Politická ekonomie 2016, 64(3):245-263 | DOI: 10.18267/j.polek.1069

Implementační zpoždění diskreční fiskální politiky

Jakub Fischer, Hana Lipovská, Daniel Němec
1 Vysoká škola ekonomická v Praze.
2 Masarykova univerzita v Brně.

Implementation Lag of Discretionary Fiscal Policy

The aim of this paper is to quantify the implementation lag of discretionary fiscal policy in the Czech Republic between 1997 and 2013. Based on a unique dataset created for this study, the length and structure of implementation lag is analysed. Dataset is extending the original dataset used by the Czech National Bank. This study further analyses factors with an impact on implementation lag. Implementation lag is the length of period between decision of the economic policy makers on the actual response to the fundamental change in the economy and implementation of this response to the legislation. Average implementation lag of discretionary fiscal policy in the Czech Republic is 2.4 quarters. The greatest deal counts for the implementation lag in the Chamber of Deputies. Length of implementation lag of discretionary fiscal policy is influenced especially by the total occupancy of the Chamber of Deputies, majority, which the government parties have in the Parliament, and the frequency of the veto power usage.

Keywords: implementation lag, discretionary fiscal policy, Czech Republic
JEL classification: H30, H70, K40

Published: June 1, 2016  Show citation

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Fischer, J., Lipovská, H., & Němec, D. (2016). Implementation Lag of Discretionary Fiscal Policy. Politická ekonomie, 64(3), 245-263. doi: 10.18267/j.polek.1069
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