Public Expenditure and Consumption Volatility

Recent estimates of the welfare cost of consumption volatility find that it is significant in developing nations, where it may reach an equivalent of reducing consumption by 10 percent per year. Hence, examining the determinants of consumption vola...

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Bibliographic Details
Main Authors:	Herrera, Santiago, Vincent, Bruno
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	AGGREGATE CONSUMPTION ANNUAL % GROWTH AVERAGE GROWTH RATE AVERAGE GROWTH RATES BASE YEAR BENCHMARKS BUSINESS CYCLE CAPITA GROWTH CAPITAL ACCOUNT CAPITAL ACCOUNT OPENNESS CAPITAL MARKETS CONSUMPTION EXPENDITURE CONSUMPTION GROWTH CONSUMPTION SMOOTHING CONSUMPTION SPENDING CONSUMPTION VOLATILITY CONTROL VARIABLES CURRENCY DEPENDENCY RATIO DEPENDENT VARIABLE DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DISCRETIONARY FISCAL POLICY DISCRETIONARY POLICY DOMESTIC FINANCIAL MARKETS DOMESTIC FINANCIAL SECTOR ECONOMIC FLUCTUATIONS ECONOMIC GROWTH ECONOMIC POLICY ELASTICITY EQUITY MARKET EXPLANATORY VARIABLES EXPORTS EXTERNAL FINANCING FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL DEVELOPMENT FINANCIAL INTERMEDIARIES FINANCIAL LIBERALIZATION FINANCIAL OPENNESS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL VARIABLES FISCAL DISCIPLINE FISCAL POLICY FISCAL POSITION FIXED EFFECTS FLUCTUATIONS GDP GDP DEFLATOR GDP PER CAPITA GLOBAL ECONOMY GOVERNMENT CONSUMPTION GOVERNMENT SPENDING GROWTH RATES GROWTH VOLATILITY HIGH INCOME HIGH-INCOME COUNTRIES HIGHER VOLATILITY HOUSEHOLD BUDGETS IMPORTS INCOME INCOME TAX INCOMPLETE MARKETS INFLATION INSTITUTIONAL ENVIRONMENT INSTRUMENTAL VARIABLE INSTRUMENTAL VARIABLES INTERACTION TERM INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL MONEY LABOR SUPPLY LATIN AMERICAN LEVEL OF CONFIDENCE LEVEL OF INCOME LIBERALIZATION LOW INCOME LOW INCOME COUNTRIES MACROECONOMIC STABILITY MACROECONOMIC VOLATILITY MARKET INFORMATION MIDDLE INCOME MIDDLE-INCOME COUNTRIES MONETARY ECONOMICS OIL PRICES OPEN CAPITAL ACCOUNT OPEN ECONOMIES OPEN ECONOMY OUTPUT OUTPUT VOLATILITY POLITICAL ECONOMY POLITICAL SYSTEM POLITICAL SYSTEMS PRIVATE CONSUMPTION PUBLIC EXPENDITURE PUBLIC POLICY PUBLIC SPENDING REAL GDP RISK AVERSE RISK AVERSION RISK PREMIUM SIDE EFFECTS SMOOTHING CONSUMPTION STANDARD DEVIATION STANDARD ERRORS STEADY STATE SUPPLY SIDE SUPPLY-SIDE TAX TAX RATE TRADE VOLATILITY TRINIDAD AND TOBAGO UNCERTAINTY URBANIZATION VOLATILITIES VOLATILITY WEALTH
Online Access:	http://documents.worldbank.org/curated/en/2008/05/9473628/public-expenditure-consumption-volatility http://hdl.handle.net/10986/6692

Internet

http://documents.worldbank.org/curated/en/2008/05/9473628/public-expenditure-consumption-volatility
http://hdl.handle.net/10986/6692

Public Expenditure and Consumption Volatility

Internet

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