Economic Cycles and Fiscal Policy, Proposal: 1985 – 2018
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Abstract
Objective: This research raises a proposal for Fiscal Policy guidelines based on considering economic cycles. Materials and methods: The research design is descriptive and purposeful. The research strategy is to search in the observed economic cycles, the relevant fiscal policy measures that were used and that serve as inputs for a proposal of guidelines. The study period is the 1985-2018 annual series; it covers 34 annual observations in constant values. Results: The presence of four economic cycles was determined and that the most important experiences occurred in the 1985-1992 cycle. Conclusion: A comprehensive reform of fiscal policy is proposed that considers not only its structure but also the aspects of the economic structure that intervene in its sustainability.
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