Fiscal policy cyclicality and sovereign risk premia

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dc.contributor.author Kilponen, Juha
dc.date.accessioned 2014-09-23T07:28:14Z
dc.date.available 2014-09-23T07:28:14Z
dc.date.issued 2012
dc.identifier.uri https://helda.helsinki.fi/bof/handle/123456789/10739
dc.description.abstract A countercyclical fiscal policy is beneficial to the economy, as it smoothes out business cycle fluctuations and reduces government debt servicing costs. If, on the other hand, fiscal policy is procyclical, this hampers the capacity of monetary policy to foster macroeconomic stability. This being the case, decisions by euro area member countries that enhance fiscal discipline will increase stability in the euro area.
dc.format.extent 49-58
dc.language.iso eng
dc.rights https://helda.helsinki.fi/bof/copyright
dc.subject valtionvelka
dc.subject joukkovelkakirjat
dc.subject riskit
dc.subject preemiot
dc.subject finanssipolitiikka
dc.subject suhdanteet
dc.subject hinnat
dc.subject mallit
dc.subject rahapolitiikka
dc.subject vakaus
dc.subject SP
dc.subject RP
dc.title Fiscal policy cyclicality and sovereign risk premia
dc.type Artikkeli
dc.identifier.urn URN:NBN:fi:bof-201408073684
dc.series.name Bank of Finland. Bulletin. Monetary policy and the global economy
dc.series.number 4

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