Rethinking Stabilization Policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Rethinking Stabilization Policy write by . This book was released on 2002. Rethinking Stabilization Policy available in PDF, EPUB and Kindle.
Rethinking Stabilization Policy
Rethinking Stabilization Policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Rethinking Stabilization Policy write by The Federal Reserve Bank. This book was released on 2003-11-01. Rethinking Stabilization Policy available in PDF, EPUB and Kindle. For some time, the use of monetary and fiscal policies to smooth business cycle fluctuations has taken a back seat to longer-term objectives of restoring price stability and fiscal balance. Many policymakers and academic economists have held the view that fiscal policy had little or no short-run stabilization role and that monetary policy should give priority to maintaining price stability. More recently, however, weaker economic performance in some of the world's economies, most notably in Japan and the United States, has led to renewed interest in the use of short-run stabilization policy. The Federal Reserve Bank of Kansas City sponsored a symposium, "Rethinking Stabilization Policy," at Jackson Hole, Wyoming, on August 29-31, 2002. The symposium brought together a distinguished group of central bank officials, academic economists, and business economists to discuss the potential scope for stabilization policy in today's new environment. Our goal for this symposium was straight-forward, although hardly simple. It was to provide a forum to discuss the roles of monetary and fiscal stabilization policies, their effectiveness, and their limitations. And finally, so as not to lose sight of a consensus from earlier meetings, we analyzed these stabilization policies' compatibility with long-run price stability and fiscal sustainability, which are critical to the success of any economy - industrial or emerging. Thomas M. Hoenig President Federal Reserve Bank of Kansas City
Rethinking Stabilization Policy
Rethinking Stabilization Policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Rethinking Stabilization Policy write by Stanley Fischer. This book was released on 2005-09-01. Rethinking Stabilization Policy available in PDF, EPUB and Kindle. Contents: Opening Remarks, by Alan Greenspan; The Evolution of Economic Understanding & Postwar Stabilization Policy, by Christina Romer & David Romer; Is There a Role for Discretionary Fiscal Policy?, by Alan Auerbach; Monetary Policy in a Changing Economic Environment, by Otmar Issing & Yukata Yamaguchi; Monetary Policy in a Changing Environment: The Latin American Experience, by Giullermo Ortiz; Monetary Policy & Real Stabilization, by Lars Svensson; Should the European Central Bank & the Federal Reserve Be Concerned About Fiscal Policy?, by Matthew Canzoneri, Robert Cumby, & Behzad Diba; & Overview Panel: David Dodge, Jacob Frenkel, & Frederic Mishkin.
Rethinking Stabilization Policy
Rethinking Stabilization Policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Rethinking Stabilization Policy write by Olivier J. Blanchard. This book was released on 2017. Rethinking Stabilization Policy available in PDF, EPUB and Kindle. The obvious lesson from the Great Financial Crisis is that the financial system matters and financial crises will probably happen again. The second, more general, lesson is that the economy is often not self-stabilizing. These two lessons, together with an environment where neutral interest rates are likely to remain low, have clear implications for the design of stabilization policies. At a minimum, they suggest that policies may need to become more aggressive, both ex-ante and ex-post, with a rebalancing of the roles of monetary, fiscal and financial policies. In particular, while low neutral rates decrease the scope for using monetary policy, they increase the scope for using fiscal policy. Think of such rebalancing as evolution. If however, neutral rates become even lower, or financial regulation turns out to be insufficient to prevent crises, more dramatic measures, including larger fiscal deficits, revised monetary policy targets, or sharper restrictions on the financial system, may be needed. Think of this as revolution. Time will tell.
The Wreck Of Economic Stabilization Policies
The Wreck Of Economic Stabilization Policies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Wreck Of Economic Stabilization Policies write by Roosevelt Lian. This book was released on 2021-08-15. The Wreck Of Economic Stabilization Policies available in PDF, EPUB and Kindle. A stabilization policy seeks to limit erratic swings in the economy's total output, as measured by the nation's gross domestic product (GDP), as well as controlling surges in inflation or deflation. Stabilization of these factors generally leads to healthy levels of employment. In this book, internationally renowned economist launches a massive attack against the conventional macroeconomic policies. He demasks the claim that macroeconomic policy is to stabilize the economy. He reveals that this claim implies the assumption that the market economy is inherently unstable, and asks: what if when it is not the market economy but politics which produces instability? What if when the policy managers fabricate the opposite of their claim? What if when they do not smoothen the business cycle but make it more extreme? What if monetary policy does not cure inflation but instigates the erosion of the purchasing power of money?
