When it comes to fiscal policy, it’s better to save for a rainy day than to let it pour by Otaviano Canuto, Francisco Carneiro, and Leonardo Garrido published by Huffington Post (6/2015). “While pro-cyclical fiscal policies – ie. expansionary fiscal policies in booms and contractionary fiscal stances in downturns – remain a common feature among developing countries, some countries have recently moved toward a less pro-cyclical fiscal stance, as a result of stronger institutions.”
Verificar em: http://huff.to/1P5mAyN
