Abstract
The growing importance of macroeconomic management over time dictates the need to understand what constitutes effective management of monetary and fiscal policies during business cycles. This study aims at scrutinizing this topic empirically using Egypt as a case study during the timeframe FY 1988/89 ? FY 2015/16. The business cycles have been dated during that period, and the correlation between some monetary and fiscal tools with industrial production has been tested. Deficit spending was found to be counterproductive in the near team up to the fourth quarter, while expansionary monetary policy is unfavorable for economic growth up to two subsequent quarters due to its consequential inflationary effect.
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