Finland: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2003 Issue 326

Publication date: October 2003

ISBN: 9781451813210

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Labor , Public Finance , Taxation - General , ISCR , CR , GDP , output gap measure , HP estimation approach , revenue item , GDP growth , production function approach , peak output gap , HP filter , expenditure shock , Output gap , Potential output , Unemployment rate

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Summary

In light of potential changes in fiscal policy in Finland, the impact of changes in the fiscal stance on short-term economic growth is an issue of interest. This paper estimates the short-term impact of fiscal policy on growth in Finland. The estimates are based on a structural vector autoregression (SVAR) model. However, identifying the long-term impact of changes in labor taxes on employment and growth is not an easy task. Although fiscal policy influences GDP in the short-term, the impact remains small compared with results.