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Modern Perspectives on Fiscal Stabilization Policies

Author

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  • Jordi Gali

Abstract

The present paper describes recent research on two central themes of Keynes' General Theory: (i) the social waste associated with recessions, and (ii) the effectiveness of fiscal policy as a stabilization tool. The paper also discusses some evidence on the extent to which fiscal policy has been used as a stabilizing tool in industrial economies over the past two decades. (JEL E32, E63)

Suggested Citation

  • Jordi Gali, 2005. "Modern Perspectives on Fiscal Stabilization Policies," CESifo Economic Studies, CESifo Group, vol. 51(4), pages 587-599.
    • Handle: RePEc:oup:cesifo:v:51:y:2005:i:4:p:587-599.
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    File URL: http://hdl.handle.net/10.1093/cesifo/51.4.587
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    Citations

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    Cited by:

    1. Jim Malley & Apostolis Philippopoulos & Ulrich Woitek, 2007. "To React or Not? Fiscal Policy, Volatility and Welfare in the EU-3," IEW - Working Papers 312, Institute for Empirical Research in Economics - University of Zurich.
    2. Charl Jooste & Marina Marinkov, 2012. "South Africa'S Transition To A Consolidated Budget," South African Journal of Economics, Economic Society of South Africa, vol. 80(2), pages 181-199, June.
    3. Giorgio Di Giorgio & Salvatore Nistic�, "undated". "Fiscal Deficits, Current Account Dynamics and Monetary Policy," Working Papers 8, Department of the Treasury, Ministry of the Economy and of Finance.
    4. Malley, Jim & Philippopoulos, Apostolis & Woitek, Ulrich, 2009. "To react or not? Technology shocks, fiscal policy and welfare in the EU-3," European Economic Review, Elsevier, vol. 53(6), pages 689-714, August.

    More about this item

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

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