In: Ekonomický časopis/Journal of Economics, vol. 59, no. 1
Petre Caraiani
Detaily:
Rok, strany: 2011, 79 - 104
Kľúčové slová:
DSGE models, small open economy, CEE countries, fiscal policy, monetary policy
Typ článku: Vedecký článok / Article
O článku:
I investigate the fiscal policy in CEE countries using evidence from two of the most important economies, Czech Republic and Romania. A small open economy model with a Taylor fiscal rule is estimated on quarterly data for these countries. I explore the potential of counter-cyclical fiscal policy in the context of the ongoing financial crisis, the reaction of the fiscal policy to negative demand shocks or to a more relaxed monetary policy, as well as the impact of fiscal shocks. There are evidences that fiscal shocks during the last years behaved in a pro-cyclical way and it appears that the countercyclical potential of fiscal policy during the financial crisis remained largely unused.
I investigate the fiscal policy in CEE countries using evidence from two of the most important economies, Czech Republic and Romania. A small open economy model with a Taylor fiscal rule is estimated on quarterly data for these countries. I explore the potential of counter-cyclical fiscal policy in the context of the ongoing financial crisis, the reaction of the fiscal policy to negative demand shocks or to a more relaxed monetary policy, as well as the impact of fiscal shocks. There are evidences that fiscal shocks during the last years behaved in a pro-cyclical way and it appears that the countercyclical potential of fiscal policy during the financial crisis remained largely unused.
Ako citovať:
ISO 690:
Caraiani, P. 2011. Fiscal Policy in CEE Countries. Evidence from Czech Republic and Romania. In Ekonomický časopis/Journal of Economics, vol. 59, no.1, pp. 79-104. 0013-3035.
APA:
Caraiani, P. (2011). Fiscal Policy in CEE Countries. Evidence from Czech Republic and Romania. Ekonomický časopis/Journal of Economics, 59(1), 79-104. 0013-3035.