Author(s): D.E. Fair and F. Léonard de Juvigny
Date published: Feb 1984
edited by D.E. Fair and F. Léonard de Juvigny, Financial and Monetary Policy Studies 9
Martinus Nijhoff Publishers, Dordrecht, Boston, Lancaster, 1984
In recent years most industrial countries have experienced growth in the size of the government budget and, particularly, of the budget deficit. This has provided an environment in which government policies have exerted an increasing influence - largely, but not only, because of the deficit problem - on the working of the financial system. The twenty papers reproduced in the current volume focus on this phenomenon in terms of macro-economic performance, allocation of resources and the behaviour of the private sector, and financial markets and intermediaries. The main themes are: "Large and persisting public sector deficits: short term and demand thrust and long term policy implications", "Size and composition of the public sector budget: implications for private sector finances", "Debt management, financial regulations and monetary policy" and "Are fiscal and monetary policies independent instruments?" The volume presents a unique symposium of analyses by central bank governors, top treasury officials and academic and banking experts in this field. Contributors include the governor of the Bank of Spain, the former Governor of the Deutsche Bundesbank and the head of H.M. Treasury, United Kingdom.