The authors use a stylized model of the economy to analyze how permanent and temporary increases in government expenditure--and the timing of taxation used to finance them--affect aggregate output and other variables that describe the economy.

This exploratory issue paper begins with a statement by Joseph Stiglitz, Nobel Laureate in Economic Sciences, which outlines what a well-functioning global financial system would achieve, followed by his dry statement that the current global financial system does none of these things. The paper...

An essay, written in 1779-80, concerning the relationship between money growth, government liability issues, and inflation.