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Government Size and Intersectoral Income Fluctuation: An International Panel Analysis

Government Size and Intersectoral Income Fluctuation: An International Panel Analysis by Daehaeng Kim
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Using the between-sector variation in income as a new measure of economic uncertainty, this paper proposes simple models and supportive empirical evidence for the causal relations between economic uncertainty and government size in the open economy setting. Key empirical findings include: (1) a larger government reduces economic uncertainty, and, at the same time, (2) an economy facing higher uncertainty has a larger government. However, (3) the government tends to resort to redistributive policies to reduce the uncertainty, while (4) government direct spending is also an effective option for the purpose. The study also finds that (5) cross-sectional measure of economic uncertainty tends to rise when a country becomes more open to international trade.
International Monetary Fund; April 2007
34 pages; ISBN 9781452724898
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Title: Government Size and Intersectoral Income Fluctuation: An International Panel Analysis
Author: Daehaeng Kim; Chul-In Lee