AN ANALYSIS OF THE STABILIZATION EFFECTS OF SOCIAL SPENDING
The macroeconomic literature on automatic stabilizers; smoothing and risk sharing mechanisms has mostly concentrated on the role played by taxes; transfers and unemployment benefits. In contrast; very few works have analyzed the role of total social spending and its categories in smoothing output fluctuations. This paper presents the results of several studies evaluating the stabilization effects of the various components of social spending on GDP variations
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