Is fiscal policy dead?
The paper discusses the political and administrative limitations of implementing fiscal policy as a means of achieving economic stability. Present day attitudes towards fiscal intervention are characterised by a general feeling of agnosticism. Not only has confidence waned in the ability of fiscal m...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2014-01-01
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| Series: | PSL Quarterly Review |
| Subjects: | |
| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/11518 |
| _version_ | 1811172539705065472 |
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| author | A.T. PEACOCK G.K. SHAW |
| author_facet | A.T. PEACOCK G.K. SHAW |
| author_sort | A.T. PEACOCK |
| collection | DOAJ |
| description | The paper discusses the political and administrative limitations of implementing fiscal policy as a means of achieving economic stability. Present day attitudes towards fiscal intervention are characterised by a general feeling of agnosticism. Not only has confidence waned in the ability of fiscal measures to secure macroeconomic goals, it has been argued that where fiscal changes exert noticeable and significant impacts they may do so in a distinctly perverse and de-stabilising manner. The question now facing policy administrators is whether fiscal policy may usefully be included in the armoury of countercyclical weapons wielded in defence of short-term stabilisation goals. This changed status of fiscal policy has stemmed partly from developments in theoretical economics generally on the one hand, and also from a changed view of the government objective function upon the other.
JEL: E62, E63
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| first_indexed | 2024-04-10T17:32:57Z |
| format | Article |
| id | doaj.art-df6e4e0f7a03409784b0d7160909739e |
| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-04-10T17:32:57Z |
| publishDate | 2014-01-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-df6e4e0f7a03409784b0d7160909739e2023-02-03T16:44:34ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36432014-01-013112510.13133/2037-3643/11518Is fiscal policy dead?A.T. PEACOCKG.K. SHAWThe paper discusses the political and administrative limitations of implementing fiscal policy as a means of achieving economic stability. Present day attitudes towards fiscal intervention are characterised by a general feeling of agnosticism. Not only has confidence waned in the ability of fiscal measures to secure macroeconomic goals, it has been argued that where fiscal changes exert noticeable and significant impacts they may do so in a distinctly perverse and de-stabilising manner. The question now facing policy administrators is whether fiscal policy may usefully be included in the armoury of countercyclical weapons wielded in defence of short-term stabilisation goals. This changed status of fiscal policy has stemmed partly from developments in theoretical economics generally on the one hand, and also from a changed view of the government objective function upon the other. JEL: E62, E63 https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/11518Fiscal policyeconomic stabilitypolicylimitations |
| spellingShingle | A.T. PEACOCK G.K. SHAW Is fiscal policy dead? PSL Quarterly Review Fiscal policy economic stability policy limitations |
| title | Is fiscal policy dead? |
| title_full | Is fiscal policy dead? |
| title_fullStr | Is fiscal policy dead? |
| title_full_unstemmed | Is fiscal policy dead? |
| title_short | Is fiscal policy dead? |
| title_sort | is fiscal policy dead |
| topic | Fiscal policy economic stability policy limitations |
| url | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/11518 |
| work_keys_str_mv | AT atpeacock isfiscalpolicydead AT gkshaw isfiscalpolicydead |