Government size and automatic stabilizers: international and intranational evidence

This paper documents a strong negative correlation between government size and output volatility both for the OECD countries and across US states. This correlation is robust to the inclusion of a large set of controls as well as to alternative methods of detrending and estimation. In the internation...

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Veröffentlicht in:	Journal of international economics 2001-10, Vol.55 (1), p.3-28
Hauptverfasser:	Fatás, Antonio, Mihov, Ilian
Format:	Artikel
Sprache:	eng
Schlagworte:	Automatic stabilizers Automation Business cycles Economics Evidence Government Government size International economics Intranational economics OECD Organizational size Output rate Stabilization policy U.S.A Volatility
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container_title	Journal of international economics
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creator	Fatás, Antonio Mihov, Ilian
description	This paper documents a strong negative correlation between government size and output volatility both for the OECD countries and across US states. This correlation is robust to the inclusion of a large set of controls as well as to alternative methods of detrending and estimation. In the international sample, a one percentage point increase in government spending relative to GDP reduces output volatility by eight basis points. Whereas in the US states the reduction in volatility is significantly larger ranging from 13 to 40 basis points.
doi_str_mv	10.1016/S0022-1996(01)00093-9
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source	RePEc; Elsevier ScienceDirect Journals Complete
subjects	Automatic stabilizers Automation Business cycles Economics Evidence Government Government size International economics Intranational economics OECD Organizational size Output rate Stabilization policy U.S.A Volatility
title	Government size and automatic stabilizers: international and intranational evidence
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