这一次确实有所不同:新冠肺炎危机期间财政政策的周期性行为

IF 1.3 3区经济学 Q3 ECONOMICS

Journal of Macroeconomics Pub Date : 2023-06-01 DOI:10.1016/j.jmacro.2023.103522

Philipp Heimberger

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引用次数: 3

摘要

新冠肺炎危机期间的财政政策比之前的（危机）事件更具反周期性。本文在分析1995-2021年28个发达经济体财政政策的周期性行为的基础上，提出了有利于“这一次确实不同”的实证证据。新冠肺炎危机期间（2020年至2021年）的自由裁量财政政策在抵消衰退方面发挥了更大的作用，尤其是在欧元区，因为我们没有找到金融危机或欧元危机期间反周期性的可比证据。自动财政稳定器是财政政策的非自由裁量领域，在疫情期间为反周期稳定做出了重大贡献。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

This time truly is different: The cyclical behaviour of fiscal policy during the Covid-19 crisis

查看原文本刊更多论文

This time truly is different: The cyclical behaviour of fiscal policy during the Covid-19 crisis

Fiscal policy was more countercyclical during the Covid-19 crisis than in previous (crisis) episodes. This paper presents empirical evidence in favour of a “this time truly is different” moment based on analysing the cyclical behaviour of fiscal policy for 28 advanced economies over 1995–2021. Discretionary fiscal policy during the Covid-19 crisis (2020–2021) did more to counteract the downturn – especially in the Eurozone –, as we do not find comparable evidence for countercyclicality during the financial crisis or Euro crisis. Automatic fiscal stabilisers, the non-discretionary domain of fiscal policy, significantly contributed to countercyclical stabilisation during the pandemic.

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来源期刊

Journal of Macroeconomics ECONOMICS-

CiteScore

2.50

自引率

7.10%

发文量

审稿时长

76 days

期刊介绍： Since its inception in 1979, the Journal of Macroeconomics has published theoretical and empirical articles that span the entire range of macroeconomics and monetary economics. More specifically, the editors encourage the submission of high quality papers that are concerned with the theoretical or empirical aspects of the following broadly defined topics: economic growth, economic fluctuations, the effects of monetary and fiscal policy, the political aspects of macroeconomics, exchange rate determination and other elements of open economy macroeconomics, the macroeconomics of income inequality, and macroeconomic forecasting.