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The Cyclical Conduct of Irish Fiscal Policy
Author(s) -
Bénétrix Agustín S.,
Lane Philip R.
Publication year - 2012
Publication title -
the world economy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.594
H-Index - 68
eISSN - 1467-9701
pISSN - 0378-5920
DOI - 10.1111/j.1467-9701.2012.01483.x
Subject(s) - fiscal policy , irish , economics , fiscal union , macroeconomics , financial crisis , keynesian economics , monetary economics , economic policy , linguistics , philosophy
This paper provides an overview of the cyclical conduct of fiscal policy in Ireland both before and during the crisis. It shows that fiscal policy has been procyclical, with financial shocks amplifying the fiscal cycle. In addition, it highlights the importance of institutional reform and outlines the case for a formal fiscal framework.