THE PLACE AND ROLE OF FISCAL POLICY IN CONTEMPORARY ECONOMIES
Keywords:
fiscal policy, taxes, monetary policyAbstract
Tax flows and their functional action from the aspect of liquidity, demand and stimulation of economic growth, i.e. revival of economic activity, about the oscillations of tax flows and the mechanisms of transformation of their financial and monetary action is a basic issue of fiscal policy in modern economies. On the other hand, the complexity of budget flows and their effect on the liquidity of the economy and demand functions represent the other side (expenditure and use of funds) of collected public funds, and especially on the effects of budget changes (parts of budget revenues and expenditures and their mutual connection and action). From this complex of problems, the effect of budget flows on the liquidity of certain sectors, the effect on the formation of demand and the effects of budget flows on economic activity are highlighted. The control of fiscal and monetary flows, as well as the effective use of fiscal and monetary policy instruments, are not possible without knowledge of the mutual effects and connection of fiscal and monetary flows.
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