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Author
Rzońca Andrzej
Title
Efekty restrykcyjnej polityki fiskalnej w zmodyfikowanym modelu Mankiwa-Summersa
Effects of Tight Fiscal Policy in Modified Mankiw and Summers Model
Source
Bank i Kredyt, 2007, nr 6, s. 24-38, bibliogr. 23 poz.
Keyword
Wymiana międzynarodowa, Gospodarka otwarta, Produkt, Wymiana handlowa, Modele makroekonomiczne, Przepływy kapitałowe, Finanse publiczne, Model IS/LM
International exchange, Open economy, Product, Trade exchange, Macroeconomic models, Capital flows, Public finance, IS/LM model
Note
streszcz., summ.
Abstract
Model IS-LM miał duży udział w rozpowszechnieniu poglądu o ujemnej - w krótkim okresie - zależności produktu od zmiany salda sektora finansów publicznych. Tymczasem w wyniku modyfikacji choćby pojedynczego założenia tego modelu znak tej zależności może zmienić się na niekeynesowski. Artykuł przedstawia skutki modyfikacji funkcji popytu na pieniądz zaproponowanej przez Mankiwa i Summersa (1984). Dodatkowo gospodarkę w modelu otwarto na międzynarodową wymianę handlową i przepływy kapitału. Pokazano, że im więcej zależności zakładanych w modelu IS-LM przybliży się do występujących w rzeczywistości, tym bardziej niepewna staje się keynesowska reakcja produktu na zmiany deficytu. (abstrakt oryginalny)

The IS-LM model has largely contributed to the spread of a belief that a reduction of fiscal deficit has to lead to a drop in output in the short term. However, if one modifies even a single assumption of that model, the relationship between change in output and fiscal deficit respectively may become non-Keynesian. The article presents effects of the modification of demand for money proposed by Mankiw and Summers (1984). Additionally, the model analyzed in the article is opened for international trade and capital flows. The article shows that the more accurately the assumptions of IS-LM reflect relationships observed in a real economy, the more uncertain the Keynesian reaction of output on changes in fiscal stance. (original abstract)
Accessibility
The Main Library of the Cracow University of Economics
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
The Main Library of the Wroclaw University of Economics
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Bibliography
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ISSN
0137-5520
Language
pol
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