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Book Overview
It 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.
Format:Paperback
Language:English
ISBN:1108822762
ISBN13:9781108822763
Release Date:November 2020
Publisher:Cambridge University Press
Length:200 Pages
Weight:0.68 lbs.
Dimensions:0.5" x 6.0" x 9.0"
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