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Author
Stawska Joanna (University of Lodz, Poland)
Title
Dependencies between Variables from the Area of the Monetary and Fiscal Policy in the European Union Countries
Zależności pomiędzy zmiennymi z zakresu polityki monetarnej i fiskalnej w krajach Unii Europejskiej
Source
Comparative Economic Research, 2021, vol. 24, nr 1, s. 7-25, tab., bibliogr. 26 poz.
Keyword
Polityka fiskalna, Polityka pieniężna
Fiscal policy, Monetary policy
Note
JEL Classification: E00, E52, E62
summ., streszcz.
The article is part of a research project financed by the National Science Centre, Poland (grant no. UMO - 2017/26/D/HS4/00954).
Company
Unia Europejska (UE)
European Union (EU)
Abstract
Istota koordynacji polityki pieniężnej oraz fiskalnej (policy mix) opiera się na takiej kombinacji tych dwóch polityk gospodarczych, aby możliwe było osiągnięcie celów dotyczących zarówno stabilności cen, jak i wzrostu gospodarczego oraz zatrudnienia. Z kolei decyzje podejmowane w grze monetarno - fiskalnej władz gospodarczych w sposób istotny oddziałują na zmienne ekonomiczne w gospodarce. W literaturze ekonomii podkreśla się istotność koordynacji polityki monetarnej i fiskalnej co pozytywnie oddziałuje na stabilność gospodarki. Celem artykułu jest identyfikacja zależności pomiędzy zmiennymi z zakresu polityki fiskalnej i polityki monetarnej w istniejących warunkach ekonomicznych a następnie ich wpływ na gospodarkę w krajach UE. Do osiągnięcia postawionego celu wykorzystano następujące metody badawcze: przegląd literatury naukowej, prezentację danych statystycznych oraz statystyczne metody badawcze. Uzasadnieniem podjęcia danej tematyki jest zbadanie wpływu ostatniego kryzysu finansowo-gospodarczego na decyzje banków centralnych i rządów w krajach UE. Kryzys finansowy wpłynął na zmianę podejścia do prowadzenia polityki pieniężnej i fiskalnej. Zmieniające się warunki gospodarcze wymusiły podejmowanie wielu decyzji przez władze gospodarcze, które wpłynęły na interakcje pomiędzy bankiem centralnym a rządem w krajach UE. W wielu krajach UE w omawianym okresie zanotowano istotne współzależności pomiędzy zmiennymi z zakresu polityki pieniężnej i fiskalnej. (abstrakt oryginalny)

Research background: The core of coordinating a monetary and fiscal policy (policy mix) is based on combining both policies to achieve goals related to price stability, as well as economic growth and employment. In turn, the decisions of economic authorities in the monetary-fiscal game have a significant impact on economic variables in the economy. In the economic literature, the importance of monetary and fiscal policy coordination is emphasized as it has a positive effect on the stability of the economy.
Purpose of the article: The aim of the article is to identify the dependencies between variables in the scope of fiscal policy and monetary policy under existing economic conditions and then assess their impact on the economy in the EU countries.
Methods: To achieve this objective, the following research methods were used: a review of the scientific literature, a presentation of statistical data, and statistical research methods.
Findings & Value added: The rationale for adopting such issues is to examine the impact of the financial crisis on the decisions of central banks and governments in the EU. The financial crisis has affected a change in the approach to conducting monetary and fiscal policy. The changing economic conditions forced economic authorities to take many decisions that affected the interaction between the central bank and the governments in the EU Member States. In many EU countries in the discussed period, there were significant interdependencies between variables in both monetary and fiscal policy. (original abstract)
Accessibility
The Library of University of Economics in Katowice
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Bibliography
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ISSN
1508-2008
Language
eng
URI / DOI
http://dx.doi.org/10.18778/1508-2008.24.01
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