Reinventing Fiscal Policy

  title={Reinventing Fiscal Policy},
  author={Philip Arestis and Malcolm Sawyer},
Recent developments in macroeconomic policy, in terms of both theory and practice, have elevated monetary policy while downgrading fiscal policy. Monetary policy has focused on the setting of interest rates as the key policy instrument, along with the adoption of inflation targets and the use of monetary policy to target inflation. Elsewhere, we have critically examined the significance of this shift, which led us to question the effectiveness of monetary policy. We have also explored the role… CONTINUE READING
Highly Cited
This paper has 20 citations. REVIEW CITATIONS

From This Paper

Topics from this paper.


Publications referenced by this paper.
Showing 1-10 of 31 references

The Effectiveness of Fiscal Policy in Stimulating Economic Activity: A Review of the Literature.

  • R. Hemming, M. Kell, S. Mahfouz
  • IMF Working Paper 02/208. Washington D.C…
  • 2002
Highly Influential
10 Excerpts

Keynesian Policies for the New Millennium,

  • P. Arestis, M. Sawyer
  • Economic Journal
  • 1998
Highly Influential
6 Excerpts

Fiscal Policy and Economic Activity in Advanced Economies.

  • R. Hemming, S. Mahfouz, A. Schimmelpfennig
  • IMF Working Paper 02/87
  • 2002
2 Excerpts

When Unemployment Disappears: Ireland in the 1990s.

  • B. M. Walsh
  • CESIFO Working Paper No. 856,
  • 2002
1 Excerpt

Capital Stock, Unemployment and Wages in the UK and Germany.

  • P. Arestis, I. Biefang-Frisancho Mariscal
  • Scottish Journal of Political Economy
  • 2000

Similar Papers

Loading similar papers…