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Central Banks as Fiscal Players : The Drivers of Fiscal and Monetary Policy Space, EPUB eBook

Central Banks as Fiscal Players : The Drivers of Fiscal and Monetary Policy Space EPUB

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It is well known that the balance sheets of most major central banks significantly expanded in the aftermath of the financial crisis of 2007-2011, but the consequences of this expansion are not well understood.

This book develops a unified framework to explain how and why central bank balance sheets have expanded and what this shift means for fiscal and monetary policy.

Buiter addresses a number of key issues in monetary economics and public finance, including how helicopter money works, when modern monetary theory makes sense, why the Eurosystem has a potentially fatal design flaw, why the fiscal theory of the price level is a fallacy and how to escape from the zero lower bound.

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