Central Banks as Fiscal Players: The Drivers of Fiscal and Monetary Policy Space (Paperback) (ISBN-13: 9781108822763)

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.

Author: Willem Buiter
ISBN-10: 1108822762
ISBN-13: 9781108822763
Publisher: Cambridge University Press
Language: English
Published: 11/12/2020
Pages: 200
Format: Paperback
Weight: 0.68lbs
Size: 9.00h x 6.00w x 0.48d

Review Citation(s):
Choice 01/01/2022