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Using Macroeconomic And Structural Policies To Attain Macroeconomic Objectives

In: MACROECONOMIC ANALYSIS AND POLICY A Systematic Approach

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  • Joshua E Greene

Abstract

As mentioned in Chapter 1 of this book, most governments aim to achieve several broad macroeconomic objectives. These include operating near potential output and attaining an acceptable level of economic growth; achieving relative price stability (low inflation); and maintaining a sustainable external position, meaning a sound balance of payments and a modest level of external debt. We can group these objectives under two broad headings: macroeconomic stability and growth. Stability implies operating close to potential output, with low inflation and a sustainable external position. To be compatible with stability, growth must allow the economy to expand at a rate consistent with potential output, without threatening excessive inflation or an unsustainable balance of payments as productive capacity expands…

Suggested Citation

  • Joshua E Greene, 2018. "Using Macroeconomic And Structural Policies To Attain Macroeconomic Objectives," World Scientific Book Chapters, in: MACROECONOMIC ANALYSIS AND POLICY A Systematic Approach, chapter 10, pages 183-212, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813223837_0010
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    Keywords

    Macroeconomics; Macroeconomic Data; Macroeconomic Policy; Macroeconomic Objectives; Macroeconomic Accounts; Macroeconomic and Structural Policies;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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