The New View on fiscal policy (as coined by Furman 2016) represents a rethinking of the main-stream consensus on the optimal macroeconomic policy mix. It focuses on a reassessment of the relative effectiveness of fiscal policy and its ability to stabilise the economy when monetary policy reaches...

The impacts of fluctuations of exchange rates of foreign hard currencies are well documented in economics literature. There are measures taken over by countries to absorb their impacts on income, employment and national economies ability to function and produce. However, distortions are observed...

The 2012-13 Budget, which provides for an increase in taxes of $ 39 billion and a reduction in expenditures of $ 7 billion, is strongly contractionary, reducing aggregate demand by about 2 per cent. The government deserves praise for starting the process of fiscal consolidation in a possible...

This paper investigates the effect of fiscal consolidation on GDP per capita following the 2008 Financial Crisis and European Debt Crisis. I use the synthetic control method to assess the GDP performance of three European countries that pursued large quantities of fiscal consolidation: Greece,...

The New View on fiscal policy (as coined by Furman 2016) represents a rethinking of the mainstream consensus on the optimal macroeconomic policy mix. It focuses on a reassessment of the relative effectiveness of fiscal policy and its ability to stabilize the economy when monetary policy reaches...

This paper investigates the effect of the Federal Reserve's unconventional monetary policy on employment via a bank lending channel. We find that banks with higher mortgage-backed securities holdings issued relatively more loans after the first and third rounds of quantitative easing (QE1 and...

For the past few years there has been a call to raise the Federal Minimum Wage to $15.00 per hour. The purpose of this article is to remind the reader that a wage earner receives the higher of the Federal, State, City, and in many cases the private sector company’s minimum wage. But more...

Nowadays, society is increasingly asking questions about the conduct of macroeconomic policy in developing countries. But what is the scope for macroeconomic management in developing countries? Should international financial institutions that assist developing countries rely heavily on it? The...

The New View on fiscal policy (as coined by Furman 2016) represents a rethinking of the main-stream consensus on the optimal macroeconomic policy mix. It focuses on a reassessment of the relative effectiveness of fiscal policy and its ability to stabilise the economy when monetary policy reaches...

This paper investigates the potential impacts of the degree of divergence in open macroeconomic policies in the context of the trilemma hypothesis. Using an index that measures the extent of policy divergence among the three trilemma policy choices—monetary independence, exchange rate...