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Book synopsis

This book provides a much-needed re-examination of monetary and fiscal policies, their application in the real world and their potential for macroeconomic policy in the 21st century. It provides a detailed discussion and critique of the 'new consensus' in macroeconomics along with the monetary and fiscal policies encapsulated within it. The authors argue that monetary policy is an ineffective means of controlling inflation and, if not used properly, can also have detrimental effects on the supply-side of the economy. They further contend that fiscal policy remains a potent instrument for influencing aggregate demand. Using detailed analysis the authors emphasise the role of capacity constraints as possible inflation barriers and argue against the NAIRU as a labour market phenomenon. The book concludes by eritically examining the economic policies of the European Economic and Monetary Union. Written by two of the leading scholars in the field, this provocative new volume is concise, well argued and rich in new insights. It will interest all those concerned with the current problems and future development of monetary and fiscal policy.

Book details

Book category Books in English Economics, finance, business & management Economics Macroeconomics

• Full title: Re-examining Monetary and Fiscal Policy for the 21st Century
• Author: Philip Arestis, Malcolm C. Sawyer
• Language: English
• Binding: Hardback
• Number of pages: 224
• EAN: 9781843765837
• ID: 04855492
• Publisher: Edward Elgar Publishing Ltd
• Weight: 499 g
• Dimensions: 234 × 156 × 23 mm
• Date of publishing: 27. October 2004

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