Stabilization policy: A turbulent journey through time

Arbeitspapier

The theory and practice of stabilization policy has taken many turns as it evolved over the past century, oscillating between high hopes and deep skepticism regarding the capacity - and desirability - of governments taking responsibility for macroeconomic stability. This paper reviews the turbulent history of stabilization policy, highlighting the close interaction between events, policies, and ideas. The focus is on the single most debated issue in this history: the resilience of a market economy in the face of macroeconomic shocks. Views on this question have been shaped by experience, theory and ideology to varying degrees.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Discussion Paper Series ; No. 42

Classification and Topics

• Classification: Wirtschaft ; History of Economic Thought through 1925: General ; History of Economic Thought since 1925: General ; Macroeconomics and Monetary Economics: General ; Business Fluctuations; Cycles ; Monetary Policy, Central Banking, and the Supply of Money and Credit: General ; Fiscal Policy
• Subject: Stabilization Policy ; Macroeconomics ; Fiscal Policy ; Monetary Policy ; History of Economic Thought

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Landmann, Oliver
• Event: Veröffentlichung
• (who): University of Freiburg, Department of International Economic Policy (iep)
• (where): Freiburg i. Br.
• (when): 2022

Further information

• Handle: http://hdl.handle.net/10419/266674
• Last update: 10.03.2025, 11:44 AM CET