U.S. fiscal policy has been going in the wrong direction for a very long time.
But fiscal policy changes don't historically work when the economy is still in a fall.
Rock-bottom interest rates mean that, economically, there is theoretically space for more expansionary fiscal policy.
In theory, a government could use monetary and fiscal policy to hold back inflation.
Compared with sorting out this lot, the macroeconomics of fiscal policy are a doddle.
Therefore, there were no instruments through which the government could conduct monetary or fiscal policy.
This drive will ultimately take away any fiscal policy levers a sovereign nation has.
Conversely, government dysfunction or misguided fiscal policy can cause self-inflicted wounds to the economy.
WHITEHOUSE: A Preview of the 2013 Economic Report of the President
Some of this focus on rules and transparency has already rubbed off on fiscal policy.
Unlike the U.S., the Eurozone does not have the luxury of a coordinated fiscal policy.
But, Volpon points out, internal demand was boosted by easy monetary and fiscal policy.
FORBES: Brazil's Strengthening Currency Poses Competition Problem
Rational fiscal policy would focus on reducing unemployment and getting the economy back on track.
China's government will be reluctant to ease monetary or fiscal policy while inflation remains high.
This comes as the airwaves are filled with discussion about aggressive monetary policy, and fiscal policy.
If things look bad at the beginning of 2013, there should be reassessment of fiscal policy.
Whatever the effects of a change in Germany's fiscal policy, the political fallout is predictable.
Growth will be modest, but monetary and fiscal policy will be kept under tight rein.
One obvious risk to a sturdy recovery is the looming effect of tighter fiscal policy.
ECONOMIST: There are promising signs that the economy is improving
They did not need a pro-cyclical fiscal policy to stave off default or devaluation.
Germany isn't about to send the Wehrmacht to Rome or Athens to enforce fiscal policy.
The slight easing of fiscal policy in last month's budget has kept up the pressure.
The implications of this new, emerging consensus among economists is clear for the fiscal policy debate.
FORBES: Academics Have Spoken, And Obamanomics Is The Path To Slow Growth
With the economy still fragile, there has been no public decision to tighten fiscal policy.
That said, if governments tighten fiscal policy too early, they risk sending economies back into recession.
Monetary policy must run parallel to fiscal policy for the economy to truly pick up.
FORBES: Bernanke Will Flood U.S. With Dollars In QE4. Now, He Needs Uncle Sam's Help
Mr Tuchtfeld calculates that fiscal policy will be neutral or even slightly expansionary in 2012.
The fund has thoughts on the substance of fiscal policy, as well as its timing.
In the neo-chartalist view of the world, fiscal policy comes to resemble monetary policy.
Only because the government tightened fiscal policy last year, they argue, has the economy suffered.
By drifting into the realm of fiscal policy and allocating credit, the Fed has lost credibility.
应用推荐