Empirical Evaluation of the Fiscal Position in Serbia

Đurović-Todorović Jadranka () and Vuković Marija ()
Additional contact information
Đurović-Todorović Jadranka: University of Nis, Faculty of Economics, Republic of Serbia
Vuković Marija: Novi Sad Business School, Novi Sad

Economic Themes, 2016, vol. 54, issue 2, 217-232

Abstract: The paper evaluates the size of the cyclical and structural components of the fiscal deficit of the Republic of Serbia for the period from the first quarter of 2002 to the second quarter of 2014. The method of the European Central Bank was used, where it is assumed that cyclically sensitive elements of state are budget income tax, profit tax, value added tax on the value, excises, social security contributions and unemployment benefits. Elasticity of cyclically sensitive elements relative to their macroeconomic bases are estimated using the VEC model with error correction. The results suggest that automatic stabilizers generally played a more prominent role than consistent countercyclical discretionary fiscal policy, which means that the discretionary measures were late or were not well targeted.

Keywords: cyclic deficit; structural deficit; GDP (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1515/ethemes-2016-0011 (text/html)

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:vrs:ecothe:v:54:y:2016:i:2:p:217-232:n:3

DOI: 10.1515/ethemes-2016-0011

Access Statistics for this article

Economic Themes is currently edited by Marija Radosavljević

More articles in Economic Themes from Sciendo
Bibliographic data for series maintained by Peter Golla ().