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Essays on Fiscal Policy and Productivity Growth
Ambriško, Róbert ; Kejak, Michal (advisor) ; Lipińska, Anna (referee) ; Hollmayr, Josef (referee)
The unifying theme of this dissertation is economic growth in a broad sense. On one hand, economic growth is influenced by productivity growth that has economic consequences for converging economies, which gradually catchup to those that are more advanced. On the other hand, economic growth is influenced by fiscal policy, more specifically by government decisions about taxes and government expenditure. This dissertation consists of three separate chapters. In the first chapter, I focus on the Balassa-Samuelson (henceforth B-S) effect in the context of the convergence of the Czech Republic to the Euro Area. The B-S effect implies that highly productive countries have higher inflation and appreciating real exchange rates because of larger productivity growth differentials between tradable and nontradable sectors relative to advanced economies. The B-S effect may pose a threat to converging European countries that would like to adopt the Euro because of the limits imposed on inflation and nominal exchange rate movements by the Maastricht criteria. Thus, the main goal of this study is to determine whether the B-S effect is a relevant issue for the Czech Republic in complying with selected Maastricht criteria before adopting the Euro. For this purpose, I build and estimate a two-sector DSGE model of a small open...
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