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Author
Paluszak Grzegorz
Title
Koordynacja polityki pieniężnej i polityki fiskalnej jako podstawa wzrostu gospodarczego w Unii Europejskiej
The Monetary and Fiscal Policy Co-ordination - a Key Role for the Economic Growth in European Union
Source
Nierówności Społeczne a Wzrost Gospodarczy, 2003, z. nr 2, s. 65-71, bibliogr. 8 poz.
Keyword
Polityka pieniężna, Polityka finansowa państwa, Wzrost gospodarczy, Rynek pracy, Prawo, Koordynacja polityki, Wstrząs podażowy
Monetary policy, State financial policy, Economic growth, Labour market, Law, Policy coordination, Supply shock
Note
summ.
Company
Unia Europejska (UE), Europejski Bank Centralny (EBC)
European Union (EU), European Central Bank (ECB)
Abstract
W artykule przedstawiono najważniejsze uwarunkowania uwzględniane w koordynacji polityki pieniężnej i fiskalnej w Unii Europejskiej, takie jak: koordynacja narodowej polityki fiskalnej, rynek pracy, struktura finansowa i zróżnicowanie prawa w państwach członkowskich. Omówiono również znaczenie koordynacji polityki pieniężnej i fiskalnej dla osiągnięcia wzrostu gospodarczego w Unii Europejskiej.

This paper investigates the basic circumstances of monetary and fiscal policy coordination necessary for economic growth in European Union, namely: national fiscal policy coordination, labour market, financial structure and different regulations in the member states. The European Central Bank bears the responsibility for the monetary policy and the national governments bear the responsibility for fiscal policies. The two pillars of monetary policy strategy allow the European Central Rank to examine not only the monetary inflation origins, but also to monitor and analyse a wide range of other economic and financial indicators, particularly the indicators of the labour market and fiscal policy. This monetary policy strategy is the best contribution to economic growth. Despite of this, there are the different structures of national economics, which contribute to asymmetric shocks These shocks are harmful to economic growth. There are various possible responses to an asymmetric shock. There may be market or policy responses, each in turn taking the form of a price or non prices adjustment. Basically, the extent of market responses depends on the price adjustment, i.e. labour market flexibility. The supply shocks should be dealt with via structural reforms, particularly reforms of labour markets. The co-ordination of monetary and fiscal policies will lead to labour market reforms, which accelerate economic growth. (original abstract)
Accessibility
The Main Library of the Cracow University of Economics
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
The Main Library of the Wroclaw University of Economics
Bibliography
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  1. Buti M., Roeger W., Jan In't Veld, Stabilizing Output and Inflation: Policy Conflicts and Cooperation under a Stability Pact, Journal of Common Market Studies, vol. 39, nr5, 2001.
  2. Euro-area outlook is unsettled, but potential for renewed grow remains, IMF Survey, vol. 31, nr 14,2002.
  3. Gatti D., Wijnbergen Ch. van, Co-ordinating fiscal authorities in the euro-zone: a key role for the ECB, Oxford Economic Papers, vol. 54, nr 1, 2002.
  4. Large asymmetric shocks could pose challenges in EMU's transition process, IMF Survey, vol. 28, nr 17, 1999.
  5. Lawler P., Monetary policy, central bank objectives, and social welfare with strategic setting, Oxford Economic Papers, vol. 53, nr 1, 2001.
  6. Mihov I., Monetary policy implementation and transmission in the European Monetary Union, Economic Policy, A European Forum, vol. 33, October 2001.
  7. Stark J.. Die langfristigen Perspektiven des Euro, Deutsche Bundesbank, Auszüge aus Presseartikeln, nr 54, 2001.
  8. Tamborini R., Living in EMU: Prices, Interest Rates and the Adjustment of Payments in a Monetary Union, Journal of Common Market Studies, vol. 39, nr 1, March 2001.
Cited by
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ISSN
1898-5084
Language
pol
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