Is There a Case for the MTFS?

Journal article

This paper offers a critique of the macroeconomic policy stance of the U.K. Conservative administration from a policy optimization perspective. Attention is focused on three particular issues which, it is argued, require clarification in the medium term financial strategy. The first concerns the role of nominal GDP; the second is concerned with whether output is an objective of policy alongside inflation; the third concerns the role of fiscal policy. The costs and benefits of the approach tak...

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Authors: Westaway, P; Wren-Lewis, S

• Journal: Manchester School of Economic and Social Studies
• Volume: 61
• Publication date: 1993-01-01
• ISSN: 0025-2034
• Language: English