{"product_id":"central-banks-as-fiscal-players-the-drivers-of-fiscal-and-monetary-policy-space-hardback-9781108842822","title":"Central Banks as Fiscal Players; The Drivers of Fiscal and Monetary Policy Space (Hardback) 9781108842822","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eCentral Banks as Fiscal Players\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eThe Drivers of Fiscal and Monetary Policy Space\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003eThis book develops a unified framework to address a number of key issues in monetary economics and public finance.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eWillem Buiter (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781108842822, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 12 November 2020\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e200 pages\u003cbr\u003e15 x 23 x 1.5 cm, 0.4 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e'Recommended.' M. H. Lesser, Choice Magazine\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eIt is well known that the balance sheets of most major central banks significantly expanded in the aftermath of the financial crisis of 2007-2011, but the consequences of this expansion are not well understood. This book develops a unified framework to explain how and why central bank balance sheets have expanded and what this shift means for fiscal and monetary policy. Buiter addresses a number of key issues in monetary economics and public finance, including how helicopter money works, when modern monetary theory makes sense, why the Eurosystem has a potentially fatal design flaw, why the fiscal theory of the price level is a fallacy and how to escape from the zero lower bound.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eIntroduction\u003cbr\u003e 1. The central bank balance sheet: why it matters\u003cbr\u003e Appendix to chapter 1: stochastic discount factors\u003cbr\u003e 2. A stylized set of accounts for the Treasury, the central bank and the State\u003cbr\u003e 3. Helicopter money drops\u003cbr\u003e 4. The fallacy of the fiscal theory of the price level – and why it matters\u003cbr\u003e Appendix to chapter 4: a formal approach to the FTPL\u003cbr\u003e 5. Life at the zero lower bound and how to escape from it\u003cbr\u003e 6. Why the Eurosystem isn't a proper central bank – and how to make it one.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Monetary economics [\u003ca title=\"See our other books on Monetary economics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Monetary%20economics%20%5BKCBM%5D%22\"\u003eKCBM\u003c\/a\u003e], Macroeconomics [\u003ca title=\"See our other books on Macroeconomics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Macroeconomics%20%5BKCB%5D%22\"\u003eKCB\u003c\/a\u003e], Economics, finance, business \u0026amp; management [\u003ca title=\"See our other books on Economics, finance, business \u0026amp; management\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Economics,%20finance,%20business%20\u0026amp;%20management%20%5BK%5D%22\"\u003eK\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46005560869144,"sku":"9781108842822","price":57.79,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9781108842822i.jpg?v=1696727695","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/central-banks-as-fiscal-players-the-drivers-of-fiscal-and-monetary-policy-space-hardback-9781108842822","provider":"Freshly Printed Books","version":"1.0","type":"link"}