Search results for "fiscal policies"

showing 4 items of 4 documents

Discretionary fiscal policy over the cycle: new evidence based on the ESCB Disaggregated Approach

2009

This paper explores how discretionary fiscal policies on the revenue side of the government budget have reacted to economic fluctuations in European Union countries. For this purpose, it uses data on legislated revenue changes and structural indicators provided twice per year by National Central Banks of European Union countries in the ESCB framework for analysing fiscal policy. The analysis is based on the estimation of fiscal policy rules linking these measures of legislated fiscal policy changes to the output gap and other control variables. Then, baseline results are compared with regression estimates where variations of cyclically-adjusted indicators are used as proxy for discretionary…

Discretionary fiscal policies government revenues cyclical sensitivity legislation changes narrative approach ESCB disaggregated framework.Settore SECS-P/02 Politica Economica
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Effects of Fiscal Stimulus in Structural Models

2010

The paper assesses, using seven structural models used heavily by policymaking institutions, the effectiveness of temporary fiscal stimulus. Models can, more easily than empirical studies, account for differences between fiscal instruments, for differences between structural characteristics of the economy, and for monetary-fiscal policy interactions. Findings are: (i) There is substantial agreement across models on the sizes of fiscal multipliers. (ii) The sizes of spending and targeted transfers multipliers are large. (iii) Fiscal policy is most effective if it has some persistence and if monetary policy accommodates it. (iv) The perception of permanent fiscal stimulus leads to significant…

InflationWestern hemisphereStimulus (economics)media_common.quotation_subjectjel:E62Monetary policyMonetary economicsjel:E52jel:E12Fiscal policyjel:E13Economics Econometrics and Finance (all)2001 Economics Econometrics and Finance (miscellaneous)Empirical researchGeneral [Fiscal stimulus;Fiscal policy;Fiscal Multipliers Government Deficits inflation real interest rate aggregate demand Open Economy Macroeconomics International Policy Coordination and Transmission Fiscal Policies and Behavior of Economic Agents]PerceptionDynamic stochastic general equilibriumEconomicsGeneral Earth and Planetary SciencesReal interest rateGeneral Economics Econometrics and FinanceAggregate demandGeneral Environmental Sciencemedia_common
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The effects of fiscal policies on the economic growth in Romania

2017

This paper intends to examine the results of fiscal policy implementation in Romania, their impact on economic growth and how fiscal policies have influenced the growth of budgetary deficits. Our objective is to highlight and explore efficient fiscal consolidation strategies that can ensure a stable economic growth through sustainable public finances. The methodology consists in analysing the information provided by national and international financial institutions, comparing it to past, proposed and assumed values, and examining the efforts and results. The conclusion we reached was that, in order to restore the sustainability of public finances, the need arises for considerable fiscal con…

budgetary deficitlcsh:HB1-3840fiscal policieslcsh:HB71-74lcsh:Economic theory. Demographylcsh:Economics as a scienceeconomic growthBulletin of the Transilvania University of Brasov. Series V : Economic Sciences
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Discretionary Fiscal Policies over the Cycle: New Evidence Based on the ESCB Disaggregated Approach

2012

This paper explores how discretionary fiscal policies on the revenue side of the government budget have reacted to economic fluctuations in European Union countries. For this purpose, it uses data on legislated revenue changes and structural indicators provided twice per year by National Central Banks of European Union countries in the ESCB framework for analysing fiscal policy. The analysis is based on the estimation of fiscal policy rules linking these measures of legislated fiscal policy changes to the output gap and other control variables. Then, baseline results are compared with regression estimates where variations of cyclically-adjusted indicators are used as proxy for discretionary…

cyclical sensitivity Discretionary fiscal policies ESCB disaggregated framework government revenues legislation changes narrative approachDiscretionary fiscal policiesjel:E62Settore SECS-P/02 Politica Economicajel:E65jel:H20International Journal of Central Banking
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