Identifying Discretionary Fiscal Policy Reactions with Real-Time Data

We propose a method of identifying discretionary fiscal policy reactions using real-time data. Automatic stabilizers should depend on true GDP, while discretionary fiscal policy is contingent on the information that policy makers have in real time. We can compute a real-time measurement error by com...

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Veröffentlicht in:	Journal of money, credit and banking credit and banking, 2011-09, Vol.43 (6), p.1271-1285
Hauptverfasser:	VON KALCKREUTH, ULF, WOLFF, GUNTRAM B.
Format:	Artikel
Sprache:	eng
Schlagworte:	Bank credit C32 Coefficients discretionary fiscal policy E62 Economic growth rate Economic policy Economics Expenditure Financial economics Fiscal policy GDP Government Government expenditures Gross Domestic Product H30 identification Measurement errors Public finance real-time data Regression analysis Revenue SHORTER PAPERS, DISCUSSIONS, AND LETTERS Studies VAR Vector-autoregressive models
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