The game theory is one of the methods to research the interaction between fiscal and monetary policies. In the frame of the game theory, an antagonistic and a non- antagonistic conflict can be distinguished. In analysis of the interaction of fiscal and monetary policy, it can be expected (with regard to the literature mentioned above) that this interaction (conflict) is non-antagonistic because the aims of fiscal and monetary policy are not necessarily in a contradiction. It should also be noted that a cooperative and a non-cooperative game can be distinguished in the non-antagonistic conflict. For the purposes of this paper, a non-cooperative game is preferable and a loss function of monetary and fiscal policy should be different and separate. In their contribution, Buti, Roeger and Veld (2001) show that a situation is generally expected in the available literature when the objective function of a central bank differs from the objective func- tion of the government (a central bank aims to stabilize inflation through interest rates, while fiscal authority aims to stabilize the budget through fiscal deficit). The solution of the game-theoretical cooperative equilibrium would imply a common (loss, objective) function of the central bank and the fiscal authority (and both economic policy authori- ties would be thus focused on both stabilizing inflation rate and stabilizing the output). The studies mentioned above, especially empirical studies, have similar assumptions. More specifically, this problem is also expressed by Řežábek (2011), who shows that in the Czech Republic, we can only consider a non-cooperative equilibrium in the game theory. According to Řežábek (2011), in practice it is assumed that a central bank and a fiscal authority do not cooperate to set their economic policy instruments at the time of their decision. He emphasizes that this corresponds to his experience with economic policy in the Czech Republic and with a valid legislation which ensures the independ- ence of a central bank and the government. The situation is similar in the other Visegrad countries.