search query: @indexterm fiscal policy / total: 505
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| Author: | Hall, S. Henry, B. Nixon, J. |
| Title: | Central Bank independence and co-ordinating monetary and fiscal policy |
| Journal: | Economic Outlook
1999 : FEB, VOL. 23:2, p. 7-13 |
| Index terms: | Banking Monetary policy Fiscal policy United Kingdom |
| Language: | eng |
| Abstract: | The article reviews the arguments that granting a central bank independence to set monetary policy leads to low inflation. An extension considers the problem arising if monetary and fiscal policy are not co-ordinated. There is a strategic analysis needed to assess this. It is found that an uncoordinated policy may lead to less growth than a co-ordinated one. The main effects of this lack of co-ordination are an over-valued exchange rate and a reduction in net trade. |
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