The Macroeconomics Of Fiscal Policy

Author : Richard W. Kopcke,Geoffrey Matthew Bemis Tootell,Robert K. Triest
Publisher : Unknown
Page : 408 pages
File Size : 51,6 Mb
Release : 2006
Category : Business & Economics
ISBN : UCSC:32106018378684

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The Macroeconomics of Fiscal Policy by Richard W. Kopcke,Geoffrey Matthew Bemis Tootell,Robert K. Triest Pdf

Leading academics and former policy makers assess the effectiveness of postwar American fiscal policy as questions about the role of fiscal policy once again come to the forefront of economic research and debate. The United States's post-World War II emphasis on activist fiscal policy for short-term economic stabilization was called into question in the 1960s, and by the late 1980s was superseded by the view that fiscal policy should focus on long-run structural concerns. For the past two decades both public policy and economic research emphasized monetary policy as a stabilization tool. But there remain issues in American macroeconomic policy having to do with budget deficits, present and projected, as well as a recent revival of interest in fiscal policy as a stabilization tool. Overall, the academic pendulum is swinging back towards a renewed consideration of fiscal policy. This volume brings together leading researchers and policy makers to assess the effectiveness and consequences of fiscal policy. Drawing on postwar policy experience and recent economic research, this book offers a state-of-the-art consideration of where fiscal policy stands today. Contributors address both the appropriateness of fiscal policy as a tool for short-run macroeconomic stabilization and the longer-term impact of fiscal decisions and economic policy. Topics covered include the legacy of the Reagan administration's tax cuts; whether public policy has encouraged such behavior as "overconsumption," which may foster persistent budget and trade deficits; and, in light of recent experience, how and when fiscal policy might be appropriate as a short-term stabilization tool. Contributors Alan J. Auerbach, Susanto Basu, Olivier J. Blanchard, Alan S. Blinder, Barry P. Bosworth, W. Elliott Brownlee, William H. Buiter, Jonathan Coppel, Jean-Philippe Cotis, Luiz de Mello, James S. Duesenberry, Douglas W. Elmendorf, Eric Engen, Jeffrey A. Frankel, Benjamin M. Friedman, Richard W. Kopcke, Catherine L. Mann, Van Doorn Ooms, Rudolph G. Penner, Alice M. Rivlin, Christopher A. Sims, C. Eugene Steuerle, Geoffrey M.B. Tootell, Robert K. Triest, Edwin M. Truman

Author : Farrokh K. Langdana
Publisher : Springer Science & Business Media
Page : 299 pages
File Size : 49,9 Mb
Release : 2013-03-09
Category : Business & Economics
ISBN : 9781475736465

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Macroeconomic Policy by Farrokh K. Langdana Pdf

This is an applications-oriented text that demystifies the linkages between monetary and fiscal policies and key macroeconomic variables such as income, unemployment, inflation and interest rates. Specially written "newspaper" articles simulate current macroeconomic news on asset-price bubbles, exchange rates, hyperinflation and more. Exercises and diagrams, and a global perspective – incorporating both developed and emerging economies - make this a broadly useful, real-world oriented text on a complex and shifting subject.

Author : Farrokh K. Langdana
Publisher : Springer Nature
Page : 358 pages
File Size : 44,8 Mb
Release : 2022-04-04
Category : Business & Economics
ISBN : 9783030920586

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Macroeconomic Policy by Farrokh K. Langdana Pdf

This book is an applications-oriented text designed for individuals who desire a hands-on approach to analyzing the effects of fiscal and monetary policies. Significantly updated for the fourth edition, the text provides an understanding of the global economy in the wake of the COVID crisis, discussing topics such as pandemic related supply and demand-side shocks, the role of Modern Monetary Theory (MMT) in financing COVID rescue plans, the effect of the US, India, Eurozone and China’s post-COVID economies on emerging and transitioning economies, and the resurgence of inflation. This edition includes deeper coverage on the issue of budget deficit sustainability and on trade wars, especially in a global context, and revisits the life cycles of speculative asset price (SAP) bubbles, especially in the housing markets and in SPACs. The fourth edition contains several brand-new cases and media articles that are carefully positioned to relate explicitly to theory, and to look ahead to and preempt global macro situations and polices in the years to come. MBA students and Executive MBA students who appreciate the importance of monetary and fiscal analysis will find this text to be right on target. Financial analysts and individual investors who need to strip away economic myths and jargon and systematically examine and understand the effects of macro policies on variables such as inflation, output, employment and interest rates, will also find the book extremely useful.

Author : Bent Hansen
Publisher : Routledge
Page : 469 pages
File Size : 49,7 Mb
Release : 2014-04-04
Category : Business & Economics
ISBN : 9781317833512

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The Economic Theory of Fiscal Policy by Bent Hansen Pdf

The book explores whether fiscal policies can secure full employment without inflation, one of the key questions in economics after Keynes. Part 1, General Theory of Public Finance and Fiscal Policy, discusses Ends and Means in economic policy. The results of this ends-means analysis are applied to fiscal policy. Part 2, Microeconomics, deals with the impact of fiscal measures on the behaviour of the individual household, firm and other organization, concentrating on the effects on consumption and saving. Part 3, Macroeconomics, considers how the problem of keeping the price-level constant and the labour market in equilibrium at full employment may be solved by means of fiscal and monetary measures. Problems connected with the volume of investments and the balance of payments are considered simultaneously.

Author : Alberto Alesina,Francesco Giavazzi
Publisher : University of Chicago Press
Page : 596 pages
File Size : 49,5 Mb
Release : 2013-06-25
Category : Business & Economics
ISBN : 9780226018447

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Fiscal Policy after the Financial Crisis by Alberto Alesina,Francesco Giavazzi Pdf

The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power of such policies to influence economic growth. Fiscal Policy after the Financial Crisis focuses on the effects of fiscal stimuli and increased government spending, with contributions that consider the measurement of the multiplier effect and its size. In the face of uncertainty over the sustainability of recent economic policies, further contributions to this volume discuss the merits of alternate means of debt reduction through decreased government spending or increased taxes. A final section examines how the short-term political forces driving fiscal policy might be balanced with aspects of the long-term planning governing monetary policy. A direct intervention in timely debates, Fiscal Policy after the Financial Crisis offers invaluable insights about various responses to the recent financial crisis.

Author : Aschauer, David,Jeremy Greenwood,University of Western Ontario. Department of Economics
Publisher : London : Department of Economics, University of Western Ontario
Page : 65 pages
File Size : 50,8 Mb
Release : 1985
Category : Fiscal policy
ISBN : 0771406134

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Macroeconomic Effects of Fiscal Policy by Aschauer, David,Jeremy Greenwood,University of Western Ontario. Department of Economics Pdf

Author : Alan T. Peacock,Graham Keith Shaw
Publisher : Unknown
Page : 202 pages
File Size : 44,6 Mb
Release : 1976
Category : Political Science
ISBN : STANFORD:36105036490295

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The Economic Theory of Fiscal Policy by Alan T. Peacock,Graham Keith Shaw Pdf

Review of the economics of fiscal policy which takes account of some major post-keynesian developments in macroeconomic models.

Author : Farrokh Langdana
Publisher : Springer
Page : 288 pages
File Size : 54,7 Mb
Release : 2009-04-15
Category : Business & Economics
ISBN : 0387776656

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Macroeconomic Policy by Farrokh Langdana Pdf

This is an applications-oriented text that demystifies the linkages between monetary and fiscal policies and key macroeconomic variables such as income, unemployment, inflation and interest rates. Specially written "newspaper" articles simulate current macroeconomic news on asset-price bubbles, exchange rates, hyperinflation and more. Exercises and diagrams, and a global perspective – incorporating both developed and emerging economies - make this a broadly useful, real-world oriented text on a complex and shifting subject.

Author : Giuseppe Eusepi,Richard E. Wagner
Publisher : Edward Elgar Publishing
Page : 192 pages
File Size : 53,7 Mb
Release : 2017-06-30
Category : Business & Economics
ISBN : 9781786438041

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Public Debt by Giuseppe Eusepi,Richard E. Wagner Pdf

Over the past decades, economists have witnessed with growing uneasiness their failure to explain the ballooning of public debt in most countries. This book provides an alternative orientation that explains why concepts of public debt that are relevant for authoritarian regimes are not relevant for democratic regimes. Using methodological individualism and micro-economics, this book overcomes flaws inherent in the standard macro approach, according to which governments manipulate public debt to promote systemic stability. This unique analysis is grounded in the writings of Antonio de Viti de Marco, injecting current analytical contributions and formulations into the framework to offer a forthright insight into public debt and political economy.

Author : Cheryl Williamson Gray,Tracey Lane,Aristomène Varoudakis
Publisher : World Bank Publications
Page : 358 pages
File Size : 51,9 Mb
Release : 2007
Category : Political Science
ISBN : 9780821371824

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Fiscal Policy and Economic Growth by Cheryl Williamson Gray,Tracey Lane,Aristomène Varoudakis Pdf

Worldwide experience highlights public finance policies that promote economic growth while meeting the need for fundamental public goods. Macroeconomic stability is essential, as large budget deficits retard growth, followed by moderate levels of public spending - around one-third of GDP or less - especially when governance and public administration are weak; that in turn requires efficiency, particularly in areas such as infrastructure, health, education, and social protection; finally, lower income and payroll tax rates can spur investment and employment. The Eastern European and Central Asia countries pioneered flat income taxes without generally suffering revenue losses as a result, but they have not addressed the problem of high payroll taxes and still face many hurdles in improving the efficiency and effectiveness of public spending and revenue generation.

Author : Raghbendra Jha
Publisher : Unknown
Page : 46 pages
File Size : 48,6 Mb
Release : 2001
Category : Debts, External
ISBN : UCSD:31822031513823

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Macroeconomics of Fiscal Policy in Developing Countries by Raghbendra Jha Pdf

Author : Aschauer, David,Jeremy Greenwood,University of Western Ontario. Department of Economics,University of Western Ontario. Centre for the Study of International Economic Relations
Publisher : London : Department of Economics, University of Western Ontario
Page : 32 pages
File Size : 49,9 Mb
Release : 1984
Category : Electronic
ISBN : 0771405804

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Macroeconomic Effects of Fiscal Policy by Aschauer, David,Jeremy Greenwood,University of Western Ontario. Department of Economics,University of Western Ontario. Centre for the Study of International Economic Relations Pdf

Author : Patrick Blagrave,Giang Ho,Ksenia Koloskova,Mr.Esteban Vesperoni
Publisher : International Monetary Fund
Page : 31 pages
File Size : 48,8 Mb
Release : 2017-10-18
Category : Business & Economics
ISBN : 9781484352410

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Fiscal Spillovers by Patrick Blagrave,Giang Ho,Ksenia Koloskova,Mr.Esteban Vesperoni Pdf

Are fiscal spillovers today as large as they were during the global financial crisis? How do they depend on economic and policy conditions? This note informs the debate on the cross-border impact of fiscal policy on economic activity, shedding light on the magnitude and the factors affecting transmission, such as the fiscal instruments used, cyclical positions, monetary policy conditions, and exchange rate regimes. The note assesses spillovers from five major advanced economies (France, Germany, Japan, United Kingdom, United States) on 55 advanced and emerging market economies that represent 85 percent of global output, looking at government-spending and tax revenue shocks during expansion and consolidation episodes. It finds that fiscal spillovers are economically significant in the presence of slack and/or accommodative monetary policy—and considerably smaller otherwise, which suggests that spillovers are large when domestic multipliers are also large. It also finds that spillovers from government-spending shocks are larger and more persistent than those from tax shocks and that transmission may be stronger among countries with fixed exchange rates. The evidence suggests that although spillovers from fiscal policies in the current environment may not be as large as they were during the crisis, they may still be important under certain economic circumstances.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 257 pages
File Size : 53,9 Mb
Release : 2015-04-20
Category : Business & Economics
ISBN : 9781498344654

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Fiscal Policy and Long-Term Growth by International Monetary Fund Pdf

This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.

Author : Olivier Blanchard,Lawrence H. Summers
Publisher : MIT Press
Page : 388 pages
File Size : 49,8 Mb
Release : 2019-04-16
Category : Business & Economics
ISBN : 9780262039369

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Evolution or Revolution? by Olivier Blanchard,Lawrence H. Summers Pdf

Leading economists discuss post–financial crisis policy dilemmas, including the dangers of complacency in a period of relative stability. The Great Depression led to the Keynesian revolution and dramatic shifts in macroeconomic theory and macroeconomic policy. Similarly, the stagflation of the 1970s led to the adoption of the natural rate hypothesis and to a major reassessment of the role of macroeconomic policy. Should the financial crisis and the Great Recession lead to yet another major reassessment, to another intellectual revolution? Will it? If so, what form should it, or will it, take? These are the questions taken up in this book, in a series of contributions by policymakers and academics. The contributors discuss the complex role of the financial sector, the relative roles of monetary and fiscal policy, the limits of monetary policy to address financial stability, the need for fiscal policy to play a more active role in stabilization, and the relative roles of financial regulation and macroprudential tools. The general message is a warning against going back to precrisis ways—to narrow inflation targeting, little use of fiscal policy for stabilization, and insufficient financial regulation. Contributors David Aikman, Alan J. Auerbach, Ben S. Bernanke, Olivier Blanchard, Lael Brainard, Markus K. Brunnermeier, Marco Buti, Benoît Cœuré, Mario Draghi, Barry Eichengreen, Jason Furman, Gita Gopinath, Pierre-Olivier Gourinchas, Andrew G. Haldane, Philipp Hildebrand, Marc Hinterschweiger, Sujit Kapadia, Nellie Liang, Adam S. Posen, Raghuram Rajan, Valerie Ramey, Carmen Reinhart, Dani Rodrik, Robert E. Rubin, Jay C. Shambaugh, Tharman Shanmugaratnam, Jeremy C. Stein, Lawrence H. Summers