About: Macroeconomic Shocks and the Fiscal Stance within the EU: A Panel Regression Analysis

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
Description	The recent global financial crisis has had a diverse effect on countries’ fiscal stance, especially throughout the EU. This paper examines the impact of macroeconomic shocks, including those to government revenues and expenditures, on EU countries’ fiscal stance, on aggregate, and within the EU’s sub-regions as defined by the length of countries’ membership in the EU and their level of indebtedness. The fiscal stance is measured by means of the government deficit, and the impact of macroeconomic shocks is examined using impulse responses from a structural vector autoregression (SVAR) model estimated on annual panel data. The analyzed system of macroeconomic variables includes, government revenues and expenditures, GDP growth, CPI inflation, the interest rate, the terms of trade, and the real effective exchange rate. The paper discusses the policy implications and the challenges for the EU and its sub-regions concerning the fiscal policy setting and balanced fiscal stance. The recent global financial crisis has had a diverse effect on countries’ fiscal stance, especially throughout the EU. This paper examines the impact of macroeconomic shocks, including those to government revenues and expenditures, on EU countries’ fiscal stance, on aggregate, and within the EU’s sub-regions as defined by the length of countries’ membership in the EU and their level of indebtedness. The fiscal stance is measured by means of the government deficit, and the impact of macroeconomic shocks is examined using impulse responses from a structural vector autoregression (SVAR) model estimated on annual panel data. The analyzed system of macroeconomic variables includes, government revenues and expenditures, GDP growth, CPI inflation, the interest rate, the terms of trade, and the real effective exchange rate. The paper discusses the policy implications and the challenges for the EU and its sub-regions concerning the fiscal policy setting and balanced fiscal stance. (en)
Title	Macroeconomic Shocks and the Fiscal Stance within the EU: A Panel Regression Analysis Macroeconomic Shocks and the Fiscal Stance within the EU: A Panel Regression Analysis (en)
skos:prefLabel	Macroeconomic Shocks and the Fiscal Stance within the EU: A Panel Regression Analysis Macroeconomic Shocks and the Fiscal Stance within the EU: A Panel Regression Analysis (en)
skos:notation	RIV/61989100:27510/12:86078901!RIV13-GA0-27510___
http://linked.open...avai/predkladatel	Ekonomická fakulta
http://linked.open...avai/riv/aktivita	P
http://linked.open...avai/riv/aktivity	P(GAP402/10/1046)
http://linked.open...vai/riv/dodaniDat	2013
http://linked.open...aciTvurceVysledku	Melecký, Martin
http://linked.open.../riv/druhVysledku	D - Článek ve sborníku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Vysoká škola báňská - Technická univerzita Ostrava / Ekonomická fakulta
http://linked.open...dnocenehoVysledku	147695
http://linked.open...ai/riv/idVysledku	RIV/61989100:27510/12:86078901
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	Macroeconomic shocks, Fiscal Stance, European Union, Panel Data Analysis, Structural Vector Autoregression Models (en)
http://linked.open.../riv/klicoveSlovo	European Union Fiscal Stance Macroeconomic shocks Panel Data Analysis Structural Vector Autoregression Models
http://linked.open...ontrolniKodProRIV	[323B5A577481]
http://linked.open...v/mistoKonaniAkce	Ostrava
http://linked.open...i/riv/mistoVydani	Karviná
http://linked.open...i/riv/nazevZdroje	Proceedings of the 13th International Conference on Finance and Banking : 12-13 October 2011, Ostrava, Czech Republic
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	1 (xsd:int)
http://linked.open...cetTvurcuVysledku	2 (xsd:int)
http://linked.open...vavai/riv/projekt	Fiscal Policy and the Czech Economy: Macroeconometric Studies
http://linked.open...UplatneniVysledku	2012
http://linked.open...iv/tvurceVysledku	Melecký, Martin Dybczak, Kamil
http://linked.open...vavai/riv/typAkce	EUR - Evropská
http://linked.open...ain/vavai/riv/wos	000309369700008
http://linked.open.../riv/zahajeniAkce	2011-10-12 (xsd:date)
number of pages	10 (xsd:int)
http://purl.org/ne...btex#hasPublisher	Silesian University, School of Business Administration
https://schema.org/isbn	978-80-7248-753-0
http://localhost/t...ganizacniJednotka	27510
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