Modeling of interdependence between monetary and fiscal policy indicators

Pervin Akifivna Dadashova


Abstract


In the article the directions are defined and the strength of interdependences of the instruments of monetary and fiscal policy is evaluated. For this purpose the statistical analysis of main indicator dynamics of monetary and fiscal sectors condition is performed. On the basis of the empirical results about common trends and turning points of the indicators, an econometric macromodel of the system of simultaneous equations is built. On the basis of the evaluated model, conclusions about existence of feedback between monetary and fiscal policy actions are made. It has given the possibility to justify the need of their agreement with the aim of ensuring efficient state economic regulation. 


Keywords


monetary policy; fiscal policy; interdependence; econometrics; modeling; system of simultaneous equations

Full Text:

PDF

References


Bazhenova, Yu. V. (2009). Modelling of influence of monetary and fiscal policy on macroeconomic stability of state [Modelyuvannya vplyviv monetarnoyi ta fiskal'noyi polityk na makroekonomichnu stabil'nist' derzhavy]. Kyiv: Taras Shevchenko National university of Kyiv.

Zhak, O. P. (2005). Coordination of monetary and fiscal policy at the stage of development. [Koordynatsiya hroshovo-kredytnoyi ta byudzhetno-podatkovoyi polityky na stadiyi yikh rozrobky]. dspace.uabs.edu.ua. Retrieved November 10, 2014, from http://dspace.uabs.edu.ua/bitstream/123456789/1449/1/Jacques_1_2005.pdf.

Kozyuk, V. V. (n. d. ). Coordination of fiscal and monetary policy in the context of globalization: integration of old and new ideas. [Koordynatsiya fiskal'noyi i monetarnoyi polityky v umovakh hlobalizatsiyi: Intehratsiya starykh i novykh idey]. ief.org.ua. RetrievedNovember 10, 2014, from http://ief.org.ua/Arjiv_ET/Koziyk407.pdf.

Mishchenko, V. I., Zhak, O. P., Popov, D. S. (2005). Improving the coordination of monetary and fiscal policy: Informational analytic materials. [Vdoskonalennya koordynatsiyi hroshovo-kredytnoyi ta fiskal'noyi polityky: Informatsiyno-analitychni materialy]. National Bank of Ukraine. Center of Analytic Researches, 5, 1-96.

Rudan, V. (2005). Coordination of fiscal and monetary policy as a condition for the development of economy of Ukraine. [Koordynatsiya fiskal'noyi ta monetarnoyi polityky yak umova rozvytku ekonomiky Ukrayiny]. Bank activity, 6,69-84.

Shevchuk, V. O. (2010). Mutual influence of fiscal and monetary policy in Ukraine (1998-2009 years). [Vzayemnyy vplyv fiskal'noyi i monetarnoyi polityky v Ukrayini (1998-2009 rr. )]. Socio-economic problems of the modern period of Ukraine. The financial market of Ukraine: stabilization and European integration, 81, 15-23.

Worrell, D. (2000). Monetary and Fiscal Coordination in Small Open Economies. IMF Working Paper, 56, 1-28.

Laurens, B., de la Piedra, E. G. (1998). Coordination of Monatery amd Fiscal Policies. IMF Working Paper, 25, 1-32.

Site of the Ministry of finance of Ukraine. minfin.gov.ua. Retrieved November 10, 2014, from http://www.minfin.gov.ua.

Site of the National bank of Ukraine. bank.gov.ua. RetrievedNovember 10, 2014, from http://www.bank.gov.ua.

Site of the State Statistics Service of Ukraine. ukrstat.gov.ua. Retrieved November 10, 2014, from http://www.ukrstat.gov.ua.

Lukianenko, I. G. (2004). Systematic modeling of the indicators of budget system of Ukraine: Principles and instruments. [Systemne modelyuvannya pokaznykiv byudzhetnoyi systemy Ukrayiny: Pryntsypy ta instrument]. Kyiv: Publishing house of Kyiv-Mohyla Academy.

Lukianenko, I. G. (2013). Investigation of the influence of exchange rate channel of transmission mechanism on the Ukrainian economy real sector. [Doslidzhennya vplyvu obminnoho kanalu transmisiynoho mekhanizmu na real'nyy sektor ukrayins'koyi ekonomiky]. Economiccybernetics, 1-3 (79-81), 21-29.

Lukianenko, I. G., HorodnichenkoYu. O. (2002). Modern econometrical methods in finance. [Suchasni econometrychni metody u finansakh]. Kyiv: Litera LTD.


Article Metrics

Metrics Loading ...

Metrics powered by PLOS ALM

Refbacks

  • There are currently no refbacks.


Bookmark and Share


Copyright (c)



 

Articles are distributed under Creative Commons Attribution  International 4.0 (CC-BY-NC 4.0) 


Science Works Journal "Ekonomichnyy analiz"

ISSN 1993-0259 (Print)  ISSN 2219-4649 (Online) DOI: 10.35774/econa


© West Ukrainian National University

© «Ekonomichnyy analiz», 2007-2023