Fiscal devaluation in a small open economy

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11640%2F19%3A00505022" target="_blank" >RIV/00216208:11640/19:00505022 - isvavai.cz</a>

Výsledek na webu

<a href="https://rjmf.econs.online/upload/iblock/64a/RJMF_78-01_ENG_Ambrisko.pdf" target="_blank" >https://rjmf.econs.online/upload/iblock/64a/RJMF_78-01_ENG_Ambrisko.pdf</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.31477/rjmf.201901.67" target="_blank" >10.31477/rjmf.201901.67</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Fiscal devaluation in a small open economy

Popis výsledku v původním jazyce

Fiscal devaluation, meaning a shift from payroll to indirect taxes, can be beneficial for a small open economy such as the Czech Republic. Using a structural fiscal DSGE model, I show that fiscal devaluation can boost real GDP growth by 0.5 percentage points in the first year, when a budget-neutral tax shift of the magnitude of 1% of GDP occurs from direct taxes to consumption tax. I also calculate fiscal multipliers for several revenue and expenditure categories of the government budget, the largest of which (after the first year) are government consumption (0.6), government investment (0.5), and social security contributions paid by employers (0.4). These results corroborate the hypothesis that the government can easily boost the economy by adjusting fiscal instruments appropriately.

Název v anglickém jazyce

Fiscal devaluation in a small open economy

Popis výsledku anglicky

Fiscal devaluation, meaning a shift from payroll to indirect taxes, can be beneficial for a small open economy such as the Czech Republic. Using a structural fiscal DSGE model, I show that fiscal devaluation can boost real GDP growth by 0.5 percentage points in the first year, when a budget-neutral tax shift of the magnitude of 1% of GDP occurs from direct taxes to consumption tax. I also calculate fiscal multipliers for several revenue and expenditure categories of the government budget, the largest of which (after the first year) are government consumption (0.6), government investment (0.5), and social security contributions paid by employers (0.4). These results corroborate the hypothesis that the government can easily boost the economy by adjusting fiscal instruments appropriately.

Druh

J_ost - Ostatní články v recenzovaných periodicích

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2019

Kód důvěrnosti údajů

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

Název periodika

Russian Journal of Money and Finance

ISSN

0130-3090

e-ISSN

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Svazek periodika

78

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

RU - Ruská federace

Počet stran výsledku

22

Strana od-do

67-88

Kód UT WoS článku

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EID výsledku v databázi Scopus

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