21.Ilzetzki,E., and Vegh C.,Procyclical Fiscal Policy in Developing Countries: Truth or Fiction? NBER Working Papers, N0.14191, 2008.
[2]
22.Lane, P., The Cyclical Behavior of Fiscal Policy: Evidence from the OECD.Journal of Public Economics Vol.87, No.12, 2003, pp.2661-2675.
[3]
23.Leeper, E., Walker T., and Yang, S., Government Investment and Fiscal Stimulus.Journal of Monetary Economics, Vol.57, No.8, 2010, pp.1000-1012.
[4]
24.Ramey, V., Identifying Government Spending Shocks: It's All in the Timing.Quarterly Journal of Economics, Vol.126, No.1, 2011, pp.1-50.
[5]
25.Ravn, M., and Uhlig, H., On Adjusting the Hodrick-Prescott Filter for the Frequency of Observations.Review of Economics and Statistics, Vol.84, No.1, 2002, pp.371-375.
[6]
26.Romer, C., and Romer D.,The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks.American Economic Review, Vol.100, No.3, 2010, pp 763-801.
[7]
27.Talvi, E., and Vegh C., Tax Base Variability and Procyclicality of Fiscal Policy.Journal of Development Economics, Vol.78, No.1, 2005, pp.156-190.
[8]
28.Vegh, C.A., and Vuletin G.,How is Tax Policy Conducted over the Business Cycle? NBER Working Paper No.17753, 2012.
14.Abbott, A., and Jones P., Budget Deficits and Social Protection: Cyclical Government Expenditure in the OECD.Econ-
[23]
omics Letters, Vol.117, No.3, 2012, pp.909-911.
[24]
15.Alesina, A., Filipe C., and Tabellini, G., Why is Fiscal Policy Often Procyclical? Journal of the European Economic Association, Vol.6, No.5, 2008, pp.1006-1036.
[25]
16.Barro, R. and Redlick, C., Macroeconomic Effects of Government Purchases and Taxes.Quarterly Journal of Economics, Vol.126, No.1, 2011, pp.51-102.
[26]
17.Blanchard, O., and Perotti, R., An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output. Quarterly Journal of Economics, Vol.117, No.4, 2002, pp.1329-1368.
[27]
18.Erbil, N., Is Fiscal Policy Procyclical in Developing Oil-Producing Countries? IMF Working Paper WP/11/171, 2011.
[28]
19.Frankel, J., Vegh C., and Vuletin G.,On Graduation from Fiscal Procyclicality.Journal of Development Economics, Vol.100, No.1, 2013, pp.32-47.
[29]
20.Gavin, M. and Perotti, R., Fiscal Policy in Latin America, NBER Macroeconomics Annual, Vol.12, 1997, pp.11-61.
