Peculiarities of Interaction of Monetary and Fiscal Policy Under the Inflation Targeting Regime

Особенности взаимодействия денежно-кредитной и фискальной политики при режиме инфляционного таргетирования

Yury Perevyshin ()

Working Papers from Russian Presidential Academy of National Economy and Public Administration

Abstract: The paper deals with the basic aspects of the interaction of fiscal and monetary policy. Analysis of theoretical studies allows to distinguish two main aspects of interaction: the choice between output and inflation, and the problem of sustainability of public debt and inflation. Using a model with Markov regime-switching, we assessed interaction of fiscal and monetary policy in the Russian economy in the period from 2006 to 2015. The analysis showed that the ongoing uncoordinated monetary and fiscal policy can lead to inflation acceleration.

Pages: 52 pages
Date: 2017-03
New Economics Papers: this item is included in nep-cis, nep-dcm, nep-mac and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:rnp:wpaper:031711

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