USING MACROECONOMIC AND STRUCTURAL POLICIES TO ATTAIN MACROECONOMIC OBJECTIVES

Joshua E Greene

Chapter 10 in Macroeconomic Analysis and Policy:A Systematic Approach, 2018, pp 183-212 from World Scientific Publishing Co. Pte. Ltd.

Abstract: As mentioned in Chapter 1 of this book, most governments aim to achieve several broad macroeconomic objectives. These include operating near potential output and attaining an acceptable level of economic growth; achieving relative price stability (low inflation); and maintaining a sustainable external position, meaning a sound balance of payments and a modest level of external debt. We can group these objectives under two broad headings: macroeconomic stability and growth. Stability implies operating close to potential output, with low inflation and a sustainable external position. To be compatible with stability, growth must allow the economy to expand at a rate consistent with potential output, without threatening excessive inflation or an unsustainable balance of payments as productive capacity expands…

Keywords: Macroeconomics; Macroeconomic Data; Macroeconomic Policy; Macroeconomic Objectives; Macroeconomic Accounts; Macroeconomic and Structural Policies (search for similar items in EconPapers)
JEL-codes: E60 (search for similar items in EconPapers)
Date: 2018
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