أعرض تسجيلة المادة بشكل مبسط

dc.creator Hallett, Andrew Hughes
dc.date 2004
dc.date.accessioned 2013-10-16T07:01:03Z
dc.date.available 2013-10-16T07:01:03Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/18735
dc.identifier ppn:477512178
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/18735
dc.description Fiscal policy in Britain has changed radically since the Keynesianism of the 1960s and 1970s. After a passive period under monetarism of the 1980s, fiscal policy is said to have adopted a leadership role with long term objectives (low debt, the provision of public services/ investment, and social equity), together with an independent central bank. Monetary policy, operating with instrument independence, then takes care of short run stabilisation. I test this view – confronting it with evidence from the institutional arrangements put in place since 1997; with econometric evidence from the policy responses themselves; and with theoretical evidence on the incentive to choose such a regime in the first place. I conclude that this claim is broadly correct. It appears that the UK?s improved performance is a consequence of the advantages of combining fiscal leadership with an (instrument) independent central bank. The key feature is the ability to trade target (not instrument) independence in monetary policy to secure greater coordination between fiscal and monetary strategies.
dc.language eng
dc.publisher
dc.relation CESifo working papers 1372
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject E61
dc.subject E52
dc.subject F42
dc.subject ddc:330
dc.subject Stackelberg leadership
dc.subject policy complementarity
dc.subject institutional coordination
dc.subject Finanzpolitik
dc.subject Geldpolitik
dc.subject Zentralbankautonomie
dc.subject Reaktionsfunktion
dc.subject Schätzung
dc.subject Grossbritannien
dc.title Post-Thatcher fiscal strategies in the UK : an interpretation
dc.type doc-type:workingPaper


الملفات في هذه المادة

الملفات الحجم الصيغة عرض

لا توجد أي ملفات مرتبطة بهذه المادة.

هذه المادة تبدو في المجموعات التالية:

أعرض تسجيلة المادة بشكل مبسط