Non-linear effects of fiscal adjustments on output growth: Does uncertain environment matter?
This paper proposes a Markov-switching model to assess the fiscal adjustments for the period 1990Q1-2018Q3. Our results indicate that the output growth response asymmetry to the change in the budget position only during stable regime. The positive change in the budget position dampens the output gro...
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| Format: | Conference or Workshop Item |
| Language: | English |
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2019
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| Online Access: | http://eprints.um.edu.my/21581/1/Soon%20Siew%20Voon%20-%20Conference%20paper.pdf |