Analýza vztahu externí a fiskální nerovnováhy

Abstract

The aim of this work is determine the relationship between external and fiscal imbalances resulting from Barro-Ricardo equivalence. In theoretical background we used keynesian conception, Barro – Ricardo equivalence and neoclassical theory of twins. Empirical part of our work is focused in choosen european countries, which differ from each other by exchange rate regime as floating exchange system and fixed exchange system. We used quarterly data like real interest rate, real effective exchange rates, monetary aggregate, gross national income, world gross domestic product and mainly change of government debt (fiscal imbalances) with deficit current account balance (external imbalances). Every data were seasonally adjusted in Eviews. By Granger test wasn't found the causality of twins.