We examine the relationship between oil price fluctuations and economic activity in Azerbaijan using vector …'s capacity to subsidize the remaining economy. Second, oil price innovations also lead to higher inflation in Azerbaijan. In …

This study aims to analyse the discretionary fiscal policy of Azerbaijan, Kazakhstan, and Russia for the period 2003 … defines the discretionary fiscal position and the aggregate demand effect of fiscal policy. The SBBs in Azerbaijan and Russia … demonstrate that fiscal policies tend to be mainly procyclical in Kazakhstan and Russia. Azerbaijan conducted a counter …