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

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

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 recessio...

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Bibliographic Details
Main Authors: Vladimir Arcabic, Frane Banic
Format: Article
Language:English
Published: Institute of Public Finance 2021-12-01
Series:Public Sector Economics
Subjects:
fiscal policy; sustainability; cyclicality; uncertainty; public debt; nonlinear models
Online Access: http://www.pse-journal.hr/upload/files/pse/2021/4/3.pdf

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