Public Sector Economics

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Design of fiscal consolidation packages and model-based fiscal multipliers in Croatia*



Milan Deskar-Škrbić**
   
Darjan Milutinović**
Article   |   Year:  2021   |   Pages:  1 - 61   |   Volume:  45   |   Issue:  1
Received:  June 1, 2020   |   Accepted:  December 4, 2020   |   Published online:  March 9, 2021
Download citation        https://doi.org/10.3326/pse.45.1.1       


Table 1
Structural consolidation measure (% of GDP)
DISPLAY Table

Figure 1
Structural consolidation measures, % of GDP
DISPLAY Figure

Figure 2
Structural revenue measures, % of GDP
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Figure 3
Structural expenditure measures, % of GDP
DISPLAY Figure

Figure 4
Decomposition of the change of general government balance (pp of GDP)
DISPLAY Figure

Figure 5
Decomposition of the change of general government debt (pp of GDP)
DISPLAY Figure

Figure 6
Structure of the macro-fiscal model of the Croatian economy
DISPLAY Figure

Table 2
Fiscal multipliers: revenue-side instruments
DISPLAY Table

Table 3
Fiscal multipliers: expenditure-side instruments
DISPLAY Table

Table 4
Growth-friendly fiscal consolidation package
DISPLAY Table

Table 5
Weighted expenditure-based fiscal multipliers
DISPLAY Table

Figure 7
Fiscal and macroeconomic outcomes of the EDP and counterfactual scenario
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Figure A2.1
Endogenous variables – baseline scenario vs. actuals (levels)
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Figure A2.2
Endogenous variables – baseline scenario vs. actuals (growth rates)
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Table A4.1
Model-based approach
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Table A5.1
Announced structural measures during the EDP
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Table A6.1
Forecast of macro and fiscal variables under baseline and EDP scenario (December 2013)
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Table A6.2
Timeline of the EDP consolidation
DISPLAY Table

Figure A7.1
Revenues
DISPLAY Figure

Figure A7.2
Expenditures
DISPLAY Figure

  March, 2021
I/2021
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