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Wyświetlanie 1-2 z 2
Tytuł:
Relative effectiveness of monetary and fiscal policies on output growth in Turkey: an ARDL bounds test approach
Autorzy:
Özer, Mustafa
Karagöl, Veysel
Powiązania:
https://bibliotekanauki.pl/articles/22446544.pdf
Data publikacji:
2018
Wydawca:
Instytut Badań Gospodarczych
Tematy:
monetary policy
fiscal policy
ARDL
Turkey
Opis:
Research background: Effects of monetary and fiscal policy on output growth has been one of the major topics that economists have been investigating. Monetary and fiscal policies are tools for economists and policymakers to correctly direct the economy and facilitate the growth and development of the country. Accordingly, it is critically important for policy-makers in the area of economy to study the efficiency and the effectiveness of such policies. But, so far, there has been no generally accepted evidence suggesting the effectiveness of either the policy in Turkey or around the world. Instead, the dominance of either policy is subject to a change period to period and country to country. Purpose of the article: The purpose of this study is to analyze the growth effectiveness of fiscal and monetary policies and then determine which of these two policies is more powerful in promoting economic growth in Turkey over the period 1998 and 2016. Methods: To investigate the growth effectiveness of monetary and fiscal policies, we use some of the time series econometric techniques, such as ARDL Bounds testing, structural break unit root tests and Granger causality tests. Findings & Value added: Monetary policy variable is creating only short-run effects on growth; but, it's not causing any Granger causality on it. On the other hand, fiscal policy variable has a long-run significant effect and causing to growth. Thus, the fiscal policy seems to be more effective than monetary policy during examination period, implying the rethinking the implementation of both policies in Turkey. To the best of our knowledge, this study is the first attempt to investigate the relative effectiveness of economic policies on growth in Turkey in terms of both methods used and period chosen.
Źródło:
Equilibrium. Quarterly Journal of Economics and Economic Policy; 2018, 13, 3; 391-409
1689-765X
2353-3293
Pojawia się w:
Equilibrium. Quarterly Journal of Economics and Economic Policy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Trudności koordynacji polityki pieniężnej i polityki fiskalnej we współczesnej gospodarce
The Difficulties of Coordinating Monetary and Fiscal Policies in the Modern Economy
Autorzy:
Marszałek, Paweł
Powiązania:
https://bibliotekanauki.pl/articles/575667.pdf
Data publikacji:
2006-09-30
Wydawca:
Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
Tematy:
coordination
delay
monetary policy
fiscal policy
Opis:
The paper examines issues related to the coordination of fiscal and monetary policies. The author discusses the implications of delayed monetary and fiscal decisions and the difficulties involved in setting economic policy goals. He also describes the “one-armed policymaker” syndrome and the “zero bound problem.” The discussion indicates that proper coordination makes it possible to limit delays in economic policy. It also offsets the shortage of instruments at the disposal of policy makers and helps prevent deflation pressure, while increasing the efficiency of economic policy under “the zero bound problem.” All this increases the probability that monetary and fiscal policy makers will successfully attain their goals. The author concludes that the relationships between monetary and fiscal policies are much deeper and more complex than they seem to be, going beyond their traditional perception in terms of inflation and budget deficit financing. Moreover, considering the limitations of fiscal policy that reduce its flexibility, coordination efforts should primarily support the position of the central bank as a prime decision maker with considerable room for maneuver. Fiscal authorities should essentially limit themselves to supporting central bank activities and pursuing well-designed policies.
Źródło:
Gospodarka Narodowa. The Polish Journal of Economics; 2006, 210, 9; 57-75
2300-5238
Pojawia się w:
Gospodarka Narodowa. The Polish Journal of Economics
Dostawca treści:
Biblioteka Nauki
Artykuł
    Wyświetlanie 1-2 z 2

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