Coordination or Dominance of Fiscal and Monetary Policy in Egypt
نویسندگان
چکیده
منابع مشابه
Fiscal versus Monetary Dominance: Evidence from Iran
In this paper, we dealt with fiscal dominance, which is a situation in which the fiscal authority sets its expenditure and taxes without regard to any requirement of intertemporal budget balance. Therefore, the monetary authority must adjust its policies to ensure that the government budget is in balance. The existence of oil revenues for the government on the one hand and its lack of access to...
متن کامل2 Issues in the Coordination of Monetary and Fiscal Policy
Now, as often in the past, there are complaints from all quarters about the lack of coordination between monetary and fiscal policy. Indeed, the feeling that monetary and fiscal policies are acting at cross purposes is quite prevalent. This attitude, I think, reflects dissatisfaction with the current mix of expansionary fiscal policy and contractionary monetary policy, which pushes aggregate de...
متن کاملPolicy Games: Coordination and Independence in Monetary and Fiscal Policies
No ONE WOULD dream of designing the human anatomy by disconnecting the controls of the left and right sides of the body. Yet, for the most important economic controls in a modern economy, monetary and fiscal policies, economists today generally endorse the separation of powers as a way of optimizing noninflationary growth. What are the costs and benefits of coordination and independence in macr...
متن کاملWelfare Improving Coordination of Fiscal and Monetary Policy
The paper considers a simple model in which monetary and scal policies are formally independent, but still interdependent through spillovers of macroeconomic outcomes. It shows that the average equilibrium levels of ination, de cit, debt, and output depend on the two policies (i) potency (elasticity of output with respect to the policy instruments); (ii) ambition (the level of their output t...
متن کاملOptimal Fiscal and Monetary Policy
We study optimal fiscal and monetary policy in an environment where explicit frictions give rise to valued money, making money essential in the sense that it expands the set of feasible trades. Our main results are in stark contrast to the prescriptions of earlier flexible-price Ramsey models. The two most important findings that emerge from our work are that the Friedman Rule is typically not ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: International Journal of Economics and Finance
سال: 2019
ISSN: 1916-9728,1916-971X
DOI: 10.5539/ijef.v11n12p28