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Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2019.1579661

The effects of macroeconomic policies under fixed exchange rates: A Bayesian VAR analysis

Dragan Tevdovski ; Saints Cyril and Methodius University, Skopje, Macedonia
Goran Petrevski ; Saints Cyril and Methodius University, Skopje, Macedonia
Jane Bogoev ; The World Bank, Washington, DC, USA

Puni tekst: engleski, pdf (3 MB) str. 2138-2160 preuzimanja: 54* citiraj
APA 6th Edition
Tevdovski, D., Petrevski, G. i Bogoev, J. (2019). The effects of macroeconomic policies under fixed exchange rates: A Bayesian VAR analysis. Economic research - Ekonomska istraživanja, 32 (1), 2138-2160. https://doi.org/10.1080/1331677X.2019.1579661
MLA 8th Edition
Tevdovski, Dragan, et al. "The effects of macroeconomic policies under fixed exchange rates: A Bayesian VAR analysis." Economic research - Ekonomska istraživanja, vol. 32, br. 1, 2019, str. 2138-2160. https://doi.org/10.1080/1331677X.2019.1579661. Citirano 08.04.2020.
Chicago 17th Edition
Tevdovski, Dragan, Goran Petrevski i Jane Bogoev. "The effects of macroeconomic policies under fixed exchange rates: A Bayesian VAR analysis." Economic research - Ekonomska istraživanja 32, br. 1 (2019): 2138-2160. https://doi.org/10.1080/1331677X.2019.1579661
Harvard
Tevdovski, D., Petrevski, G., i Bogoev, J. (2019). 'The effects of macroeconomic policies under fixed exchange rates: A Bayesian VAR analysis', Economic research - Ekonomska istraživanja, 32(1), str. 2138-2160. https://doi.org/10.1080/1331677X.2019.1579661
Vancouver
Tevdovski D, Petrevski G, Bogoev J. The effects of macroeconomic policies under fixed exchange rates: A Bayesian VAR analysis. Economic research - Ekonomska istraživanja [Internet]. 2019 [pristupljeno 08.04.2020.];32(1):2138-2160. https://doi.org/10.1080/1331677X.2019.1579661
IEEE
D. Tevdovski, G. Petrevski i J. Bogoev, "The effects of macroeconomic policies under fixed exchange rates: A Bayesian VAR analysis", Economic research - Ekonomska istraživanja, vol.32, br. 1, str. 2138-2160, 2019. [Online]. https://doi.org/10.1080/1331677X.2019.1579661

Sažetak
We analyse the effects of fiscal and monetary policies in Croatia and Macedonia estimated by a Bayesian vector autoregression (VAR). The main results of the study are as follows. Fiscal tightening leads to economic expansion in Macedonia and a decline in economic activity in Croatia. In both countries fiscal tightening leads to a decline in inflation and money market rates. Monetary tightening leads to output contraction and a decline in inflation in both countries. We find an opposite reaction of the fiscal authorities to a monetary shock, i.e., monetary contraction is accompanied by fiscal tightening in Croatia and by loose fiscal policy in Macedonia.

Ključne riječi
Fiscal policy; monetary policy; Bayesian VAR;

Hrčak ID: 229533

URI
https://hrcak.srce.hr/229533

Posjeta: 87 *