Fiscal Operations in a Nation That Issues Its Own Currency

L. Randall Wray

Chapter 4 in Modern Money Theory, 2012, pp 110-147 from Palgrave Macmillan

Abstract: Abstract In this chapter we will begin to examine our next topic: government spending, taxing, interest rate setting, and bond issue — that is, we will examine fiscal policy for a government that issues its own currency. Note that it is not possible to completely separate fiscal policy from monetary policy, especially in the area of the issue of treasury debt. We will therefore include in this chapter interest-targeting operations by the central bank.

Keywords: Exchange Rate; Interest Rate; Central Bank; Foreign Currency; Budget Deficit (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1057/9781137265142_4

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