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Fiscal Operations in a Nation That Issues Its Own Currency

In: Modern Money Theory

Author

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  • L. Randall Wray

    (University of Missouri-Kansas City)

Abstract

In this chapter we will begin to examine our next topic: government spending, taxing, interest rate setting, and bond issue — that is, we will examine fiscal policy for a government that issues its own currency. Note that it is not possible to completely separate fiscal policy from monetary policy, especially in the area of the issue of treasury debt. We will therefore include in this chapter interest-targeting operations by the central bank.

Suggested Citation

  • L. Randall Wray, 2012. "Fiscal Operations in a Nation That Issues Its Own Currency," Palgrave Macmillan Books, in: Modern Money Theory, chapter 4, pages 110-147, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-26514-2_4
    DOI: 10.1057/9781137265142_4
    as

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