Macroeconomic Shocks and the Fiscal Stance within the EU: A Panel Regression Analysis
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F12%3A86078901" target="_blank" >RIV/61989100:27510/12:86078901 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Macroeconomic Shocks and the Fiscal Stance within the EU: A Panel Regression Analysis
Original language description
The recent global financial crisis has had a diverse effect on countries? fiscal stance, especially throughout the EU. This paper examines the impact of macroeconomic shocks, including those to government revenues and expenditures, on EU countries? fiscal stance, on aggregate, and within the EU?s sub-regions as defined by the length of countries? membership in the EU and their level of indebtedness. The fiscal stance is measured by means of the government deficit, and the impact of macroeconomic shocksis examined using impulse responses from a structural vector autoregression (SVAR) model estimated on annual panel data. The analyzed system of macroeconomic variables includes, government revenues and expenditures, GDP growth, CPI inflation, the interest rate, the terms of trade, and the real effective exchange rate. The paper discusses the policy implications and the challenges for the EU and its sub-regions concerning the fiscal policy setting and balanced fiscal stance.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
<a href="/en/project/GAP402%2F10%2F1046" target="_blank" >GAP402/10/1046: Fiscal Policy and the Czech Economy: Macroeconometric Studies</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2012
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Proceedings of the 13th International Conference on Finance and Banking : 12-13 October 2011, Ostrava, Czech Republic
ISBN
978-80-7248-753-0
ISSN
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e-ISSN
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Number of pages
10
Pages from-to
80-89
Publisher name
Silesian University, School of Business Administration
Place of publication
Karviná
Event location
Ostrava
Event date
Oct 12, 2011
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
000309369700008