Monetary and Fiscal Policy for Sovereign Currencies: What Should Government Do?

L. Randall Wray

Chapter 7 in Modern Money Theory, 2015, pp 193-220 from Palgrave Macmillan

Abstract: Abstract In this chapter we will turn to what government ought to do. This chapter will specifically treat only the sovereign government that issues its own floating rate currency. From the chapters above, that will make it clear that we are addressing only a government that does not face an affordability constraint. The floating rate regime provides the greatest domestic policy space. Nations that peg or manage their exchange rates might have less policy space, depending on their own situation.

Keywords: Monetary Policy; Current Account; Fiscal Policy; Budget Deficit; Full Employment (search for similar items in EconPapers)
Date: 2015
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Chapter: Monetary and Fiscal Policy for Sovereign Currencies: What Should Government Do? (2024)
Chapter: Monetary and Fiscal Policy for Sovereign Currencies: What Should Government Do? (2012)
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DOI: 10.1057/9781137539922_8

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