If Major Wars Affect (Judicial) Fiscal Policy, How & Why?

How Does Monetary Policy Affect Household Income Distribution?

Over the last decades the research on monetary policy has largely concentrated on the impact of monetary authorities’ decisions on inflation and the fine-tuning of the macroeconomic, so that distributional effects of monetary policy which are non-trivial has been ignored. A view that has become increasingly popular since the financial crisis 2008 is that expansionary monetary policy can exacerb...

An auction theoretical approach to fiscal wars

Why has Fiscal Policy Disappointed in Japan? - Revisiting the Pre-Keynesian View on the Ineffectiveness of Fiscal Policy

Fiscal policy has been of significant size in Japan since the early 1990s, propelling Japan to the forefront of fiscally-challenged nations. However, the effect of fiscal policy has been disappointing. This paper discusses the various explanations provided by the literature (the argument that fiscal policy was effective; the argument that it was not effective, because of interest rate-based cro...

Commentary: Fiscal Policy and the Fiscal Position

As economics has developed, a number of different fiscal principles have been suggested. Perhaps the oldest principle was that the Government should balance its books. This principle was adopted by the 1979 Conservative Government but they delivered a budget in balance or in surplus only in 1988/89 and 1989/90. The same principle has been adopted in the Stability and Growth Pact, albeit with an...

Not if but when; no longer why but how

There is accruing evidence that information technology can improve patient health care, with several trials of technology showing smaller numbers of medication errors, or can provide earlier detection of adverse events. Critics of this type of research point out that better resolution of events is of no value unless their direct management influences clinical outcome. Nevertheless, indirect evi...