ON THE CYCLICAL BIAS IN GOVERNMENT SPENDING

Zvi Hercowitz () and Michel Strawczynski

No 1998.06, Bank of Israel Working Papers from Bank of Israel

Abstract: First, this paper reports ifndings that the prolonged rise in the spending/output ratio in OECD countries is related to a cyclical bias: countercyclical spending in contractions and procyclical spending in expansions. Then, atfer brielfy discussing the policy implications of the cyclical bias, the paper adresses the recent experience of Israel under the Budget Deficit Reduction Law.

Pages: 35 pages
Date: 1998-07
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Persistent link: https://EconPapers.repec.org/RePEc:boi:wpaper:1998.06

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