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patrickmclaren


Total Posts: 1
Joined: Mar 2010
 
Posted: 2020-11-12 16:58
Looking for book recommendations on fiscal policy. Would like to understand the good, the bad, and the ugly, ideally from a mathematical perspective.

So far, I'm leaning towards Macroeconomic Policy by Langdana - https://www.springer.com/us/book/9783319328522. Thoughts?

Open to any flat earther responses as well.

EGH


Total Posts: 91
Joined: Nov 2014
 
Posted: 2020-11-13 12:36
looks like interesting book, but would suspect most books on fiscal policy are heavily biased based on monetary regime they are written under. Before 1990 it was at least in Western world for a good period of time all about focus on stable exchange rates. But it collapsed/broke in the end, for example Bank of Sweden first used up foreign currency reserves to defend SEK, one cannot print currencies in other currency than own so they run out, then they pushed rates to 500% (well o/n rate) to try to defend off speculators shorting the Swedish krona. They lost and devalued, and their fiscal/monetary policy to provide stable FX was proven to be just an illusion of stability where one got massive instability in the end. Similar happened in country after country.

So the big question you must ask yourself are u going to study fiscal policy that are useful inside a monetary regime as long as it last, or are u interested in the longer perspective. If longer perspective study money and money systems as well as fat-tails first (possibly u already have done so). Well, off course it all depends what you are planning to use it for. If your plan is to publish academic papers in good journals on fiscal policy, then your best chance is likely to go with the current crowd thinking there and try to add footnotes, then they will applaud you (for a while).

anyway good to load up the bookshelves with various books on the topic (or any topic)..dont waist time reading whole books, learn to extract the essence!
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