Sustaining Domestic Budget Deficits in Open Economies
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A01=Farrokh Langdana
aggregate
Aggregate Demand Aggregate Supply
Aggregate Supply Curve
Author_Farrokh Langdana
Case Asymmetric Information
Case Ii
Category=KCB
creation
Current Account Balance
Current Account Deficits
Discretionary Stabilization Policy
Domestic Budget Deficits
Domestic Inflation Rate
Domestic Money Creation
Domestic Price Level
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
exchange rate dynamics
Federal Reserve
fiscal sustainability
foreign capital flows
government
Government Debt
interest
International Policy Co-ordination
International Policy Coordination
Labour Demand Curve
Laffer Curve
level
macroeconomic policy analysis
monetary
monetary-fiscal interaction
money
Nominal Exchange Rates
open economy deficit modelling
policy
price
rational expectations theory
Real Interest Rate
Real Interest Rate Effects
spending
Supply Side Policies
Ta Ge
Ta Te
Vice Versa
West Germany
Product details
- ISBN 9780415037358
- Weight: 453g
- Dimensions: 138 x 216mm
- Publication Date: 07 Dec 1989
- Publisher: Taylor & Francis Ltd
- Publication City/Country: GB
- Product Form: Hardback
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In recent times the US economy has been characterised by burgeoning budget and current account deficits and increasing amounts of foreign capital inflows. For the UK too, the budget deficit remains a central weakness in the economy.
In the light of these problems this book presents a consistent economic framework for analysing the effects and implications of large bond-financed deficits. The author uses an open-economy rational expectations model to explore to what extent governments can simply 'roll-over' debt by issuing more bonds without any help from the monetary authority. He examines too, the impact of foreign capital on the sustainability of domestic budget deficits the behaviour of exchange rates and the possible effects of fiscal and monetary policies. This model is placed in the context of the major economic orthodoxies and their competing stances and also of American monetary history from Truman to Reagan and the crash of 1987.
Focusing attention on a major problem in macroeconomics and for the chancellors of a number of economies, the book makes an important contribution to the understanding of this complex area.
