The fiscal policy timing lags in order from earliest to latest.
- Information lag
- Recognition lag
- Decision lag
- Implementation lag
What are fiscal policy timing lags?
Generally, Due to the several time delays that are connected with the execution of fiscal policy, it may be challenging to use it to assist the economy in reaching full employment, stable prices, and consistent economic growth.
The first step is to collect, tabulate, and publish the relevant economic data. Second, officials need to make every effort to determine whether or not the economy is heading toward or away from a recession. Third, choices need to be taken on the methods of fiscal policy that will be implemented. Fourth, there must be enough time for the policy to be enacted into law and to have a discernible effect on the economy.
The Keynesian lag, the fiscal lag, and the presidential lag, which are the three items that might be chosen for this question, are not genuine defined fiscal policy delays.
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