INTERNATIONAL MONETARY AND FISCAL POLICY AND MARKETS
I have been asked to deliver a lecture as "entitled". The scope and complexity require a course or a programme. Hence, the lecture touches lightly upon these broad subject areas, while remaining faithful to the aims and learning outcomes.
The delivery of the lecture is narrative supported by data pulled from various sources but the coverage does not include mathematical formulae often used by professionals in their published work.
I start by identifying the expectations built into the provided agenda. Before moving to other matters, I ask a question about the nature of money/debt to encourage class discussion. You may find my outline and preliminary remarks in the following PPT presentation:
II also set forth recent instability in the US banking sector as it raises a question of the FED's responsibility to assure financial system stability. The PPT is found here:
The lecture then proceeds to review data that may be useful to the topics to be covered. In this part, I attempt to make observations related to the aims and learning outcomes. The PPT is found here:
The monetary policy of the United States, the European Union, the Russian Federation and the People's Republic of China is reviewed. These serve as case studies. The functions and tools of central bank monetary policy within the case studies are similar. However, the macroeconomic context of each differs. The PPT is found here: The PPT is found here:
I also provide a comparative analysis of MP policy regarding the GFC and Covid-19 pandemic based on the FED, ECB and Bank of England. The PPT is found here:
The lecture then provides a brief exposition of Thomas Piketty's historical study of inequality of capital and inequality of income.This part is key as the capacity of monetary and fiscal policy to achieve a more egalitarian distribution of wealth and income takes place within Piketty's study; The PPT is found here:
The lecture turns to fiscal and taxation policy. The OECD's attempt to rewrite the rules of international tax policy for Multi-National Enterprises to reduce tax avoidance/evasion of profits is explained. The fiscal policy responses to the Financial Crisis of 2008 and the Covid-19 Pandemic are also noted as referenced by citation to IMF data. The PPT is found here:
I then provide some closing remarks; the PPT is found here: