scholarly journals Analisis Dampak Kebijakan Fiskal terhadap Pertumbuhan Ekonomi di Indonesia

2010 ◽  
Vol 10 (2) ◽  
pp. 159-174 ◽  
Author(s):  
Ahmad Nawawi ◽  
Ferry Irawan
Keyword(s):  
Fiscal Policy ◽  
Dynamic Response ◽  
Disposable Income ◽  
Government Expenditures ◽  
Impulse Responses ◽  
Tax Revenues ◽  
Policy Shocks ◽  
Tax Shocks

This paper presents an analysis of the effect of fiscal policy in Indonesia based on a VAR approach. Fiscal policy shocks are identified as a structural residuals related to unexpected government expenditures and tax revenues. Impulse responses are then used to simulate the dynamic response of key macroeconomics variables of shocks. The analysis shows that GDP responses negatively to tax shocks, and positively to expenditure shock. Moreover, disposable income and private consumptionreact negatively to taxation and positively to government expenditures. Altogether the results are consistent with that of Keynesian models.

Empirical Analysis of the Effect of Fiscal Policy Shocks in China

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Jia Ji
Keyword(s):  
Fiscal Policy ◽  
Interest Rates ◽  
Government Spending ◽  
Policy Design ◽  
Policy Decision ◽  
Growth Stimulation ◽  
Economic Activities ◽  
Policy Makers ◽  
Policy Shocks ◽  
Tax Shocks

Abstract The central issues concerning fiscal policy makers include macroeconomic stability and growth stimulation. The policy decision process is facilitated by investigation on the effects of fiscal policy, such as a change in government spending or taxes on macroeconomic variables comprising inflation, aggregate output, and interest rates. Build on the Blanchard-Perotti identification approach, this paper empirically analyses the influence of fiscal policy to aggregate economic activities in China, and the estimated results are compared between China and the advanced economies. The findings demonstrate that the impulse responses incurred by tax shocks are generally stimulative, although government spending shocks tend to be neutral, revealing meaningful implications for the fiscal space and policy design.

scholarly journals The Dynamic Iinterrelationships Between Fiscal and Monetary Policies in Jordan

2021 ◽  
Vol 04 (12) ◽  
Author(s):  
Jumah Ahmad Alzyadat ◽  
Keyword(s):  
Monetary Policy ◽  
Fiscal Policy ◽  
Interest Rates ◽  
Causal Relationship ◽  
Money Supply ◽  
Impulse Response Function ◽  
Decomposition Analysis ◽  
Government Expenditures ◽  
Causality Test ◽  
Tax Revenues

This study aims to answer the question: What is the nature of the relationship between fiscal and monetary policy in Jordan? Are the two policies complementary to each other, alternatives, or go in opposite directions?. This study applies the vector autoregression VAR, the Impulse Response Function test, the Granger Causality test, and the. Variance Decomposition Analysis. The results showed that there is a bidirectional causal relationship between government expenditures and money supply, as well as a bidirectional causal relationship between tax revenues and money supply, the main conclusion that the fiscal policy through the use of government expenditures and tax revenues and the monetary policy through the money supply go in the same direction, and complement each other, this is supported by the fact that the expansionary fiscal policy in Jordan during the study period was also accompanied by an expansionary monetary policy. The monetary authority sets interest rates on loans and there is no significant role for fiscal policy instruments in influencing the interest rate in Jordan. The study recommends harmonization between the declared and implemented policy. Each authority should serve its goals with independence and complementarity between the two policies. In this case, coordination means preventing extremism in pursuing an expansionary or contractionary policy from this or that authority, what is required is that the Central Bank and the Ministry of Finance agree on coordination, integration and balance between objectives.

scholarly journals The impact of COVID-19 on households´ income in the EU

2021 ◽  
Author(s):  
Vanda Almeida ◽  
Salvador Barrios ◽  
Michael Christl ◽  
Silvia De Poli ◽  
Alberto Tumino ◽  
...  
Keyword(s):  
Fiscal Policy ◽  
Disposable Income ◽  
Income Loss ◽  
Eu Member States ◽  
Policy Interventions ◽  
Discretionary Fiscal Policy ◽  
Policy Measures ◽  
The One ◽  
The Impact ◽  
The Eu

AbstractThis analysis makes use of economic forecasts for 2020 issued by the European Commission in Autumn 2019 and Spring 2020, and of a counterfactual under a no-policy change assumption, to analyse the impact of the COVID-19 crisis on EU households´ income. Additionally, our analysis assesses the cushioning effect of discretionary fiscal policy measures taken by the EU Member States. We find that the COVID-19 pandemic is likely to affect significantly households’ disposable income in the EU, with lower income households being more severely hit. However, our results show that due to policy intervention, the impact of the crisis is expected to be similar to the one experienced during the 2008–2009 financial crisis. In detail, our results indicate that discretionary fiscal policy measures will play a significant cushioning role, reducing the size of the income loss (from −9.3% to −4.3% for the average equivalised disposable income), its regressivity and mitigating the poverty impact of the pandemic. We conclude that policy interventions are therefore instrumental in cushioning against the impact of the crisis on inequality and poverty.

scholarly journals Relative Effectiveness of Monetary and Fiscal Policies on Output Stabilization in Developing Countries: Evidence from Rwanda

2017 ◽  
Vol 10 (1) ◽  
pp. 220
Author(s):  
Kabanda Richard ◽  
Peter W. Muriu ◽  
Benjamin Maturu
Keyword(s):  
Monetary Policy ◽  
Fiscal Policy ◽  
Relative Effectiveness ◽  
Variance Decomposition ◽  
Var Model ◽  
Fiscal Policies ◽  
Impulse Responses ◽  
Exogenous Variables ◽  
Output Stabilization ◽  
The Government

The aim of this study was to explain the relative effectiveness of monetary and fiscal policies in explaining output in Rwanda. The study used a sample of quarterly data for the period 1996-2014. Applying a recursive VAR, the study used 12 variables, including 5 endogenous and 7exogenous variables to the benchmark model and other two specifications were attempted to capture the true contribution of monetary and fiscal policies to variations in nominal output. Obtained results using impulse responses and variance decomposition provide evidence that monetary policy is more effective than fiscal policy in explaining changes in nominal output in Rwanda. In addition, monetary policy explains better output when the VAR model contains domestic exogenous variables than when they are not included, suggesting the relevance of including domestic exogenous variables in VAR specification of monetary and fiscal policies effectiveness on economic variables. Another suggestion is that in order to achieve higher growth, the government of Rwanda should rely more on monetary policy as compared to fiscal policy.

Panel Data Evidence on the Effects of Fiscal Policy Shocks in the EU New Member States

2014 ◽  
Vol 35 (2) ◽  
pp. 189-224 ◽  
Author(s):  
Paweł Borys ◽  
Piotr Ciżkowicz ◽  
Andrzej Rzońca
Keyword(s):  
Fiscal Policy ◽  
Panel Data ◽  
Member States ◽  
New Member States ◽  
Policy Shocks ◽  
Eu New Member States ◽  
The Eu

scholarly journals The Tax Revenue in Iraq Between the Efficiency of Tax Administration and the Elements of the Success of the Tax System

2017 ◽  
Vol 1 (2) ◽  
pp. 53-73
Author(s):  
.Mohamed Helou Daoud Al-Khorsan ◽  
Hana Ali Hussein Al-Quraishi ◽  
Ziad Taher Mohamed Ali
Keyword(s):  
Fiscal Policy ◽  
Tax Revenue ◽  
Tax Administration ◽  
State Budget ◽  
Tax System ◽  
Economic Changes ◽  
Tax Revenues ◽  
Political Ideas ◽  
Modest Contribution ◽  
The Impact

There is growing interest by governments in different systems of government in which political ideas which it believes, taxes as instruments of fiscal policy, seeking to achieve through which political, social and economic goals as well as "financial targets, as the tax policy formulated objectives and plans its revenues consistently and harmony with the objectives of economic policy in general, In the context of the tax reform, different countries have resorted to the search for possible alternatives to maintain a financially, economically and socially effective fiscal policy. Iraq should not be different from these countries. It establishes a fiscal policy to achieve tax revenues by activating the role of the tax system to strengthen the budget in the light of economic changes and financial crises in recent years, The main reason for the need to activate the tax system in Iraq is the very modest contribution of tax revenues within the state budget, To address the reasons for the low contribution of tax revenues it is necessary to identify the elements of the success of the tax system and discuss the tax revenue in two aspects The level of general headquarters and branches on the one hand, and knowledge the facilities or obstacles which is provided by the tax system   to increase the proceeds of the receipt of the other, and finally reach the reform of the tax system, which we find an important requirement for the reform of the Iraqi financial and economic system in this time, In this context, the study deals with the tax revenues in Iraq as planned by the tax administration in accordance with the statistics of the tax administration and then identify the impact of the tax system in making the proceeds low for public revenues.

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