Reinventing Fiscal Policy

@article{Arestis2003ReinventingFP,
  title={Reinventing Fiscal Policy},
  author={P. Arestis and M. Sawyer},
  journal={Macroeconomics eJournal},
  year={2003}
}
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… Expand
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