Europe's and Japan's fiscal actions procyclical

Discretionary fiscal policy tended to be procyclical in continental European countries and Japan, a new paper from the International Monetary Fund posits.

The research also finds that fiscal action has generally been countercyclical and more timely in Anglo-Saxon countries. On average, the paper finds, although less timely than monetary policy, discretionary fiscal policy is more effective than conventional wisdom suggests.

Click here to read the paper

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