
dc.neeo.contributorCLAEYS|Peter|aut|
dc.identifier.volume33
dc.identifier.startpage89
dc.identifier.endpage112
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