The optimal fiscal rule in the context of accession to the Eurozone

Piotr Krajewski, Michał Mackiewicz and Katarzyna Piłat

Economic Research-Ekonomska Istraživanja, 2015, vol. 28, issue 1, 398-406

Abstract: The aim of the paper is to compare the macroeconomic effects of fiscal rules that can be applied in the context of the future full participation of Poland in the Economic and Monetary Union. The results of our analyses show that we observe the smallest changes in the structural balance when fiscal policy is aimed at both GDP stabilisation and business cycles synchronisation. Unfortunately, when we analyse the characteristics of the fiscal rule we discover that the possibility of effective practical application of such a rule is very limited. The reason for this may be the lack of transparency and delays we face in publishing macroeconomic data, which is indispensable for fiscal rule application.

Date: 2015
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DOI: 10.1080/1331677X.2015.1041779

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