Should Central Banks Care About Fiscal Rules?

Eric Leeper

No 22800, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This essay aims to explain the nature of monetary and fiscal policy interactions and how those interactions could inform the fiscal rules that countries choose to follow. It makes two points: (1) monetary policy control of inflation requires appropriate fiscal backing; (2) European fiscal frameworks appear unlikely to provide the necessary fiscal backing.

JEL-codes: E31 E5 E62 E63 (search for similar items in EconPapers)
Date: 2016-11
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
Note: EFG
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Citations: View citations in EconPapers (10)

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