Macroeconomic Shocks and the Fiscal Stance within the EU: A Panel Regression Analysis

Kód výsledku v 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>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Macroeconomic Shocks and the Fiscal Stance within the EU: A Panel Regression Analysis

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Macroeconomic Shocks and the Fiscal Stance within the EU: A Panel Regression Analysis

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

<a href="/cs/project/GAP402%2F10%2F1046" target="_blank" >GAP402/10/1046: Fiskální politika a česká ekonomika: Makroekonomické studie</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2012

Kód důvěrnosti údajů

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

Název statě ve sborníku

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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Počet stran výsledku

10

Strana od-do

80-89

Název nakladatele

Silesian University, School of Business Administration

Místo vydání

Karviná

Místo konání akce

Ostrava

Datum konání akce

12. 10. 2011

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

000309369700008