In any case, if counter-cyclical fiscal policy is to work, speed is crucial.

ECONOMIST: Economics focus: Remember fiscal policy? | The

So Mr Williamson's plan sits best with the view that fiscal policy should also have a strong counter-cyclical role.

ECONOMIST: Off target

The basic policy conclusion of the rational expectations hypothesis is that counter-cyclical monetary and fiscal policies affect real GDP and unemployment only if they are unanticipated.

FORBES: Thomas Sargent, Rational Expectations And The Keynesian Consensus

Once countries can no longer use monetary policy to moderate national highs and lows in economic activity, fiscal policy will need to assume a greater, nationally differentiated, counter-cyclical role.

ECONOMIST: Europe��s new economics