Koordinace fiskální a monetární politiky Slovenska prizmatem teorie her
Monetary and Fiscal Policy Coordination in Slovakia: A Game Theory Approach

Summary/Abstract: The problem of monetary and fiscal policy coordination is discussed both in countries with independent economic policies and in countries with a single currency. The aim of this article is to discuss and empirically assess the interaction of monetary and fiscal policy in Slovakia from Q1/2000 to Q2/2013, identify significant macroeconomic variables influencing the decisions of main economic-policy authorities in the analysed country and make conclusions concerning the cooperation of monetary and fiscal policies using the game theory approach. In the article, regression analysis and ordinary least squares methods are used. According to the empirical results, the conflict between monetary and fiscal policy in Slovakia is identified. The stabilizing role of fiscal policy and problematic stabilizing role of monetary policy is confirmed. It contrasts with the other states of the Visegrad group.

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