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THE IMPACT OF THE FINANCIAL CRISIS ON MONETARY AND FISCAL POLICY IN THE EURO AREA

dc.contributor.authorStawska, Joanna
dc.date.accessioned2015-02-13T09:16:53Z
dc.date.available2015-02-13T09:16:53Z
dc.date.issued2014-12
dc.identifier.isbn978-80-87952-07-8
dc.identifier.urihttp://hdl.handle.net/11089/6681
dc.descriptionCoordnation of both policies allows to avoid crisis situations having destibilizing effect on economy. Cooperation between central bank and government is quite difficult due to preclusive aims of fiscal and monetary policies. Financial crisis in 2008 had a profound impact on many changes in governance of monetary and fiscal policies in the euro area. It revealed significant economic decline and problems related to public finances (increase in debt obligations) in the euro area. In reaction to the crisis in the euro area, the monetary authorities introduced many changes. An increase in expansionary monetary policy speaks volumes about an attempt to utilize the transmission channel of the monetary policy to improve economy. This paper focuses on highliting the changes ocurred in monetary policy and fiscal policies that were the consequence of the financial crisis in the euro area. The article verifies the hypothesis that the increased level of the coordination of monetary policy and fiscal polices caused by the financial crisis contributed to deepening the crisis in its early stage in the euro area (in the period of 2008-2009). To verify the hypothesis the following research methods were used: review of scientific literature, statistical research methods and graphic presentation of economic events.pl_PL
dc.description.abstractThe financial crisis started in 2008 has contributed to many changes in the conduct of monetary and fiscal policy in the euro area. In the euro area significant decline in economic growth and problems of public finance (debt growth countries) is noticeable as a result of the crisis The aim of this article is to highlight the changes in monetary and fiscal policy in the euro area, which emerged in the aftermath of the crisis. The article verifies the hypothesis that during the financial crisis the coordination of monetary policy and fiscal policy weakened the deepening of the crisis in its early stages in both the euro area.pl_PL
dc.language.isoenpl_PL
dc.publisherHradec Kralove: MAGNANIMITASpl_PL
dc.relation.ispartofseriesInternational Masaryk Conference for Ph.D. Students and Young Researchers 2014;Vol. V. 2014
dc.rightsUznanie autorstwa 3.0 Polska*
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/pl/*
dc.subjectpolicy mixpl_PL
dc.subjectmonetary policypl_PL
dc.subjectfiscal policypl_PL
dc.subjectfinancial crisispl_PL
dc.subjectpolityka pieniężnapl_PL
dc.subjectpolityka fiskalnapl_PL
dc.subjectkryzys finansowypl_PL
dc.titleTHE IMPACT OF THE FINANCIAL CRISIS ON MONETARY AND FISCAL POLICY IN THE EURO AREApl_PL
dc.typeBook chapterpl_PL
dc.page.number945 - 953pl_PL
dc.contributor.authorAffiliationCentre of Central Banking and Financial Intermediation, Institute of Finance, Faculty of Economics and Sociology, University of Lodzpl_PL
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dc.contributor.authorEmailjoanna.stawska@uni.lodz.plpl_PL
dc.dissertation.director


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