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Found 12 search results for: public debt

Jerzy Osiatyński (2021/3, Articles, p. 323)

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 (...)

Burim Gashi (2019/6, Miscellanea, p. 769)

The Impact of public debt on Economic Growth: Evidence for Balkan Countries

The aim of this paper is to analyse the impact of public debt on economic growth in five Western Balkan countries using data for the period of 2008–2017. The author investigates whether there is a non-linear (quadratic) relationship between the public debt (measured by its proportion to GDP) and economic growth (measured by the growth rate of GDP per capita) in this group of countries (...)

Maciej Holko (2019/2, Articles, p. 163)

Theory of Taxation and Tax Policy in OECD Countries

In the context of classical, neoclassical and Keynesian theory of economic growth, the article discusses the problem of tax structure and height. Classical economics and Kalecki argued in favour of progressive income or property taxes while neoclassical economics and Kaldor recommended consumption taxes. The results of econometric research support post-Keynesian theory of growth based on (...)

Piotr Ptak (2016/4, Miscellanea, p. 607)

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 (2016/3, Articles, p. 293)

Quo vadis euro – Unio? Perspektywa ekonomii postkeynesowskiej

The strategy adopted by the European Central Bank, European Commission and International Monetary Fund after the outbreak of the global crisis aims at creating new, sustainable foundations for economic growth for member states of the eurozone and of the whole European Union, at full employment and the dynamics of output corresponding to the potential output. This strategy is based on the (...)

Jerzy Osiatyński (2014/2, Articles, p. 275)

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, p. 647)

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 (...)

Marcin Krawczyk (2013/4, Articles, p. 475)

Fiscal and Monetary Policies in a Liquidity Trap

The article deals with the problem of the effectiveness of expansionary fiscal and monetary policies in boosting economic activity in the economy that got stuck in the Keynesian liquidity trap. The liquidity trap is considered to be a dangerous phenomenon because it is accompanied by deflationary expectations and recession. An expansionary fiscal and monetary policy aimed at boosting (...)

Dariusz Rosati (2010/5, Articles, p. 609)

Fiscal Management System of the Eurozone – Directions of Change

The financial crisis in Greece in 2010 has clearly demonstrated that the system of economic governance in the Economic and Monetary Union of the EU, including fiscal rules and mechanisms of multilateral surveillance and control, is largely inefficient and does not ensure sufficient fiscal discipline. The article discusses the main weaknesses of the existing fiscal framework of the EMU and (...)

Marcin Krawczyk (2009/5, Articles, p. 559)

Budget deficit and economic activity

In economic theory the budget deficit policy is a controversial issue and economists dispute over its potency to stimulate the economy.
In the case of deficit which results from increased budgetary expenditure the discussion concentrates on such issues as how lasting are the changes in employment, output and prices caused by deficit spending and to what extent the crowding-out effect would (...)

Arkadiusz Babczuk (2008/6, Articles, p. 777)

Deficit and public debt in the Light of Pre-Keynesian Thought

Managers of public finances and thinkers were interested in public debt long time before economic theory started to be formulated. Initially negative attitude to public debt was a consequence of theological criticism of financial usury. For the first time public debt as instrument of public finance management was accepted by mercantilists. In first half of XIX century most economists (...)

Wacław Wilczyński (2007/6, Articles, p. 755)

Dilemmae of National Policies after 18 Years of Transformation

The breakthrough of 1989 has opened the way to democracy and to market economy. However the controversies concerning the shape of the future economic system last till today. The principles of economic liberalism crashed with ideas. The hopes for quick improvement of living conditions after 40 years of poverty did not help to choose the most promising economic system. After a short but very (...)