1. Fiscal multiplier and the role of income and wealth inequalityMarko Senekovič, Jani Bekő, 2025, izvirni znanstveni članek Opis: There is a lack of research concerning the influence of economic inequality on the size of fiscal multipliers. To address this, we apply a VAR methodological framework to assess the magnitude of fiscal multipliers for 47 economies, using a new quarterly dataset spanning the period from 1995 to 2021. We then gauge the impact of the battery of income and wealth inequality measures on the size of government consumption multipliers. To ensure the robustness of the results, a yearly panel data sample was also tested. The key findings of our empirical exercise can be outlined as follows. First, the estimated government consumption multipliers exhibit a generally positive trajectory throughout the forecast horizon in approximately 66% of the countries analysed, while in 19% of the sample, they remain largely negative, and in the remaining 15% of cases, they display a mixed pattern, being positive only during certain periods. Second, in 53% of the countries examined, the fiscal multiplier exceeds the threshold of one at least once during the forecast period, suggesting a greater output effect of fiscal expansion in these countries. Third, the more pronounced the income and wealth inequality in a country, the higher the value of the fiscal multiplier. This research outcome supports the proposition that higher economic inequality, especially income inequality, will generate greater government spending effects.
Ključne besede: fiscal policy, fiscal multiplier, economic inequality, panel VAR
Objavljeno v DKUM: 12.06.2025; Ogledov: 0; Prenosov: 65
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2. Countries' structural characteristics and the magnitude of fiscal shockMarko Senekovič, 2025, izvirni znanstveni članek Opis: The transmission channels of stabilizing fiscal policy remain partially unexplored, which presents a challenge for the effective management of economic policy. Using a broad dataset and vector autoregression methodology, this paper examines the relationship between selected structural characteristics of economies and the magnitude of fiscal multipliers. The results indicate that fiscal multipliers tend to be smaller in more developed economies, in business-friendly environments, and in EU and EMU member states. Additionally, findings on public and private debt, as well as savings levels, suggest that fiscal multipliers are higher in countries where a larger share of economic agents faces liquidity constraints. Consequently, increased public spending, driven by households' higher marginal propensity to consume, produces a stronger impact on output through the multiplier effect. Our results provide a foundation for fiscal policymakers to design appropriate measures tailored to the specific characteristics of individual economies, aiming to enhance the effectiveness of stabilization policies. Consequently, fiscal stimulus can achieve a greater impact while ensuring the efficient allocation of taxpayer resources.
Ključne besede: fiscal multiplier, structural determinants, wealth inequality, VAR
Objavljeno v DKUM: 28.05.2025; Ogledov: 0; Prenosov: 1
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3. Economic inequality and the size of government expenditure shocks : an empirical exerciseMarko Senekovič, 2024, izvirni znanstveni članek Opis: Empirical literature explains the heterogeneity of fiscal multiplier
estimates through the analysis of various cyclical and structural
determinants of economies, with economic inequality, as one of the key
structural characteristics, receiving relatively little attention so far. In
this study, using a wide sample of countries and applying the vector
autoregression methodology, we first estimated fiscal multipliers and
the impact of fiscal stimuli on the dynamics of the price level. The
findings indicate that the estimated fiscal multipliers are mostly
positive, and fiscal stimuli tend to produce an inflationary effect.
Subsequently, we examined the variability in the size of fiscal
multipliers in relation to various indicators of income and wealth
inequality. The key findings of this study reveal that as economic
inequality increases, particularly in the context of income disparities,
the size of fiscal multipliers also rises. This insight is particularly
important for policymakers in designing appropriate fiscal measures in
an evolving macroeconomic environment.
Ključne besede: fiscal multiplier, income inequality, wealth inequality, VAR
Objavljeno v DKUM: 28.05.2025; Ogledov: 0; Prenosov: 0
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4. Impact of social networks on the labor market inequalities and school-to-work transitionsMahmut Özer, Matjaž Perc, 2021, izvirni znanstveni članek Opis: Countries invest in education systems in order to increase the quality of their human capital. In this context, it is seen that especially after the expansion of the higher education systems, countries try to increase higher education graduation rates in order to improve the quality of human resources in the labor market. The ultimate goal of these efforts is to facilitate the transitions from school-to-work, and to increase social welfare by meeting the human resources needs of the labor market. The facilitation of school-to-work transitions has a direct impact on youth unemployment. School-to-work transitions are influenced not only by the quality of education from primary to higher education but also by the dynamics of the labor market. Social network analysis can provide important insights into this dynamics, and in doing so reveal that there are indeed many factors that play a key role in determining who gets a job and why, including, first and foremost, social contacts. An analysis of job search channels reveals that partners, friends, and relatives are those social contacts that are most decisive for employment outcomes. Research reveals that employers use social-contact-based reference channels much more frequently than formal channels for recruitment. Thus, employers frequently use such reference channels in recruitment. It has also been shown that the use of social-contact channels reduces employers' costs of finding suitable employees and increases productivity since employees hired through these channels also stay longer in their firms. We here explore the full potential of social network analysis to better our understanding of school-to-work transitions, to reveal in no uncertain terms the importance of social contacts, and to show how these insights can be leveraged to level the labor market for all involved. An important take-home message is that the labor market dynamics is strongly affected by the Matthew effect, such that the inequalities and the gaps between opportunities only grow and widen as the underlying social networks evolve. It is therefore important to mitigate these effects well before school-to-work transitions come into play, namely during the education. In particular, we assert that minimizing the inequalities during education should effectively mitigate the uneven impact of social networks on school-to-work transitions.
Ključne besede: employment, higher education, inequality, labor market, Matthew effect, social network
Objavljeno v DKUM: 04.10.2024; Ogledov: 0; Prenosov: 7
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5. Past, present, and intended digitalization around the world : leading, catching up, forging ahead, and falling behindMahsa Samsami, Thomas Schøtt, 2022, izvirni znanstveni članek Opis: Businesses around the world are rapidly adopting digital technologies.
Adoption, though, is not even, but it varies over time and differs from
society to society, depending on resources in the ecosystem. This study
addresses how past, present, and future digitalization is developing globally
and, in each society, depending on its resources. A survey of businesses in
47 countries, conducted by the Global Entrepreneurship Monitor in 2021,
provides national-level measures of digital technology adoption before
and during the pandemic and the intention for adoption in the near future.
Adoption of digital technology is found to vary significantly across both time
and place. Before the pandemic, adoption was concentrated in the wealthiest
societies. The pandemic was an external enabler, pushing less digitalized
societies to catch up, independent of national economies, thus entailing
some convergence. The early pandemic has been followed by intentions
to digitalize, which differ widely, entailing some divergence. Intentions are
strong in some societies that are forging ahead, but they are weaker in some
less-digitalized and low-income societies that may be falling behind. The
findings contribute to understanding digitalization as a global phenomenon
and the pandemic as an external enabler that has promoted catching up
and convergence in digitalization. Still, recovery is uneven and entailing
divergence, as some societies are forging ahead while others are falling
behind.
Ključne besede: digitalization, adoption of technology, external enabler, globalization, inequality, convergence, divergence
Objavljeno v DKUM: 19.06.2023; Ogledov: 499; Prenosov: 52
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6. Tax policy and income inequality in the Visegrad countriesAnna Moździerz, 2015, izvirni znanstveni članek Opis: The financialisation of economies is believed to be the primary cause of the increase in income inequality in the world, occurring on a scale unseen for more than 30 years. One can hypothesise that it is the state that is responsible for the widening inequality, as the state has not sufficiently used the redistributive function of taxation. The purpose of this paper is to study the impact of tax policy on income inequality in Poland, the Czech Republic, Slovakia and Hungary. These so-called Visegrad countries have, in the last several years, carried out some controversial experiments with tax policy, specifically in terms of the flattening of tax progressivity or its replacement with a flat tax, which led to the weakening of the income adjustment mechanism. The imbalance between income tax and consumption tax has contributed to perpetuating income inequality. The verification of tax systems carried out during the recent financial crisis has forced the countries included in this research to implement tax reforms. The introduced changes caused various fiscal and redistributive effects. Analyses show that the changes in income taxation and an increase in the consumption tax rate had the most negative impact on the income and asset situation in Hungary.
Ključne besede: tax, tax policy, income inequality, Gini coefficient
Objavljeno v DKUM: 14.11.2017; Ogledov: 1606; Prenosov: 407
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7. Does strong heterogeneity promote cooperation by group interactions?Matjaž Perc, 2011, izvirni znanstveni članek Opis: Previous research has highlighted the importance of strong heterogeneity for the successful evolution of cooperation in games governed by pairwise interactions. Here we determine to what extent this is true for games governed by group interactions. We therefore study the evolution of cooperation in the public goods game on the square lattice, the triangular lattice, and the random regular graph, whereby the payoffs are distributed either uniformly or exponentially amongst the players by assigning to them individual scaling factors that determine the share of the public good they will receive. We find that uniformly distributed public goods are more successful in maintaining high levels of cooperation than exponentially distributed public goods. This is not in agreement with previous results on games governed by pairwise interactions, indicating that group interactions may be less susceptible to the promotion of cooperation by means of strong heterogeneity than originally assumed, and that the role of strongly heterogeneous states should be reexamined for other types of games.
Ključne besede: social dilemmas, cooperation, public goods, inequality, social diversity
Objavljeno v DKUM: 30.06.2017; Ogledov: 1464; Prenosov: 433
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8. Buşe, Constantin; Jitiau, Oprea: A new theorem on exponential stability of periodic evolution families on Banach spaces. - Electron. J. Differ. Equ. 2003, Paper no. 14, 10 p., electronic only (2003). [ISSN 1072-6691]Miklavž Mastinšek, 2004, recenzija, prikaz knjige, kritika Ključne besede: matematika, analiza, skoraj periodične funkcije, eksponentna stabilnost, integralska neenakost, diferencialna neenakost, Banachov prostor, mathematics, analysis, almost periodic functions, exponential stability, periodic evolution families of operators, integral inequality, differential inequality on Banach spaces
Objavljeno v DKUM: 10.07.2015; Ogledov: 1338; Prenosov: 36
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