Dealing with the COVID-19 pandemic in Slovenia : simulations with a macroeconometric model

Weyerstrass, Klaus (avtor), Blueschke, Dmitri (avtor), Neck, Reinhard (avtor), Verbič, Miroslav (avtor)

In this paper we analyse the effectiveness of fiscal policies with respect to macroeconomic stabilisation during the COVID-19 pandemic in the small open economy of Slovenia. Using SLOPOL11, an econometric model of the Slovenian economy, we simulate the development of the its economy during the 2020s under alternative assumptions about future pandemic-related shocks. We also determine optimal fiscal policies to combat the effects of the pandemic and to stabilise the economy under two scenarios for the future course of developments under COVID-19. Our simulations show that those public spending measures that entail both demand- and sup- ply-side effects are more effective at stimulating real GDP and increasing employ ment than pure demand-side measures. Successful stabilisation policies should thus contain a supply-side component in addition to a demand-side component.

• Jezik: Angleški jezik
• Ključne besede: macroeconomics, fiscal policy, tax policy, Slovenia, stabilisation policy, policy optimisation, public expenditure, demand management, supply-side policies, public debt
• Vrsta gradiva: Članek v reviji
• Tipologija: 1.01 - Izvirni znanstveni članek
• Organizacija: EF - Ekonomska fakulteta
• Status publikacije: Objavljeno
• Različica publikacije: Objavljena publikacija
• Leto izida: 2023
• Št. strani: Str. 863-881
• Številčenje: Vol. 50
• PID: 20.500.12556/RUL-159703
• UDK: 330.3
• ISSN pri članku: 0340-8744
• DOI: 10.1007/s10663-023-09591-y
• COBISS.SI-ID: 168526851
• Datum objave v RUL: 18.07.2024

Gradivo je del revije

• Naslov: Empirica
• Skrajšan naslov: Empirica
• Založnik: Springer
• ISSN: 0340-8744
• COBISS.SI-ID: 29214465

Licence

• Licenca: CC BY 4.0, Creative Commons Priznanje avtorstva 4.0 Mednarodna
• Povezava: http://creativecommons.org/licenses/by/4.0/deed.sl
• Opis: To je standardna licenca Creative Commons, ki daje uporabnikom največ možnosti za nadaljnjo uporabo dela, pri čemer morajo navesti avtorja.

Sekundarni jezik

• Jezik: Slovenski jezik
• Ključne besede: makroekonomija, fiskalna politika, davčna politika, Slovenija

Projekti

• Financer: FWF - Austrian Science Fund
• Program financ.: Austrian Science Fund (FWF)
• Številka projekta: I 2764-G27
• Naslov: Public spending and fiscal multipliers under various policy mixes

• Financer: ARIS - Javna agencija za znanstvenoraziskovalno in inovacijsko dejavnost Republike Slovenije
• Številka projekta: 630-31/2016-1