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Usklacenost monetarne i fiskalne politike u RH

Author

Listed:
  • Miroslav Gregurek

    (Privredna banka Zagreb, Zagreb)

  • Neven Vidakovic

    (Privredna banka Zagreb, Zagreb)

Abstract

Rad nastoji povezati utjecaj monetarne i fiskalne politike u Hrvatskoj je pokazati koji im je mecusobni odnos. Hrvatska od stabilizacijskoga programa 1994. godine nije imala klasicne oscilacije poslovnih cikiusa pa provodenje monetarne i fiskalne politike nikada nije bilo izloženo pritisku koji sa sobom nosi recesija. Zbog recesije u 2009. godini pocelo se intenzivnije govoriti o provocenju monetarne i fiskalne politike jer se nametnulo pitanje hoce li ekonomske politike reagirati anticikticki, kao što je to uobicajeno. Pokazalo se da su monetarna i fiskalna politika reagirale izrazito prociktikcki, produbljujuci krizu.Rad pokazuje zašto je takva reakcija hrvatske ekonomije ocekivana i normalna. Fiskalna politika temeiji se na ouvanju viasti, a monetarna na stabilnosti teaja. U radu su razvijena dva modela. Model fiskalne politike s fokusom na ocuvanju vlasti i model monetarne politike s fokusom na ocuvanju stabilnosti tecaja. Model monetarne politike u radu ukazuje na konstrukcijsku grešku u monetarnoj potitici, koja je orjentirana iskljuivo na domace trište deviza, a ne na domace trište novca. Rad razvija model fiskalne potitike koja je prije svega orijentirana na dobivanje izbora, a ne nužno na dugorocnu optimalnu fiskalnu politiku.

Suggested Citation

  • Miroslav Gregurek & Neven Vidakovic, 2009. "Usklacenost monetarne i fiskalne politike u RH," Ekonomija Economics, Rifin d.o.o., vol. 16(2), pages 395-428.
    • Handle: RePEc:eff:ekoeco:v:16:y:2009:i:2:p:395-428
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    More about this item

    Keywords

    implementation of monetary and fiscal policy; dynamic programming; exchange rate;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems

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