Impact of a Modified HP Filter on Countercyclical Behavior of the Swiss Fiscal Rule

• Autorzy: Adam Pigoń , Michał Ramsza
• Języki publikacji: EN

Abstrakty

EN

Fiscal rules are an idea that has been getting more attention lately due to the recent economic crisis. Fiscal rules has been tested for many properties, including countercyclical behavior. The present paper focuses on the Swiss fiscal rule and investigates the impact of a modified HP filter, used in the rule, on countercyclical behavior of the rule. The paper uses real GDP time series for over a hundred countries and applies the rule to each time series in two variants, with a standard HP filter and a modified HP filter. For each result procyclicality indices are calculated. It is found that the modification of HP filter, used in the Swiss fiscal rule, increases countercyclical behavior of the rule. (original abstract)

Słowa kluczowe

EN

Fiscal policy; Tax system; Research results

PL

Polityka fiskalna; System podatkowy; Wyniki badań

• Czasopismo: Equilibrium
• Rocznik: 2016
• Tom: 11
• Numer: nr 4
• Strony: 661--674

Twórcy

autor

Adam Pigoń

• Swiss Institute for Empirical Economic Research, Switzerland

autor

Michał Ramsza

• Warsaw School of Economics, Poland

Bibliografia

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Identyfikatory

DOI

10.12775/EQUIL.2016.029