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Book Cover
Author Silgoner, Maria Antoinette, author

Title The fiscal smile : the effectiveness and limits of fiscal stabilizers / Maria Antoinette Silgoner, Gerhard Reitschuler, and Jesús Crespo-Cuaresma
Published Washington, D.C. : International Monetary Fund, [2003]
Online access available from:
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Description 1 online resource (29 pages) : illustrations
Series IMF working paper ; WP/03/182
IMF working paper ; WP/03/182
Summary We study the smoothing impact of fiscal stabilizers (proxied by government expenditures or revenues) on business cycle volatility for a panel of EU countries in the period 1970-99. The results show that the business cycle volatility smoothing effect of fiscal stabilizers may revert at high levels. We present evidence that for government expenditure ratios exceeding an estimated value of about 38 percent, a further expansion in the size of the government could actually lead to an increase in cyclical volatility. This may call for a reconsideration of the use of fiscal stabilizers for business cycle smoothing
Bibliography Includes bibliographical references (pages 27-29)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Business cycles -- European Union countries -- Econometric models.
Economic stabilization -- European Union countries -- Econometric models.
Expenditures, Public -- Econometric models.
Fiscal policy -- European Union countries -- Econometric models.
Form Electronic book
Author Crespo-Cuaresma, Jesús, author
Reitschuler, Gerhard, author
International Monetary Fund. European I Department.
ISBN 1451904649