EconPapers    
Economics at your fingertips  
 

Fiskální multiplikátor v malé otevřené ekonomice v režimu pevného měnového kursu

Fiscal multiplier in the small open economy under fixed exchange rates

Karel Brůna ()

Politická ekonomie, 1999, vol. 1999, issue 4

Abstract: This paper discusses theoretical aspects of the fiscal policy in the special economic system of the small open economy under fixed exchange rates. The author lays stress on the size of the fiscal multiplier as an analytical expression of the structure of this economy.The first part describes fiscal multiplier in the close economy, the second defines with more precision the open-economy fiscal multiplier and précis the final effects of national savings and their functions in the economy with context of the external balance and problems of the interest rates level, interest rates structure and demand for money in the context of high capital mobility on domestic output.The results of the study suggest that size of the open-economy fiscal multiplier depends on fiscal policy effects upon current account solvency and sustainability. In monetary economy the fiscal policy is also complicated by demand for and supply of money functions elasticities.

Keywords: fiscal multiplier; output; savings; external balance; interest rates level; interest rates structure; demand for money (search for similar items in EconPapers)
Date: 1999
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://polek.vse.cz/doi/10.18267/j.polek.55.html (text/html)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prg:jnlpol:v:1999:y:1999:i:4:id:55

Ordering information: This journal article can be ordered from
Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3
http://polek.vse.cz

DOI: 10.18267/j.polek.55

Access Statistics for this article

Politická ekonomie is currently edited by Jiřina Bulisová

More articles in Politická ekonomie from University of Economics, Prague Contact information at EDIRC.
Bibliographic data for series maintained by Stanislav Vojir ().

 
Page updated 2020-08-18
Handle: RePEc:prg:jnlpol:v:1999:y:1999:i:4:id:55