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Fiscal Policy Issues

In: New Challenges for Macroeconomic Policies

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  • Gilles Dufrénot

    (Sciences Po Aix)

Abstract

This chapter addresses some recent questions about fiscal policy issues in the coming decades. The first question concerns the functions of fiscal policy that now go beyond what is usually said, that is, allocation, distribution, and stabilization. The repetition of crises of various kinds and ecological issues have opened up new roles for governments: insurers of income and builders of the future by committing large amounts of expenditure to potential growth. A second important issue is the sustainability of public debts, as sovereign debt ratios are at high levels in industrialized countries. After presenting the analytical frameworks, we study two emblematic cases, that of Japan and the European countries.

Suggested Citation

  • Gilles Dufrénot, 2023. "Fiscal Policy Issues," Springer Books, in: New Challenges for Macroeconomic Policies, chapter 0, pages 333-388, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-15754-7_7
    DOI: 10.1007/978-3-031-15754-7_7
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