Debt, Deficit, and Economic Performance

Ever since Keynes challenged the classical approach to macroeconomics, the economics profession has been engaged in a prolonged debate over the appropriate roles of monetary, fiscal, debt and exchange rate policies in economic management. The purpose of this book is to review the developments in the theory of fiscal and monetary policy, and the views taken by economists of different schools towards budget deficits and public debt. US and European economists face the key problems of deficit, debt and economic systems. New updated data is presented together with a comprehensive survey of different approaches and theories.