Considering both subjects, I'd recommend a research about central backed digital currencies. It seems there are possibilities about a fiscal expansionary policy ( Preprint Exploiting central bank digital money to stimulate domestic ...

In the same sense, there is a debate about the suitability of dollarization in Venezuela and Argentina. A survey about the dollarized schemes (Ecuador, Panama, El Salvador...) and other rigid monetary schemes (like EU) could be useful.

If you are looking at emerging market economies then few interesting areas would be transmission of monetary policy and Central Bank independence

Dear Prince,

as Shreya suggested, the transmission mechanism of monetary policy in emerging economies would be an interesting topic. I would add an additional problem: since you asked about the relationship between monetary and fiscal policy, the perspective field of research is related to the problem of coordination between two policies. More precisely, central bank independence could be jeopardized if fiscal authorities strive to achieve different policy goals at the field of fiscal policy (the problem known in the literature as "deficit bias"). Of course, your research problem can become country-specific as well, depending on the pool of countries you are analyzing.

I hope that it will be helpful. Good luck with your research!

Vladimir

Dear Colleagues and Friends from RG, As an interesting topic combining the issues of fiscal policy and monetary policy, I suggest: Contemporary concepts of post-Keynesian anti-crisis, pro-development socio-economic policy, including active monetary policy of central banking. I study these issues and describe them in my publications available on the Research Gate portal. I invite scientists and researchers dealing with this issue to cooperate with me. The fiscal policy conducted for several decades in the age of countries refers to Keynesian state interventionism. Especially this type of fiscal policy is conducted during periods of economic crises. In my opinion, both Keynosian and post-Keynesian economics have had many theoretical foundations justifying its application since the emergence and application of Keynesian economics in the 1930s. Of course, it is not without flaws, but politicians have recognized that when the fundamental principles of Keynosian and post-Keynesian economics are applied when implementing pro-development, anti-crisis socio-economic policy, positive aspects prevail. Especially many positive aspects of post-Keys' pro-development socio-economic policy were pointed out when this policy was used as an anti-crisis in the situation of the global financial crisis in 2008.

The post-crisis, post-crisis socio-economic policy applied since autumn 2008 was composed of a combined active fiscal policy correlated with the state of the state's finances and a mild monetary policy managed by the central bank. The monetary policy of central banking played a special role, in which, in addition to low interest rates, various assistance programs were used for commercial banks, including low-interest loans, buy-back of shares in exchange for debt relief and buy-back of lost assets, i.e. unsupported loans and junk securities. These activities were to provide the commercial banking system with new, cheap money to maintain lending and liquidity in the financial system. In addition, as part of the labor market activation, the state intervention policy was implemented consisting in the development and implementation of large investments in the infrastructure of the public public sectors. Activities in public sectors were financed as part of state finances from the state budget and the issue of treasury bonds.

In view of the above, both Keynosian and post-Keynesian economics have had many theoretical foundations justifying its application since the emergence and application of Keynesian economics in the 1930s. In addition, not only the theoretical foundations have been described in the textbooks of economics but also examples of successfully applied socio-economic pro-development and anti-crisis policies. In some developed countries, as part of interventionist socio-economic policy, instruments are used which stimulate innovation in economic activity as well as instruments of social and family policy. Examples of this type of socio-economic policy I described in my publications on the example of pro-development socio-economic policy programs used for 3 years, i.e. the Family 500 Plus Program and the Flat Plus Program (Mieszkanie Plus program). I described these issues in my publications available on the Research Gate website.

In many countries, anti-crisis and pro-development fiscal and monetary policies are correlated. The main purpose of this coordination and their conduct is to activate economic growth, primarily in the years of economic downturn and economic crises. An example was the recent global financial and economic crisis of 2008, during which interventionist instruments were launched in both fiscal and monetary policy, aimed at activating entrepreneurship, business activities, creating new jobs in various public and commercial sectors of the economy and maintaining shares credit and liquidity in the banking system.

In addition, the key issue in the improvement of interventionist, pro-development fiscal and monetary policy is to take into account social goals, corporate social responsibility and the improvement of relations and cooperation between public institutions and commercially operating enterprises and financial institutions. In this area combining issues of striving for economic growth and equality in the distribution of income for developing and developed countries, I propose theories of building economic prosperity on the basis of interventionist, pro-development, counter-cyclical, Keynesian socio-economic policy based on the activation of both investment and supply economy , activating innovation and entrepreneurship, as well as activating consumption etc. through the use of coordinated instruments of fiscal policy and active monetary policy of central banking. Activation of consumption can be implemented, among others, through interventionist government programs of financial support for low-income citizens and support for housing construction.

I described these issues in my scientific publications on the example of pro-development programs of active socio-economic policy currently used with good results, which is part of the program package referred to as the Plan for Responsible Development, i.e. the Family 500 Plus Program and the Flat Plus Program (Mieszkanie Plus Program). In addition, the maintenance of high-quality standards in the area of ​​financial system security, credit risk management, financial transaction procedures and customer service at financial institutions, including commercial investment banks, is a key issue for maintaining high economic growth in the long-term. I have also described these issues in my publications, which are available on the Research Gate portal. I invite you to cooperation.

Best wishes

Dariusz Prokopowicz