The aim of the paper is to estimate the effects of structural public balance adjustment on growth in 25 OECD countries with special attention to selected Eurozone countries in the years 2000-2013. The estimates show a positive effect of discretionary fiscal policy on GDP growth and support the conclusion that structural adjustments have negative effects on growth irrespective of macroeconomic conditions. These results show that, if the reduction of the structural balance has to be considered as an objective to be achieved per se, such a goal should not be pursued in times of deteriorating macroeconomic conditions.

Structural public balance adjustment effects on growth in 25 OECD countries and the eurozone / Canale, R; R, ; Liotti, Giorgio; Napolitano, O.. - In: COMPARATIVE ECONOMIC STUDIES. - ISSN 0888-7233. - 56:4(2014), pp. 635-656. [10.1057/ces.2014.26]

Structural public balance adjustment effects on growth in 25 OECD countries and the eurozone

LIOTTI, GIORGIO;
2014

Abstract

The aim of the paper is to estimate the effects of structural public balance adjustment on growth in 25 OECD countries with special attention to selected Eurozone countries in the years 2000-2013. The estimates show a positive effect of discretionary fiscal policy on GDP growth and support the conclusion that structural adjustments have negative effects on growth irrespective of macroeconomic conditions. These results show that, if the reduction of the structural balance has to be considered as an objective to be achieved per se, such a goal should not be pursued in times of deteriorating macroeconomic conditions.
2014
Structural public balance adjustment effects on growth in 25 OECD countries and the eurozone / Canale, R; R, ; Liotti, Giorgio; Napolitano, O.. - In: COMPARATIVE ECONOMIC STUDIES. - ISSN 0888-7233. - 56:4(2014), pp. 635-656. [10.1057/ces.2014.26]
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11588/636152
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