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National Accounts Data and Macroeconomic Analysis: A Comparative Study of the Czech Republic, Germany, Greece, Ireland and Slovenia

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  • Maks Tajnikar
  • Nina Ponikvar
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    Abstract

    In this paper there are analysed the characteristics of various important macroeconomic variables in the Slovenian economy and compared with the macroeconomic development in the Czech Republic, Germany, Greece and Ireland in two periods of 1997-1999 and 2000-2002. The main objectives of the paper are to observe changes in the macroeconomic variables of the analysed countries during the observed periods, to determine the sources of any differences in macroeconomic characteristics between Slovenia and the other analysed countries and, finally, to suggest some steps and measures to improve the macroeconomic situation of these countries. Data from national accounts are used in the analysis. In terms of methodology, the paper is based on post-Keynesian economic theory and its long-term economic model of a market economy with private ownership. Based on the analysis it was concluded that in all analysed countries there should be a greater emphasis on tax policy to create an incentive for investing and saving, on incomes policy to control the dynamics of nominal wages, and on technological policy as a prerequisite for improved economic efficiency.

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    Bibliographic Info

    Article provided by University of Economics, Prague in its journal Prague Economic Papers.

    Volume (Year): 2006 (2006)
    Issue (Month): 2 ()
    Pages: 135-155

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    Handle: RePEc:prg:jnlpep:v:2006:y:2006:i:2:id:281:p:135-155

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    Related research

    Keywords: Slovenia; post-Keynesian economic theory; national accounts; long-run macroeconomic model; Ireland; Greece; Germany; Czech Republic;

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    References

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    1. H. Sonmez Atesoglu, 1996. "A Demand-Oriented Explanation of Economic Growth in Germany," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 19(1), pages 101-111, October.
    2. Garegnani, P, 1970. "Heterogeneous Capital, the Production Function and the Theory of Distribution," Review of Economic Studies, Wiley Blackwell, vol. 37(3), pages 407-36, July.
    3. Seguino, Stephanie, 1999. "The Investment Function Revisited: Disciplining Capital in Korea," MPRA Paper 6539, University Library of Munich, Germany.
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