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Структура механизма координации бюджетно-налоговой и денежно-кредитной политики // The Structure of the Coordination Mechanism of the Fiscal and Monetary Policy

Author

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  • Valery Lopatin A.

    (Financial University)

  • В. Лопатин А.

    (Финансовый университет)

Abstract

The mutual influence of the fiscal and monetary policy (FP and MP) tools significantly complicates the implementation of each policy because coordination of activities is required when applying relevant tools. An additional complication is introduced by the mismatch between the FP and MP implementation cycles due to different timing characteristics of the tools used. At the same time, the possibility and efficiency of coordinated actions largely depend on the mechanisms for the FP and MP coordination and implementation. The purpose of the paper is to reveal the most vulnerable structural elements of these mechanisms as well as the structure of interaction between the mechanisms within the FP and MP coordination process. The upgrading of the mechanisms will significantly uplevel the coordination in the implementation of the fiscal and monetary policies. Взаимное влияние, которое оказывают друг на друга инструменты бюджетно-налоговой и денежно-кредитной политики (БНП и ДКП), существенно усложняет реализацию каждой из политик, требуя проведения согласованных действий при применении соответствующих инструментов. Дополнительную сложность вносит несовпадение циклов реализации БНП и ДКП, обусловленное временными характеристиками используемых инструментов. При этом возможность и эффективность осуществления согласованных действий во многом зависят от механизмов реализации и координации БНП и ДКП. Целью настоящей статьи является выявление наиболее уязвимых элементов структуры указанных механизмов, а также структуры взаимодействия механизмов в рамках процесса координации БНП и ДКП, модернизация которых позволит существенно повысить уровень согласованности процессов реализации БНП и ДКП.

Suggested Citation

  • Valery Lopatin A. & В. Лопатин А., 2017. "Структура механизма координации бюджетно-налоговой и денежно-кредитной политики // The Structure of the Coordination Mechanism of the Fiscal and Monetary Policy," Экономика. Налоги. Право // Economics, taxes & law, ФГОБУ "Финансовый университет при Правительстве Российской Федерации" // Financial University under The Government of Russian Federation, vol. 10(3), pages 6-12.
  • Handle: RePEc:scn:econom:y:2017:i:3:p:6-12
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    References listed on IDEAS

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    1. International Monetary Fund, 1998. "Coordination of Monetary and Fiscal Policies," IMF Working Papers 1998/025, International Monetary Fund.
    2. Damir Šehović, 2013. "General Aspects of Monetary and Fiscal Policy Coordination," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 2(3), pages 5-27.
    3. repec:cbk:journl:v:2:y:2013:i:2:p:5-27 is not listed on IDEAS
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