Název: Economic Research Bulletin (2013, No.2)
Číslo části: No. 2, Vol. 11, November 2013
Název části: Macroeconomic Effects of Fiscal Policy
Autoři: Česká národní banka
Typ dokumentu: Firemní tisk
ISSN: 1803-7089
Rok: 2013
Jazyk: eng
Nakladatel: Česká národní banka
Abstrakt: This edition of the Research Bulletin focuses on four articles which analyse the macroeconomic effects of fiscal policy. The first article examines the interactions between monetary and fiscal policies in six industrialised countries during 1980–2008. Employing a novel empirical framework, the article documents changes in monetary-fiscal interactions over time. Next, these changes are linked to the monetary policy regime set-up. The second article assesses the extent to which fiscal discretion in the Czech Republic contributed to smoothing the real economy over the business cycle in the past decade. Using several alternative approaches, the results suggest that fiscal discretionary measures have been procyclical, that is, have amplified business cycle fluctuations. The third article analyses in an empirical framework how unexpected changes to government spending and revenues affect the Czech economy. The article detects certain regularities and at the same time shows the limits of the existing identification methods when applied to short Czech fiscal data. The fourth article takes a complementary approach by building a dynamic stochastic general equilib rium (DSGE) model to quantify the effects of fiscal measures on the expenditure and revenue sides of the Czech economy. The model, which is still rather in the development stage, demonstrates the potential for calculating fiscal multipliers and simulating the macroeconomic effects of fiscal measures for individual categories of the government budget.
Klíčová slova: bayesovský přístup; DSGE model; fiskální politika; hrubý domácí produkt; makroekonomická stabilita; makroekonomie; monetární politika; česká ekonomika; Bayesian approach; fiscal policy; gross domestic product; macroeconomics; monetary policy
Práva: Dílo je chráněno podle autorského zákona č. 121/2000 Sb.

Instituce: Česká národní banka (web)
Externí umístění souboru: http://www.cnb.cz/en/research/research_publications/erb/index.html

Trvalý odkaz NUŠL: http://www.nusl.cz/ntk/nusl-166112


Záznam je zařazen do těchto sbírek:
Ostatní > Česká národní banka
Firemní literatura > Firemní tisk
 Záznam vytvořen dne 2013-12-06, naposledy upraven 2023-12-11.


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