All is Quiet in the Fiscal Front: Fiscal Policy for the Global Economic Crisis
AbstractThe current economic global crisis has thrown fiscal policy onto the center stage. However, the current crisis episode has not produced any change regarding the standing role and function of fiscal policy in developed and developing market economies that has dominated the economics profession for decades. In fact, the uncertain prospects for recovery underscore the fact that free market economies lack the mechanisms to bring about and maintain full employment. Full employment requires designing and making operational institutions at the national and global levels that can manage aggregate demand. This paper reviews the evidence on current fiscal efforts around the world.
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Bibliographic InfoPaper provided by University of Utah, Department of Economics in its series Working Paper Series, Department of Economics, University of Utah with number 2010_02.
Length: 23 pages
Date of creation: 2010
Date of revision:
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Fiscal Policy; Fiscal Deficit;
Find related papers by JEL classification:
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-02-05 (All new papers)
- NEP-CBA-2010-02-05 (Central Banking)
- NEP-MAC-2010-02-05 (Macroeconomics)
- NEP-PKE-2010-02-05 (Post Keynesian Economics)
- NEP-PUB-2010-02-05 (Public Finance)
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"New Keynesian versus old Keynesian government spending multipliers,"
CEPR Discussion Papers
7236, C.E.P.R. Discussion Papers.
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