Estimation of the Fiscal Stance in the Czech Republic during Transformation: Full Employment Budget Analysis

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Estimation of the Fiscal Stance in the Czech Republic during Transformation: Full Employment Budget Analysis

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V. Bárta

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Vit Barta

Abstract

The purpose of this study is to provide a macroeconomic analysis of fiscal policy in the Czech Republic during the transformation period 1989-1995. In contrast to those studies which are based on "decline accounting", disentangling different factors from each other and ascribing to them specific roles in the overall decline, this study focuses exclusively on fiscal policy and tries to identify its impact on the economy. The crucial methodological feature of the analysis consists in a proper recognition of exogenous economic developments which enter the fiscal area "from outside", as distinct from those endogenous factors which are the result of the typically discretionary decisions of policy-makers.

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Paper provided by Centre for Economic Reform and Transformation, Heriot Watt University in its series CERT Discussion Papers with number 9612.

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Date of creation: 1996
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Handle: RePEc:hwe:certdp:9612

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Christopher Heady & Najma Rajah & Stephen Smith, 1994. "Tax reform and economic transition in the Czech Republic," Fiscal Studies, Institute for Fiscal Studies, vol. 15(1), pages 64-80, February.
Roger H. Gordon, 1994. "Fiscal Policy during the Transition in Eastern Europe," NBER Chapters, in: Transition in Eastern Europe, Volume 2, The, pages 37-70 National Bureau of Economic Research, Inc. [Downloadable!]
Other versions:
- Roger Gordon, 1992. "Fiscal Policy during the Transition in Eastern Europe," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich.
Darrel Cohen, 1987. "Models and measures of fiscal policy," Working Paper Series / Economic Activity Section 70, Board of Governors of the Federal Reserve System (U.S.).
Michael Bruno, 1994. "Stabilization and Reform in Eastern Europe: A Preliminary Evaluation," NBER Chapters, in: The Transition in Eastern Europe, Volume 1, pages 19-50 National Bureau of Economic Research, Inc. [Downloadable!]
Darrel Cohen, 1991. "A critical analysis of the Eisner-Pieper fiscal measure," Working Paper Series / Economic Activity Section 117, Board of Governors of the Federal Reserve System (U.S.).

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