The Effects of Fiscal Policy on Business Cycle: Evidence from SVAR Model with Debt Constraints

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F15%3A00084132" target="_blank" >RIV/00216224:14560/15:00084132 - isvavai.cz</a>

Výsledek na webu

<a href="https://ece.pefka.mendelu.cz/sites/default/files/ece_2015_final.pdf" target="_blank" >https://ece.pefka.mendelu.cz/sites/default/files/ece_2015_final.pdf</a>

DOI - Digital Object Identifier

—

Jazyk výsledku

angličtina

Název v původním jazyce

The Effects of Fiscal Policy on Business Cycle: Evidence from SVAR Model with Debt Constraints

Popis výsledku v původním jazyce

This paper is focused on macroeconomic effects of fiscal and monetary policy in the Czech economy. We are using a Structural Vector Autoregression model (SVAR) for small open economy. The model includes six variables, specifically: government spending, government revenues, inflation, GDP, exchange and interest rates. Furthermore, the model is enriched with debt constraints over time. We investigate the dynamic responses of output, inflation and the interest rate to changes in government spending and revenues and analyze the contribution of shocks to business cycle in the Czech economy for the period 1999:Q1 ? 2014:Q1. The results for the Czech economy are similar to the results for other small open economies described in current literature. Fiscal policy during the estimated period is analyzed through historical shock decomposition. Our findings are that GDP decreases in reaction to fiscal shock and monetary variables show negligible reaction to the same shock.

Název v anglickém jazyce

The Effects of Fiscal Policy on Business Cycle: Evidence from SVAR Model with Debt Constraints

Popis výsledku anglicky

This paper is focused on macroeconomic effects of fiscal and monetary policy in the Czech economy. We are using a Structural Vector Autoregression model (SVAR) for small open economy. The model includes six variables, specifically: government spending, government revenues, inflation, GDP, exchange and interest rates. Furthermore, the model is enriched with debt constraints over time. We investigate the dynamic responses of output, inflation and the interest rate to changes in government spending and revenues and analyze the contribution of shocks to business cycle in the Czech economy for the period 1999:Q1 ? 2014:Q1. The results for the Czech economy are similar to the results for other small open economies described in current literature. Fiscal policy during the estimated period is analyzed through historical shock decomposition. Our findings are that GDP decreases in reaction to fiscal shock and monetary variables show negligible reaction to the same shock.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

—

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2015

Kód důvěrnosti údajů

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

Název statě ve sborníku

Proceedings of 18th International Conference Enterprise and Competitive Environment

ISBN

9788075093424

ISSN

—

e-ISSN

—

Počet stran výsledku

9

Strana od-do

27-35

Název nakladatele

Mendel University

Místo vydání

Brno

Místo konání akce

Brno

Datum konání akce

1. 1. 2015

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

—