Coordination of Monetary and Fiscal Policies
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Summary:
Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
Series:
Working Paper No. 1998/025
Subject:
Banking Central bank credit Central banks Fiscal policy Government debt management Monetary base Money Public debt Public financial management (PFM)
English
Publication Date:
March 1, 1998
ISBN/ISSN:
9781451844238/1018-5941
Stock No:
WPIEA0251998
Pages:
32
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