Role of fiscal and monetary policy

Lok Sang HO

Research output: Journal PublicationsJournal Article (refereed)peer-review

2 Citations (Scopus)


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.
Original languageEnglish
Pages (from-to)121-127
Number of pages7
JournalPacific Economic Review
Issue number1
Publication statusPublished - 1 Feb 2006


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