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Recent Developments in Macroeconomic Analysis: Reviving the Case for Stabilisation Policies


  • Jean-Philippe Cotis


This paper surveys developments in the positive and normative analysis of stabilisation policies over the past fifteen years as well as their influence on the actual conduct of policies. It is found that, from an analytical perspective, there is now a well-founded case for prudent stabilisation policies, with already successful applications in the area of monetary policy. On the fiscal side, however, better analysis has not translated yet into markedly improved policies due to serious political impediments. To conclude, the paper also briefly touches upon the potential macroeconomic benefits of recent changes in monetary policy regimes.

Suggested Citation

  • Jean-Philippe Cotis, 2004. "Recent Developments in Macroeconomic Analysis: Reviving the Case for Stabilisation Policies," Economie Internationale, CEPII research center, issue 100, pages 85-98.
  • Handle: RePEc:cii:cepiei:2004-4qf

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    References listed on IDEAS

    1. Robert J. Barro, 2013. "Inflation and Economic Growth," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 121-144, May.
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    6. Asea, Patrick K & Corden, W Max, 1994. "The Balassa-Samuelson Model: An Overview," Review of International Economics, Wiley Blackwell, vol. 2(3), pages 191-200, October.
    7. Tomáš Holub & Martin Čihák, 2000. "Cenová konvergence k evropské unii - problém relativních cen
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    More about this item


    Stabilisation; policy mix; monetary policy;

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • 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
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy


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