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State's countercyclic fiscal and monetary policy in the field of macroeconomic regulation

Author

Listed:
  • Sandoyan Edward M.

    (Russian-Armenian University)

  • Egiazaryan Armen B.

    (Russian-Armenian University)

  • Voskanyan Mariam H.

    (Russian-Armenian University)

  • Galstyan Ani H.

    («Grigoryan and Partners LLC»)

  • Grigoryan Гагик Аматуниевич

    (Russian-Armenian University)

Abstract

The problem of countercyclical fiscal and monetary regulation has become very urgent in the last two decades. This article is devoted to the analysis and assessment of countercyclical fiscal and monetary policy from the point of view of the fundamental basis, as well as its practical application. The subject of this research is countercyclical fiscal and monetary policy from the point of view of its effectiveness in the context of the economic crisis. The methodological basis of the study is an overview of theoretical and practical models of countercyclical fiscal and monetary policy known in the scientific literature. The key objective of the study was to attempt to identify and evaluate countercyclical fiscal and monetary policies from the point of view of theory and practice. The result of the study was the conclusion that in a crisis, countercyclical fiscal and monetary policy leads to ambiguous results, but on the whole, it is the most optimal for leveling the consequences of the crisis.

Suggested Citation

  • Sandoyan Edward M. & Egiazaryan Armen B. & Voskanyan Mariam H. & Galstyan Ani H. & Grigoryan Гагик Аматуниевич, 2021. "State's countercyclic fiscal and monetary policy in the field of macroeconomic regulation," Research result. Economic Research, Belgorod State University, vol. 7(3), pages 14-40.
    • Handle: RePEc:eul:rrecon:v:7:y:2021:i:3:p:14-40
    DOI: 10.18413/2409-1634-2021-7-3-0-2
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