Vol. 9, No 4, 2012 pp. 393 - 405
UDC 336.02:338.124.4
THE EFFECTS OF FISCAL POLICY IN THE CONTEMPORARY ECONOMIC CRISIS CONDITIONS
Biljana Rakic, Milivoje Pesic, Tamara Radjenovic
Faculty of Economics, University of Niš, Serbia
biljana.rakic@eknfak.ni.ac.rs
Fiscal policy plays an important role in accomplishing crucial goals of economic policy in an economy, especially, production and employment increase. Acknowledgement and application of fiscal policy require differentiated attitudes in different situations. Namely, tax reduction or tax increase in certain circumstances may lead to employment increase, or demand inflation stop, while on the other hand public expenditures may influence resource allocation and production structure, thus influencing the accomplishment of specific production priorities in a country. The situation is far more complicated in the economic crisis conditions. In this paper, the authors discuss the fiscal policy model and its implications on the fulfillment of specific macroeconomic goals, especially in the contemporary economic crisis conditions.
Key Words: fiscal policy, liquidity trap, government consumption, taxes, fiscal policy model
DOMETI FISKALNE POLITIKE U USLOVIMA SAVREMENE EKONOMSKE KRIZE
Fiskalna politika igra važnu ulogu u ostvarivanju ključnih ciljeva ekonomske politike jedne zemlje, posebno, povećanju proizvodnje i zaposlenosti. Poznavanje i primena fiskalne politike zahteva diferencirani stav u različitim situacijama. Naime, smanjenje ili povećanje poreza u određenim okolnostima može dovesti do povećanja zaposlenosti ili zaustavljanja inflacije tražnje, dok na drugoj strani javni rashodi mogu da utiču na alokaciju resursa i strukturu proizvodnje, na taj način utičući na postizanje izabranih prioriteta u proizvodnji jedne zemlje. Situacija je složenija u uslovima ekonomske krize. U ovom radu, autori diskutuju model fiskalne politike i njegove domete u ostvarivanju specifičnih makroekonomskih ciljeva.
Ključne reči: fiskalna politika, zamka likvidnosti, državna potrošnja, porezi, model fiskalne politike