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Serial number: 01/2019
Author(s): Heyran Aliyeva, Ramiz Rahmanov
Language: English
Date: 2019
Abstract: This paper examines the interaction between the fiscal and monetary policies in Azerbaijan using the VAR methodology and quarterly data for the period 2003Q1-2018Q4. The results of the Granger causality tests and impulse response analysis show that although both the monetary and fiscal policies demonstrate activity, the fiscal policy dominates over the monetary policy. In terms of the fiscal regime classification, we find the regime in the country to be non-Ricardian.
Key words: Fiscal policy, monetary policy, interaction, policy regimes, Azerbaijan
JEL classification: F31, F39
