On the Effectiveness of Fiscal Policy as an Instrument of Macroeconomic Policy

3 Pages Posted: 27 Apr 2009

See all articles by Philip Arestis

Philip Arestis

University of Cambridge - Department of Land Economy; Universidad del País Vasco (UPV/EHU)

John McCombie

University of Cambridge - Department of Land Economy

Abstract

This paper demonstrates that fiscal policy is an effective and essential instrument of stabilisation macroeconomic policy. This is particularly so if it is co-ordinated with monetary policy, especially in the current worldwide economic situation.

Suggested Citation

Arestis, Philip and McCombie, John S. L., On the Effectiveness of Fiscal Policy as an Instrument of Macroeconomic Policy. Economic Affairs, Vol. 29, Issue 1, pp. 77-79, March 2009. Available at SSRN: https://ssrn.com/abstract=1375955 or http://dx.doi.org/10.1111/j.1468-0270.2009.01872.x

Philip Arestis (Contact Author)

University of Cambridge - Department of Land Economy ( email )

19 Silver Street
Cambridge, CB3 9EP
United Kingdom

Universidad del País Vasco (UPV/EHU)

Barrio Sarriena s/n
Leioa, Bizkaia 48940
Spain

John S. L. McCombie

University of Cambridge - Department of Land Economy ( email )

19 Silver Street
Cambridge, CB3 9EP
United Kingdom

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