This paper argues that the usual framing of discussions of money, monetary policy, and fiscal policy plays into the hands of conservatives. That framing is also largely consistent with the conventional view of the economy and of society more generally. To put it the way that economists usually...

The recent implementation of the social program "Universal Child Allocation for Social Protection” is an important step towards alleviating the children and adolescents vulnerability situation and a way to improve their household income. At the same time it set a new paradigm in the...

Przedmiotem artykulu jest rola panstwa w gospodarce rynkowej, widziana z perspektywy przeobrazen w pracy spolecznej. Ekonomiczna tresc pracy spolecznej z natury rzeczy czyni panstwo podmiotem gospodarujacym, ktory jako emanacja i reprezentant spoleczenstwa ponosi odpowiedzialnosc za jego rozwoj...

This paper examines the relationship between fiscal policy and the current account, drawing on a larger country sample than in previous studies and using panel regressions, vector autoregressions, and an analysis of large fiscal and external adjustments. On average, a strengthening in the fiscal...

This paper examines two main aspects of the interaction between fiscal and monetary policy in emerging market economies. First, it explores the interest rate-inflation relationship in economies with different levels of external and domestic public debt using panel- and crosssection data. The...

The staff report for the 2007 Article IV Consultation highlights Turkey’s economic revival and policies to entrench macroeconomic stability. Turkey has experienced an impressive economic revival in recent years. Exports have continued to gain market shares, as the effects of an...

This paper proposes a probabilistic approach to public debt sustainability analysis (DSA) using "fan charts." These depict the magnitude of risks-upside and downside-surrounding public debt projections as a result of uncertain economic conditions and policies. We propose a simulation algorithm...

In response to the worst economic crisis since the 1930s, government budgets and central banks have provided substantial support for aggregate demand and for the financial sector. In the process, fiscal balances have deteriorated, government liabilities and central bank balance sheets have been...