The reform process triggered by the recent financial crisis is gradually making progress. Advances are underway in the area of banking regulation, accounting standards, and market infrastructure (e.g. clearing houses for derivatives, etc.). A new framework for macroprudential policy is also...

The course consists of several distinct, but interconnected lectures: · Lecture 1. Simple Models of Policy Interactions: Some Monetary Doctrines · Lecture 2. Fiscal Theory of the Price Level · Lecture 3. Policy Interactions with Tax Distortions · Lecture 4. Fiscal Limits · Lecture 5. Policy...