PL EN


2011 | 247 | 4 | 23-43
Article title

Efekty podażowe szoków fiskalnych w gospodarce polskiej na podstawie modelu realnego cyklu koniunkturalnego

Authors
Content
Title variants
EN
Supply-Side Effects of Fiscal Shocks in the Polish Economy Based on the Real Business Cycle Model
Languages of publication
PL
Abstracts
EN
The articleexaminesthe supply-side impact offiscalpolicyonfluctuations in economic trendsin Poland. The analysisis basedon the real business cyclemodel with indivisiblelabor developed by American economist Gary D.Hansen. This model was adapted tothe conditions ofthe Polish economy andexpanded to includeassumptionsaboutfiscalpolicy on the basis of datafrom the1995-2009period. According to the author, the model reflectsthe correlationsbetween GDPandothervariables. However, the negativecorrelationbetweengovernment spendingandconsumption resulting from the model is not confirmed by actual data, Krajewski says. Simulations showthatan increasedshareof capital expenditure in government spending has apositiveimpact onthe economy because it leads to anincrease inproduction,consumption, employment and the level of capital. Themodelalsoshowsthat even though a countercyclicalfiscal policy reducesfluctuationsin production,itleads togreatervolatilityof capitaland consumption. Moreover,the resultsof the model show that if public consumption becomes a strong substituteof private consumption, an increase in government expenditure has a low supply-side impact on thelevel of production, the author concludes.
Year
Volume
247
Issue
4
Pages
23-43
Physical description
Dates
published
2011-04-30
Contributors
References
Document Type
Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.doi-10_33119_GN_101076
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