This conference assessed our understanding of the effects and effectiveness of fiscal policy, drawing on postwar policy experience and recent economic research. Is fiscal policy an appropriate tool for short-run, macroeconomic stabilization? Has public policy helped to give rise to economic behaviors, such as “over-consumption,” that tend to produce persistent budget and trade deficits? What are the longer-run consequences of these deficits? And how should policymakers respond?
The collected papers presented at this conference were published in The Macroeconomics of Fiscal Policy (MIT Press, February 2006).
Introduction: The Macroeconomics of Fiscal Policy
Order The Macroeconomics of Fiscal Policy from MIT Press
Monday, June 14
Cathy E. Minehan
President and Chief Executive Officer
Federal Reserve Bank of Boston
Tuesday, June 15
Cathy E. Minehan
Can Fiscal Policy Improve Macro Stabilization?
What can we learn from the literature and postwar historical experience: Are there fiscal policies that are effective and successful in the short run? How has the answer to this question changed over time? Why? What evidence supports the conclusion, either across time or countries? Does the answer depend on the particular fiscal instruments used?
Alan S. Blinder
|Presenter:||Alan J. Auerbach
Robert D. Burch Professor of Tax Policy and Public Finance
University of California, Berkeley
W. Elliot Brownlee
Van Doorn Ooms
Rudolph G. Penner
(note time change from 7:00 p.m.)
Reception and Dinner
Wednesday, June 16
|Presenter:||Benjamin M. Friedman
William Joseph Maier Professor of Political Economy
Barry P. Bosworth
Jeffrey A. Frankel
Catherine L. Mann
Alice M. Rivlin
The Fourth Boston University/Boston Fed Conference on Macro-Finance Linkages
Recent Developments in Monetary Policy, Fiscal Policy, and Financial System Design
Debt and the Effects of Fiscal Policy
Revisiting Monetary Policy in a Low Inflation Environment