Central Banks as Fiscal Players: The Drivers of Fiscal and Monetary Policy Space (Federico Caffè Lectures)
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- Synopsis
- 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.
- Copyright:
- 2021
Book Details
- Book Quality:
- Publisher Quality
- ISBN-13:
- 9781108913164
- Related ISBNs:
- 9781108842822
- Publisher:
- Cambridge University Press
- Date of Addition:
- 11/30/20
- Copyrighted By:
- Willem Buiter
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.