Some thoughts on practical stabilization policy

Article Abstract:

The principles and procedure on stabilization policy essentially changed after Milton Friedman's Presidential Address to the American Economic Assn in 1968. Stabilization policy was considered a game-theoretic problem instead of being a control-theory problem. Economists' thoughts on the cyclical functions of monetary and fiscal policies also changed. Countercyclical discretionary fiscal policy was no longer advantageous or politically viable. The arguments on stabilization policy centered around monetary policy.

Economic Views, Laws, regulations and rules, Economic policy, Economic stabilization, Friedman, Milton

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Constitutional rules and fiscal policy outcomes

Article Abstract:

The effect of electoral rules on fiscal policy results are investigated taking into consideration a number of democracies. It is found that parliamentary democracies induce larger governments than presidential regimes.

Constitutional amendments

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Interactions of commitment and discretion in monetary and fiscal policies

Article Abstract:

The inconsistency and non-cooperative monetary and fiscal policies and their impact on out put and prices are analyzed.

Prices

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