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dc.contributor.authorHaug, Alfred
dc.contributor.authorJedrzejowicz, Tomasz
dc.contributor.authorSznajderska, Anna
dc.date.available2013-10-29T00:56:13Z
dc.date.copyright2013-10
dc.identifier.citationHaug, A., Jedrzejowicz, T., & Sznajderska, A. (2013). Combining Monetary and Fiscal Policy in an SVAR for a Small Open Economy (Economics Discussion Papers No. 1313). University of Otago. Retrieved from http://hdl.handle.net/10523/4360en
dc.identifier.issn1178-2293 (Online)
dc.identifier.urihttp://hdl.handle.net/10523/4360
dc.description.abstractThis paper combines a monetary structural vector-autoregression (SVAR) with a fiscal SVAR for Poland. Fiscal foresight, in the form of implementation lags, is accounted for with respect to both discretionary government spending and tax changes. We demonstrate the importance of combining monetary and scal transmission mechanisms. However, ignoring fiscal foresight has no statistically significant effects. We calculate an initial government spending multiplier of 0.14, which later peaks at 0.48. The tax multiplier is close to zero. We also find that monetary policy in Poland transmits mainly through the real sector, that is through real GDP and the real exchange rate.en_NZ
dc.format.mimetypeapplication/pdf
dc.language.isoenen_NZ
dc.publisherUniversity of Otagoen_NZ
dc.relation.ispartofseriesEconomics Discussion Papers Seriesen_NZ
dc.rightsAttribution-NonCommercial-ShareAlike 3.0 Unported*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-sa/3.0/*
dc.subjectStructural vector autoregressionsen_NZ
dc.subjectmonetaryen_NZ
dc.subjectfiscal policy;en_NZ
dc.subjectfiscal foresighten_NZ
dc.subjectnarrative approachen_NZ
dc.titleCombining Monetary and Fiscal Policy in an SVAR for a Small Open Economyen_NZ
dc.typeDiscussion Paperen_NZ
dc.date.updated2013-10-29T00:36:08Z
otago.schoolOtago Business School / Department of Economicsen_NZ
otago.openaccessOpen
otago.relation.number1313en_NZ
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Attribution-NonCommercial-ShareAlike 3.0 Unported
Except where otherwise noted, this item's licence is described as Attribution-NonCommercial-ShareAlike 3.0 Unported