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Thursday, June 20, 2019
 Startseite » Ökonomie  » Ökonomische Analyse  » Makroökonomie 
Whither New Consensus Macroeconomics? The role of government and fiscal policy in modern macroeconomics
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Whither New Consensus Macroeconomics? The role of government and fiscal policy in modern macroeconomics

22 Seiten · 3,40 EUR
(Oktober 2009)

 
Ich bin mit den AGB, insbesondere Punkt 10 (ausschließlich private Nutzung, keine Weitergabe an Dritte), einverstanden und erkenne an, dass meine Bestellung nicht widerrufen werden kann.
 
 

In “Whither New Consensus Macroeconomics? The role of government and fiscal policy in modern macroeconomics” Giuseppe Fontana considers one of the main criticisms of the NCM, namely the absence of any essential role for the government and fiscal policy. Given the size of the public sector and the increasing role of fiscal policy in modern economies, this simplifying assumption of the NCM model is difficult to defend. This chapter argues that conventional arguments used to support this controversial assumption, including historical reasons, theoretical propositions, or practical issues do not have solid foundations. There is in fact nothing inherently monetary in the nature of stabilisation policies in the model. Fiscal policy could play a role at least as important as monetary policy in the NCM model, Fontana concludes.

zitierfähiger Aufsatz aus ...
Macroeconomic Policies on Shaky Foundations – Whither Mainstream Economics?
Eckhard Hein, Torsten Niechoj, Engelbert Stockhammer (eds.):
Macroeconomic Policies on Shaky Foundations – Whither Mainstream Economics?
the author
Prof. Giuseppe Fontana
Giuseppe Fontana

Professor of Monetary Economics at the University of Leeds, UK.