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Serial number: 08/2013
Author(s): Kh. Abdullayev
Language: Azerbaijani
Date: 2013
Abstract: Behaviors of fiscal and monetary bodies in developing countries highly differ from those of developed economies. Therefore, the current paper investigates behaviors of fiscal and monetary bodies targeting inflation and economic growth using the game theoretic approach. Results from five different games demonstrate that the benefits for both bodies from cooperative games are higher than those of non-cooperative games.
Key words: Game theory, fiscal deficit, inflation targeting, Nash equilibrium
JEL classification: E31,O23,C70
