Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/64462
Authors: 
Pérez Caldentey, Esteban
Vernengo, Matías
Year of Publication: 
2010
Series/Report no.: 
Working Paper, University of Utah, Department of Economics 2010-02
Abstract: 
The current economic global crisis has thrown fiscal policy onto the center stage. However, the current crisis episode has not produced any change regarding the standing role and function of fiscal policy in developed and developing market economies that has dominated the economics profession for decades. In fact, the uncertain prospects for recovery underscore the fact that free market economies lack the mechanisms to bring about and maintain full employment. Full employment requires designing and making operational institutions at the national and global levels that can manage aggregate demand. This paper reviews the evidence on current fiscal efforts around the world.
Subjects: 
fiscal policy
fiscal deficit
JEL: 
E62
H62
Document Type: 
Working Paper

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