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Fiscal Responsibility and Monetary Policy - for iPod/iPhone The Open University
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Why do economies go into recession, and what should policymakers do? How do governments use money to influence the economy?
Over the past century governments have used a variety of strategies to avoid economic instability, and the current economic crisis has been handled very differently from the Great Depression, the last comparable global downturn. Getting the balance right - between government spending and taxation, low inflation and low unemployment, low interest rates for borrowers and rewards for savers - is difficult in practice, and the subject of ongoing debate in economic theory.
In this collection, leading economists briefly summarise their views on fiscal responsibility and competing approaches to monetary policy.
The material in this collection relates to DD209 - Running the economy
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Fiscal Response and Stimulus
Nicholas Crafts (Professor of Economics, Warwick University) discusses fiscal response.
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Transcript -- Fiscal Response and Stimulus
Nicholas Crafts (Professor of Economics, Warwick University) discusses fiscal response.
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Aggregate Demand
Roger Farmer (Professor of Economics, University of California Los Angeles) questions Keynesian ideas on aggregate demand
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Transcript -- Aggregate Demand
Roger Farmer (Professor of Economics, University of California Los Angeles) questions Keynesian ideas on aggregate demand
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State Intervention
Stewart Lansley, economist and financial journalist, discusses State Intervention
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Transcript -- State Intervention
Stewart Lansley, economist and financial journalist, discusses State Intervention
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