Some Unsettled Questions in Monetary Macroeconomics

Steven Pressman () and John Smithin ()

Chapter Chapter 1 in Debates in Monetary Macroeconomics, 2022, pp 1-22 from Springer

Abstract: Abstract John Stuart Mill first wrote about unsettled questions in political economy. Following Mill, this introduction to our book examines 5 macroeconomic controversies—(1) rules versus discretion in monetary policy, (2) whether governments should balance their budgets, (3) whether taxes are inflationary or recessionary, (4) whether countries should seek to run trade surpluses, and (5) should nations adopt fixed or flexible exchange rates. Rather than taking a position on these policy issues, the book sets out both sides of the debate. Two scholars address each issue, taking opposing viewpoints. The book thus presents a debate about macroeconomic policy but does not seek to resolve any unsettled questions. Readers are left to make up their own mind on these issues.

Keywords: Discretionary monetary policy; Monetary rules; Balanced budget; Impact of taxation; Trade surplus; Fixed versus flexible exchange rates (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-11240-9_1

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DOI: 10.1007/978-3-031-11240-9_1

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