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This paper examines the impact of nominal and real rigidities in the economy on the effects of fiscal policy. The study confirmed the hypothesis that both nominal and real rigidities enhance the impact of fiscal policy on the Polish economy. In the case of nominal price rigidity it was found that the impact of government spending on GDP depends on the conduct of monetary policy. On the other hand, under conditions of wage rigidity, the strength of fiscal multipliers depends on the slope of the labour supply curve. The study also examined two types of real rigidities - lack of access to the credit market, and consumer habits. Analyses show that the above rigidities result primarily in a strong positive relationship between government spending and the level of consumption

This paper examines the impact of nominal and real rigidities in the economy on the effects of fiscal policy. The study confirmed the hypothesis that both nominal and real rigidities enhance the impact of fiscal policy on the Polish economy. In the case of nominal price rigidity it was found that the impact of government spending on GDP depends on the conduct of monetary policy. On the other hand, under conditions of wage rigidity, the strength of fiscal multipliers depends on the slope of the labour supply curve. The study also examined two types of real rigidities - lack of access to the credit market, and consumer habits. Analyses show that the above rigidities result primarily in a strong positive relationship between government spending and the level of consumption. ; W pracy zbadano wpływ występowania sztywności nominalnych i realnych w gospodarce na charakter oddziaływania polityki fiskalnej. Potwierdzono hipotezę, że zarówno sztywności nominalne, jak i realne zwiększają siłę wpływu polityki fiskalnej na gospodarkę polską. W przypadku sztywności nominalnej cen uzyskano, że siła oddziaływania wydatków rządowych na PKB uzależniona jest od prowadzonej polityki pieniężnej. Natomiast w warunkach sztywności płac wysokość mnożników fiskalnych zależy od nachylenia krzywej podaży pracy. W pracy zbadano również dwa rodzaje sztywności realnych – brak dostępu do rynku kredytowego i występowanie przyzwyczajeń konsumpcyjnych. Z przeprowadzonych analiz wynika, że ww. sztywności skutkują przede wszystkim silną dodatnią zależnością pomiędzy wydatkami rządowymi a poziomem konsumpcji.

The article analyses the demand and supply effects of temporary increase in government spending on the labour market. The analysis was performed using a model of the new Keynesian economics. Estimates of model parameters were determined by the Bayes method. The simulations show that government spending greater impact on the labour market through demand effect than the supply side. Demand effect is stronger for both employment and wages.

The aim of the article is to analyse the impact of expansionary fiscal policy, involving an overall increase in government expenditure, on the condition of the natural environment and, more specifically, on air pollution. The analysis is based on the Real Business Cycle (RBC) model. The results of the simulations indicate that expansionary fiscal policy, contributing to GDP growth, also results in deterioration of air quality. The analysis also shows that in the longer term, the main mechanism by which this policy affects the level of air pollution emission is the accumulation of public capital. Therefore, in order to minimise the negative effects of fiscal expansion on the environment, it is particularly important to invest in pro-ecological public investments.

The aim of the article is to compare the effects of public investment and public consumption in the Indian economy. This issue is particularly relevant in the context of the unprecedented increase in public investment in India, which is becoming one of the biggest economies globally. The empirical research is based on a New Keynesian model. The novelty of the applied methodology lies both in the inclusion of public capital as a factor of production, and the partial substitution between public and private consumption in the model. The results show that government gross capital formation in the short run is a slightly more effective method of stimulating the Indian economy than government final consumption expenditure. However, the biggest differences between the effects of public investment and public consumption are evident in the long term. The impact of public consumption on GDP fades out quickly, while public investment raises the level of output for a long period. Government gross capital formation also affects employment and consumption more strongly than government final consumption expenditure does. Thus, the main implication of the study is to recommend increasing public investment in emerging markets, to boost their economies.