PPT-Monetary and Fiscal

Policy Economics Monetary Policy Monetary Policy The expansion or contraction of the money supply in order to influence the cost and the availability of credit Federal Reserve Privately owned publicly run central bank of the United States of America. An . International Perspective. Jeffrey Frankel. Seminar on Macroeconomic . Policy. Harvard Economics Department. April 28, 2015. “Fiscal alchemy”?. Eric . Leeper. had it . backwards:. ". Monetary science, fiscal alchemy" . Charles Wyplosz. The Graduate Institute, Geneva. Council for Budget Responsibility of Slovakia. Seminar on Macroeconomic and Fiscal Issues. Bratislava, May 5, 2014. . Do we need a fiscal union?. No. Steven Barnett. (May 2010). Summary and Outline. Inflation poses a major risk. Too high and rising. Broad-based . Not just meat prices. Also excess demand. Monetary tightening must continue. Control inflation expectations. Macro-policy and Inflation. Steven Barnett. (May 2010). Main Points. Inflation should be BOM’s main objective. Inflation outlook is worrisome. Monetary policy tightening should continue. Fiscal policy should not add to demand. Monetary Policy. Fiscal and Monetary Policy. The Nature of Fiscal Policy. THE NATURE OF FISCAL POLICY. The purpose of fiscal policy. correcting a fundamental disequilibrium. fine tuning. Government finances. unconventional monetary policy of the ECB: effectiveness versus . exhaustion”.  . António. . Mendonça. Professor of Economics. ISEG-Lisbon School of Economics & Management. Universidade. de . John Maynard Keynes & Milton Friedman. Module 35 Essential Questions. Why . was classical . macroeconomics . inadequate . for the problems posed by the Great . Depression?. How . did Keynes . and the experience of the Great Depression . Barbulean. STAGES OF INFLATION. 1. CREEPING INFLATION (0%-3%). 2. WALKING INFLATION ( 3% - 7%). 3. RUNNING INFLATION (10% - 20 %). 4. HYPER INFLATION ( 20% and abv). TYPES OF INFLATION. The Influence of Monetary and Fiscal Policy on Aggregate Demand. Monetary policy refers to the control of a country’s quantity of money by its central bank. We saw the . long-run effects. of monetary policy in Chapter 12 (Money Growth and Inflation). Module 35. Problems of Fiscal Policy. Problems of timing. recognition lag. administrative lag. operational lag. Political problems. Political business cycles. - fiscal policy may be corrupted for political purposes and may . Lessons. . for. . Monetary. . Unions. Plamen . Nikolov. (European . Commission. *). Paolo . Pasimeni. (European . Commission. * and IES-VUB). 21st Workshop on Public Finance. Rome, 20-22 March 2019. Carlos. da Silva Costa. • . Governor. . Outline. Monetary Union and Economic Growth. Reforms at national level. Reform at the European Level. Conclusions. I. Monetary Union and Economic Growth . on Public Finance. Frontiers of taxation . and taxation . across frontiers. Pietro Rizza - . Discussion 22 . March 2019. 1. The 2 . papers. . taken. . together. 2. EURO AREA FISCAL POLICY CHANGES: AN EXAMINATION OF THE PAST TWO . Jeffrey . Frankel. Harpel Professor of Capital Formation and . Growth. Harvard . Kennedy . School. 2015 Asia Economic Policy Conference. Policy Challenges in a Diverging Global. . Economy . Federal Reserve Bank of San .