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Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook x Economic History x clear all

The consequences of fiscal stimulus on public debt: a historical perspective

W. D. McCausland and I. Theodossiou.

in Cambridge Journal of Economics

July 2016; p ublished online September 2015 .

Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Macroeconomics and Monetary Economics; Growth and Fluctuations. 6969 words.

The current policy agenda of neoclassical macroeconomics, as expressed within conservative political circles in the UK and European Union, is that fiscal contraction is the lever that can...

Editors’ introduction

Christopher Bowdler and Rui Pedro Esteves.

in Oxford Review of Economic Policy

January 2013; p ublished online December 2013 .

Journal Article. Subjects: History of Financial Markets and Institutions; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 516 words.

In this short article we provide an introduction to the issue of the Oxford Review of Economic Policy entitled ‘Sovereign Debt: Lessons from the Past, Reforms for the Future’.

Identifying Government Spending Shocks: It's all in the Timing*

Valerie A. Ramey.

in The Quarterly Journal of Economics

February 2011; p ublished online February 2011 .

Journal Article. Subjects: Economic History; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 12544 words.

Standard vector autoregression (VAR) identification methods find that government spending raises consumption and real wages; the Ramey–Shapiro narrative approach finds the opposite. I show...

Keynes and the confidence faeries

John Considine and David Duffy.

in Cambridge Journal of Economics

January 2016; p ublished online December 2014 .

Journal Article. Subjects: National Budget, Deficit, and Debt; Macroeconomics and Monetary Economics; Growth and Fluctuations; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; History of Economic Thought (1925 onwards). 9518 words.

Budgetary constraints were never the primary object of policy for John Maynard Keynes. They were constraints, not objectives. However, Keynes identified the psychological channels through...

The liquidation of government debt

Carmen M. Reinhart and M. Belen Sbrancia.

in Economic Policy

April 2015; p ublished online March 2015 .

Journal Article. Subjects: Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Prices, Business Fluctuations, and Cycles; Macroeconomics and Monetary Economics; Growth and Fluctuations; International Finance; National Budget, Deficit, and Debt; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Macroeconomic Aspects of International Trade and Finance. 17204 words.

High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression (FR), a tax on bondholders and savers via negative or...

The oil trading markets, 2003–10: analysis of market behaviour and possible policy responses

Adair Turner, Jon Farrimond and Jonathan Hill.

in Oxford Review of Economic Policy

January 2011; p ublished online January 2011 .

Journal Article. Subjects: Economics; Prices, Business Fluctuations, and Cycles; Economic History; Energy Economics; General Equilibrium and Disequilibrium; Market Structure and Pricing; Information, Knowledge, and Uncertainy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 14356 words.

This paper considers price movements in the oil markets between 2003 and 2010 and seeks to explain the significant trends in this period. It notes that the oil market is by its very nature...

Political Influence on Fiscal and Monetary Policy in Sub-Saharan Africa

Rebecca Neumann and John Ssozi.

in Journal of African Economies

January 2016; p ublished online August 2015 .

Journal Article. Subjects: Prices, Business Fluctuations, and Cycles; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Development Planning and Policy; Macroeconomics and Monetary Economics; Growth and Fluctuations; Capitalist Systems. 18120 words.

This article examines the extent to which political variables affect budget deficits, money growth and inflation in Sub-Saharan Africa (SSA). Using the Arellano–Bond dynamic panel data...

The rise and fall of money manager capitalism: a Minskian approach

L. Randall Wray.

in Cambridge Journal of Economics

July 2009; p ublished online July 2009 .

Journal Article. Subjects: Economics; Prices, Business Fluctuations, and Cycles; Money and Interest Rates; Financial Institutions and Services; Monetary Policy, Central Banking, and the Supply of Money and Credit; General Aggregative Models; Capitalist Systems; Macroeconomics and Monetary Economics; Growth and Fluctuations; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 12961 words.

We are in the midst of a global financial crisis accompanied by a deep and probably long-lasting economic downturn; indeed, some analysts are already calling this the first depression of...

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Sovereign debt: the assessment

Christopher Bowdler and Rui Pedro Esteves.

in Oxford Review of Economic Policy

January 2013; p ublished online December 2013 .

Journal Article. Subjects: History of Financial Markets and Institutions; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 8015 words.

This article serves as an introduction to two issues of the Oxford Review of Economic Policy, one entitled ‘Sovereign Debt: Understanding Bond Markets During the Eurozone Crisis’ and the...

What ended the Great Depression? Re-evaluating the role of fiscal policy

Nathan Perry and Matías Vernengo.

in Cambridge Journal of Economics

March 2014; p ublished online August 2013 .

Journal Article. Subjects: Macroeconomics and Monetary Economics; Growth and Fluctuations; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 11114 words.

Conventional wisdom contends that fiscal policy was of secondary importance for the economic recovery in the 1930s. The recovery is then connected to monetary policy that allowed...

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