PPT-The Role of Fiscal Policy

The MacroEconomics of European Economies MSc in Economic Policy Studies John FitzGerald March 2015 Course Outline How does an economy work JF 1612015 The genesis of macroeconomics AM 2312015. Presentation to Wim Drees Foundation for Public Finance. Conrad Smewing. Deputy Director, Fiscal Policy and Statistics. April 2011. UNCLASSIFIED. Overview of presentation. Origin of the UK fiscal deficit. Example:. Your role says:. . “. Unemployed software engineer. Happy to be hired again. Celebrates by remodeling his kitchen.. ”. You need to write lines:. “. I am a software engineer with a degree from the University of Michigan. It was tough finding a job this past year, but then Google offered me a great position, earning six figures. I. 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" . Changes in federal taxes and purchases . Where does the government spend its money?. Federal Government . Spending, 2010. Fiscal Policy. An Overview of Government Spending and Taxes. The Federal Government’s Share of Total Government Expenditures, . Federal budget process and recent history of outlays, tax revenues, deficits, and debts. Supply-Side Economics. Controversies on effects of deficits on investment, saving, and economic growth. Fiscal policy as a stabilization tool. 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. What is Fiscal Policy?. What is Fiscal Policy Used For?. What is Fiscal Policy?. Changes in government spending and tax collections to achieve: . full employment, . control inflation, and . encourage economic growth.. . Policy. U. nit Overview. The Government Budget. Sources of government revenue. Types of government expenditures. The budget outcome. The. Role of Fiscal Policy. Fiscal policy and short-term demand management. and . Secondary Effects. Alternative Views of Fiscal Policy – An Overview. Alternative Views of Fiscal Policy. Keynesians stress the potency of fiscal policy and its use to maintain . AD . at a level consistent with full employment.. and the . Historical . Development of Macroeconomics. The Historical Evolution . of Macroeconomics. The Great Depression . and . Macroeconomics. The Great Depression exerted a huge impact . on macroeconomics. The Purpose of Macroeconomic Policy. Most economists believe that it takes the economy a decade or longer to self-correct. Economists like Keynes believe in . active stabilization. , use of government policy to reduce the severity and length of recessions or to rein in excessive expansions. Chapter 15. Section 1. What is Fiscal Policy?. Fiscal Policy. is the federal government’s use of taxing and spending to keep the economy stable. . -Government spending has a large impact on the economy. Fiscal Policy. Simply put…the Government’s use of taxing and spending to . stimulateor. contract the economy. Background Terms. Deficit… results from an unbalanced budget (12 months). Debt…continues to build…what you owe. which was laid before the Houses of Parliament . on February 14, 2023. . . . Auditor General’s Comments. Auditor General’s Responsibilities. Section 48B (6) of the FAA Act requires the Auditor General to...