Stability of Tax Revenue in Poland’s National Budget in 2004-2020

Both the amount and structure of tax revenue may change in time as they depend on numerous variables, including factors of the business cycle. However, the stability of tax revenue affects the balance of public finances and the ability to meet public obligations. The aim of this study is to evaluate the stability of tax revenue in Poland’s national budget in 2004-2020. The research results indicate that both the amount and the structure of tax revenue in the national budget in 2004-2020 were stable.

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The Stability of Tax Elasticities over the Business Cycle in European Countries

Fiscal Studies ◽

10.1111/1475-5890.12184 ◽

2019 ◽

Vol 40 (2) ◽

pp. 175-210 ◽

Cited By ~ 2

Author(s):

Melisso Boschi ◽

Stefano d'Addona

Keyword(s):

Business Cycle ◽

European Countries ◽

The Business Cycle ◽

The Stability

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Interbank financing and business cycle in Europe

Journal of Economic Studies ◽

10.1108/jes-08-2016-0148 ◽

2019 ◽

Vol 46 (6) ◽

pp. 1280-1291 ◽

Cited By ~ 1

Author(s):

Ly Kim Cuong ◽

Vo Xuan Vinh

Keyword(s):

Business Cycle ◽

Banking Sector ◽

Financial Structure ◽

Policy Makers ◽

Content Type ◽

Level Data ◽

The Business Cycle ◽

The Stability ◽

Liquidity Shock

Purpose The knowledge of the link between interbank financing and business cycle fluctuations is important in assessing the stability and soundness of the banking sector. The purpose of this paper is to investigate the simultaneous relationship between interbank financing and the business cycle with respect to the financial structure of the bank-based and market-based systems in European countries by using bank-level data from 2007 to 2011. Design/methodology/approach The study employs an innovative instrumenting technique with an instrument of the financial structure to address the simultaneous determination of interbank financing and the business cycle. Findings The results suggest that banks establish pro-cyclical interbank borrowing by increasing their interbank position during booms and reducing it during downturns. Bank-based system performs better in redistributing the liquidity in the economy than the market-based system when there are imperfectly correlated liquidity shocks across regions during the 2007–2009 financial crisis. Practical implications The improvement of banks’ liquidity risk management should be aligned with a specific financial system. The macro-prudential supervisor should require banks in the market-based system to disclose their interbank position on the extent of risk exposure during the liquidity shock period to stabilize the EU banking industry. Originality/value This study is the first to provide policy makers with some novel empirical results concerning the linkage among bank liquidity, the macroeconomic condition and financial structure.

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Do US Government Tax Revenues and Expenditures Respond to Debt Levels and Economic Conditions Asymmetrically over the Business Cycle?

Applied Economics and Finance ◽

10.11114/aef.v5i3.3004 ◽

2018 ◽

Vol 5 (3) ◽

pp. 8

Author(s):

Steven P Cassou ◽

Hedieh Shadmani

Keyword(s):

Business Cycle ◽

Regime Switching ◽

Statistical Significance ◽

Economic Conditions ◽

Tax Revenue ◽

Switching Regression ◽

Us Government ◽

The Business Cycle ◽

The Government ◽

Debt Levels

This paper empirically investigates whether there are asymmetries in the responses of US government tax revenue and expenditure to debt levels and economic conditions over the business cycle. State of the art regime switching regression models, including Threshold Regression and Markov Switching, are investigated. Both sides of the government budget show asymmetries, but the asymmetries for tax revenue show greater statistical significance. The results show that both tax revenue and expenditure respond to high debt levels, with the asymmetry in this response showing that fiscal authorities take weaker action in response to debt during poor economic times. In addition, the asymmetric response to economic conditions for both sides of the budget shows that stronger countercyclical policy is taken during poor economic times.

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A Statistical Investigation of Business Cycles Characteristics in Pakistan

Global Economics Review ◽

10.31703/ger.2017(ii-i).09 ◽

2017 ◽

Vol II (I) ◽

pp. 73-84

Author(s):

Niaz Ali ◽

Muhammad Tariq ◽

Asia Baig

Keyword(s):

Business Cycles ◽

Business Cycle ◽

Statistical Investigation ◽

Test Results ◽

Full Sample ◽

Long Time ◽

Time Periods ◽

The Business Cycle ◽

The Stability ◽

Nominal Variables

This study investigates the business cycle characteristics for Pakistan using three sets of variables namely expenditure components of GDP, nominal variables and real variables. The findings reveal that the volatility of expenditure components are greater than GDP during the full sample of 1973 to 2015. Whereas, in the Pre-SAP and Post-SAP periods i.e. 1973-1988 and 1989-2015, real variables and nominal variables show more volatility than GDP. And, in terms of co-movement, expenditure components of GDP showed strong pro-cyclicality and relationship with GDP against other sets of variables. Moreover, the nominal variables show positive persistence and the business cycles caused by it, lasting for a long time against real variables and expenditure components of GDP. Furthermore, the results show that the correlation between CPI and GDP across all periods is counter cyclical. The stability test results show that business cycles features remained stable during two time periods.

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