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Kydland Finn, E. and Prescott, E.C. (1997) Rules Rather than Discretion: The Inconsistency of Optimal Plans. The Journal of Political Economy, 85, 473-492.

has been cited by the following article:

• TITLE: Fiscal Policy and Economic Cycles in Congo

  AUTHORS: Antoine Ngakosso

  KEYWORDS: Fiscal Policy, Economy Cycles, Fiscal Rule, Debt Instability, Congo

  JOURNAL NAME: Modern Economy, Vol.9 No.1, January 18, 2018

  ABSTRACT: The purpose of this paper is to respond on discretionary fiscal policy on economic cycles in Congo. A fiscal reaction function developed by Huart was thus estimated over the 1989-2015 period. It comes out from the results that the fiscal policies carried out during this period were both counter-cyclical and pro-cyclical expansionist. This resulted in instability of the public debt and an accumulation of payment arrears.