NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Should Central Banks Care About Fiscal Rules?

Eric M. Leeper

NBER Working Paper No. 22800
Issued in November 2016
NBER Program(s):Economic Fluctuations and Growth

This essay aims to explain the nature of monetary and fiscal policy interactions and how those interactions could inform the fiscal rules that countries choose to follow. It makes two points: (1) monetary policy control of inflation requires appropriate fiscal backing; (2) European fiscal frameworks appear unlikely to provide the necessary fiscal backing.

download in pdf format
   (275 K)

email paper

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w22800

Users who downloaded this paper also downloaded* these:
Bai, Hsieh, and Song w22801 The Long Shadow of a Fiscal Expansion
Stock and Watson w21282 Core Inflation and Trend Inflation
Leeper and Li w22662 Surplus-Debt Regressions
Leeper and Leith w21867 Understanding Inflation as a Joint Monetary-Fiscal Phenomenon
Hilger w22748 Upward Mobility and Discrimination: The Case of Asian Americans
 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us