Re-examining monetary and fiscal policy for the 21st century
著者
書誌事項
Re-examining monetary and fiscal policy for the 21st century
E. Elgar, c2004
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注記
Includes bibliographical references (p. 189-204) and index
内容説明・目次
内容説明
This book provides a much-needed re-examination of monetary and fiscal policies, their application in the real world and their potential for macroeconomic policy in the 21st century. It provides a detailed discussion and critique of the 'new consensus' in macroeconomics along with the monetary and fiscal policies encapsulated within it.
The authors argue that monetary policy is an ineffective means of controlling inflation and, if not used properly, can also have detrimental effects on the supply-side of the economy. They further contend that fiscal policy remains a potent instrument for influencing aggregate demand. Using detailed analysis the authors emphasise the role of capacity constraints as possible inflation barriers and argue against the NAIRU as a labour market phenomenon. The book concludes by critically examining the economic policies of the European Economic and Monetary Union.
Written by two of the leading scholars in the field, this provocative new volume is concise, well argued and rich in new insights. It will interest all those concerned with the current problems and future development of monetary and fiscal policy.
目次
Contents: 1. Introduction: Debates Over Monetary and Fiscal Policy 2. The 'New Consensus' in Macroeconomics and Monetary Policy 3. The Macroeconometric Model of the Bank of England 4. Can Monetary Policy Affect Inflation or the Real Economy? 5. Does the Stock of Money Have Any Casual Significance? 6. The Inflationary Process 7. The Nature and Role of Monetary and Fiscal Policy when Money is Endogenous 8. Reinventing Fiscal Policy 9. The Case for Fiscal Policy 10. Macroeconomic Policies of the European Economic and Monetary Union References Index
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