Fiscal Policy: International Aspects, Short and Long-Term Challenges and Macroeconomic Effects

Charles Amo-Yartey, PhD (Editor)
IMF Resident Representative in Liberia, African Department, International Monetary Fund, Washington DC, USA

Series: Monetary, Fiscal and Trade Policies
BISAC: BUS045000

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$255.00

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Edited by I Leslie Rubin, Robert J Geller, Abby Mutic, Benjamin A Gitterman, Nathan Mutic, Wayne Garfinkel, Claire D Coles, Kurt Martinuzzi, and Joav Merrick

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Fiscal policy is an important factor influencing the growth performance of countries. However, compared to the large empirical literature on the effects of monetary policy on economic activity, fiscal policy has received less attention. In this book, the authors present current research in the study of fiscal policy and the macroeconomy as well as the challenges of fiscal policy in the current global environment. The book brings a global perspective to the practice of fiscal policy by presenting case studies from the United States, the European Union, and the Caribbean.

Topics discussed in the book include international dimensions of fiscal policy, public debt and the economy, austerity versus stimulus and economic growth, the correction of economic imbalances in Europe, the long term impact of fiscal devaluation, the cyclicality of fiscal policy, the appropriate debt ceilings for small states, lessons from the banking union framework in the Euro Area, fiscal policy and competitiveness, policy lessons from debt restructuring in Jamaica, estimating the structural fiscal balance in small islands and fiscal policy rules and fiscal performance. (Imprint: Nova)

Preface

Fiscal Policies and the Macroeconomy: An Overview
(Charles Amo-Yartey, Western Hemisphere Department, International Monetary Fund, Washington DC, USA)

International Dimensions of Fiscal Policy
(Gilbert Koenig, and Irem Zeyneloglu, Strasbourg University, France)

Can an Economy Work without Public Debt?
(S³awomir I. Bukowski, Head of the Department of International Business & Finance within the structure of the Faculty of Economics in K. Pu³aski University of Technology and Humanities in Radom, Poland. Deputy Rector in K. Pulaski University of technology and Humanities in Radom)

Stimulus or Austerity: Which Policy is a Road to a Healthy Economy?
(Rafael Yanushevsky and Camilla Yanushevsky, University of Maryland and Research and Technology Consulting)

Productivity or Demand Shocks and Correction of Current Account Imbalances in the EMU
(Séverine Menguy, Ecole Normale Supérieure de Cachan in France)

On the Long-Term Impact of a Fiscal Devaluation: An Application to the Portuguese Case
(Alfredo M. Pereira, Rui M. Pereira, and Pedro G. Rodrigues, College of William and Mary, and others)

The Cyclicality of Fiscal Policy in Good and Bad Times
(Yehenew Endegnanew, Research Officer in the External Economic Analysis and International Relations Directorate at the National Bank of Ethiopia)

What is the Appropriate Debt Ceiling for Small States?
(Nkunde Mwase, Senior Economist at the International Monetary Fund, Central Bank of Tanzania)

How to Avoid a Darkening Debt Storm in the Caribbean: Lessons from the Banking Union Framework in the Euro Area
(Andrew Hughes Hallett and Svend E. Hougaard Jensen, Professor of Economics at George Mason University, USA, and Professor of Economics, Copenhagen Business School, Denmark)

Fiscal Policy and Competiveness in the Caribbean
(Wendell Samuel, International Monetary Fund)

Policy Lessons from Postmortems of Jamaica’s Two Recent Debt Exchanges
(R. Brian Langrin, Senior Director and the Head of the Financial Stability Department at the Bank of Jamaica)

Estimating the Structural Fiscal Balance in Small Islands: A Case Study of Grenada
(Nkunde Mwase and Sheila Bassett, Senior Economist at the International Monetary Fund, Central Bank of Tanzania)

Fiscal Policy Rules and Fiscal Performance: Country Experiences and Lessons
(Charles Amo-Yartey and Joel Chiedu Okwuokei, Western Hemisphere Department, International Monetary Fund, Washington DC, USA, and others)

Index

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