What the Data Say about the Effects of Fiscal Policy in the Czech Republic?

Kód výsledku v IS VaVaI

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Nalezeny alternativní kódy

RIV/67985556:_____/10:00349668

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

What the Data Say about the Effects of Fiscal Policy in the Czech Republic?

Popis výsledku v původním jazyce

We provide the estimates of the fiscal multiplier in the Czech economy, based on the methodology of the fiscal VAR. We utilize the dataset with quarterly data on a sample from the first quarter of 1998 to the second quarter of 2009. Our main results areas follows. Firstly, government expenditures have a positive and significant impact on the GDP. By contrast, a response of GDP on a shock to government revenues is slightly negative and in most specifications not significant. Secondly, these results arerobust to various sensitivity checks. Consequently, the restoration of sustainable fiscal policy should focus rather on the revenues side than in the government expenditures, since a significant cut in government spending would probably have slowed downeconomic growth. Finally, uncertainty connected with our results is large, namely in comparison with existing studies on the effects of monetary policy.

Název v anglickém jazyce

What the Data Say about the Effects of Fiscal Policy in the Czech Republic?

Popis výsledku anglicky

We provide the estimates of the fiscal multiplier in the Czech economy, based on the methodology of the fiscal VAR. We utilize the dataset with quarterly data on a sample from the first quarter of 1998 to the second quarter of 2009. Our main results areas follows. Firstly, government expenditures have a positive and significant impact on the GDP. By contrast, a response of GDP on a shock to government revenues is slightly negative and in most specifications not significant. Secondly, these results arerobust to various sensitivity checks. Consequently, the restoration of sustainable fiscal policy should focus rather on the revenues side than in the government expenditures, since a significant cut in government spending would probably have slowed downeconomic growth. Finally, uncertainty connected with our results is large, namely in comparison with existing studies on the effects of monetary policy.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

Výsledek vznikl pri realizaci vícero projektů. Více informací v záložce Projekty.

Návaznosti

Z - Vyzkumny zamer (s odkazem do CEZ)

Rok uplatnění

2010

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Mathematical Methods in Economics 2010

ISBN

978-80-7394-218-2

ISSN

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e-ISSN

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Počet stran výsledku

5

Strana od-do

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Název nakladatele

University of South Bohemia

Místo vydání

Ceske Budejovice

Místo konání akce

České Budějovice

Datum konání akce

8. 9. 2010

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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