Warianty tytułu
The Expansive Effects of Restrictive Fiscal Policy : Analysis of Polish Economy in the 2000-2008 Period Based on the Lane-Perotti's Model
Języki publikacji
Abstrakty
Przedstawiono teoretyczne aspekty związane z keynesowskimi i nie-keynesowskimi skutkami zacieśnienia fiskalnego oraz modelem Lane'a-Perottiego. Opisano wyniki badań empirycznych dotyczących występowania zależności opisywanych przez model w gospodarce polskiej.
The economic crisis of last months and the tendency to use fiscal policy in order to stimulate the economy brings out a question concerning the measures that can be used in order to restore fiscal stance of the state after it. In this article I would like to focus on the analysis of the Lane-Perotti's model which indicates a possibility of undertaking such a policy that will lead to fiscal tightening without taking its negative toll on the economy and may even boost its competitiveness. The first and second part are devoted to the theoretical analysis of Keynesian and non-Keynesian effects of fiscal tightening. The results of empirical research are described and discussed in the third part. The statistical, as well as econometrical analysis proves the existence of negative relationship between the value added in manufacturing and wage government expenses and positive relationship between the former and government consumption expenses, which are consistent with Lane's and Perotti's results. On the other hand, contrary to them we have observed positive relationship between labor tax incomes and manufacturing value added which may be subscribed to the fact that there were no major tax decrease in Poland recently. The results of conducted analysis lead to a conclusion that fiscal stance can and should be restored through the fiscal tightening that is based on decrease in expenses rather than the increase of taxes. (original abstract)
Twórcy
autor
- Uniwersytet Łódzki
Bibliografia
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- Lane P.R., Perotti R., The Importance of Composition of Fiscal Policy: Evidence from Different Exchange Rate Regimes, "CEG Working Papers", Trinity College Dublin, Department of Economics, no. 2001/11, Dublin 2001.
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- Rzońca A., Czy Keynes się pomylił? Skutki redukcji deficytu w Europie Środkowej, Wydawnictwo Naukowe SCHOLAR, Warszawa 2007.
- Rzońca A., Ciżkowicz P., Non-keynesian Effects of Fiscal Contraction in New Member States, "Working Paper Series", European Central Bank, , no. 519, Frankfurt am Main 2005.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
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