bibtype J - Journal Article
ARLID 0465222
utime 20240103212928.1
mtime 20161114235959.9
DOI 10.13140/RG.2.2.19237.70881
title (primary) (eng) New Fiscal Rules for the Czech Republic: Analysis of the Proposal
specification
page_count 44 s.
media_type E
serial
title IES Occassional paper
volume_id 2016
keyword fiscal rules
keyword fiscal policy
keyword real-time data
author (primary)
ARLID cav_un_auth*0231592
full_dept (cz) Ekonometrie
full_dept (eng) Department of Econometrics
department (cz) E
department (eng) E
full_dept Department of Econometrics
name1 Baxa
name2 Jaromír
institution UTIA-B
country CZ
fullinstit Ústav teorie informace a automatizace AV ČR, v. v. i.
author
ARLID cav_un_auth*0244921
name1 Paulus
name2 M.
country CZ
source
url http://library.utia.cas.cz/separaty/2016/E/baxa-0465222.pdf
cas_special
abstract (eng) We assess the proposal for a new fiscal framework that is currently being negotiated in the Parliament of the Czech Republic. The new framework contains the following elements: an expenditure rule that aims to restrain the growth of expenditures through cyclically adjusted revenues and a debt brake at a debt level corresponding to 55% of GDP to avoid unsustainable debt levels. Additionally, this set of rules shall be complemented by the Fiscal Council. Our assessment focuses on evaluating the performance of the new framework using two types of counterfactuals if it had been implemented a decade ago. In general, although we confirm the positive effects of the proposed framework, we also raise several concerns, primarily related to the effects of the rule on the ability of the public finances to operate as a macroeconomic stabilization policy.
RIV AH
reportyear 2017
num_of_auth 2
inst_support RVO:67985556
permalink http://hdl.handle.net/11104/0265398
mrcbC61 1
cooperation
ARLID cav_un_auth*0321375
name Univerzita Karlova
confidential S
arlyear 2016
mrcbU63 IES Occassional paper Roč. 2016 č. 1 2016