商品簡介
The role of fiscal policy in short-run macroeconomic stabilization is, by now, well known in the academic literature and in policy circles. However, this focus on the short-run, especially in a democracy, means that much less attention has been paid to the other consequences of the use of fiscal policy. These include not only the long-run consequences of fiscal policy but also its intergenerational and welfare effects as well.
The book fills this gap and examines fiscal policy in dynamic economies, that is, economies in which not only the short run matters but in which intergenerational and long-run considerations figure prominently as well. In particular, the book considers the positive and normative effects of fiscal policy in closed economies as well as open economies in both the short run and long run. In addition, it looks at the effects of fiscal policy in which the interaction between fiscal policy and monetary policy becomes important. Such interactions arise when fiscal policy is financed by money seigniorage or when monetary policy has an effect on fiscal policy.
作者簡介
Kim Heng Tan obtained his Bachelor of Engineering from the University of Adelaide, Master of Commerce from the University of New South Wales and PhD in Economics from the University of Sydney. He wrote his PhD thesis, "Public Policies in Dynamic Open Economies", under the supervision of eminent international trade theorist Alan Woodland. He taught economics at the University of New South Wales and Macquarie University in Australia before joining Nanyang Technological University (NTU). He has published in internationally refereed journals. He is now retired from NTU but still teaches Macroeconomics for the MSc (Applied Economics) programme at NTU.
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