FEATURES OF USING TOOLS OF DISCRETIONAL AND NON-DISCRETIONAL FISCAL POLICY IN THE CONDITIONS OF ECONOMIC CYCLE
Abstract
Purpose. The aim of the article is to investigate thoroughly, analyze and propose their own point of view on the problem of the dependence of economic cycles and fiscal policy, the choice of a model of fiscal behavior in the coming of a particular phase of such cycle, to identify the dependence of the economic cycle on fiscal doctrine, to determine and prove the relationship between economic recessions and the unwatched and unwarranted policy of the government in fiscal policy. Methodology of research. General scientific and special methods are used during the research, in particular: monographic – when reviewing literary sources on the subject of research; generalization of information and literary sources – to study the experience of determining the phases of the economic cycle; expert and logical – when choosing a model of fiscal policy at certain stages of economic development; system and analytical – in the critical analysis of fiscal policy in the conditions of those or other economic imbalances. Findings. The author proposes his own point of view on the problem of dependence of economic cycles and fiscal policy. The problems of using one or another model of fiscal policy in different phases of the economic cycle are singled out. It was found that automatic (embedded) stabilizers of non-dispersed fiscal policy react instantly to economic changes, effectively reducing the level of overheating of the economy at once. It has been established that economic fluctuations over long periods of time need to be corrected with the help of effective manual instruments of discretionary fiscal policy, but such actions must be justified and not be influenced by discrediting actions of other countries. Scientific novelty. The dependence of the economic cycle on the fiscal doctrine has been revealed, the fact of dependence between economic downturns and the unbalanced and unwarranted government policy in the field of fiscal policy. Practical value. The obtained research results are the basis for effective management of economic processes through the prism of the fiscal policy of the state.
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