Frane Banić, Expert Associate at the Croatian National Bank, presented the paper Characteristics of Fiscal Policy in Croatia: Does It Depend on The Phase of the Business Cycle? that he co-authored with Vladimir Arčabić, Assistant Professor at the Faculty of Economics and Business in Zagreb and that was published in the journal Public Sector Economics. The paper presentation was jointly organised by the Croatian National Bank and the Institute of Public Finance. 

The main original contribution of the paper is the analysis of fiscal policy characteristics through phases of the business cycle, i.e. expansion and recession. The paper by Arčabić and Banić points to the sustainability of public debt and counter-cyclic behaviour of fiscal policy during expansions in Croatia. From the perspective of accession to the Eurozone, the results are positive and point to the stability of public finance.

The recording and the presentation (both in Croatian) are both available online.