ANALIZA GRY MONETARNO - FISKALNEJ NA PRZYKŁADZIE GOSPODARKI POLSKIEJ
ANALYSIS OF THE MONETARY - FISCAL GAME IN THE CASE OF POLAND
Author(s): Lech Kruś, Irena Woroniecka-LeciejewiczSubject(s): Economy, Economic policy, Methodology and research technology, Evaluation research, ICT Information and Communications Technologies
Published by: Szkoła Główna Gospodarstwa Wiejskiego w Warszawie
Keywords: fiscal monetary game; macroeconomic modeling; Nash equilibrium; Pareto optimality;
Summary/Abstract: Analysis of the policy mix is presented using a noncooperative game and a macroeconomic model formulated on the basis of the New Neoclassical Synthesis concept. The game describes interactions of the fiscal and monetary authorities. The model has been estimated for the Poland in 2000–2014. Simulations have been made using the model and the constructed computer based system calculating payoffs of the game. The fiscal and monetary policies alternative to the historical ones are shown and analyzed. The best response strategies and the Nash equilibria are derived and discussed.
Journal: Metody Ilościowe w Badaniach Ekonomicznych
- Issue Year: XVII/2016
- Issue No: 2
- Page Range: 54-64
- Page Count: 11
- Language: Polish