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Crowding Out and Crowding in within Keynesian Framework. Do We Need Any New Empirical Research Concerning Them?

Author

Listed:
  • Adam P. Balcerzak

    () (Nicolaus Copernicus University, Poland)

  • Elzbieta Rogalska

    () (University of Warmia and Mazury, Poland)

Abstract

Last global financial crisis resulted in common among developed countries implementation of expansionary fiscal policy as an anti-recession tool. This led to the renewal of academic discussion on stabilization effectiveness of fiscal policy. In this context, the main research goal of this paper is to give theoretical analysis of the determinants of counter-cyclical effectiveness of fiscal policy with special concentration on crowding out and crowding in effects. Methodologically the analysis is done within Keynesian IS-LM framework within the assumption of expectations of economic actors. The theoretical analysis is confronted with the review of empirical papers based on the experiences of developed countries.

Suggested Citation

  • Adam P. Balcerzak & Elzbieta Rogalska, 2014. "Crowding Out and Crowding in within Keynesian Framework. Do We Need Any New Empirical Research Concerning Them?," Working Papers 2/2014, Institute of Economic Research, revised May 2014.
  • Handle: RePEc:pes:wpaper:2014:no2
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    File Function: First version, 2014
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    Citations

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    Cited by:

    1. Michal Moszynski, 2015. "Ordoliberalism And The Macroeconomic Policy In The Face Of The Euro Crisis," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 10(4), pages 41-58, December.
    2. Adam P. Balcerzak & Elzbieta Rogalska, 2016. "Non-Keynesian Effects of Fiscal Consolidations in Central Europe in the Years 2000-2013," Chapters,in: Mehmet Huseyin Bilgin & Hakan Danis (ed.), Entrepreneurship, Business and Economics - Vol. 2. Proceedings of the 15th Eurasia Business and Economics Society, edition 1, volume 2, chapter 18, pages 271-282 Institute of Economic Research.

    More about this item

    Keywords

    fiscal policy; crowding out; crowding in; stabilization policy;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm

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