Why is Fiscal Policy Often Procyclical?
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Many countries, especially developing ones, follow procyclical fiscal polices, namely spending goes up (taxes go down) in booms and spending goes down (taxes go up) in recessions. We provide an explanation for this suboptimal fiscal policy based upon political distortions and incentives for less
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美国国家经济研究局创建时间：
2005-09-01
