Confidence, credibility, and macroeconomic policy: past, present, future

✍ Scribed by Richard Burdekin, Farrokh Langdana

• Publisher: Routledge
• Year: 1995
• Tongue: English
• Leaves: 234
• Edition: 1
• Category: Library

✦ Synopsis

Confidence, Credibility and Macroeconomic Policy is divided into three sections. Part I is an overview of the inter-relationship between fiscal policy and credibility and inflation. Part II focuses on empirical research and presents historical as well as contemporary evidence on the importance of public confidence and expectations to the success of fiscal and monetary policy. Part III examines the definitions and functions of consumer confidence as it is measured today.

✦ Table of Contents

Book Cover......Page 1
Title......Page 4
Contents......Page 5
List of figures......Page 11
List of tables......Page 12
Foreword by the Honourable Ruth Richardson MP......Page 14
Acknowledgements......Page 18
Introduction......Page 20
Fiscal policy, credibility and inflation: The critical role of confidence factors......Page 28
Bond-financed deficits, taxation and expectations: An experimental test of the Ricardian equivalence theorem......Page 53
Monetary credibility and national output: An experimental verification of the Lucas 'islands' explanation of business cycles......Page 70
Public confidence and public finance during the American Civil War: Lessons from North and South......Page 84
Deficit finance, expectations and real money balances: The operation of the inflation tax in Germany after the First World War......Page 115
Does exchange rate pegging foster monetary credibility? The European Monetary System and the 1980s disinflation......Page 135
Consumer confidence in today's macroeconomy: Definition, measurement and potential importance......Page 164
Consumer confidence and the optimal timing of effective monetary stabilisation......Page 173
Consumer confidence and domestic fiscal stabilisation......Page 183
Notes......Page 195
Bibliography......Page 212
Index......Page 226