Figure 1
The multi-panel line graph titled “fis(fiscal deficit)”, “pov (poverty indicator)”, “fis prime plus”, “pov prime plus”, “fis prime minus” and “pov prime minus” contains six panels labeled Panel a on the left, Panel a on the right, Panel b on the left, Panel b on the right, Panel c on the left and Panel c on the right. The horizontal axis ranges from 1985 to 2020 in increments of 5 units and is consistent for all the panels. Panel a on the left: The vertical axis ranges from negative 10 to 2 in increments of 2 units. A single solid line represents fiscal deficit values. The line begins near negative 4 around 1980, fluctuates downward to a low near negative 9 around 1993, rises sharply to around 1 near 1996, drops again near negative 5 around 1999, then gradually increases toward 0 around 2005, fluctuates slightly below 0 through 2015, and declines again to near negative 5, and ends near 2022. Panel a on the right: The vertical axis ranges from 30 to 65 in increments of 5 units. A single solid line represents poverty indicator values. The line begins near 30 around 1980, rises to about 45 by 1985, dips slightly near 42 around 1992, rises sharply to around 62 near 1995, declines gradually to about 55 around 2005, increases again to around 60 near 2010, then declines steadily to near 30, and ends near 2022. panel b on the left: The vertical axis ranges from 0 to 24 in increments of 4. A single solid line represents the data series. The line begins near 0 around 1980, increases gradually to about 2 by the early 1980s, rises to around 4 by the late 1980s, increases further to about 6 by the early 1990s, then rises sharply to around 15 near 1995, remains near 15 to 16 until around 2000, increases to about 19 around 2001, then gradually rises to around 21 by 2005, continues a slow increase to 23 by 2015, and remains near 23 to 24 to ends at 2022. Panel b on the right: The vertical axis ranges from 0 to 45 with increments of 5. A single solid line represents the data series. The line begins near 5 around 1980, rises to about 15 by the mid 1980s, remains near 15 until the early 1990s, increases sharply to around 35 near 1995, remains near 35 until around 2005, rises to about 40 around 2010, and remains near 40 to end at 2022. Panel c on the left: The vertical axis ranges from 0 to negative30 in increments of 5 units. A single solid line represents the data series. The line begins near negative 2 around 1985, declines to about negative 6 by 1990, decreases further to around negative 12 by 1995, remains near negative 12 until around 1997, then declines sharply to about negative 20 around 2000, remains near negative 20 until around 2008, decreases to about negative 22 around 2010, then gradually declines to negative 26 to end at 2020. Panel c on the right: The vertical axis ranges from 0 to negative50 in increments of 10. A single solid line represents the data series. The line begins near 0 around 1985, declines slightly to about negative 5 by 1990, remains near negative 5 until around 1995, then decreases to about negative 12 around 2000, remains near negative 12 until around 2010, declines to negative 25 by 2015, and decreases sharply to about negative 40 to end at 2020. Note: All numerical data values are approximated.Actual data of fiscal deficit and poverty indicator and their positive and negative shocks' components