Reassessing Discretionary Fiscal Policy
Bibliographic Data
| ID | 4029347 |
|---|---|
| Authors | John B Taylor (0000-0001-7053-0080, Stanford University, Stanford, California., corresponding author) |
| Year | 2000 |
| Volume | 14 |
| Issue | 3 |
| Pages | 21-36 |
| Publication date | 2000-08-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Journal of Economic Perspectives (JOURNAL) |
| Journal identifiers | ISSN: 0895-3309 • E-ISSN: 1944-7965 |
| Publisher | American Economic Association (PUBLISHER • US) |
| DOI | 10.1257/jep.14.3.21 |
| OpenAlex | W2110122410 |
| Language | EN |
| Citations received | 27 |
| References cited | 4 |
Recent changes in policy research and in policy-making call for a reassessment of countercyclical fiscal policy. Such a reassessment indicates that countercyclical fiscal policy should focus on automatic stabilizers rather than discretionary actions. Monetary policy has been reacting more systematically to output and inflation; long expansions in the 1980s and 1990s demonstrate policy effectiveness. It is unlikely that discretionary countercyclical fiscal policy could improve things, even with less uncertainty about fiscal impacts. A discretionary countercyclical fiscal policy could make monetary policy making more difficult. Discretionary fiscal policy should focus on long-run issues, such as tax reform and social security reform
Economic policy · Economics · Fiscal policy · Fiscal union · Macroeconomics · Monetary economics · Monetary policy · Public economics · Social security · Tax policy · Tax reform · Economic Theory and Policy · Fiscal Policies and Political Economy · Monetary Policy and Economic Impact
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Reassessing Fiscal Policy
| Unique citing works | 27 |
|---|---|
| Citations per year | 1 |
| Citation span | 1999 - 2026 (28) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 23 |