 The Coordination of the Monetary and Fiscal Policies in Romania and their Impact on the Economic CycleRomanian Journal of Economics, 2015, vol. 40, issue 1(49), 184-197 Abstract: A rate of economic growth close to potential while ensuring a low inflation rate is the primary objective of macroeconomic policies. The monetary and fiscal policies are widely used in Romania and in the European Union to achieve this goal, as modifying their stance is seen as a way to reduce the amplitude of the business cycle fluctuations. This research aims to assess how the monetary and fiscal policies have managed to smooth the business cycle fluctuations in Romania during 2004-2014 and also their degree of coordination and to analyze the restrictions applying to these policies given the rule-based framework within they operate. The results show a lack of coordination of the fiscal and monetary policies, the former permanent acting pro cyclically in the analyzed period, while the latter acting only partly counter cyclically, being mainly concerned with achieving price stability. Keywords: fiscal policy; monetary policy; coordination; countercyclical policies (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ine:journl:v:40:y:2015:i:49:p:184-197 Access Statistics for this article Romanian Journal of Economics is currently edited by Institute of National Economy More articles in Romanian Journal of Economics from Institute of National Economy Contact information at EDIRC. |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.