Fiscal Policy and Regional Business Cycles in Poland
Kamil Kotliński
Department of Macroeconomics, Faculty of Economic Sciences, University of Warmia and Mazury in OlsztynRafał Warżała
Department of Macroeconomics, Faculty of Economic Sciences, University of Warmia and Mazury in OlsztynResumen
The aim of this paper is to evaluate the adequacy of discretionary fiscal policy, implemented at the national level, on the course of regional business fluctuations in Poland. Research is conducted as follows: identification of regional business cycles, identification of national fiscal policy as restrictive or expansive, and comparison of fiscal policy adequacy and phases of regional business cycles. In order to separate a cyclical factor from the empirical data, the Christiano-Fitzgerald asymmetrical filter was exploited. The character of discretional fiscal policy was evaluated on the basis of cyclically adjusted primary balance, as well as positive or negative output gap. The empirical results show that fiscal policy is not always cyclically appropriate for all 16 Polish regions.mThe reason for this is divergence among Polish regions both in the matter of regional business cycle morphology, and in the aspect of phase shifts.
Palabras clave:
fiscal policy, business cycle, region
Department of Macroeconomics, Faculty of Economic Sciences, University of Warmia and Mazury in Olsztyn
Department of Macroeconomics, Faculty of Economic Sciences, University of Warmia and Mazury in Olsztyn
Licencia
An Author declares that his paper has not been published before (under the same or another title, or is a part of another publication) and does not infringe copyrights of other persons**. At the same time, the Author transfers to the Publisher the exclusive right to publish and to circulate this work in print in the form of a non-serial journal publication and in a form of an electronic publication.
The journal is available on Creative Common license CC-BY-NC-ND
