TY - JOUR
T1 - Role of fiscal and monetary policy
AU - HO, Lok Sang
PY - 2006/2/1
Y1 - 2006/2/1
N2 - This paper applies the GS-PD framework of Ho (1988) to show that the so-called ‘battle of ideas’ between ‘Keynesians’, who believe in intervention, and the champions of the market, who believe in non-intervention, as popularly depicted, diverts attention from the crux of the matter. It shows how monetary and fiscal policies have to be coordinated in specific situations and why some macroeconomic problems may require responses beyond the purview of monetary and fiscal policies.
AB - This paper applies the GS-PD framework of Ho (1988) to show that the so-called ‘battle of ideas’ between ‘Keynesians’, who believe in intervention, and the champions of the market, who believe in non-intervention, as popularly depicted, diverts attention from the crux of the matter. It shows how monetary and fiscal policies have to be coordinated in specific situations and why some macroeconomic problems may require responses beyond the purview of monetary and fiscal policies.
UR - http://commons.ln.edu.hk/sw_master/382
UR - http://www.scopus.com/inward/record.url?scp=33645400175&partnerID=8YFLogxK
U2 - 10.1111/j.1468-0106.2006.00303.x
DO - 10.1111/j.1468-0106.2006.00303.x
M3 - Journal Article (refereed)
SN - 1361-374X
VL - 11
SP - 121
EP - 127
JO - Pacific Economic Review
JF - Pacific Economic Review
IS - 1
ER -