SCIENTIFIC AND METHODOLOGICAL APPROACH TO ESTIMATING BUDGET IMBALANCES

The article focuses on the ambiguity of the economists’ scientific position to the state budget imbalancing. The understanding of the balanced state budget in terms of revenues and expenditures in accordance with the concept of «healthy finances» is substantiated. The shortcomings of the concept of «healthy finances» are revealed, in particular, the fact that the annual balancing of budget revenues and expenditures excludes or significantly reduces the possibility of countercyclical, stabilizing influence of the state fiscal policy. Attention is paid to the peculiarities of the concept of chronic budget deficit and the specifics of deficit financing of public expenditures within the concept of countercyclical regulation. At the same time, it is proved that budget’s balancing is a secondary problem according to the concept of functional finance. It has been found that budget deficits can have both positive and negative socio-economic effects, depending on the circumstances in which they are formed. The types of state budget deficit are identified and characterized, namely: nominal, real, operating, primary, actual, hidden, quasi-fiscal, aggregative, active, passive, perceived, structural, cyclic deficits. It is proved that the main task of the state is to balance it in order to balance revenues and expenditures of the state. The article considers the approach to estimating budget imbalance using Cauchy inequality and an algorithm for estimating budget imbalance is formed. It is proved that ensuring budget balance is possible in the following areas: improving the quality of planning of key budget indicators; expansion of the income base; budget expenditure optimization / sequestration; targeted financing; improving the efficiency of state property management, budget control; introduction of result-oriented budgeting and audit of the efficiency of the use of budget funds; improvement of intergovernmental relations; public debt management. The article develops a scientific and methodological approach to imbalances estimating, in particular the Consolidated Budget in terms of substantiating the limit value of the imbalance measure based on the application of Cauchy inequality, as well as determining the impact of dynamic changes in budget imbalance based on the method of chain substitutions. The advantages of this scientific and methodological approach are the ability to compare estimates of budget imbalances, which differ significantly in the amount of financial resources redistributed through the budget, because such estimates are relative, which eliminates the effect of budget scale. Keywords: budget system, budget, budget deficit, deficit financing, budget balance, imbalance assessment, countercyclical regulation of the economy. JEL Classіfіcatіon G18, H6 Formulas: 3; fig.: 1; tabl.: 1; bibl.: 10.

The probability of the correct majority made decision

Aim: the probability of correctness of the collegial decision, which is made by a majority vote of some collective (board), consisting of an odd number of members is investigated, if the probability of correctness of the individual decision of each member of Board is known. Мaterials and methods: Bernoulli scheme, asymptotic representation, estimation via geometric series, power series expansion, the formula of Wallis, a power scale of averages, average of Kolmogorov. Result: it is established, that if for each member of the board the probability of correctness of the individual decision is more than ½, then with an unlimited increase in the number of members of the Board the probability of correctness of the collegial decision tends to 1. The asymptotic representation and a number of bilateral estimates characterizing the speed of this aspiration are obtained. For heterogeneous Board (that is a Board, whose members make the right individual decision with different probability) introduced the concept of collegial average as an average characteristics, which can replaced the individual probability of each member of the board with the preservation of the probability of a collegial decision. The existence and uniqueness of the collegial average are proved. We derive a collegial inequality showing that the collegial average of some a set of numbers is not less than the geometric average of the same numbers with the equality takes place in the case and only if all the numbers are equal to each other. The collegial inequality serves as an analogue and complement to known set of inequalities establishing a connection between different averages (for example, Cauchy inequality for arithmetic average and geometric average). Conclusion: thus, the results of the study fully meet the aim of determining the probability of correctness of collegial decision taken by a majority of votes under the assumptions. As a result we obtain an asymptotic representation and bilateral estimates characterizing the rate of striving for the correct solution. For a heterogeneous board, the existence uniqueness of the concept of collegial average as an average characteristics is introduced and strictly proved, which can be replaced by an individual probability of each with preserving the probability of correctness of the collegial decision. It is established that the collegial average is not less than the geometric average. Possible applications of the results obtained can be the quantitative evaluation of election procedures and the solution of problems associated with improving the reliability of recognition of weak signals of control sensors of various transport systems, including high-speed transport systems on magnetic suspension.

On an Extension of Hilbert Inequality

In this paper, by using Hadamard inequality and Cauchy inequality, an extension of Hilbert inequality is established.

Coefficient Distribution Method for Minimum Weight Design of Large-Span Determinate Trusses

The minimum weight design method of large-span statically determinate trusses satisfying the displacement constraint is studied. The displacement calculation formula is provided, and the critical condition of minimum weight design satisfying the condition of allowed displacement is educed using Cauchy inequality. The distribution coefficient, which is used to obtain the minimum weight design, is defined and the coefficient distribution method is proposed. An engineering example is analyzed using the coefficient distribution method above, and the compared results are discussed. Study results show that the proposed method, coefficient distribution method, is correct，reliable and effective.

Mesh Exponential Stability of Look-Ahead Interconnected System

Mesh stability is the property of damping or eliminating disturbances as they travel in an interconnected system. In this paper, the mesh stability of a class of look-ahead vehicle following system is studied under the assumption that the all isolated subsystems are exponentially stable. Via idea of vector Lyapunov function theory and by using of Cauchy inequality technique, the sufficient condition to ensure the global mesh exponential stability is obtained. The obtained condition which shows the relationship and domain of the parameters is convenient to apply to design controller in practice.