Intergovernmental transfers and procyclical public spending

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• 作者：Andrew Abbott^a ; ^{a.abbott@hull.ac.uk} ; Philip Jones^b ; ^{p.r.jones@bath.ac.uk}
• 关键词：E62 ; H50 ; H60 ; H70
• 刊名：Economics Letters
• 出版年：2012
• 出版时间：June, 2012
• 年：2012
• 卷：115
• 期：3
• 页码：447-451
• 全文大小：239 K

文摘

This paper tests the predictions that (i) sub-central government expenditures are procyclical and (ii) sub-central government expenditures are likely to be more procyclical than central government spending. The predictions are based on the importance of ¡®voracity effects?and on the proposition that they are systematically more pervasive if spending is financed by intergovernmental transfers. Evidence from 23 OECD countries between 1995 and 2006 indicates that sub-central government spending is more procyclical than central government expenditure.