预算赤字的决定因素:COVID-19危机的影响

Q3 Economics, Econometrics and Finance Economic Annals Pub Date : 2022-01-01 DOI:10.2298/eka2232105t

Dragan Tevdovski, Petar Jolakoski, Viktor Stojkoski

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引用次数: 2

摘要

本文回顾了预算平衡决定因素的讨论，并调查了其在2019冠状病毒病危机背景下的影响变化。该分析使用了43个国家的数据和系统广义矩法。结果表明，全球大流行病的总体影响导致宏观经济决定因素对预算平衡的估计影响不成比例地增加。我们还发现，在相同的初级平衡相对水平下，更发达的经济体能够实施更高的刺激方案。我们认为，影响这一结果的因素之一是，它们更多的政府债务是以本币持有的。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Determinants of budget deficits: The effects of the COVID-19 crisis

This paper revisits the discussion on the determinants of budget balances and investigates the change in their effect in the context of the COVID-19 crisis. The analysis uses data on 43 countries and a system generalised method of moments approach. The results show that the overall impact of the global pandemic has led to a disproportionate increase in the estimated effects of the macroeconomic determinants on the budget balance. We also find that more developed economies were able to implement higher stimulus packages for the same relative level of primary balance. We believe that one of the factors affecting this outcome is that more of their government debt is held in domestic currency.

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来源期刊

Economic Annals Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

0.90

自引率

0.00%

发文量

审稿时长

18 weeks

期刊介绍： Economic Annals is an academic journal that has been published on a quarterly basis since 1955, initially under its Serbian name of Ekonomski anali (EconLit). Since 2006 it has been published exclusively in English. It is published by the Faculty of Economics, University of Belgrade, Serbia. The journal publishes research in all areas of economics. The Editorial Board welcomes contributions that explore economic issues in a comparative perspective with a focus on transition and emerging economies in Europe and around the world. The journal encourages the submission of original unpublished works, not under consideration by other journals or publications. All submitted papers undergo a double blind refereeing process. Authors are expected to follow standard publication procedures [Instructions to Authors], to recognise the values of the international academic community and to respect the journal’s Policy.