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...
| Главный автор: | |
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| Другие авторы: | , , |
| Формат: | Журнал |
| Язык: | English |
| Опубликовано: |
Washington, D.C. :
International Monetary Fund,
2015.
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| Серии: | IMF Working Papers; Working Paper ;
No. 2015/246 |
| Online-ссылка: | Full text available on IMF |