The meaning of FISCAL POLICY is the financial policy of a government particularly as regards the budget and the method and timing of borrowings and especially in relation to central-bank credit policy.
During a press conference on September 24, Pan Gongsheng, Governor of the People's Bank of China, announced three critical monetary policy changes: the reduction of the reserve requirement ratio and policy interest rates; reductions in existing mor...
We use our new metric to examine the contribution of fiscal policy to growth in real GDP over the course of the Great Recession and current expansion. We compare this contribution to the contributions to growth in aggregate demand made by fiscal policy over past business cycles. In doing so,...
We evaluate the effects of inequality, fiscal policy, and COVID19 restrictions in a model of economic slack with potentially rigid capital operating costs. Rich households satiate their demand for goods/services (and consume an endowment on the margin), whereas poor households’ spending on goods/...
Answer to: Describe in detail the main expansionary fiscal policy tools that the government can use to expand an economy during a recession period...
European Monetary Union (EMU) has long been considered an important part of the European integration process, albeit a highly ambitious one. Provisions for the coordination of monetary policies in the European Community (EC) were already included in the
We study optimal fiscal policy in a small open economy (SOE) with sovereign and private default risk. The SOE's government uses linear taxation to fund exogenous expenditures and uses public debt to inter-temporally allocate tax distortions. We characterize a class of environments in which the ta...
As their economies are heavily integrated, fiscal policy in one EU country may have large spillovers to other member states’ economies; these spillovers are generally not internalised (Eyraud et al., 2017). Moreover, with the creation of the European Economic and Monetary Union (EMU), member...
BEIJING, May 17 (Xinhua) -- Chinese Finance Minister Liu Kun has vowed bolder and more effective measures to implement the government's proactive fiscal policy. China's fiscal policy remains proactive this year, but is bolder in terms of tax and fee cuts and focuses more on efficiency in th...