Eric Leeper on the Interactions of Fiscal and Monetary Policy
Macro Musings with David Beckworth
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The Relationship Between Active and Passive Fiscal and Monetary Policy
In 19 90, onea well known paper in the journal of monetary economics titled equilibrium under active and passive monetary and fiscal policy. So how is this related? And built upone sergeant and wallace's ideas of fiscal dominance and monetary dominance)? Well, i chose the language active and pass i because i thought that the way i was describing monitering fiscal behavior was consistent with the way that the economics profession had used that terminology in the past.
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