OECD Economics Department Working Papers

Fiscal Convergence, Business Cycle Volatility and Growth

DOI:https://dx.doi.org/10.1787/226475824848

This paper analyzes the effects of fiscal convergence on business cycle volatility and growth. Using a panel 21 OECD countries (including 11 EMU countries) and 40 years of data, we find that countries with similar government budget positions tend to have smoother business cycles. That is,...



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