Monetarism versus fiscalism: towards reconciliation

Authors

  • J. ASCHHEIM

DOI:

https://doi.org/10.13133/2037-3643/11481

Keywords:

Monetary policy, fiscal policy, public-finance theory, monetary theory, monetarism, fiscalism

Abstract

The comparative effectiveness of monetary policy versus fiscal policy persists as a subject of widely noted discussion, and recently apparently conflicting hypothesis have been offered to explain the relative potency of each of these policies. The present article reexamines this issue, placing the current controversy in perspective by bringing to bear  pertinent work in public-finance theory as well as in monetary theory. In so doing, the author finds that not only is a reconciliation between Monetarism and Fiscalism possible but that, in the crucial case of the antidote to depression, Monetarism and Fiscalism coincide. 

 

JEL: E52, E62, E63

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Published

2014-01-03

How to Cite

ASCHHEIM, J. (2014). Monetarism versus fiscalism: towards reconciliation. PSL Quarterly Review, 28(114). https://doi.org/10.13133/2037-3643/11481

Issue

Vol. 28 No. 114 (1975)

Section

Editorial

License

 
 
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