Central Banks as Fiscal Players : The Drivers of Fiscal and Monetary Policy Space
Book Details
Format
Paperback / Softback
Book Series
Federico Caffe Lectures
ISBN-10
1108822762
ISBN-13
9781108822763
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Nov 12th, 2020
Print length
200 Pages
Weight
336 grams
Dimensions
15.20 x 22.80 x 1.70 cms
Product Classification:
Monetary economics
Ksh 5,800.00
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The book develops a unified framework to address a number of key issues in monetary economics and public finance, including how helicopter money works, when modern monetary theory makes sense, why the Eurosystem has a potentially fatal design flaw, why the fiscal theory of the price level is a fallacy and how to escape from the zero lower bound.
It is well known that the balance sheets of most major central banks significantly expanded in the aftermath of the financial crisis of 2007-2011, but the consequences of this expansion are not well understood. This book develops a unified framework to explain how and why central bank balance sheets have expanded and what this shift means for fiscal and monetary policy. Buiter addresses a number of key issues in monetary economics and public finance, including how helicopter money works, when modern monetary theory makes sense, why the Eurosystem has a potentially fatal design flaw, why the fiscal theory of the price level is a fallacy and how to escape from the zero lower bound.
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