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Reguły fiskalne wzrostu wydatków - ujęcie nominalne czy realne?

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  • Mackiewicz, Michał

Abstract

The aim of this study is to analyse chances for pursuing short-term anticyclical policy under conditions of fiscal policy rules applied to expenditure growth. Two versions of expenditure rules are analysed, differing from each other in terms of assumptions concerning the growth rate of prices. The consequences of applying both versions to short-term stabilisation of the economy are examined on a basis of a simple AS-AD model. The analysis indicates that under conditions of demand shocks the nominal approach to the rise in expenditure has a stronger stabilising effect on both the product and price levels. Under conditions of supply shocks the real-terms approach to the rise in expenditure proves more effective for stabilisation of the production level. This, however, takes place at the expense of more intensive price fluctuations.

Suggested Citation

  • Mackiewicz, Michał, . "Reguły fiskalne wzrostu wydatków - ujęcie nominalne czy realne?," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2003(10).
    • Handle: RePEc:ags:polgne:355282
    DOI: 10.22004/ag.econ.355282
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    References listed on IDEAS

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    1. Buiter, Willem & Grafe, Clemens, 2002. "Patching Up The Pact: Some Suggestions For Enhancing Fiscal Sustainability and Macroeconomic Stability In An Enlarged European Union," CEPR Discussion Papers 3496, Centre for Economic Policy Research.
    2. Tamim Bayoumi & Barry Eichengreen, 1995. "Restraining Yourself: The Implications of Fiscal Rules for Economic Stabilization," IMF Staff Papers, Palgrave Macmillan, vol. 42(1), pages 32-48, March.
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