 The Macroeconomic Framework for Managing Public FinancesRichard Hemming Chapter 1 in The International Handbook of Public Financial Management, 2013, pp 17-37 from Palgrave Macmillan Abstract: Abstract This chapter is about the macroeconomic analysis of fiscal policy, or macrofiscal analysis, which is concerned with how fiscal policy affects macroeconomic outcomes and how macroeconomic considerations influence fiscal policy choices. Much that is written about this subject may seem somewhat divorced from what most PFM practitioners do in their everyday work, be it as PFM advisors or government officials with PFM responsibilities. However, while the core of this chapter is about traditional macrofiscal topics — the macroeconomic consequences of fiscal deficits, debt sustainability, fiscal targeting and adjustment, countercyclical fiscal policy, approaches to promoting fiscal discipline — it both begins and ends by discussing the important ways in which macrofiscal analysis and PFM interact. This does not mean that PFM practitioners have to master all the issues discussed below, but they need to be aware of these interactions so that PFM can be placed in its proper macroeconomic and fiscal policy context. Keywords: Central Bank; Fiscal Policy; Debt Ratio; Fiscal Deficit; Fiscal Rule (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-31530-4_2 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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