New challenges for monetary and fiscal policies
Jerry L. Jordan (soundmoney@mac.com)
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Jerry L. Jordan: Pacific Academy for Advanced Studies
International Journal of Economic Policy Studies, 2019, vol. 13, issue 2, No 2, 275-284
Abstract:
Abstract As a result of the “Global Financial Crisis” of 2008, the traditional tools of monetary and fiscal policies were broken and cannot be restored. New approaches to formulating and implementing monetary policies have been adopted, but there is no empirically supported evidence of the effectiveness of the new tools. Whether or not there is an acceleration of inflation or a return to deflation, it will neither be a result of central bank actions, nor can such be combated with monetary or fiscal policies. The decade-old debates about reliable targets and indicators of stabilization policies will have to be waged once again before confidence in the effectiveness of new policies and approaches can be restored.
Keywords: Central banks; Monetary policy; Fiscal policy; Inflation (search for similar items in EconPapers)
JEL-codes: E42 E52 E58 E62 (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1007/s42495-019-00015-z
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