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IMPACT OF FISCAL RULES ON GOVERNMENT EXPENDITURE AND TAX REVENUE IN EMERGING EUROPEAN COUNTRIES: THRESHOLD EFFECT OF BUDGET DEFICIT

100%
Kȍktaş A. M., Günel T.
Ekonomický časopis (Journal of Economics)
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2022
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vol. 70
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issue 3
264 – 283
EN
This study aims to investigate the effectiveness of fiscal rules in terms of government expenditure and tax revenues with and without the threshold effect of the budget deficit over the period 1995 – 2019 in 91 emerging European countries, as the frequency and severity of the implementation of fiscal rules vary according to the level of the budget deficit. To achieve this objective, the study firstly examines this relationship using the fixed and random effect methods without considering the threshold effect of budget deficit. Secondly, the study employs the panel threshold method proposed by Hansen (1999) to examine this relationship with the threshold effect of budget deficit, which is different from previous studies. Based on the panel threshold estimation, the results reveal that there are two threshold levels of budget deficit on government expenditure and a single threshold level of budget deficit on government tax revenue. Depending on these thresholds, the effect of fiscal rules on government expenditure and tax revenue varies significantly. This suggests that fiscal rules are more effective in ensuring fiscal discipline when the budget deficit is high and less effective when the budget deficit is low.
2

BRATISLAVA NA PRAHU – BRATISLAVA PRAHOV (MESTO V EPOCHE NORMALIZÁCIE: ŽIVOTY UNIKAJÚCE DUŠANA KRAUSA)

100%
Barborík V.
Slovenská literatúra (Slovak Literature)
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2021
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vol. 68
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issue 3
288 – 303
EN
The article takes a look at the representations of Bratislava in Dušan Kraus’s debut novel Životy unikajúce [Lives Leaking; 1979]. It reconstructs the methods that model the city and its image in the context of other portrayals of the urban setting in Slovak prose (Ladislav Ballek: Pomocník [The helper]; Agáty [The locust trees]; Stanislav Rakús: Temporálne poznámky [Temporal notes]). The novel does not name the city in which it takes place, but from the names of locations and the typical spatial arrangements it pertains that the text is set in Bratislava. The differentiation of the spatial structure is complementary with the division of space into the private and public spheres. Social life functions (work and amusement) are situated in the centre while private lives unwind in the new housing estates at the outskirts of the city. Kraus portrayed Bratislava of the normalisation era in line with its period character, i.e. as urbs, but not as civitas (Olivier Mongin: The Urban Condition) – as a city without a public space. The novel works with two semantic layers. The narrative is of factual or even official record character, the symbolic generalisation rests on the double meaning of the title that evokes both a gas leak and the movement of its victims from life to death as well as the city as a fluid, unstable entity where life “leaks” from its inhabitants.
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