Do Fiscal Rules Cause Better Fiscal Balances A New Instrumental Variable Strategy is popular PDF and ePub book, written by Francesca G Caselli in 2019-03-05, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Do Fiscal Rules Cause Better Fiscal Balances A New Instrumental Variable Strategy can be Read Online from any device for your convenience.
Do Fiscal Rules Cause Better Fiscal Balances A New Instrumental Variable Strategy Book PDF Summary
This paper estimates the causal effect of fiscal rules on fiscal balances in a panel of 142 countries over the period 1985-2015. Our instrumental variable strategy exploits the geographical diffusion of fiscal rules across countries. The intuition is that reforms in neighboring countries may affect the adoption of domestic reforms through peer pressure and imitational effects. We find that fiscal rules correlate with lower deficits, but the positive link disappears when endogeneity is correctly addressed. However, when considering an index of fiscal rules’ design, we show that well-designed rules have a statistically significant impact on fiscal balances. We conduct several robustness tests and show that our results are not affected by weak instrument problems.
Detail Book of Do Fiscal Rules Cause Better Fiscal Balances A New Instrumental Variable Strategy PDF
- Author : Francesca G Caselli
- Release : 05 March 2019
- Publisher : International Monetary Fund
- ISBN : 9781498302838
- Genre : Business & Economics
- Total Page : 27 pages
- Language : English
- PDF File Size : 10,6 Mb
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