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Instruments to Counteract Business Cyclicalty Under Conditions of Fiscal Policy.

100%

Mackiewicz M.

Ekonomista

2004

issue 6

783-804

The article analyses the possibilities of implementing anti-cyclical instruments when fiscal policy is being pursued by the government. The starting point is a review of theoretical thought on fiscal policy measures to stabilize the economy. The most frequently applied rules of fiscal policy: constraining budgetary deficits and the public debt, rules on expenditure growth and the cycle phase adjustments in the budgetary gap are discussed. The results obtained indicate that the optimum solution rests on the application of one of the two approaches: expenditure growth rule or the rule by which the deficit is adjusted by the business cycle phase. The selection of approach depends on the specificity of the economy that faces the problem.

Fiscal Policy's Long-term Influence on Investment Rate

63%

Krajewski P., Mackiewicz M.

Ekonomista

2007

issue 2

181-198

The study aimed at establishing the long-term influence of fiscal policy on investments in fixed assets. A cross-sectional sample of data covering 27 countries during 1960 - 2003 was used. It was found that an increase in deficit equal to 1 % of GDP decreases investments by 0.3 % of GDP, while 1 % increase in revenue of public finance sector corresponds to a decrease in investments equal to 0.2 % of GDP. The study results suggest that both, expansive fiscal policy, as well as the increase of the share of public sector in the economy, correspond, as a rule, to a reduction in long-term asset accumulation, which in turn, might negatively affect economic growth in longer perspective.

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2 Ekonomista

1 2007

1 2004

2 Mackiewicz M.

1 Krajewski P.

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Instruments to Counteract Business Cyclicalty Under Conditions of Fiscal Policy.

Fiscal Policy's Long-term Influence on Investment Rate