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2023•Edward Elgar Publishing eBooksRequires access

Fiscal policy

Raghbendra Jha

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Abstract

This chapter overviews the role of fiscal policy in the macro-economy, it then discusses debt dynamics and the sustainability of public debt. It considers the important role of Ricardian Equivalence in macroeconomics. The role of redistributive fiscal policy is considered – in particular pro-poor adjustment policy. The chapter also considers reining in the fiscal deficit and insulating the poor from crises. Pro-poor public expenditure is also considered. Finally, the chapter overviews the role of stabilization funds.

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What this paper is about

This chapter overviews the role of fiscal policy in the macro-economy, it then discusses debt dynamics and the sustainability of public debt. It considers the important role of Ricardian Equivalence in macroeconomics. The role of redistributive fiscal policy is considered – in particular pro-poor adjustment policy. The chapter also considers reining in the fiscal deficit and insulating the poor from crises. Pro-poor public expenditure is also considered. Finally, the chapter overviews the role of stabilization funds.

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Available abstract

This chapter overviews the role of fiscal policy in the macro-economy, it then discusses debt dynamics and the sustainability of public debt. It considers the important role of Ricardian Equivalence in macroeconomics. The role of redistributive fiscal policy is considered – in particular pro-poor adjustment policy. The chapter also considers reining in the fiscal deficit and insulating the poor from crises. Pro-poor public expenditure is also considered. Finally, the chapter overviews the role of stabilization funds.

Key concepts: Ricardian equivalence, Fiscal policy, Economics, Debt, Fiscal sustainability, Macroeconomics, Macro, Deficit spending

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