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Was this time different? (Céspedes and Velasco)
dez 9, 2011, 8:00 PM 0
Was this time different?: Fiscal policy in commodity republics by Luis Felipe Céspedes and Andrés Velasco published by BIS. “Accordinga to standard economic theory, fiscal policy should be countercyclica. In the neoclassical smoothing model of Barro (1979), a government…