Metadata language
Decision Interactions of the monetary and fiscal authorites in the choice of Policy Mix.
Subtitle:Raport Badawczy = Research Report ; RB/5/2009
Creator: Publisher:Instytut Badań Systemowych. Polska Akademia Nauk ; Systems Research Institute. Polish Academy of Sciences
Place of publishing: Date issued/created: Description:18 stron ; 21 cm ; Bibliografia s. 17-18
Subject and Keywords:Policy-mix ; Pareto optimality ; Stany równowagi ; Pareto-optymalność ; Gry fiskalno-monetarne ; Monetary-fiscal games ; Equilibrium states
Abstract:The paper presents an analysis of the states of equilibrium and Pareto-optimality of the solutions in the monetary-fiscal games between the fiscal and monetary authorities each having either two or three qualitatively different strategies: expansive, neutral and restrictive. Two sets of assumptions about the influence, exerted by the instruments of the monetary policy (real interest rate) and of the fiscal policy (budgetary deficit related to the GDP) on the state of economy (rate of economic growth and inflation) are considered. The results obtained indicate that, other situations may also occur, where the independent decisions of the central bank and the government do not necessarily lead to the choice of a Pareto non-optimal solution.
Relation:Raport Badawczy = Research Report
Resource type: Detailed Resource Type: Source: Language: Language of abstract: Rights:Licencja Creative Commons Uznanie autorstwa 4.0
Terms of use:Zasób chroniony prawem autorskim. [CC BY 4.0 Międzynarodowe] Korzystanie dozwolone zgodnie z licencją Creative Commons Uznanie autorstwa 4.0, której pełne postanowienia dostępne są pod adresem: ; -
Digitizing institution:Instytut Badań Systemowych Polskiej Akademii Nauk
Original in:Biblioteka Instytutu Badań Systemowych PAN
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