EERC news
May 27, 2016
The 40th Anniversary Research Workshop was held in Kyiv School of Economics, Kyiv May 21 - 22, 2016.
December 15, 2015
Your idea could be the next winner of the Global Development Awards Competition 2016. Every year, GDN awards up to $US 90,000 worth of grants to research proposals and innovative development projects as part of the Global Development Awards Competition. The deadline for submitting the proposals is 15 January, 2016.
December 02, 2015
Cеминар будет проводиться в КШЕ в Киеве 117-18 декабря 2015 года.
August 05, 2015
The unique KSE MBA program efficiently combines a comprehensive approach to a real-life case learning, analytical methods for decision-making and is specifically designed to educate a new generation of business leaders on how to make the most out of opportunities the global markets offer. KSE MBA combines high academic standards of top EU and US business schools with practical real-life cases from top employers of Ukraine which constitute an essential part of the program curriculum.
Working paper info
Fiscal Policy Rection and Sustainability of Fiscal Policy in Ukraine
Vdovychenko Artem
C. Macro, financial markets and open macroeconomy
Policy brief

This article analyzes fiscal policy reaction function with switching regimes for Ukraine. We demonstrate that the fiscal policy reaction function in Ukraine has a nonlinear nature. The analysis revealed that the fiscal policy of Ukraine has been in a passive regime for a long time and a switch to this mode took place in late 2006 with the beginning of rapid economic growth. By means of the LSTR models, it is shown that at high levels of debt and the GDP gap the fiscal policy switches to an active regime. However, such switching is rare and short, and therefore does not have an impact on the overall picture. We also found an asymmetry in the response of fiscal policy on the GDP gap depending on the phase of the economic cycle. In our opinion, this asymmetry is the main obstacle to switching the fiscal policy in active regime.

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