The Return of Fiscal Policy and the Euro Area Fiscal Rule

The text describes the theoretical developments of the assignment rules regarding fiscal and monetary policies and the respective roles in macroeconomics stabilisation. Monetary policy emerged as the dominant policy, reducing the active macro-role of fiscal policy to taking care of debt sustainabili...

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Detalles Bibliográficos
Autor principal: Constâncio, Vítor
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Palgrave Macmillan UK 2020
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7335931/
https://www.ncbi.nlm.nih.gov/pubmed/32836738
http://dx.doi.org/10.1057/s41294-020-00122-3
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author Constâncio, Vítor
author_facet Constâncio, Vítor
author_sort Constâncio, Vítor
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description The text describes the theoretical developments of the assignment rules regarding fiscal and monetary policies and the respective roles in macroeconomics stabilisation. Monetary policy emerged as the dominant policy, reducing the active macro-role of fiscal policy to taking care of debt sustainability. This consensus started to change, and a new view has appeared, giving a more active role to fiscal policy. The article concludes with a brief analysis of fiscal rules, followed by a discussion about the European Union fiscal framework, and its necessary revision.
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spelling pubmed-73359312020-07-06 The Return of Fiscal Policy and the Euro Area Fiscal Rule Constâncio, Vítor Comp Econ Stud Article The text describes the theoretical developments of the assignment rules regarding fiscal and monetary policies and the respective roles in macroeconomics stabilisation. Monetary policy emerged as the dominant policy, reducing the active macro-role of fiscal policy to taking care of debt sustainability. This consensus started to change, and a new view has appeared, giving a more active role to fiscal policy. The article concludes with a brief analysis of fiscal rules, followed by a discussion about the European Union fiscal framework, and its necessary revision. Palgrave Macmillan UK 2020-07-06 2020 /pmc/articles/PMC7335931/ /pubmed/32836738 http://dx.doi.org/10.1057/s41294-020-00122-3 Text en © Association for Comparative Economic Studies 2020 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Article
Constâncio, Vítor
The Return of Fiscal Policy and the Euro Area Fiscal Rule
title The Return of Fiscal Policy and the Euro Area Fiscal Rule
title_full The Return of Fiscal Policy and the Euro Area Fiscal Rule
title_fullStr The Return of Fiscal Policy and the Euro Area Fiscal Rule
title_full_unstemmed The Return of Fiscal Policy and the Euro Area Fiscal Rule
title_short The Return of Fiscal Policy and the Euro Area Fiscal Rule
title_sort return of fiscal policy and the euro area fiscal rule
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7335931/
https://www.ncbi.nlm.nih.gov/pubmed/32836738
http://dx.doi.org/10.1057/s41294-020-00122-3
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