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Moreover, the effect is larger during recessions \u2013 when financing constraints are more likely to be binding \u2013 than during economic expansions. Our statistical method mitigates concerns about omitted variable bias and reverse causality. In addition, the results are robust to different measures of fiscal counter-cyclicality and to the inclusion of several controls.<\/jats:p>","DOI":"10.1515\/bejm-2017-0222","type":"journal-article","created":{"date-parts":[[2018,9,28]],"date-time":"2018-09-28T09:01:47Z","timestamp":1538125307000},"source":"Crossref","is-referenced-by-count":4,"title":["Fiscal counter-cyclicality and productive investment: evidence from advanced economies"],"prefix":"10.1515","volume":"19","author":[{"given":"Davide","family":"Furceri","sequence":"first","affiliation":[{"name":"International Monetary Fund, Research Department , 700 19th Street NW , Washington, DC 20431 , USA"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-7171-5076","authenticated-orcid":false,"given":"Jo\u00e3o Tovar","family":"Jalles","sequence":"additional","affiliation":[{"name":"International Monetary Fund, Fiscal Affairs Department , 700 19th Street NW , Washington, DC 20431 , USA , Phone: +1-202-623-8689"}]}],"member":"374","published-online":{"date-parts":[[2018,9,28]]},"reference":[{"key":"2023033111505668262_j_bejm-2017-0222_ref_001_w2aab3b7b7b1b6b1ab1b5b1Aa","doi-asserted-by":"crossref","unstructured":"Abiad, A., G. 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