OECD Economics Department Working Papers
Stabilization Effects of Social Spending: Empirical Evidence from a Panel of OECD Countries Overcoming the Financial Crisis in the United States
DOI:https://dx.doi.org/10.1787/226428280228
The aim of this paper is to assess the ability of social spending to smooth output shocks and to provide stabilization. The results show that overall social spending is able to smooth about 16 percent of a shock to GDP. Among its subcategories, social spending devoted to Old Age and...
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