- Autor
- Rzońca Andrzej
- Tytuł
- Portfelowy efekt wypychania a mnożniki fiskalne. Część 1
The Portfolio Crowding out Effect and the Fiscal Multipliers. Part I - Źródło
- Bank i Kredyt, 2005, nr 1, s. 4-14, bibliogr. 27 poz.
- Słowa kluczowe
- Mnożnik fiskalny, Impuls fiskalny, Dług publiczny, Modele makroekonomiczne, Deficyt budżetowy, Wydatki budżetowe, Wydatki gospodarstw domowych, Finanse publiczne
Fiscal multiplier, Fiscal impulse, Public debt, Macroeconomic models, Budget deficit, Budget expenditures, Household expenditures, Public finance - Uwagi
- summ.
- Abstrakt
- Przybliżono sposoby wypychania wydatków prywatnych przez dodatnie impulsy fiskalne. Przedstawiono analizę jednego z nich, w którym dodatnie impulsy fiskalne wypychają wydatki prywatne poprzez wpływ na majątek podmiotów gospodarujących. Do analizy wykorzystano modyfikację modelu IS-LM, zaproponowaną przez Williama L. Silbera. Przedmiotem analizy są skutki ciągłego zwiększania się długu publicznego po wystapieniu jednorazowego dodatniego impulsu fiskalnego, polegającego na przejściu od równowagi w finansach publicznych do deficytu.
This article presents an analysis of the property channel, through which positive fiscal impulses can crowd out private expenditures. The analysis uses a modified IS-LM model proposed by William L. Silber (1970). The issue of portfolio crowding out has never before been described thoroughly in the Polish economic literature. According to the author's best knowledge, it was discussed in more detail only in the work of Urszula Kosterna (1995). The analysis, however, was presented in a graphic form, whereas the article presents an algebraic solution, i.e. one with a higher degree of generality. Furthermore, two modifications were introduced into the Silber's model. Firstly, a real interest rate was added to the set of variables describing consumption, and an income level was added to the investment determinants. Secondly, a simplifying assumption that the physical capital stock is stable was abolished. Specifications of the consumption and investment functions presented in the article are closer to reality than those assumed by Silber. However, these do not have such a fundamental impact on the conclusions drawn from the model as the other modification. Dependence of the physical capital stock on the investment volume ensured equilibrium stability over medium term. The main part of this article includes three chapters: the first one describes the assumptions of the model, in the second one the formulas for fiscal multipliers were derived, in the third one the multiplier sign was examined. All conclusions drawn from the analysis have been gathered in the summary. This is where some intuitive explanations of the interdependencies formally presented in the main body of the article can be found. (original abstract) - Dostępne w
- Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka SGH im. Profesora Andrzeja Grodka
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
Biblioteka Główna Uniwersytetu Ekonomicznego we Wrocławiu - Bibliografia
-
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- Cytowane przez
- ISSN
- 0137-5520
- Język
- pol
