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1

The Influence of Business Cycle Phase on Budgetary Revenues from Personal Income Tax

100%
Krajewski P.
Ekonomista
|
2005
|
issue 1
49-76
EN
The article takes up the issue of sensitivity of public revenue originating from personal income tax (PIT) proceeds to fluctuations in macroeconomic prosperity. Short term elasticities in separate components of PIT were arrived at via the study of output fluctuations' impact on the tax assessment base. The results of the analysis suggest that short term elasticity of budgetary revenue from PIT is higher than one (during 1995-2003 it amounted, on the average, to 1.23). This implies that changes in PIT inflows are relatively greater than fluctuations in GDP. Higher short term elasticity in PIT revenues in relation to GDP also signifies that during expansion phase public finances should enjoy a marked increase in revenues derived from PIT collection.
2

THE EFFECTIVENESS OF AUTOMATIC STABILIZERS IN POLAND

100%
Krajewski P.
Studia Ekonomiczne (Economic Studies)
|
2005
|
issue 4(47)
321-340
EN
The aim of the article is the estimation of the automatic stabilizers effectiveness in Poland. Calculations were based on quarterly data from the years 1995-2002 whereas the estimations of the automatic stabilizers effectiveness - on GDP elasticities of public revenues and expenditures and their impact on aggregate demand. It is estimated that automatic stabilizers in Poland smooth about 18% of GDP fluctuation. It is also shown that effectiveness of automatic stabilizers differs for different kinds of public revenues and expenditures. It can be enhanced by increasing corporate income tax and unemployment benefits, because both corporate income tax revenues and unemployment benefits are very sensitive to economic activity fluctuations.
3

Fiscal Policy's Long-term Influence on Investment Rate

63%
Krajewski P., Mackiewicz M.
Ekonomista
|
2007
|
issue 2
181-198
EN
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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