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From Monetary to Fiscal Policy Rule: A Matter of Adjustment or Choice?

In: Credit, Money and Macroeconomic Policy

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  • Theodore T. Koutsobinas

Abstract

With recent turmoil in financial markets around the world, this unique and up-to-date book addresses a number of challenging issues regarding monetary policy, financial markets and macroeconomic policy.

Suggested Citation

  • Theodore T. Koutsobinas, 2011. "From Monetary to Fiscal Policy Rule: A Matter of Adjustment or Choice?," Chapters, in: Claude Gnos & Louis-Philippe Rochon (ed.), Credit, Money and Macroeconomic Policy, chapter 4, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:13254_4
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    References listed on IDEAS

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    1. L. Wray, 2007. "A Post Keynesian view of central bank independence, policy targets, and the rules versus discretion debate," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(1), pages 119-141.
    2. John Smithin, 2007. "A real interest rate rule for monetary policy?," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(1), pages 101-118.
    3. Philip Arestis & Malcolm Sawyer, 2005. "Reinventing Fiscal Policy," Palgrave Macmillan Books, in: Blandine Laperche & Dimitri Uzunidis (ed.), John Kenneth Galbraith and the Future of Economics, chapter 9, pages 105-125, Palgrave Macmillan.
    4. Robert M. Solow, 2005. "Rethinking Fiscal Policy," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 21(4), pages 509-514, Winter.
    5. Svensson, Lars-E-O, 2001. "The Zero Bound in an Open Economy: A Foolproof Way of Escaping from a Liquidity Trap," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 19(S1), pages 277-312, February.
    6. Mark Gertler & Jordi Gali & Richard Clarida, 1999. "The Science of Monetary Policy: A New Keynesian Perspective," Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1661-1707, December.
    7. Ms. Selma Mahfouz & Mr. Richard Hemming & Mr. Michael Kell, 2002. "The Effectiveness of Fiscal Policy in Stimulating Economic Activity: A Review of the Literature," IMF Working Papers 2002/208, International Monetary Fund.
    8. Paul Krugman, 2005. "Is Fiscal Policy Poised for a Comeback?," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 21(4), pages 515-523, Winter.
    9. John B. Taylor, 2000. "Reassessing Discretionary Fiscal Policy," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 21-36, Summer.
    10. Andres RodrIguez-Pose & Ugo Fratesi†, 2004. "Between Development and Social Policies: The Impact of European Structural Funds in Objective 1 Regions," Regional Studies, Taylor & Francis Journals, vol. 38(1), pages 97-113.
    11. Giuseppe Fontana & Alfonso Palacio‐Vera, 2007. "Are Long‐Run Price Stability And Short‐Run Output Stabilization All That Monetary Policy Can Aim For?," Metroeconomica, Wiley Blackwell, vol. 58(2), pages 269-298, May.
    12. Louis-Philippe Rochon & Mark Setterfield, 2007. "Interest rates, income distribution, and monetary policy dominance: Post Keynesians and the "fair rate" of interest," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(1), pages 13-42.
    13. Thomas Palley, 2007. "Macroeconomics and monetary policy: competing theoretical frameworks," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(1), pages 61-78.
    14. Mark Gertler & Jordi Gali & Richard Clarida, 1999. "The Science of Monetary Policy: A New Keynesian Perspective," Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1661-1707, December.
    15. Per Lundequist & Dominic Power, 2002. "Putting Porter into Practice? Practices of Regional Cluster Building: Evidence from Sweden," European Planning Studies, Taylor & Francis Journals, vol. 10(6), pages 685-704, September.
    16. Claude Gnos & Louis-Philippe Rochon (ed.), 2011. "Credit, Money and Macroeconomic Policy," Books, Edward Elgar Publishing, number 13254.
    17. Aadne Cappelen & Fulvio Castellacci & Jan Fagerberg & Bart Verspagen, 2003. "The Impact of EU Regional Support on Growth and Convergence in the European Union," Journal of Common Market Studies, Wiley Blackwell, vol. 41(4), pages 621-644, September.
    18. Maaike Beugelsdijk & Sylvester C.W. Eijffinger, 2005. "The Effectiveness of Structural Policy in the European Union: An Empirical Analysis for the EU‐15 in 1995–2001," Journal of Common Market Studies, Wiley Blackwell, vol. 43(1), pages 37-51, March.
    19. Bennett T. McCallum, 2001. "Monetary policy analysis in models without money," Review, Federal Reserve Bank of St. Louis, vol. 83(Jul), pages 145-164.
    20. Okina, Kunio & Shiratsuka, Shigenori, 2004. "Policy commitment and expectation formation: Japan's experience under zero interest rates," The North American Journal of Economics and Finance, Elsevier, vol. 15(1), pages 75-100, March.
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