This paper studies the cyclical properties of two key expenditure categories (current and
public investment spending) during the different phases of the business cycle (good times …

Anecdotal evidence suggests that policymakers usually cannot resist the temptation of
spending more on current expenditure (eg, wages, transfers) in good times and mostly pick …

As part of the regional integration process, East African Community (EAC) member countries
agreed upon macroeconomic convergence criteria that include, among others, harmonizing …

This paper presents estimates of the effects that terms of trade volatility has on real gross
domestic product (GDP) per capita growth. Based on 5‐year nonoverlap** panel data …

This paper expands the analysis of the cyclical characteristics of social spending by
providing information on its joint behaviour across OECD countries. With this aim we …

This paper reevaluates the common characterization of commodity-exporting develo**
economies as having excessively procyclical fiscal policy. We develop a new measure of …

This paper examines the conduct of fiscal policy in Brunei from 2003Q1 to 2014Q2, focusing
on the cyclical patterns in government expenditure. The results from a structural vector …

Do sources of volatility differ by country characteristics such as the level of development,
country size, quality of institutions, and presence of restrictions on fiscal policy? This paper …

An essential part of the ongoing normative debate on how to design the cyclical movements
of fiscal policy practices argues that counter-cyclical fiscal policies based on the Keynesian …

This paper analyzes the business cycle characteristics of the economies of the Organization
of Eastern Caribbean States using a model of a small open economy subject to interest rate …