Cyclical sensitivity of public finances in former Yugoslavian countries (2001–2014)

Marko Crnogorac and Santiago Lago Peñas
Authors registered in the RePEc Author Service: Santiago Lago-Peñas

No 1701, Working Papers. Collection A: Public economics, governance and decentralization from Universidade de Vigo, GEN - Governance and Economics research Network

Abstract: The aim of this paper is to analyse fiscal policy in former Yugoslavian countries over the period 2001–2014. The contribution of the paper is threefold. First, we build a homogenous database to describe the evolution of main fiscal aggregates in each country, using the same analytical structure. Second, we analyse national tax structures to find if common patterns are still present, or if they have evolved in different ways over time. Third, we pool data to analyse and compute the cyclical sensitivity of budget balance, taxes and expenditure to the output gap. Our results show that tax structures are still similar and that economic cycle is very relevant to explain the dynamics of deficit and expenditure, but not revenues.

Keywords: Fiscal policy; Government deficit; Business cycle; Yugoslavia. (search for similar items in EconPapers)
JEL-codes: H30 H50 H62 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2017-04
New Economics Papers: this item is included in nep-mac and nep-tra
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http://infogen.webs.uvigo.es/WP/WP1701.pdf First version, 2017 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:gov:wpaper:1701

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