Independence or Marriage?

Interactions Between Monetary and Fiscal Policy
Friday February 8, 2013

This seminar examines the legal and operational relationship between central banks and treasury departments

central bank
treasury
fiscal policy
monetary policy
quantitative easing
price stability

Overview

Questions to be addressed include:

  • Should fiscal and monetary policy be viewed separately from each other?

  • Is central bank “independence” an obsolete concept?

  • What are the political implications of recent unorthodox central banking practices such as Quantitative Easing (QE), Operation Twist and Interest-On-Excess-Reserves (IOER)?

  • What role should central banks have in promoting full employment and price stability?

Participants

Speakers:

Timothy A. Canova

Professor of Law and Public Finance
Nova Southeastern University Shepard Broad Law Center.

Timothy A. Canova is Professor of Law and Public Finance at the Nova Southeastern University Shepard Broad Law Center. He previously served as a legislative assistant to the late U.S. Senator Paul E. Tsongas and practiced law with Gibson, Dunn & Crutcher in New York City. He has authored more than two dozen articles and book chapters, including articles in the Harvard Law & Policy Review, American Journal of Economics and Sociology, Brooklyn Law Review, Georgetown Journal of Law & Public Policy, and UC Davis Law Review.

Scott Fullwiler

James A. Leach Chair in Banking and Monetary Economics
Wartburg College

Scott Fullwiler, Ph.D. holds the James A. Leach Chair in Banking and Monetary Economics and is an Associate Professor of Economics and Co-Director of the Social Entrepreneurship Program at Wartburg College, Waverly, Iowa. He is also Adjunct Faculty at the Presidio Graduate School, San Francisco, and a Research Associate at the Center for Full Employment and Price Stability, University of Missouri–Kansas City. Dr. Fullwiler has published in the Journal of Economic Issues, Journal of Post Keynesian Economics, and in edited volumes, and in 2009 co-edited Institutional Analysis and Praxis–The Social Fabric Matrix Approach. He blogs at New Economic Perspectives and can be found on Twitter.

@stf18
Moderator: 

Dean Baker

Co-Director
Center for Economic and Policy Research

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, DC. He received his Ph.D in economics from the University of Michigan. He writes a weekly column for the Guardian Unlimited (UK), the Huffington Post, TruthOut, and his blog, Beat the Press, features commentary on economic reporting.

@DeanBaker13
Center for Economic and Policy Research
Beat The Press

Resources

Transcript