Fiscal and Monetary Policy Interaction (Paperback) (ISBN-13: 9783639163285)

The government and the central bank are interconnected by a consolidated public sector budget constraint: the operational deficit of the budget is financed by new borrowings and by seigniorage. This means that, even given the central bank's formal independence of the government, the former must nevertheless take into account problems in the fiscal sphere. Thus one of the fundamental problems in the analysis of macroeconomic policy is that of the interaction between the government and the central bank in conducting fiscal and monetary policies. The thesis continues this line of inquiry. It attempts to elucidate the most general problems which may in principle arise in describing the logic of this interaction. Various results pertain to the problems of macroeconomic policy in developed countries and in economies with undeveloped financial markets

Author: Sergey Pekarski
ISBN-10: 3639163281
ISBN-13: 9783639163285
Publisher: VDM Verlag
Language: English
Published: 06/28/2009
Pages: 176
Format: Paperback
Weight: 0.59lbs
Size: 9.00h x 6.00w x 0.41d