Fiscal Policy under Low Interest Rates
Afbeeldingen
Sla de afbeeldingen overArtikel vergelijken
Auteur:
Olivier Blanchard
- Engels
- Paperback
- 9780262544870
- 10 januari 2023
- 192 pagina's
Olivier Blanchard
"Olivier Jean Blanchard (French: [blɑ̃ʃaʁ]; born December 27, 1948) is a French economist, professor and Senior Fellow at the Peterson Institute for International Economics. He was the chief economist at the International Monetary Fund, from September 1, 2008 to October 2015. He was appointed to this position under the tenure of Dominique Strauss-Kahn. He is also Robert M. Solow Professor of Economics emeritus at MIT. At the IMF, he was succeeded by Maurice Obstfeld.
(Bron: Wikipedia. Beschikbaar onder de licentie Creative Commons Naamsvermelding/Gelijk delen.)"
(Bron: Wikipedia. Beschikbaar onder de licentie Creative Commons Naamsvermelding/Gelijk delen.)"
Samenvatting
Rethinking fiscal and monetary policy in an economic environment of high debt and low interest rates.
Policy makers in advanced economies find themselves in an unusual fiscal environment: debt ratios are historically high, andonce the fight against inflation is wonreal interest rates will likely be very low again. This combination calls for a rethinking of the role of fiscal and monetary policyand this is just what Olivier Blanchard proposes in Fiscal Policy under Low Interest Rates.
There is a wide set of opinions about the direction that fiscal policy should take. Some, pointing to the high debt levels, make debt reduction an absolute priority. Others, pointing to the low interest rates, are less worried; they suggest that there is still fiscal space, and, if justified, further increases in debt should not be ruled out. Blanchard argues that low interest rates decrease not only the fiscal costs of debt but also the welfare costs of debt. At the same time, he shows how low rates decrease the room to maneuver in monetary policyand thus increase the benefits of using fiscal policy, including deficits and debt, for macroeconomic stabilization. In short, low rates imply lower costs and higher benefits of debt.
Having sketched what optimal policy looks like, Blanchard considers three examples of fiscal policy in action: fiscal consolidation in the wake of the Global Financial Crisis, the large increase in debt in Japan, and the current US fiscal and monetary policy mix. His conclusions hold practical implications for economic and fiscal policy makers, bankers, and politicians around the world.
Policy makers in advanced economies find themselves in an unusual fiscal environment: debt ratios are historically high, andonce the fight against inflation is wonreal interest rates will likely be very low again. This combination calls for a rethinking of the role of fiscal and monetary policyand this is just what Olivier Blanchard proposes in Fiscal Policy under Low Interest Rates.
There is a wide set of opinions about the direction that fiscal policy should take. Some, pointing to the high debt levels, make debt reduction an absolute priority. Others, pointing to the low interest rates, are less worried; they suggest that there is still fiscal space, and, if justified, further increases in debt should not be ruled out. Blanchard argues that low interest rates decrease not only the fiscal costs of debt but also the welfare costs of debt. At the same time, he shows how low rates decrease the room to maneuver in monetary policyand thus increase the benefits of using fiscal policy, including deficits and debt, for macroeconomic stabilization. In short, low rates imply lower costs and higher benefits of debt.
Having sketched what optimal policy looks like, Blanchard considers three examples of fiscal policy in action: fiscal consolidation in the wake of the Global Financial Crisis, the large increase in debt in Japan, and the current US fiscal and monetary policy mix. His conclusions hold practical implications for economic and fiscal policy makers, bankers, and politicians around the world.
Productspecificaties
Wij vonden geen specificaties voor jouw zoekopdracht '{SEARCH}'.
Inhoud
- Taal
- en
- Bindwijze
- Paperback
- Oorspronkelijke releasedatum
- 10 januari 2023
- Aantal pagina's
- 192
Betrokkenen
- Hoofdauteur
- Olivier Blanchard
- Hoofduitgeverij
- Mit Press
Overige kenmerken
- Product breedte
- 152 mm
- Product hoogte
- 11 mm
- Product lengte
- 229 mm
- Studieboek
- Ja
- Verpakking breedte
- 148 mm
- Verpakking hoogte
- 14 mm
- Verpakking lengte
- 226 mm
- Verpakkingsgewicht
- 389 g
EAN
- EAN
- 9780262544870
Je vindt dit artikel in
- Taal
- Engels
- Studieboek of algemeen
- Studieboeken
- Boek, ebook of luisterboek?
- Boek
- Beschikbaarheid
- Leverbaar
Kies gewenste uitvoering
Kies je bindwijze
(2)
Prijsinformatie en bestellen
De prijs van dit product is 49 euro en 31 cent. De meest getoonde prijs is 59 euro en 99 cent. Je bespaart 18%.
Je bespaart 18%
1 - 2 weken
Verkoop door
MyBoeken.nl
- Bestellen en betalen via bol
- Prijs inclusief verzendkosten, verstuurd door MyBoeken.nl
- 30 dagen bedenktijd en gratis retourneren
- Wettelijke garantie via MyBoeken.nl
Shop dit artikel
Rapporteer dit artikel
Je wilt melding doen van illegale inhoud over dit artikel:
- Ik wil melding doen als klant
- Ik wil melding doen als autoriteit of trusted flagger
- Ik wil melding doen als partner
- Ik wil melding doen als merkhouder
Geen klant, autoriteit, trusted flagger, merkhouder of partner? Gebruik dan onderstaande link om melding te doen.