Threat of Fiscal Dominance? Workshop Summary

12 Pages Posted: 20 Jun 2012

See all articles by Richhild Moessner

Richhild Moessner

Bank for International Settlements (BIS)

Philip Turner

University of Basel; National Institute for Economic and Social Research, London

Date Written: May 2012

Abstract

A long period of high public debt-to-GDP ratios will alter the interactions between fiscal policy, monetary policy and government debt management. But opinions differ on exactly how. Four perspectives were explored in this workshop: historical analysis of policies in financial crises; macroeconomic theory; the theory of sovereign debt management; and the quantitative assessment of recent central bank balance sheet policies.

Full publication: Threat of Fiscal Dominance?

Keywords: Monetary policy, central banks, sovereign debt management, policy coordination

JEL Classification: E43, E44, E63, E61

Suggested Citation

Moessner, Richhild and Turner, Philip, Threat of Fiscal Dominance? Workshop Summary (May 2012). BIS Paper No. 65a, Available at SSRN: https://ssrn.com/abstract=2078943

Richhild Moessner (Contact Author)

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

Philip Turner

University of Basel ( email )

Petersplatz 1
CH-4001 Basel
Switzerland

National Institute for Economic and Social Research, London ( email )

2 Dean Trench St
London, SW1P 3HE
United Kingdom

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