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Aspects Of Optimal Monetary And Fiscal Policies

Author

Listed:
  • Constantin ANGHELACHE

    (Bucharest University of Economic Studies/„Artifex" University of Bucharest)

  • Mihai Paunica

    (Bucharest University of Economic Studies)

  • Gyorgy BODO

    (Bucharest University of Economic Studies)

  • Maria MIREA

    (Bucharest University of Economic Studies)

Abstract

This article looks at a detailed approach to optimal government policies, given the implications for monetary policy and fiscal policy. The analysis has three distinct stages. In the first phase of analysis / modeling, we abstain from physical capital, in which case the economy tends towards a steady state, and optimal government policy can be analyzed in static (pure) state. In the second phase, we introduce the capital (variable) notion, thus reintroducing the dynamics into the analysis model. Finally, we will look at some aspects of the timeliness of optimal policies and the continuity of governmental policy (monetary and fiscal) decisions.

Suggested Citation

  • Constantin ANGHELACHE & Mihai Paunica & Gyorgy BODO & Maria MIREA, 2017. "Aspects Of Optimal Monetary And Fiscal Policies," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 65(5), pages 122-138, May.
    • Handle: RePEc:rsr:supplm:v:65:y:2017:i:5:p:122-138
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    References listed on IDEAS

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    More about this item

    Keywords

    monetary policies; tax policies; consumption; welfare; macroeconomic Balance;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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