Fiscal policy
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| - | The '''economic policy''' of [[government]]s covers the systems for setting levels of [[taxation]], [[government budgets]], the [[money supply]] and [[interest rates]] as well as the [[labour market]], [[nationalization|national ownership]], and many other areas of government interventions into the economy. | + | In [[economics]] and [[political science]], '''fiscal policy''' is the use of government [[Government revenue|revenue]] collection (mainly [[tax]]es) and [[Government spending|expenditure]] (spending) to influence the economy. According to [[Keynesian economics]], when the government changes the levels of taxation and government spending, it influences [[aggregate demand]] and the level of economic activity. Fiscal policy is often used to stabilize the economy over the course of the [[business cycle]]. |
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| - | Most factors of economic policy can be divided into either [[fiscal policy]], which deals with government actions regarding taxation and spending, or [[monetary policy]], which deals with central banking actions regarding the money supply and interest rates. | + | |
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| - | Such policies are often influenced by [[International organization|international institutions]] like the [[International Monetary Fund]] or [[World Bank]] as well as [[political]] beliefs and the consequent [[policy|policies]] of [[Political party|parties]]. | + | |
| ==See also== | ==See also== | ||
| - | *[[Stabilization policy]] | + | * [[Econometrics]] |
| - | *[[Budget process]] | + | * [[Fiscal Observatory of Latin America and the Caribbean]] |
| - | *[[Constitutional economics]] | + | * [[Fiscal policy of the United States]] |
| + | * [[Fiscal union]] | ||
| + | * [[Functional finance]] | ||
| + | * [[Interaction between monetary and fiscal policies]] | ||
| + | * [[National fiscal policy response to the late 2000s recession]] | ||
| + | * [[Policy mix]] | ||
| {{GFDL}} | {{GFDL}} | ||
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In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to influence the economy. According to Keynesian economics, when the government changes the levels of taxation and government spending, it influences aggregate demand and the level of economic activity. Fiscal policy is often used to stabilize the economy over the course of the business cycle.
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See also
- Econometrics
- Fiscal Observatory of Latin America and the Caribbean
- Fiscal policy of the United States
- Fiscal union
- Functional finance
- Interaction between monetary and fiscal policies
- National fiscal policy response to the late 2000s recession
- Policy mix
Unless indicated otherwise, the text in this article is either based on Wikipedia article "Fiscal policy" or another language Wikipedia page thereof used under the terms of the GNU Free Documentation License; or on research by Jahsonic and friends. See Art and Popular Culture's copyright notice.
