Recognizing the Bias : Financial Cycles and Fiscal Policy /
This paper argues that asset price cycles have significant effects on fiscal outcomes. In particular, there is evidence of debt bias-the tendency of debt to increase over the cycle- that is significantly larger for house price cycles than stand-alone business cycles. Automatic stabilizers and discre...
| Autor principal: | |
|---|---|
| Altres autors: | , , |
| Format: | Revista |
| Idioma: | English |
| Publicat: |
Washington, D.C. :
International Monetary Fund,
2015.
|
| Col·lecció: | IMF Working Papers; Working Paper ;
No. 2015/246 |
| Accés en línia: | Full text available on IMF |