The effects of fiscal and monetary discipline on budgetary outcomes

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dc.citation.epage155en_US
dc.citation.issueNumber2en_US
dc.citation.spage146en_US
dc.citation.volumeNumber25en_US
dc.contributor.authorNeyapti, B.en_US
dc.contributor.authorOzgur, S.en_US
dc.date.accessioned2016-02-08T10:14:42Z
dc.date.available2016-02-08T10:14:42Z
dc.date.issued2007en_US
dc.departmentDepartment of Economicsen_US
dc.description.abstractThis article extends the model of Von Hagen and Harden that analyzed the impact of fiscal discipline on budgetary outcomes. We modify the model by adding monetary discipline to interact with fiscal discipline in order to analyze the effects of both on budgetary outcomes. The model predicts that while both inflation and budget deficits are negatively associated with fiscal discipline, they may be positively associated with monetary discipline, proxied by central bank independence. This result obtains due to optimizing agents internalizing the burden of spending: inflation. Although not conclusive due to data limitations, empirical findings also support these predictions. (JEL D73, E58, H61, H72). © 2007 Western Economic Association International.en_US
dc.identifier.doi10.1111/j.1465-7287.2007.00034.xen_US
dc.identifier.eissn1465-7287
dc.identifier.issn1074-3529
dc.identifier.urihttp://hdl.handle.net/11693/23491
dc.language.isoEnglishen_US
dc.publisherWiley-Blackwell Publishing, Inc.en_US
dc.relation.isversionofhttp://dx.doi.org/10.1111/j.1465-7287.2007.00034.xen_US
dc.source.titleContemporary Economic Policyen_US
dc.titleThe effects of fiscal and monetary discipline on budgetary outcomesen_US
dc.typeArticleen_US
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