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Found 14 search results for: fiscal policy
Maciej Wysocki, Cezary Wójcik (2021/6, Articles,
In 2016–2019 Poland experienced a major social and fiscal policy shift: new government decreased the statutory retirement age and launched several new social programs, including the sweeping Family 500+ program under which social expenditure on family and children support increased suddenly from 1.5% to nearly 3% of GDP. Moreover, VAT gap reduction policies have been implemented swiftly (...)
Jerzy Osiatyński (2021/3, Articles,
Limitations Of The Old Paradigms Of The Macroeconomic Policy. How To Replace Or Correct Them?
The article deals with the limitations of the old paradigms of fiscal and macroeconomic policy and the way of replacing or correcting them. The first part discusses the limitations of fiscal and macroeconomic policy in general in the context of the contemporary mainstream economics. The second part includes an analysis of the interdependence of the criteria of fiscal policy and the (...)
Agnieszka Domańska (2020/3, Articles,
The article aims to analyse on a comparative basis the effects of public investment spending on the economies of Poland and Portugal in the period 1996–2017. In the economic theory, there are divergent opinions as to the impact of expansionary fiscal policy on economic growth. The direct and indirect impact of the increasing government spending on the economy is one of the key questions in (...)
Marta Postuła, Jacek Tomkiewicz (2019/5, Articles,
Fiscal Adjustment and Public Finance Management in the Euro Area
This article focuses on the effects of corrections to the budgetary policy in eurozone economies. The goal is to check whether advancement in implementing modern tools of public management is helpful in the time of fiscal adjustment. The authors assume that the most important role of a performance approach in conducting fiscal policy is the ability of government to implement an active (...)
Piotr Krajewski, Agata Szymańska (2018/4, Articles,
The Significance of Military Spending in Evaluating fiscal policy Effects
The aim of this article is to analyze the impact of military spending shocks on GDP in the Czech Republic, Poland and Hungary. This study is based on SVAR model with identification scheme of O. Blanchard and R. Perotti. Our model includes three variables: real GDP, net taxes and military spending, which is more exogenous than other government spending. The results show that military (...)
Piotr Ptak (2016/4, Miscellanea,
Fiscal Conditions for Growing out of Debt in Europe
Sovereign debt crisis in the euro zone put in the spotlight the issue of restoring the balance in the public finances of indebted countries as to resorte their capacity to borrow again on financial markets. Restoring fiscal balance will be a difficult task due to poor economic outlook in most EU countries, particularly in the euro area. The attempts to accelerate economic growth by means of (...)
Jerzy Osiatyński (2014/2, Articles,
Is Meeting the Convergence Criteria from Maastricht Always Beneficial for the Economy?
Until the world financial crisis of 2007–2008, the convergence criteria contained in the Maastricht Treaty have been commonly considered beneficial for countries that persistently observed them, although there is no economic theory from which those criteria and their specific numerical values could be derived from. Also in Poland an overwhelming majority of economists, policy makers and (...)
Eugeniusz Najlepszy (2013/5, Articles,
Escalation of the External Disequilibrium of Indebted Countries under Global Capital Mobility
The paper includes an analysis of some factors conducing to the rise in the external disequilibrium of domestic economy, such as: debt crisis, fluctuation in capital flows, and the decreasing predictability of international solvency. None of these factors considered separately can explain well the causes of the rising external indebtness. Only an integrated analysis of all those (...)
Michał Jurek (2013/2, Articles,
The article aims to analyze what macroeconomic circumstances support the maintenance of stable exchange rate of CEE countries currencies against the euro. In order to achieve this target, the author presents the evolution of the exchange rate regimes in CEE countries in the period of 1999-2011, as well as the results of logit analysis used in order to reveal what macroeconomic features (...)
Kazimierz Łaski, Jerzy Osiatyński (2013/1, Articles,
Consolidation of Public Finance and the Euro Crisis
The authors see the roots of the present euro-zone crisis in three pillars of market fundamentalism on which the construction of the European Economic and Monetary Union is founded: 1) separation of a common monetary policy from national fiscal policies of individual member countries; 2) the goal of government budget equilibrium which is believed to provide macroeconomic stability of each (...)
Łukasz Goczek (2012/6, Articles,
Instability of fiscal policy, financial development, and economic growth
The article presents a review of research on the influence of fiscal policy instability on economic growth in the long run. Based on the findings from theoretical research an empirical model is estimated aimed to assess the impact of the fiscal policy instability on economic growth on the basis of a quantitative analysis. First, in order to estimate the measures of the volatility of fiscal (...)
Jerzy Osiatyński (2011/5, Articles,
Preconditions of Poland’s Entry to the Euro Area
A ssuming that the European Economic and Monetary Union survives its current financial crisis, the author tries to answer the question what conditions Poland should meet prior to entering the eurozone that would enable it to maintain and strengthen its competitive position after the entry to the euro area. The ability of any free trade zone member country to sustain its competitive position (...)
Michał Jurek (2010/3, Articles,
Limitation of the Autonomy of Monetary Policy in Financial Integration
The aim of the paper is to analyze the possibilities of overcoming the asymmetric shocks under fully fixed and fully floating exchange rate regimes, taking into consideration increasing financial integration which results in mounting capital flows. The analysis is based on the use of the Mundell-Fleming model within the framework of the theory of Optimum Currency Areas. The main conclusion (...)
Andrzej Sławiński (2008/1, Articles,
The Importance of Risk Factors Related to Poland’s Joining the ERM2 and the Euro Zone
Two issues related to Poland’s entry into ER M2 are analyzed in the first part of the article: 1) the factors behind zloty moderation after Poland joined the EU, and 2) how the Central Bank of Poland should conduct its monetary policy to stabilize the zloty within the ER M2 band. In the second part the main risks related to Poland’s entry into euro zone are analyzed. The main risk is seen (...)
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