Implementační zpoždění diskreční fiskální politiky

Implementation Lag of Discretionary Fiscal Policy

Jakub Fischer, Hana Lipovská and Daniel Němec

Politická ekonomie, 2016, vol. 2016, issue 3, 245-263

Abstract: The aim of this paper is to quantify the implementation lag of discretionary fiscal policy in the Czech Republic between 1997 and 2013. Based on a unique dataset created for this study, the length and structure of implementation lag is analysed. Dataset is extending the original dataset used by the Czech National Bank. This study further analyses factors with an impact on implementation lag. Implementation lag is the length of period between decision of the economic policy makers on the actual response to the fundamental change in the economy and implementation of this response to the legislation. Average implementation lag of discretionary fiscal policy in the Czech Republic is 2.4 quarters. The greatest deal counts for the implementation lag in the Chamber of Deputies. Length of implementation lag of discretionary fiscal policy is influenced especially by the total occupancy of the Chamber of Deputies, majority, which the government parties have in the Parliament, and the frequency of the veto power usage.

Keywords: implementation lag; discretionary fiscal policy; Czech Republic (search for similar items in EconPapers)
JEL-codes: H30 H70 K40 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.18267/j.polek.1069

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