THE LONG-RUN EFFECTS OF THE SHORT-RUN STABILIZATION POLICIES IN UKRAINE Cover Image

THE LONG-RUN EFFECTS OF THE SHORT-RUN STABILIZATION POLICIES IN UKRAINE
THE LONG-RUN EFFECTS OF THE SHORT-RUN STABILIZATION POLICIES IN UKRAINE

Author(s): Yuliana Yuriyivna Poliakova, Solomiya Sokurenko
Subject(s): Fiscal Politics / Budgeting
Published by: Szkoła Główna Gospodarstwa Wiejskiego w Warszawie
Keywords: Autoregressive Distributed Lag Model (ARDL); exchange rate; the fiscal-monetary mix; stabilization policy; Ukraine;

Summary/Abstract: Based on the quarterly data for the period of 2002-2021, short- and long-term output effects of stabilization policies in Ukraine are estimated. Our main results are as follows: (i) domestic currency appreciation is expansionary regardless of the time horizon, (ii) government expenditures are expansionary in the short run, with an opposite effect in the long run, (iii) monetary policy tightening is contractionary in the long run, (iv) liberalization of economy is expansionary in the long run. Also, about 80% of deviation from the long-run relationship is corrected in the short run.

  • Issue Year: XXIII/2022
  • Issue No: 4
  • Page Range: 99-108
  • Page Count: 10
  • Language: English
Toggle Accessibility Mode