Title:

The Failure of Stabilization Policy: Balanced-Budget Fiscal Rules in the Presence of Incompressible Public Expenditures

Authors:

Nicolas Abad (Universite de Rouen Normandie)
Teresa Lloyd-Braga (U Católica Portuguesa)
Leonor Modesto (U Católica Portuguesa, IZA, Bonn)

Journal:

Journal of Economic Dynamics and Control

Year:

2020

Volume:

120

JEL codes:

E32 - Business Fluctuations; Cycles
E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization
H5 - National Government Expenditures and Related Policies
H6 - National Budget, Deficit, and Debt

DOI:

10.1016/j.jedc.2020.103996