Monetary policy has less room to maneuver when interest rates are close to zero, while expansionary fiscal policy is likely both more effective and less costly in terms of increased debt burden when interest rates are pinned at low levels.
The great thing about fiscal policy is that it has a direct impact and doesn't require you to bind the hands of future policymakers.
I don't see any change in fiscal policy.
If we have a common currency, the main regulator for policy in the country is the fiscal policy.
I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.
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