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Keywords: Budget deficits
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Journal Articles
Journal:
Journal of Economic Studies
Journal of Economic Studies (2012) 39 (3): 327–336.
Published: 27 July 2012
... aggressive in their response to budget deficits than budget surpluses. Second, given the close connection between the budget and business cycles due to the presence of automatic stabilizers and the asymmetric behavior of business cycles, such asymmetries may be transmitted to the budgetary adjustment process...
