The Reagan economic plan--supply-side, budget and inflation

Inflation (Finance) ; Supply-side economics ; Budget

Macroeconomic Strategy in Wartime

In 2001-02 the United States has been hit by two quite different shocks, terrorism and recession. As usual in time of war, national defense is the highest priority for use of the country's resources. Although the opportunities for international warfare are limited, the challenges to the homeland are virtually unlimited. The president's fiscal year 2003 budget includes $48 billion additional for the military and$38 billion additional for homeland defense. Given the gravity of the threat, it is hard to understand why new expenditures are not undertaken as soon as and as large as possible. This would also be timely for stimulus to the economy, more effective than tax cuts and other proposals - with the nation in peril, the country is ready to make sacrifices, not to enjoy further tax reductions. Pearl Harbor in December 1941 occurred with the economy not yet recovered from the Great Depression, with unemployment still 10 per cent. Expenditures for war were increased sharply and rapidly, and full employment was restored in 1943.Fiscal, War, Recession, Stimulus, Tax, Deficit

Monetary Policy in 1974 and Beyond

macroeconomics, monetary policy, 1974

Money and Finance in the Macro-Economic Process

Prize Lecture to the memory of Alfred Nobel, December 8, 1981Macro-finance

A Proposal for Monetary Reform

Exchange rates fluctuate very rapidly, in comparison to the prices of goods and labor. An internationally uniform tax on all spot conversions of one currency into another would reduce these fluctuations. Foreign exchange markets focus strongly on the short run, but this tax would reduce these fluctuations by increasing the cost of such transactions. It throws some sand in the wheels of short-term speculation while increasing the relative advantage of longer-term international investment flows. [Ed.]Monetary; Policy; Tax; Taxes

How can monetary policy be improved?

Monetary policy - United States ; Monetary policy ; Banks and banking, Central

Macroeconomic Effects of Selective Public Employment and Wage Subsidies

macroeconomics, wage subsidies, selective public employment