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Effects of Fiscal and Monetary Policy in the Great Recession

  • Gonzalo Caballero

    ()

    (Faculty of Economics, Campus As Lagoas, Marcosende, University of Vigo, Vigo 36310, Spain)

World economy is living a time of change, and the complexity of change has implied a new research agenda on the role of economic policy in society. The role, types and effects of economic policy have been major issues in economic science since its origins. Jean Tinbergen (1956) [1] established the basis for the traditional theory of economic policy in economics and he tried to show how economic knowledge could be organized to regulate and guide economic systems. Nevertheless, this traditional approach has been improved through several contributions, for example when Eggertsson (1997) [2] incorporated the existence of incomplete knowledge, endogenous politics and institutional change in the theory of economic policy. [...]

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Article provided by MDPI, Open Access Journal in its journal Economies.

Volume (Year): 1 (2013)
Issue (Month): 2 (September)
Pages: 15-18

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Handle: RePEc:gam:jecomi:v:1:y:2013:i:2:p:15-18:d:29002
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  1. Gunter Coenen & Roland Straub & Mathias Trabandt, 2012. "Fiscal Policy and the Great Recession in the Euro Area," American Economic Review, American Economic Association, vol. 102(3), pages 71-76, May.
  2. Keith Kuester & Gernot J. Mueller & Giancarlo Corsetti & André Meier, 2012. "Sovereign Risk, Fiscal Policy, and Macroeconomic Stability," IMF Working Papers 12/33, International Monetary Fund.
  3. Daniel Shoag, 2013. "Using State Pension Shocks to Estimate Fiscal Multipliers since the Great Recession," American Economic Review, American Economic Association, vol. 103(3), pages 121-24, May.
  4. Oh, Hyunseung & Reis, Ricardo, 2011. "Targeted transfers and the fiscal response to the great recession," CEPR Discussion Papers 8239, C.E.P.R. Discussion Papers.
  5. Jeremy C. Stein, 2012. "Monetary Policy as Financial Stability Regulation," The Quarterly Journal of Economics, Oxford University Press, vol. 127(1), pages 57-95.
  6. Philip R. Lane, 2012. "The European Sovereign Debt Crisis," Journal of Economic Perspectives, American Economic Association, vol. 26(3), pages 49-68, Summer.
  7. Alberto Alesina, 2012. "Fiscal Policy after the Great Recession," Atlantic Economic Journal, International Atlantic Economic Society, vol. 40(4), pages 429-435, December.
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