Series: IMF Working Papers
Author(s): Riccardo Fiorito
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 1997
Keywords: Stylized Facts, Business Cycle, Government Finance, real gdp, taxation, tax rates, business cycles
The stylized facts of government finance in the Group of Seven (G-7) industrial countries show that revenues lag real GDP procyclically, while government spending in most cases fails to lead the economy procyclical...