Issues In The Coordination Of Monetary And Fiscal Policy
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Issues In The Coordination Of Monetary And Fiscal Policy
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Author : Alan S. Blinder
language : en
Publisher:
Release Date : 1982
Issues In The Coordination Of Monetary And Fiscal Policy written by Alan S. Blinder and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Fiscal policy categories.
This paper examines issues in the current debate over coordination between fiscal and monetary policies. Section I1 uses the traditional targets-instruments approach to assess the potential gains from greater coordination. Since greater coordination is often equated with looser money and tighter fiscal policy, two econometric models of the economy are used to estimate the quantitative importance of the policy mix. Expectational effects that arise from the government budget constraint are also analyzed. Section III shows that our attitudes toward the non- coordination problem may be quite different depending on why policies were not coordinated to begin with, and argues that there are plausible circumstances under which it may be better to have uncoordinated policies. Section IV turns to the design of a coordination system. The game-theoretic aspects of having two independent authorities are stressed, and I offer a general reason to expect that uncoordinated behavior will result in tight money and loose fiscal policy even when both parties would prefer easy money and tight fiscal policy. Finally, Section, considers the old "rules versus discretion" debate from the particular perspective of this paper
Generic Study On Monetary And Fiscal Policy Co Ordination
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Author : Vijayakumar Honnungar
language : en
Publisher: GRIN Verlag
Release Date : 2011-06-23
Generic Study On Monetary And Fiscal Policy Co Ordination written by Vijayakumar Honnungar and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-23 with Business & Economics categories.
Research Paper (postgraduate) from the year 2010 in the subject Economics - Finance, grade: A, The ESC Rennes School of Business (-), course: MSc, language: English, abstract: This paper attempts to study the importance of both Monetary Policy and Fiscal Policy in the international context. And also to understand the chemistry between Monetary and Fiscal policy and extent to which the coordination can be achieved. In any open economy, Monetary policy is designed, formulated and being conducted by the central Bank, wherein the National Planning or Ministry of Finance of the respective country is responsible for designing, formulating and conducting the Fiscal policy for the nation. This research paper finds that there is a close linkage between Monetary and Fiscal policy and hence the proper coordination leads to addressing today's biggest talk of nation‟s deficit. Currently there is an abundance of literature available on both Monetary and Fiscal policy. There is also good number of books available containing plethora of information on the subject. This research paper addresses the importance, impact, and issues of Monetary and Fiscal policy in open economy.
International Coordination Of Fiscal Policies
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1988-08-04
International Coordination Of Fiscal Policies written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-08-04 with Business & Economics categories.
International coordination of macroeconomic policies has attracted much attention in recent years. The main issue has been whether economic performance can be improved by coordination Although it is still a controversial issue many economists have argued that coordination would make a positive contribution to economic performance. This paper deals with the requirements for successful fiscal coordination. It concludes that those requirements are such that the best fiscal policies that countries can pursue are those aimed at putting their houses in order.
Coordination Of Monetary And Fiscal Policies
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1998-03-01
Coordination Of Monetary And Fiscal Policies written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-03-01 with Business & Economics categories.
Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
The Coordination Of Monetary And Fiscal Policies In Egypt
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Author : Faika Refaie
language : en
Publisher:
Release Date : 2001
The Coordination Of Monetary And Fiscal Policies In Egypt written by Faika Refaie and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Fiscal policy categories.
Coordination Of Monetary And Fiscal Policy In A Monetary Union
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Author : Matthew B. Canzoneri
language : en
Publisher:
Release Date : 2008
Coordination Of Monetary And Fiscal Policy In A Monetary Union written by Matthew B. Canzoneri and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
The European Monetary Union raises new and interesting questions about the coordination of monetary and fiscal policy. In this lecture, I discuss some of these questions and the answers that a new class of models - new neoclassical synthesis (NNS) models - is currently giving to them. I will argue that the new questions expose some weaknesses in current NNS modeling; in particular, the models do not seem to explain the positive correlation between national inflation and growth differentials that has been observed in the European data. I also review some recent work that has been done on policy coordination within a currency union.
International Coordination Of Fiscal Policies
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Author : Vito Tanzi
language : en
Publisher:
Release Date : 1988
International Coordination Of Fiscal Policies written by Vito Tanzi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Economic policy categories.
International Coordination Of Economic Policies
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1988-06-29
International Coordination Of Economic Policies written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-06-29 with Business & Economics categories.
This paper discusses the scope, methods, and effects of international coordination of economic policies. In analyzing the scope for and of coordination, the paper addresses the rationale for coordination, barriers to coordination, the range and specificivity of policies to be coordinated, and the frequency of coordination. In evaluating the methods of coordination, the emphasis is on the broad issues of rules versus discretion, single-indicator versus multi-Indicator systems, and hegemonic versus symmetric systems. Finally, using the MULTIMOD global macroeconomic model, some simulations are presented of several rule-based proposals for coordination.
Dynamic Modeling Of Monetary And Fiscal Cooperation Among Nations
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Author : Joseph E.J.K Plasmans
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-04-25
Dynamic Modeling Of Monetary And Fiscal Cooperation Among Nations written by Joseph E.J.K Plasmans and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-04-25 with Business & Economics categories.
Dynamic Modeling of Monetary and Fiscal Cooperation Among Nations analyzes coordination of monetary and fiscal stabilization policies between countries and currency areas using a dynamic game approach. The first four chapters introduce the reader to the dynamics of fiscal and monetary policy cooperation. Issues covered include: fiscal coordination, fiscal stringency requirements, structural and bargaining power asymmetries and the design of monetary and fiscal policymaking in a monetary union. In the four last chapters multiple-player settings with aspects of fiscal and/or monetary coordination are analyzed using the endogenous coalition formation approach. The analysis is focused on shock and model asymmetries and issues of multi-country coordination in the presence of (possibly many) monetary unions.
Monetary Policy Coordination And The Role Of Central Banks
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Author : Rakesh Mohan
language : en
Publisher: International Monetary Fund
Release Date : 2014-04-29
Monetary Policy Coordination And The Role Of Central Banks written by Rakesh Mohan and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-04-29 with Business & Economics categories.
The unconventional monetary policies (UMPs) pursued by the advanced economies (AEs) have posed macroeconomic challenges for the emerging market economies (EMEs) through volatile capital flows and exchange rates. AE central banks need to acknowledge and appreciate the spillovers resulting from such UMPs. Central banks of the AEs, who have set up standing mutual swap facilities, should explore similar arrangements with other significant EMEs with appropriate risk mitigation measures. These initiatives could do much to actually curb volatility in global financial markets and hence in capital flows to EMEs, thus obviating the need for defensive policy actions on the part of EMEs.