01584cas a2200241 a 4500 AALejournalIMF007437 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451927573 1018-5941 BD-DhAAL BD-DhAAL Fiorito, Riccardo. Stylized Facts of Government Finance in the G-7 / Riccardo Fiorito. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (54 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The stylized facts of government finance in the Group of Seven (G-7) industrial countries show that revenues lag real GDP procyclically, while government spending in most cases fails to lead the economy procyclically. This finding is not confined to transfers but also applies to the wage component of government consumption as well as, in most cases, to government fixed investment. Government deficits are always countercyclical but there is little evidence that stabilization is equally successful in stimulating the economy before shocks materialize. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1997/142 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/142/001.1997.issue-142-en.xml IMF e-Library