In order to ensure the highest quality of our services, we use small files called cookies. When using our website, the cookie files are downloaded onto your device. You can change the settings of your browser at any time. In addition, your use of our website is tantamount to your consent to the processing of your personal data provided by electronic means.

Back

No 20-2015, D. Korniluk: Fiscal policy in the DSGE models

 

This paper reviews literature on the fiscal policy in the dynamic stochastic general equilibrium (DSGE) models, which are divided into the real business cycle and the new keynesian (new neoclassical synthesis) ones. The aim of this article is to determine appropriate features of the DSGE model, which would allow for finding the optimal size and composition of government expenditure. The particular attention was paid to the specification of the government expenditure in the household utility function, as well as of the production function and the government budget constraint, debt and the fiscal rules. The proposed solutions were assessed in terms of simplicity and consistency between the assumptions and the implied predictions with reality.

 

Materials

MF Working Papers No 20-2015
mf​_wp​_20.pdf 0.65MB
Public Information Bulletin Logo
Information on the publication of the document
First published on:
01.02.2019 14:21 Monika Błaszczyk
Written by:
Macroeconomic Policy Department
Title Version Edition / publication data
No 20-2015, D. Korniluk: Fiscal policy in the DSGE models 1.1 20.02.2019 13:48 Paulina Gronek
No 20-2015, D. Korniluk: Polityka fiskalna w modelach DSGE 1.0 01.02.2019 14:21 Monika Błaszczyk

In order to obtain the archived version, please contact the PIB Editorial Office.

{"register":{"columns":[]}}