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Fiscal multipliers in Slovak economy DSGE simulation

Author

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  • Juraj Zeman

    (National Bank of Slovakia, Research Department)

Abstract

In order to calculate fiscal multipliers for Slovakia, I used a small open DSGE model of Slovakia constructed by Zeman and Senaj (2009), augmented by more sophisticated fiscal sector that comprises of government expenditure components – consumption, investment and social transfers to liquidity constrained households as well as government revenue components – personal income tax, employer social contributions, VAT tax and lump-sum tax. The Slovak government has laid out a plan of public finance consolidation for the period from 2013 to 2017 in order to meet the Fiscal Compact criteria. According to fiscal multipliers calculated in this paper the consolidation will cause an aggregate loss of 2.5 % of GDP during this period.

Suggested Citation

  • Juraj Zeman, 2016. "Fiscal multipliers in Slovak economy DSGE simulation," Working and Discussion Papers WP 2/2016, Research Department, National Bank of Slovakia.
    • Handle: RePEc:svk:wpaper:1038
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    Cited by:

    1. Michal Bencik, 2017. "Do Fiscal Multipliers Vary with Different Character of Monetary-Fiscal Interactions?," Working and Discussion Papers WP 11/2017, Research Department, National Bank of Slovakia.

    More about this item

    Keywords

    Fiscal multipliers; expenditure and revenue components; DSGE simulations;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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