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Statements

Subject Item
n2:RIV%2F61989100%3A27510%2F14%3A86090734%21RIV15-MSM-27510___
rdf:type
n4:Vysledek skos:Concept
dcterms:description
Coordination of or at least absence of conflict between monetary and fiscal policies are key to the successful implementation of economic policy. The article aims to use reaction functions to assess whether the monetary and fiscal policies in the countries of the Visegrad Group are in coordination or in conflict and which variables influence their decisions. The central bank is the representative of monetary policy, which has interest rates as its instrument, and the government as the representative of the fiscal policy which has change revenue or spending as a share of GDP as instrument. To obtain the results, multivariate regression analysis is used. The research period is based on quarterly observations from first quarter of 2000 to the fourth quarter of 2012. Stabilizing role of monetary policy and in some countries also partially stabilizing role of fiscal policy has been found. Another result was that in the case of the Czech Republic, Slovakia and Poland, monetary policy appears to play the dominant role, whereas fiscal policy plays dominant role in Hungary. In the case of Slovakia, some different results may be due to Slovakia’s participation in ERM II, which led to the monetary policy, in addition to maintaining price stability, also aiming to maintain a fixed exchange rate and the subsequent entry of Slovakia into the Eurozone and the de facto loss of autonomous monetary policy. Coordination of or at least absence of conflict between monetary and fiscal policies are key to the successful implementation of economic policy. The article aims to use reaction functions to assess whether the monetary and fiscal policies in the countries of the Visegrad Group are in coordination or in conflict and which variables influence their decisions. The central bank is the representative of monetary policy, which has interest rates as its instrument, and the government as the representative of the fiscal policy which has change revenue or spending as a share of GDP as instrument. To obtain the results, multivariate regression analysis is used. The research period is based on quarterly observations from first quarter of 2000 to the fourth quarter of 2012. Stabilizing role of monetary policy and in some countries also partially stabilizing role of fiscal policy has been found. Another result was that in the case of the Czech Republic, Slovakia and Poland, monetary policy appears to play the dominant role, whereas fiscal policy plays dominant role in Hungary. In the case of Slovakia, some different results may be due to Slovakia’s participation in ERM II, which led to the monetary policy, in addition to maintaining price stability, also aiming to maintain a fixed exchange rate and the subsequent entry of Slovakia into the Eurozone and the de facto loss of autonomous monetary policy.
dcterms:title
THE INTERACTION OF MONETARY AND FISCAL POLICY IN THE COUNTRIES OF THE VISEGRAD GROUP THE INTERACTION OF MONETARY AND FISCAL POLICY IN THE COUNTRIES OF THE VISEGRAD GROUP
skos:prefLabel
THE INTERACTION OF MONETARY AND FISCAL POLICY IN THE COUNTRIES OF THE VISEGRAD GROUP THE INTERACTION OF MONETARY AND FISCAL POLICY IN THE COUNTRIES OF THE VISEGRAD GROUP
skos:notation
RIV/61989100:27510/14:86090734!RIV15-MSM-27510___
n6:aktivita
n14:S
n6:aktivity
S
n6:cisloPeriodika
2
n6:dodaniDat
n9:2015
n6:domaciTvurceVysledku
n7:5463351 n7:8242844
n6:druhVysledku
n12:J
n6:duvernostUdaju
n10:S
n6:entitaPredkladatele
n11:predkladatel
n6:idSjednocenehoVysledku
22291
n6:idVysledku
RIV/61989100:27510/14:86090734
n6:jazykVysledku
n17:eng
n6:klicovaSlova
fiscal policy, interactions, monetary policy, policy coordination, policy objectives
n6:klicoveSlovo
n8:monetary%20policy n8:interactions n8:policy%20objectives n8:fiscal%20policy n8:policy%20coordination
n6:kodStatuVydavatele
CZ - Česká republika
n6:kontrolniKodProRIV
[C74AEA07725D]
n6:nazevZdroje
Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
n6:obor
n16:AH
n6:pocetDomacichTvurcuVysledku
2
n6:pocetTvurcuVysledku
2
n6:rokUplatneniVysledku
n9:2014
n6:svazekPeriodika
62
n6:tvurceVysledku
Janků, Jan Kappel, Stanislav
s:issn
1211-8516
s:numberOfPages
9
n13:organizacniJednotka
27510