Možnosti hodnocení fiskální pozice a stabilizační fiskální politika

Possible Evaluation of Fiscal Position and Stabilization Fiscal Policy

Zdeněk Pikhart

Politická ekonomie, 2013, vol. 2013, issue 6, 795-813

Abstract: Paper deals with the assessment of the fiscal position and stabilization of government policy. First, the framework for assessment of the fiscal position and the sustainability of public finances is presented. It is justified the usage of specific data based on the ESA95 methodology, including consideration of possible alternatives. Subsequently, the government deficit is set into the framework of macroeconomic identities and expressed its impact on the current account balance and other aggregates. Sustainability of the government deficit is firstly derived from the primary balance and consequently from the overall balance. Even before it is discussed appropriate fiscal policy in the short and long term, including the role of fiscal rules, OECD methodology is presented for the calculation of structural and cyclical balance, including risks associated with their quantification.

Keywords: business cycle; public finance sustainability; structural balance; crowding-out effect (search for similar items in EconPapers)
JEL-codes: E01 H60 H62 (search for similar items in EconPapers)
Date: 2013
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DOI: 10.18267/j.polek.931

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