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Economies 2013, 1(2), 15-18; doi:10.3390/economies1020015

Effects of Fiscal and Monetary Policy in the Great Recession

Faculty of Economics, Campus As Lagoas, Marcosende, University of Vigo, Vigo 36310, Spain
Received: 24 September 2013 / Accepted: 24 September 2013 / Published: 24 September 2013
(This article belongs to the Special Issue Effects of Fiscal and Monetary Policy in the Great Recession)
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World economy is living a time of change, and the complexity of change has implied a new research agenda on the role of economic policy in society. The role, types and effects of economic policy have been major issues in economic science since its origins. Jean Tinbergen (1956) [1] established the basis for the traditional theory of economic policy in economics and he tried to show how economic knowledge could be organized to regulate and guide economic systems. Nevertheless, this traditional approach has been improved through several contributions, for example when Eggertsson (1997) [2] incorporated the existence of incomplete knowledge, endogenous politics and institutional change in the theory of economic policy. [...]
This is an open access article distributed under the Creative Commons Attribution License (CC BY 3.0).

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Caballero, G. Effects of Fiscal and Monetary Policy in the Great Recession. Economies 2013, 1, 15-18.

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