Monetary and Fiscal Policy: Politics

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Monetary and Fiscal Policy: Politics is written by Torsten Persson and published by MIT Press. It's available with International Standard Book Number or ISBN identification 0262660881 (ISBN 10) and 9780262660884 (ISBN 13).

This is the first of two volumes on a theory of macroeconomic policy that analyzes which policies are credible or politically feasible. Instead of looking at policy as an end product, the contributors approach policy as an ongoing process of revised goals, changes in tactics, and political pressures. They consider what kinds of incentives within different institutional settings, drive policy-making and the behaviour of policy-makers. The approach explains why certain monetary and fiscal policies are implemented, and provides insights into situations that occur repeatedly in macroeconomic policy, such as the bias toward government deficits, partisan competition and central bank independence.