Measuring the Effects of Monetary and Fiscal Policy Changes on the U.S. Economy (1982-2012)

Michael D. Evans () and Trevor Chamberlain ()
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Michael D. Evans: DeGroote School of Business, McMaster University, Canada
Trevor Chamberlain: DeGroote School of Business, McMaster University, Canada

Review of Economics & Finance, 2014, vol. 4, 1-14

Abstract: This paper investigates the relationship between economic policy goals and the monetary and fiscal policy tools used to achieve them. A background is provided regarding current economic policy including an explanation of how a monetary and fiscal policy is formed and modified. A multiple regression analysis is conducted to measure the relationship between economic policy goals and the tools used to achieve them; the evidence suggests that there is a strong relationship between the two. It is further determined that it¡¯s necessary for the government and Federal Reserve to pay close attention to the policy tool variables studied, when making informed decisions regarding economic policy.

Keywords: Economic policy; Monetary & fiscal policy; Economic indicator (search for similar items in EconPapers)
JEL-codes: E52 E61 E62 (search for similar items in EconPapers)
Date: 2014
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