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Debt stabilization is controversial. One view is that it requires running balanced budgets irrespective of the possible cyclical implications. Another view is that it is far better to use fiscal policy to support rapid growth. Evaluate these arguments in - Essay Example

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One view is that it requires running balanced budgets irrespective of the possible cyclical implications. Another view is that it is far better to use fiscal policy to support rapid growth. Evaluate these arguments.
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Debt stabilization is controversial. One view is that it requires running balanced budgets irrespective of the possible cyclical implications. Another view is that it is far better to use fiscal policy to support rapid growth. Evaluate these arguments in
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Debt stabilization is controversial. One view is that it requires running balanced budgets irrespective of the possible cyclical implications. Another view is that it is far better to use fiscal policy to support rapid growth. Evaluate these arguments in

Download file to see previous pages... There are major links between the monetary authorities and the fiscal authorities in the process of stabilization of debt. After the 1980s, many developing as well as emerging economies faced the problem of increasing debts for the government and issues in stabilizing these debts. Therefore, debt stabilization became a critical issue for consideration in the policy discussion and formulation processes across different economies. The debt target set in the Maastricht Treaty has also popularized the issue of debt stabilization. Also, the OECD has expressed an increasing concern related to the fiscal stance of the member countries of OECD related to implementing policies for effective debt stabilization. The conflicts between the use of monetary and fiscal authorities have been prevalent in the recent years related to whether the fiscal policies or the monetary instruments like balanced budgets are more effective for the stabilization of debt.
Balanced budgets used by the government are budgets in which there are no budget surpluses or deficit i.e. the revenues are equal to the expenditures. The budget may have a surplus but does not have a deficit in any situation. Generally a balanced budget is of two types: cyclically balanced budget and annually balanced budget. A cyclically balanced budget is balanced over a year and shows surplus in the economy. A cyclically balanced budget on the other hand is spread over an entire economic cycle and demonstrates surplus during the boom period and deficit during the trough periods of the business cycle.
Balanced budgets can help in stabilizing the debts and the economy as a whole. Budget surpluses and budget deficits play major roles in debt stabilization. The projection of the monetary and fiscal policies implemented in several countries in order to stabilize the debt levels indicate that the debt stabilization done by the companies by implementing the ...Download file to see next pagesRead More
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