Effects of Fiscal Consolidation in the Czech Republic Vladimir Klyuev

ISBN: 9786613868374

Published: March 1st 2011

ebook

67 pages


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Effects of Fiscal Consolidation in the Czech Republic  by  Vladimir Klyuev

Effects of Fiscal Consolidation in the Czech Republic by Vladimir Klyuev
March 1st 2011 | ebook | PDF, EPUB, FB2, DjVu, AUDIO, mp3, ZIP | 67 pages | ISBN: 9786613868374 | 8.42 Mb

This paper uses the IMFs Global Integrated Monetary and Fiscal Model (GIMF) to assess the impact of fiscal consolidation on the Czech economy. Its contribution is threefold. First, it provides estimates of dynamic fiscal multipliers for a variety ofMoreThis paper uses the IMFs Global Integrated Monetary and Fiscal Model (GIMF) to assess the impact of fiscal consolidation on the Czech economy. Its contribution is threefold.

First, it provides estimates of dynamic fiscal multipliers for a variety of fiscal instruments (tax and expenditure), consolidation durations, assumptions about credibility, and monetary policy responses. Second, the paper evaluates the impact on the economy of tightening measures envisaged in the 2011 budget. Third, the paper considers alternative packages for consolidation beyond 2011 to achieve the governments balanced budget target by 2016 and identifies which forms of adjustment are more growth-friendly.



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