Mutual Influence of Fiscal and Monetary Policy in the Context of Ensuring Macro-Financial Stability of the State

Nikiforov Petro (), Greshko Roman (), Marych Maksym (), Marusiak Nataliia (), Kharabara Violetta () and Gladchuk Olga ()
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Nikiforov Petro: Dr. Sc., Prof., Yuriy Fedkovych Chernivtsi National University, Chernivtsi, Ukraine
Greshko Roman: PhD, Assoc., Prof., Yuriy Fedkovych Chernivtsi National University, Chernivtsi, Ukraine
Marych Maksym: PhD, Assoc., Prof., Yuriy Fedkovych Chernivtsi National University, Chernivtsi, Ukraine
Marusiak Nataliia: PhD, Assoc., Prof., Yuriy Fedkovych Chernivtsi National University, Chernivtsi, Ukraine
Kharabara Violetta: PhD, Assoc., Prof., Yuriy Fedkovych Chernivtsi National University, Chernivtsi, Ukraine
Gladchuk Olga: PhD, Assoc., Prof., Yuriy Fedkovych Chernivtsi National University, Chernivtsi, Ukraine

Management Theory and Studies for Rural Business and Infrastructure Development, 2022, vol. 44, issue 4, 435-442

Abstract: The article is devoted to clarifying the mutual influence of fiscal and monetary policy in the context of ensuring macro-financial stability of the state. The main objectives of financial policy functioning are considered. The research used both general scientific methods and special approaches, namely analysis and synthesis, induction and deduction, scientific abstraction, scientific generalization, graphic visualization, the combination of which made it possible to achieve the conceptual integrity of this scientific work. Its main goal is determined, which is to ensure the highest possible level of welfare of the population through the most efficient distribution of GDP between types and spheres of economic activity, territories, strata and population groups. Among the directions of financial policy, two main ones are highlighted: fiscal and monetary. The essence of macro-financial stability of the state and its dependence on financial and monetary policy, as well as their coordination and mutual coherence, are considered, based on which a model of the mutual influence of fiscal and monetary policy in the context of ensuring macro-financial stability of the state is proposed.

Keywords: fiscal policy; monetary policy; fiscal instruments; financial relations; macro-financial stability; national economy; domestic economic system (search for similar items in EconPapers)
JEL-codes: E63 G32 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:mtrbid:v:44:y:2022:i:4:p:435-442:n:7

DOI: 10.15544/mts.2022.43

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