Features of Interactions between Fiscal and Monetary Policies in DSGE Models (Case of the Russian Economy)

Student: Zhiliaeva Kristina

Faculty: Faculty of World Economy and International Affairs

Educational Programme: World Economy (Bachelor)

Year of Graduation: 2024

The study is devoted to the problem of fiscal-monetary policy coordination. The paper considers theoretical approaches to the modelling of fiscal and monetary policy interactions in dynamic stochastic general equilibrium models (DSGE-models) which are widely used among regulators as a tool for macroeconomic policy analysis and forecasting. We also build the DSGE-model of the Russian economy with an external sector and several regimes of dominance. The assessment of the effects of fiscal-monetary policy interactions through the analysis of impulse response functions of the main endogenous variables leads us to the conclusion that monetary dominance regime is preferable.

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