Handbook of Monetary and Fiscal Policy

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CRC Press, Dec 19, 2001 - Political Science - 1856 pages
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Examines the politics of economic policy, focusing on forecasting, inflation, interest rates, market expectations, financial crises, disruptions in global markets, and tax policy, as well as state and local government budgeting, financial management, and policy initiatives for development and growth.
 

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Contents

PRESERVING ECONOMIC STABILITY
1
Its Still a Puzzle
25
Lessons
42
Changes in the Business Cycle
63
Why Is Financial Stability a Goal of Public Policy?
69
Perspectives from Economic Theory
87
Social Norms and Economic Theory
117
Should We Worry About
135
Is It Useful for Monetary Policy?
875
What Is the Optimal Rate of Inflation?
883
What Are the Lags in Monetary Policy?
913
Interest Rates and Monetary Policy
927
Real Interest Rates
957
Index
986
Contents of Companion Volume
xiv
The Experience of the Past
1003

Architect of Modern
143
Perspective
159
Forecasting and Measuring Economic Activity
189
Interest Rate Spreads as Indicators for Monetary Policy
205
A Dynamic Multivariate Model for Use in Formulating Policy
211
Is Less More?
229
The Next Step for Monetary Policy
253
Political Dimensions of Economic Policy
261
Federal Reserve Independence and the Accord of 1951
271
Describing Fed Behavior
281
A Bursting Bubble
293
Goals and Instruments
299
An Introduction
307
Malcolm Bryan and the Introduction
321
The Goals of U S Monetary Policy
343
A Twentieth Century Odyssey
363
Lessons on Monetary Policy from the 1980s
379
Monetary Policy in the 1990s
399
Is a Tough Central Bank Enough?
405
A Hitchhikers Guide to Understanding Exchange Rates
411
Inflation and Economic Policy
417
Inflation and Growth
423
Economic Activity and Inflation
443
Inflation Financial Markets and Capital Formation
449
Is Noninflationary Growth an Oxymoron?
477
Conducting Monetary Policy with Inflation Targets
485
The Shadow of the Great Depression and the Inflation of the 1970s
513
Lessons
539
Globalization and U S Inflation
577
On the Origin and Evolution of the Word Inflation
593
Controlling Inflation
625
Is Inflation Dead?
641
Central Bank Inflation Targeting
657
Wage Inflation and Worker Uncertainty
709
Financial Markets and Institutions
733
The European System of Central Banks
739
Economic Factors Monetary Policy and Expected Returns
757
What Did
771
The October 1987 Crash Ten Years Later
787
Financial Crises and Market Regulation
813
The Role of Public
819
Implementation of Monetary Policy
829
Practical Issues in Monetary Policy Targeting
857
The Evidence on Government Competition
1023
The Great Depression in the United States from a Neoclassical
1035
Some Observations on the Great Depression
1065
Tax Policy and Taxes
1073
Distortionary Taxes and the Provision of Public Goods
1087
Lessons from the 1980s
1101
Budgeting and Accounting
1125
Risk Assessment in Government Capital Budgeting
1167
What Fiscal Surplus?
1193
Implications for the Federal
1199
Policymakers Respond to the Surplus
1221
Accounting for Capital Consumption and Technological Progress
1243
Can the Stock Market Save Social Security?
1251
Generational Accounting in Open Economies
1257
Generational Equity and Sustainability in U S Fiscal Policy
1277
Financing and Debt
1287
How the U S Treasury Should Auction Its Debt
1295
What Do the Recent Models and Results
1309
An Analysis of Potential Treasury Auction Techniques
1327
Auctioning Treasury Securities
1341
Managing the Public Debt
1347
Federal Deficits and Financing the National Debt
1359
State and Local Debt Policy and Management
1407
Developing Formal Debt Policies
1433
Municipal Bond Ratings and Municipal Debt Management
1441
Practices and Issues
1493
of Pennsylvania Municipal Authorities
1521
Implications of TaxExempt Municipal
1539
The Conditional
1607
ECONOMIC POLICY GROWTH AND EMPLOYMENT
1621
Economic Development and Growth
1631
Programmatically
1653
The State of the Economic
1671
Fiscal Pressures and the Privatization of Local Services
1693
Theories of Interjurisdictional Competition
1713
Implementation of Fiscal Policy
1743
Whats Luck Got to Do with It?
1749
Money Fiscal Discipline and Growth
1755
Does Fiscal Policy Matter?
1761
Index
1767
Index
1770
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