00000cam a2200000 i 4500 UP-99796217613727932 Buklod 20230202094213.0 a r |||| u| ta 230202s2014 nyuad er 001 0 eng d 9781606497227 (pbk.) (iLib)UPD-00524272088 Pu-29697 PhP2,861.75 DCPA rda eng HJ 141 N34 2014 Naghshpour, Shahdad author Fiscal policy within the IS-LM framework. New York Business Expert Press 2014 xiii, 139 pages 23 cm text rdacontent unmediated rdamedia volume rdacarrier Includes bibliographical references and index A brief history of fiscal theory Section I. Background and fundamental theories 1. A brief history of fiscal theory 2. Politics and fiscal policy 3. Two blades are better than one: the role of IS-LM Section II. Interest rate and fiscal theory 4. The role of interest rate in fiscal policy 5. Liquidity preference 6. Operation and effectiveness of fiscal policy 7. Questioning Keynesian theory Section III. Schools of thought in fiscal theory 8. New Keynesian school 9. Post Keynesian Section IV. The evidence 10. Empirical evidence regarding fiscal policy 11. Conclusion Glossary Notes References Index Undoubtedly, what happens to the economy affects the lives of the citizens of a country, and often the lives of people in other countries around the globe. In addition to natural disasters two things affect the economy more than anything else: monetary and fiscal policies. Fiscal policy and monetary policy represent forms of government intervention to influence market performance. Fiscal policy relates to government spending and revenue collection; monetary policy relates to the supply of money, which is controlled by factors such as reserve requirements and interest rates. If there were a universally accepted set of rules that prescribe appropriate actions to bring and sustain prosperity to the economy the study of economics would have been a positive science, as opposed to a collection of normative beliefs. The study of these policies is normative in nature because fiscal and monetary policies do not necessarily impact everyone equally or in the same way. In other words not everybody loses or gains equally as the result of fiscal and monetary policies. Nevertheless, there are non-normative economic theories that explain the expected outcome of specific fiscal or monetary policies. The economists that advocate for fiscal or monetary policies generally agree on the economic consequences produced by each policy when implemented. What differentiates the economists is the degree to which they believe in the effectiveness of the policy, their ability to know the extent of the need that it is intended to address, the proper amount of intervention required in order to effect the desired correction, and the length of the time it would take to see the consequence of the policy. Finance, Public. Fiscal policy. Economics. Public Fiscal Administration. PA 131. Public Fiscal Administration. PA 231. Book FO UPD DCPA HJ 141 N34 2014 Book