{"title":"Fiscal and Monetary Policy","authors":"Romar Correa","doi":"10.1093/oso/9780199496464.003.0003","DOIUrl":null,"url":null,"abstract":"Romar Correa continues to use the Godley-Cripps (1983) stock-flow-consistent (SFC) framework in this update to refine the thesis that the monetary authority is the ‘handmaiden’ of the fiscal authority. The bank, commercial and central being indistinguishable, is central to the account. A revitalized ‘real bills doctrine’ is proposed. The deleterious consequences of promoting the alternative, ‘financialization’ are traced.","PeriodicalId":281825,"journal":{"name":"A Concise Handbook of the Indian Economy in the 21st Century","volume":"13 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2019-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"A Concise Handbook of the Indian Economy in the 21st Century","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1093/oso/9780199496464.003.0003","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
Romar Correa continues to use the Godley-Cripps (1983) stock-flow-consistent (SFC) framework in this update to refine the thesis that the monetary authority is the ‘handmaiden’ of the fiscal authority. The bank, commercial and central being indistinguishable, is central to the account. A revitalized ‘real bills doctrine’ is proposed. The deleterious consequences of promoting the alternative, ‘financialization’ are traced.
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