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@inproceedings{1371118,
author = {Buček, Jakub},
address = {Hradec Králové},
booktitle = {Hradec Economic Days 2017},
editor = {Pavel Jedlička, Petra Marešová, Ivan Soukal},
keywords = {Fiscal policy; Markov-Switching VAR},
howpublished = {elektronická verze "online"},
language = {eng},
location = {Hradec Králové},
isbn = {978-80-7435-664-3},
pages = {113-119},
publisher = {University of Hradec Králové},
title = {Fiscal regime switches in Slovak economy: MS-VAR approach},
url = {http://fim2.uhk.cz/hed/images/KOMPLET_en_17.pdf},
year = {2017}
}
TY - JOUR
ID - 1371118
AU - Buček, Jakub
PY - 2017
TI - Fiscal regime switches in Slovak economy: MS-VAR approach
PB - University of Hradec Králové
CY - Hradec Králové
SN - 9788074356643
KW - Fiscal policy
KW - Markov-Switching VAR
UR - http://fim2.uhk.cz/hed/images/KOMPLET_en_17.pdf
N2 - This paper investigates the switches in Slovak fiscal policy. Two regimes of fiscal policy were identified by Markov-Switching vector-autoregressive model. In the Regime 1, that lasts on average only for a half of year, the output responds to shocks in taxes and government spending in accordance with expectation: it increases as taxes revenue decreases and spending increases. To the contrary, the fiscal policy in the Regime 2, that is more frequent in the observed period, is non-functional according to the estimated model: the output does not react to impulses in taxes, neither spending. The model was estimated using quarterly time series of Slovak economy for the period 1999:3–2015:3.
ER -
BUČEK, Jakub. Fiscal regime switches in Slovak economy: MS-VAR approach. Online. In Pavel Jedlička, Petra Marešová, Ivan Soukal. \textit{Hradec Economic Days 2017}. Hradec Králové: University of Hradec Králové, 2017, p.~113-119. ISBN~978-80-7435-664-3.
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