Fiscal Policy

Fiscal policy is one of three pillars of macroeconomic policy that can be used to influence the trajectory and growth rate of an economy.  The other two macroeconomic policy areas are monetary policy and regulatory policy.  This pathway will focus specifically on fiscal policy.

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8 videos • 1 hour 26 minutes

  • Introduction to Fiscal Policy

    Fiscal policy is one of three pillars of macroeconomic policy that can be used to influence the trajectory and growth rate of an economy. In this video, Tim provides an overview of macroeconomic theory that will provide the foundation for a more detailed discussion on fiscal policy.

    Tim Hall18:12

  • Automatic Stabilisers and Government Intervention

    In the first video about fiscal policy, Tim gave us an overview of the broader macroeconomic model that provides the framework for determining how fiscal policy influences the trajectory of economic growth.  In this video, he explains us the theory behind macroeconomic policy but dig a bit deeper, looking specifically at how passive fiscal policy works, then more interestingly at the fiscal policy tools available to governments to influence their economies.

    Tim Hall10:14

  • Time Lags and the Multiplier Effect

    In the first two videos of this series Tim explained us the macroeconomic fundamentals of fiscal policy. In this video he will highlight some of the issues that make fiscal policy challenging for governments, since the theoretical outcome often differs from reality.

    Tim Hall08:04

  • Government Surplus and Deficits

    Fiscal Policy is one of the main policy tools used by governments to try to smooth, albeit not entirely eliminate, business cycles. In the last video of his series on "Fiscal Policy", Tim explains us the effects of fiscal policies on deficits, the evolution of government debt. Further, he highlights the importance of coordination of Fiscal, Monetary and Regulatory Policies.

    Tim Hall15:43

  • Neoliberalism in the UK, US and EU

    In the first video of Trevor's series on fiscal and monetary policy largesse, he explains the policy mix of the major Western economies, in particular, that of the European Union. In so doing, Trevor describes different policy reactions to the 2008 Financial Crisis, and defines neoliberalism and ordoliberalism.

    Trevor Pugh06:21

  • ECB Monetary Policy Response to the GFC

    The European monetary union was created without the required fiscal union to back it up. Trevor discusses the consequences of this reality in terms of monetary policy implementation in response to the 2008 Financial Crisis.

    Trevor Pugh14:13

  • EU Fiscal Austerity Measures

    Whereas monetary policy in Europe leaned significantly in the direction of largesse, fiscal policy was more tightly constrained. In this video, Trevor explains these fiscal constraints and analyses the causes and effects of these policies.

    Trevor Pugh08:54

  • Theories of the Causes of Inflation

    The development of fiscal and monetary policy generally, in the western world, has been a clear example of policy created for the benefit of one group over another. Trevor explains this inequality by examining a political economy, neoliberalism, and the relationship between employment and inflation.

    Trevor Pugh04:27

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