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Acronyms that contain the term procyclical and countercyclical
What does procyclical and countercyclical mean? This page is about the various possible meanings of the acronym, abbreviation, shorthand or slang term: procyclical and countercyclical.
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What does procyclical and countercyclical mean?
- procyclical and countercyclical
- Procyclical and countercyclical variables are variables that fluctuate in a way that is positively or negatively correlated with business cycle fluctuations in gross domestic product (GDP). The scope of the concept may differ between the context of macroeconomic theory and that of economic policy–making. The concept is often encountered in the context of a government's approach to spending and taxation. A 'procyclical fiscal policy' can be summarised simply as governments choosing to increase government spending and reduce taxes during an economic expansion, but reduce spending and increase taxes during a recession. A 'countercyclical' fiscal policy takes the opposite approach: reducing spending and raising taxes during a boom period, and increasing spending and cutting taxes during a recession.
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