EXCHANGE RATE COMMITMENT, NEGATIVE INTEREST RATES AND CURRENT MONETARY AND FISCAL POLICY MIX IN THE CZECH REPUBLIC

被引：0

作者：

Viktorova, Dana ^{[1
]}

Tomsik, Vladimir ^{[1
,2
]}

机构：

[1] NEWTON Coll As, Vaclavske Namesti 11, Prague 1, Czech Republic

[2] Czech Natl Bank, Na Prikope 28, Prague 1, Czech Republic

来源：

PROCEEDINGS OF THE 2ND INTERNATIONAL CONFERENCE EUROPEAN FISCAL DIALOG 2016: FISCAL AND MONETARY POLICY: BETWEEN SCYLLA AND CHARYBDIS | 2016年

关键词：

exchange rate commitment; economic growth; monetary and fiscal policy; interest rate; inflation; monetary irilemma;

D O I：

暂无

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The paper discusses interaction of fiscal and monetary policy and their roles promoting real economic growth and smoothing business cycle fluctuations. Using recent macroeconomic developments in advanced countries it shows that monetary policy is able effectively smooth business cycle fluctuations but it is a blunt tool promoting the long-term growth. Fiscal and structural policies are more efficient promoting the long-term growth. Furthermore, the paper discusses unconventional monetary policy measures as the CNB's exchange rate commitment and negative interest rates.

引用

页码：172 / 182

页数：11