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Mix monetární a fiskální politiky v České republice: empirická verifikace modelu efektivní tržní klasifikace
[Monetary and fiscal policy mix in the Czech Republic: empirical verification of the principle of effective market classification]

Author

Listed:
  • Martin Mandel
  • Vladimír Tomšík

Abstract

Monetary and fiscal policy should be paired with the economic objectives on which they have the most influence. The authors have transformed this traditional Mundell's principle of effective market classification into the conditions of the Czech economy - a small open economy with controlled floating exchange rate system and high inflow of foreign direct investment. An empirical verification confirmed the requirement of the modification of this principle in the CR. An application of the modified model in the CR resulted in the following recommendation for the Czech economic policy mix: monetary policy should control the external balance and fiscal policy the internal balance.

Suggested Citation

  • Martin Mandel & Vladimír Tomšík, 2001. "Mix monetární a fiskální politiky v České republice: empirická verifikace modelu efektivní tržní klasifikace [Monetary and fiscal policy mix in the Czech Republic: empirical verification of the pri," Politická ekonomie, Prague University of Economics and Business, vol. 2001(2).
    • Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:2:id:205
    DOI: 10.18267/j.polek.205
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    Citations

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    Cited by:

    1. Ilya Bolotov & Radek Čajka & Kateřina Gajdušková, 2013. "The Economic Balance of the Czech Republic and Slovakia During the Economic Crisis," Prague Economic Papers, Prague University of Economics and Business, vol. 2013(4), pages 504-523.
    2. Jan Janků & Stanislav Kappel & Zuzana Kučerová, 2014. "Interakce monetární a fiskální politiky zemí visegradské skupiny [The Interaction of Monetary and Fiscal Policy in the Visegrad Group Countries]," Politická ekonomie, Prague University of Economics and Business, vol. 2014(4), pages 459-479.
    3. František Obešlo, 2017. "Export and Import Functions (Empirical Analysis on the Example of the Czech Republic)," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2017(3), pages 5-15.

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