Modern Perspectives on Stabilization Policies
AbstractThe 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.
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Bibliographic InfoPaper provided by Barcelona Graduate School of Economics in its series Working Papers with number 222.
Date of creation: Oct 2004
Date of revision:
Business cycles; inefficient allocations; government spending multiplier; non-Ricardian households; countercyclical policies;
Find related papers by 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
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory,"
CEPR Discussion Papers
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