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Pregled bibliografske jedinice broj: 1163075

Characteristics of fiscal policy in Croatia: does it depend on the phase of the business cycle?


Arčabić, Vladimir; Banić, Frane
Characteristics of fiscal policy in Croatia: does it depend on the phase of the business cycle? // Public sector economics, 45 (2021), 4; 433-457 doi:10.3326/pse.45.4.3 (međunarodna recenzija, članak, znanstveni)


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Naslov
Characteristics of fiscal policy in Croatia: does it depend on the phase of the business cycle?

Autori
Arčabić, Vladimir ; Banić, Frane

Izvornik
Public sector economics (2459-8860) 45 (2021), 4; 433-457

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
fiscal policy ; sustainability ; cyclicality ; uncertainty ; public debt ; nonlinear models

Sažetak
This paper analyzes fiscal policy sustainability and cyclicality in Croatia. The main novelty of the paper is that our fiscal response function allows for asymmetric behavior over the business cycle. We allow fiscal policy sustainability and cyclicality to differ across the expansionary and recessionary regimes. The overall results suggest that fiscal policy in Croatia is both sustainable and countercyclical. We find evidence of asymmetric behavior of fiscal policy cyclicality. In the expansionary regime, fiscal policy is countercyclical, while in the recessionary regime, it varies between procyclical and acyclical. On the other hand, we find only limited evidence of asymmetric behavior of public debt sustainability. During good times, Croatian policymakers try to keep fiscal policy both sustainable and countercyclical, which is required fiscal policy behavior. In recessionary times, the characteristics of fiscal policy are not so clear, but tend to be procyclical or acyclical.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija



POVEZANOST RADA


Projekti:
IP-2019-04-4500 - Analiza strukturnih čimbenika konvergencije Republike Hrvatske tijekom tranzicijskog procesa (CONVRH) (Tica, Josip, HRZZ - 2019-04) ( POIROT)
UIP-2017-05-6785 - Osnivanje i razvoj Centra za strukturno i nelinearno makroekonomsko modeliranje (MacroHub) (MACROHUB) (Globan, Tomislav, HRZZ - 2017-05) ( POIROT)

Ustanove:
Ekonomski fakultet, Zagreb

Profili:

Avatar Url Vladimir Arčabić (autor)

Poveznice na cjeloviti tekst rada:

Pristup cjelovitom tekstu rada doi www.pse-journal.hr

Citiraj ovu publikaciju:

Arčabić, Vladimir; Banić, Frane
Characteristics of fiscal policy in Croatia: does it depend on the phase of the business cycle? // Public sector economics, 45 (2021), 4; 433-457 doi:10.3326/pse.45.4.3 (međunarodna recenzija, članak, znanstveni)
Arčabić, V. & Banić, F. (2021) Characteristics of fiscal policy in Croatia: does it depend on the phase of the business cycle?. Public sector economics, 45 (4), 433-457 doi:10.3326/pse.45.4.3.
@article{article, author = {Ar\v{c}abi\'{c}, Vladimir and Bani\'{c}, Frane}, year = {2021}, pages = {433-457}, DOI = {10.3326/pse.45.4.3}, keywords = {fiscal policy, sustainability, cyclicality, uncertainty, public debt, nonlinear models}, journal = {Public sector economics}, doi = {10.3326/pse.45.4.3}, volume = {45}, number = {4}, issn = {2459-8860}, title = {Characteristics of fiscal policy in Croatia: does it depend on the phase of the business cycle?}, keyword = {fiscal policy, sustainability, cyclicality, uncertainty, public debt, nonlinear models} }
@article{article, author = {Ar\v{c}abi\'{c}, Vladimir and Bani\'{c}, Frane}, year = {2021}, pages = {433-457}, DOI = {10.3326/pse.45.4.3}, keywords = {fiscal policy, sustainability, cyclicality, uncertainty, public debt, nonlinear models}, journal = {Public sector economics}, doi = {10.3326/pse.45.4.3}, volume = {45}, number = {4}, issn = {2459-8860}, title = {Characteristics of fiscal policy in Croatia: does it depend on the phase of the business cycle?}, keyword = {fiscal policy, sustainability, cyclicality, uncertainty, public debt, nonlinear models} }

Časopis indeksira:


  • Scopus


Uključenost u ostale bibliografske baze podataka::


  • EconLit


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