Fiscal and monetary policy risk mix and its effectiveness

被引：0
|
作者：
Wang, Xue-Biao [1 ]
Wang, Xin-Cui [1 ]
Zhou, Sheng-Bao [1 ]
Jiang, Feng-Li [1 ]
机构：
[1] School of Mathematics and Quantitative Economics, Dongbei University of Finance and Economics, Dalian 116025, China
来源：
Xitong Gongcheng Lilun yu Shijian/System Engineering Theory and Practice | 2014年 / 34卷 / 01期
关键词：
Economic condition - Fiscal policies - Monetary policies - Policy effects - Research results - Stochastic dynamics - Stochastic growth - Sustainable growth;
D O I：
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学科分类号：
摘要：
This paper numerically analyzed the effectiveness of monetary and fiscal policies, and their associated risks on growth rate, inflation rate under the different monetary and fiscal policy risk mix respectively by using equilibrium in a stochastic dynamic optimal model. The research results show that the effect of different monetary fiscal policy risk mix are different in different economic conditions. The policy effect of fiscal policy on output is more significant than the effect of monetary policy, and the policy effect of monetary policy on inflation expectation is more significant than the effect of fiscal policy. Monetary and fiscal policies are interactive and complementary. Monetary policy and fiscal policy mix can remain the economy stable and sustainable growth.
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页码：45 / 53
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