Alternative fiscal consolidation strategies are examined in the context of a medium-scale econometric model estimated on Slovak data. The multipliers associated with adjustment on the spending side are generally larger than on the revenue side, which is not uncommon for this class of models. In...

The paper sets out a DSGE model designed and calibrated to match key stylized facts about the Slovak economy. The model includes a detailed fiscal policy block that allows a thorough analysis of fiscal policy measures. To evaluate the performance of the model, the response of the economy to a...