Is There a Stabilizing Role for Fiscal Policy in the New Consensus?

被引：22

作者：

Setterfield, Mark ^{[1
]}

机构：

[1] Trinity Coll, Dept Econ, Hartford, CT 06106 USA

来源：

REVIEW OF POLITICAL ECONOMY | 2007年 / 19卷 / 03期

关键词：

D O I：

10.1080/09538250701453105

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper considers the possibility of using fiscal rather than monetary policy as the instrument of stabilization policy in a new consensus framework. Describing the conduct of fiscal policy in terms of a 'pseudo Taylor rule', it is shown that fiscal policy is as, if not more, effective than monetary policy as a tool for macroeconomic stabilization. The conclusion reached is that the comparative neglect of fiscal policy as an instrument of stabilization policy in new consensus macroeconomics is unwarranted.

引用

页码：405 / 418

页数：14

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