Advanced Search
MyIDEAS: Login

Ciklicki prilagodeni proracunski saldo: primjer Hrvatske

Contents:

Author Info

  • Sandra Svaljek

    ()
    (The Institute of Economics, Zagreb)

  • Maruska Vizek

    ()
    (The Institute of Economics, Zagreb)

  • Andrea Mervar

    ()
    (The Institute of Economics, Zagreb)

Abstract

Cyclically adjusted government budget balance has often been used in the evaluation of fiscal stance. It indicates how much room fiscal authorities have to act anticyclically. The main idea is to separate temporary (cyclical) effects on the budget from those caused by discretionary measures of fiscal authorities. In this paper, after reviewing the concept, its applications and various methodological approaches, the size of cyclically adjusted budget balance is estimated in the case of Croatia for the period 1995:1q-2008:3q. Thereby, the ECB methodology is implemented and it is assumed that cyclically sensitive budget elements include income tax, profit tax, VAT, excise duties, social security contributions and unemployment benefits. The elasticities of cyclically sensitive budget components, with respect to their macroeconomic bases, are calculated with an error-correction model. The results of the exercise indicate that both periods of pro- and anticyclical fiscal policies have been present in the analyzed period with the restrictive and procyclical policy prevailing in the recent years.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.eizg.hr/Download.ashx?FileID=9ddfda49-40fa-453b-bd4e-ee23b8bfd4af
Download Restriction: no

Bibliographic Info

Paper provided by The Institute of Economics, Zagreb in its series Working Papers with number 0901.

as in new window
Length: 52 pages
Date of creation: Jun 2009
Date of revision:
Handle: RePEc:iez:wpaper:0901

Contact details of provider:
Postal: Trg J.F.Kennedy 7, HR - 10000 Zagreb
Phone: (**385 1) 23 35 700
Fax: (**385 1) 23 35 165
Web page: http://www.eizg.hr
More information through EDIRC

Related research

Keywords: fiscal policy; government budget; cyclical adjustment; Croatia;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:iez:wpaper:0901. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Doris Banicevic).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.