OECD Economic Surveys: Estonia 2009

Removing the pro-cyclical bias of fiscal policy

DOI:https://dx.doi.org/10.1787/eco_surveys-est-2009-4-en

The severe economic downturn and high output volatility, in the context of the currency board, underscore the importance of well-designed fiscal policies to help mitigate shocks. Since Estonia’s fiscal policy now exercises a pro-cyclical bias, the ...



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