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N° 100 |
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| Issue 4, 2004 |
| Recent
Developments in Macroeconomic Analysis: Reviving the Case for Stabilisation Policies |
| Jean-Philippe Cotis |
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| This paper surveys
developments in the positive and normative analysis of stabilisation policies
over the past fifteen years as well as their influence on the actual conduct of
policies. It is found that, from an analytical perspective, there is now a well-founded
case for prudent stabilisation policies, with already successful applications
in the area of monetary policy. On the fiscal side, however, better analysis has
not translated yet into markedly improved policies due to serious political impediments.
To conclude, the paper also briefly touches upon the potential macroeconomic benefits
of recent changes in monetary policy regimes. |
Abstract |
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Full Text |
| Stabilisation;
policy mix; monetary policy |
Keywords |
| E61
; E63 ; E52 |
JEL classification |
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