Berglund / Vernengo The Means to Prosperity

Fiscal Policy Reconsidered
Erscheinungsjahr 2007
ISBN: 978-1-135-99163-0
Verlag: CRC Press
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 320 Seiten

Reihe: Routledge International Studies in Money and Banking

While recent developments in monetary theory have been fast to spread to policy analysis and practice and the media, the same is not true of fiscal policy, and a void has emerged. Issues such as timing, cyclical adjustments, long-term sustainability, and social implications are often seen as detached from discussions in the public arena.

This book fills this gap. It delivers a keen assessment of the role and scope of current fiscal policy. New contributions and critical reviews of state of the art research analyze fiscal policy in terms of viability, potency, consequences and sustainability, and also shed light on its relation to economic and political ideas.

The general tone of this volume is cautiously favourable of fiscal activism, although the emphasis is placed more on medium-term adjustments than on short-term ‘fine-tuning’. The authors believe that the legacy of the last fiscal revolution has been an excessively negative view of deficits and debt, and believe that this volume will contribute to open a dialogue on fiscal issues, and bring back a more balanced view of fiscal policy. With contributions from leading authorities including Barbara Bergmann, Jeffrey Frankel and David Colander, this is a major new contribution to the field.

Autoren/Hrsg.

Berglund, Per Gunnar

Vernengo, Matias

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein

Inhaltsverzeichnis

List of figures

List of tables

List of contributors

Acknowledgments

Preface by James K. Galbraith

1 Introduction

Per Gunnar Berglund and Matias Vernengo

Part I. Fiscal policy strikes back

2 The case for fiscal policy

Philip Arestis and Malcolm Sawyer

3 A fiscal policy to counter recessions: triggered transfers to households

Laurence S. Seidman and Kenneth A. Lewis

4 Integrating sound finance with functional finance

David Colander and Peter Hans Matthews

5 Regime change for the US Federal budget

Max B. Sawicky

Part II. Fiscal policy in the periphery

6 Grappling with fiscal reform: the case of the Dominican Republic

Esteban Pérez Caldentey

7 Endogenous Fiscal Crises: Theory and Brazilian Experience

Matias Vernengo

8 Fiscal programming and alternatives in debt management: the Turkish experience

Ebru Voyvoda

Part III. Fiscal policy for our grandchildren

9 Paradox of Thrift and Budget in a Simple Keynesian Growth Model

Per Gunnar Berglund

10 Budget deficits, unemployment and economic growth: a cross-section time-series analysis

Robert Eisner

11 Debt sustainability in the European Monetary Union: theory and empirical evidence for selected countries

Alfred Greiner, Uwe Koeller and Willi Semmler

12 Varieties of Fiscal Stimulus: A Conflicting Claims Analysis

Alan G. Isaac

Part IV. What are the questions?

13 The political economy of the deficit (roundtable session)

Barbara R. Bergmann, Jeffrey A. Frankel, William A. Niskanen, Laurence S. Seidman (participants); Matias Vernengo (moderator); with an introduction by Per Gunnar Berglund and Matias Vernengo

14 The final word on fiscal policy (interview)

Robert Eisner; with an introduction by Per Gunnar Berglund

Über Autor(innen)

Matias Vernengo is Assisstant Professor of Economics at the University of Utah, Salt Lake City, USA.