Role of fiscal and monetary policy
Document Type
Journal article
Source Publication
Pacific Economic Review
Publication Date
2-1-2006
Volume
11
Issue
1
First Page
121
Last Page
127
Publisher
Wiley-Blackwell Publishing Asia
Abstract
This paper applies the GS-PD framework of Ho (1988) to show that the so-called ‘battle of ideas’ between ‘Keynesians’, who believe in intervention, and the champions of the market, who believe in non-intervention, as popularly depicted, diverts attention from the crux of the matter. It shows how monetary and fiscal policies have to be coordinated in specific situations and why some macroeconomic problems may require responses beyond the purview of monetary and fiscal policies.
DOI
10.1111/j.1468-0106.2006.00303.x
Print ISSN
1361374X
E-ISSN
14680106
Publisher Statement
Copyright © 2006 Blackwell Publishing Ltd
Access to external full text or publisher's version may require subscription.
Full-text Version
Publisher’s Version
Language
English
Recommended Citation
Ho, L. S. (2006). Role of fiscal and monetary policy. Pacific Economic Review, 11(1), 121-127. doi: 10.1111/j.1468-0106.2006.00303.x