出版社：Charles University in Prague, Faculty of Social Sciences, Institute of Economic Studies ; CEEOL
摘要：This paper deals with the growth accounting method used to derive “net fiscal
effort”. Net fiscal effort can then provide a clue about whether fiscal policy
is expansionary or not, and, together with data on economic performance, can
answer the question of the pro- or anti-cyclicality of the fiscal stance.
Traditionally, the answer to such questions has been provided via the cyclically
adjusted budget balance. I argue that the relatively computationally intensive
and data demanding process of estimation of the cyclically adjusted budget
balance can be replaced by the simple growth accounting method without
significant loss of information. I argue that in the general case, the answers
provided via the growth accounting method will not differ widely from the
conclusions provided via the cyclically adjusted budget balance. I then
illustrate the use of growth accounting on Czech fiscal data and compare the
outcomes of both methods. The conclusions reached in the empirical part fit
nicely with the conclusions of the theoretical part of the paper.
