The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 5/2024.  Finance.

Daria A. Dinets

Dr. Sci. (Econ.), Associate Professor, Head of the Department of the Finance and Credit, Peoples’ Friendship University of Russia named after Patrice Lumumba;

Leading Researcher, Institute for Research of Socio-Economic Transformations and Financial Policy, Financial University under the Government of the Russian Federation, Moscow, Russia

ORCID: 0000-0001-8734-8998

CONTRADICTIONS BETWEEN MONETARY AND FISCAL POLICIES: ANALYSIS OF THE CURRENT SITUATION AND POSSIBILITIES OF REDUCING THE LEVEL OF INTERGENERATIONAL DEBT

172-210

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Abstract

The article proposes the author’s approach to grouping countries according to the level of use of resources inherited from past generations, as well as resources “borrowed” from future generations. The sample of countries was grouped based on the increase in production capacity compared to the level of past generations, which characterized the degree of use of those achievements that were formed by past generations, or formed their own reproduction circuit based on the achievements of engineering trends and future technologies. Further, these countries were grouped on the basis of “predatory” use of resources to the detriment of future generations. At the junction of two grouping characteristics, the author’s grouping of countries according to the level of intergenerational debt was formed. An analysis of the influence of monetary and fiscal policies on the economies of the countries of each group was carried out. Conclusions are drawn about the possibility of reducing the level of intergenerational debt through policy coordination without the use of automatic rules or recommendations of the Washington Consensus. For each group of countries, their own characteristic features of the fiscal and monetary policies combination have been identified, which have a stronger impact on the dynamics of intergenerational debt.

Keywords: monetary policy, fiscal policy, resource consumption, productivity, growth, intergenerational debt.

JEL: H10, H60

EDN: UATXCM

DOI: https://doi.org/10.52180/2073-6487_ 2024_5_172_210

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Manuscript submission date: 11.09.2024 

For citation:

Dinets D.A. Contradictions between Monetary and Fiscal Policies: Analysis of the Current Situation and Possibilities of Reducing the Level of Intergenerational Debt // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2024. № 5. Pp. 172-210. (In Russ.).  https://doi.org/10.52180/2073-6487_ 2024_5_172_210 EDN: UATXCM

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