{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,10,10]],"date-time":"2026-10-10T06:50:30Z","timestamp":1791615030721,"version":"4.3.4"},"reference-count":54,"publisher":"Wiley","issue":"6","license":[{"start":{"date-parts":[[2026,6,19]],"date-time":"2026-06-19T00:00:00Z","timestamp":1781827200000},"content-version":"vor","delay-in-days":0,"URL":"http:\/\/creativecommons.org\/licenses\/by\/4.0\/"},{"start":{"date-parts":[[2026,6,19]],"date-time":"2026-06-19T00:00:00Z","timestamp":1781827200000},"content-version":"tdm","delay-in-days":0,"URL":"http:\/\/doi.wiley.com\/10.1002\/tdm_license_1.1"}],"content-domain":{"domain":["onlinelibrary.wiley.com"],"crossmark-restriction":true},"short-container-title":["J of Applied Econometrics"],"published-print":{"date-parts":[[2026,9]]},"abstract":"<jats:title>ABSTRACT<\/jats:title>\n                  <jats:p>We analyse fiscal policy in resource\u2010rich economies using a novel Bayesian regime\u2010switching panel model. The identified regimes capture pro\u2010 or countercyclical fiscal behaviour by allowing regime\u2010specific shifts in the average fiscal stance, while the switches between the regimes have the interpretation of changes in fiscal policy. Applying the model to a panel of sixteen oil\u2010producing economies, we show that fiscal policy has alternated between a procyclical and countercyclical regime multiple times over the sample. Furthermore, we find that fiscal policy is more volatile in the procyclical regime and that the probability of being in the procyclical regime is higher for OPEC countries than for non\u2010OPEC countries. We also show that following either an increase or decrease in oil revenues, the growth in government expenditures is mostly increasing, suggesting an upward bias in expenditures in oil\u2010producing countries. These are new findings in the literature.<\/jats:p>","DOI":"10.1002\/jae.70074","type":"journal-article","created":{"date-parts":[[2026,6,19]],"date-time":"2026-06-19T08:14:28Z","timestamp":1781856868000},"page":"776-790","update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":1,"title":["Fiscal Policy Regimes in Resource\u2010Rich Economies"],"prefix":"10.1002","volume":"41","author":[{"given":"Hilde C.","family":"Bj\u00f8rnland","sequence":"first","affiliation":[{"name":"BI Norwegian Business School  Oslo Norway"},{"name":"Norges Bank  Oslo Norway"},{"name":"CAMA  Canberra Australia"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Roberto","family":"Casarin","sequence":"additional","affiliation":[{"name":"Ca' Foscari University Venice  Venice Italy"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Marco","family":"Lorusso","sequence":"additional","affiliation":[{"name":"Department of Political Science University of Perugia  Perugia Italy"},{"name":"Newcastle University Business School  Newcastle upon Tyne UK"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Francesco","family":"Ravazzolo","sequence":"additional","affiliation":[{"name":"BI Norwegian Business School  Oslo Norway"},{"name":"CAMA  Canberra Australia"},{"name":"Free University of Bozen\u2010Bolzano  Bolzano Italy"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"311","published-online":{"date-parts":[[2026,6,19]]},"reference":[{"key":"e_1_2_9_2_1","doi-asserted-by":"publisher","DOI":"10.1002\/jae.2406"},{"key":"e_1_2_9_3_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jeconom.2021.04.004"},{"key":"e_1_2_9_4_1","doi-asserted-by":"publisher","DOI":"10.1214\/09-AOS689"},{"key":"e_1_2_9_5_1","volume-title":"International Commodity Price Shocks, Democracy, and External Debt","author":"Arezki R.","year":"2010"},{"key":"e_1_2_9_6_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jdeveco.2012.11.007"},{"key":"e_1_2_9_7_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jmoneco.2018.07.011"},{"key":"e_1_2_9_8_1","doi-asserted-by":"publisher","DOI":"10.1086\/260807"},{"key":"e_1_2_9_9_1","doi-asserted-by":"publisher","DOI":"10.1002\/jae.2411"},{"key":"e_1_2_9_10_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.qref.2012.08.002"},{"key":"e_1_2_9_11_1","doi-asserted-by":"publisher","DOI":"10.1002\/jae.2501"},{"key":"e_1_2_9_12_1","doi-asserted-by":"publisher","DOI":"10.1111\/ecoj.12302"},{"key":"e_1_2_9_13_1","doi-asserted-by":"publisher","DOI":"10.1002\/jae.2669"},{"key":"e_1_2_9_14_1","doi-asserted-by":"publisher","DOI":"10.1162\/003355302320935043"},{"key":"e_1_2_9_15_1","doi-asserted-by":"crossref","unstructured":"Bova E. 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