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010   $a981-13-2995-8
024 7 $a10.1007/978-981-13-2995-1
035   $a(CKB)4100000007335135
035   $a(DE-He213)978-981-13-2995-1
035   $a(MiAaPQ)EBC5626981
035   $a(EXLCZ)994100000007335135
100   $a20181228d2018      u|         0
101 0 $aeng
135   $aurnn|008mamaa
181   $ctxt$2rdacontent
182   $cc$2rdamedia
183   $acr$2rdacarrier
200 10$aProcyclical Fiscal Policy$b[electronic resource] /$fby Toshihiro Ihori, Keigo Kameda
205   $a1st ed. 2018.
210  1$aSingapore :$cSpringer Singapore :$cImprint: Springer,$d2018.
215   $a1 online resource (XIII, 68 p. 19 illus., 9 illus. in color.) 
225 1 $aDevelopment Bank of Japan Research Series,$x2367-0967
311   $a981-13-2994-X 
327   $a1 Numerical Overview of Fiscal Cyclicality -- 2 Theory of Procyclical Fiscal Policy -- 3 Budget Deficits and Income Fluctuation in a Political Economy.
330   $aConventional wisdom dictates that a fiscal policy should be counter-cyclical. However, contrary to this conventional views, recent research has demonstrated that fiscal policy is actually procyclical in most developing countries. In this book, we attempt to propose a new interpretation of this procyclicality after reviewing theoretical and empirical evolution of the research. In particular, by incorporating the political effort behavior of private agents into a weak government model, we explore how income fluctuations affect the optimal budget deficits in a political economy. If the government can control the political behavior, normally, the optimal budget deficit should rise in a recession as a first-best case; however, interestingly, a recession does not necessarily prompt an increase in the budget deficits in a second-best political economy. The response of the budget deficits to income fluctuations mainly depends on the efficiency of political effort, which may correspond to the degree of democracy and bureaucratic efficiency of the governments. We test the prediction of the pro-cyclical fiscal policy and find it applicable for democratic countries with semi-efficient governments including Japan.
410  0$aDevelopment Bank of Japan Research Series,$x2367-0967
606   $aFinance, Public
606   $aAsia-Economic conditions
606   $aPublic Economics$3http://scigraph.springernature.com/things/product-market-codes/W34000
606   $aAsian Economics$3http://scigraph.springernature.com/things/product-market-codes/W45010
615  0$aFinance, Public.
615  0$aAsia-Economic conditions.
615 14$aPublic Economics.
615 24$aAsian Economics.
676   $a336
700   $aIhori$b Toshihiro$4aut$4http://id.loc.gov/vocabulary/relators/aut$0140866
702   $aKameda$b Keigo$4aut$4http://id.loc.gov/vocabulary/relators/aut
906   $aBOOK
912   $a9910303445903321
996   $aProcyclical Fiscal Policy$92519967
997   $aUNINA