THEORETICAL BASIS OF THE STABILIZING ROLE OF FISCAL INSTRUMENTS IN A MARKET ECONOMY

Keywords: macroeconomic stabilization, fiscal discretional and automatic instruments, cyclical fluctuations, unemployment, inflation.

Abstract

By means of fiscal and/or monetary instruments, highly developed market economies undertake stabilization activities which aim (among other things) to influence the morphology of business cycles and the equilibrium of the labor market, as well as striving to maintain a stable value of currency. The aim of the article is to examine the hypothetical impact of both discretionary and automatic fiscal policy tools on stabilization of the real and the nominal sphere of a closed market economy. The article is hypothetical in nature. First, the aims of macroeconomic stabilization and the possibilities of their implementation are discussed. Later, discretional and automatic fiscal instruments are presented, and the nature of their impact upon accomplishment of the previously formulated goals is examined. Fiscal instruments can and should be used in stabilization activities and the tools that operate automatically should be particularly important for policy makers.

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Published
2020-06-10
How to Cite
Barczyk, R. (2020). THEORETICAL BASIS OF THE STABILIZING ROLE OF FISCAL INSTRUMENTS IN A MARKET ECONOMY. Scientific Journal of Warsaw University of Life Sciences - SGGW - European Policies, Finance and Marketing, (23(72), 7-16. https://doi.org/10.22630/PEFIM.2020.23.72.1