文章基本信息

标题：Estimated Reaction Function of Fiscal Policy in Romania
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作者：Camelia Moraru ; Norina Popovici
期刊名称：Ovidius University Annals: Economic Sciences Series
电子版ISSN：2393-3127
出版年度：2015
卷号：15
期号：2
语种：English
出版社：Ovidius University Press
摘要：Romanian fiscal policy effectiveness can be assessed using fiscal policy reaction function, which follows the reaction of the structural budget balance to the recorded changes of indebtedness, output gap and to their previous values. In economic literature, the reaction function is the most relevant method of testing the sustainability of public finances. Estimated reaction function using Cyclically Adjusted Balance model showed that in the period analyzed in Romania as promoted a procyclical fiscal policy and in the decision process, the fiscal policy decision-makers do not take into account past performance of structural budget deficit indicator.
关键词：fiscal policy;structural budget deficit;output gap