The purpose of the study is to analyze the impact of quantitative easing (QE) policies on public finance through the case study of United States. Quantitative easing policies of United States have reduced interest expenditures by lowering government bond interest rates, have increased tax revenues by supporting economic activity and have enhanced non-tax budget revenue by increasing Central Bank profit transfers to Treasury in United States. As a consequence of these, budget deficit and public debt stock have declined compared with no policy scenario. Hence, quantitative easing policies implemented by advanced country central banks have made positive effects to public finance and contributed to debt sustainability.
The purpose of the study is to analyze the impact of quantitative easing (QE) policies on public finance through the case study of the United States. Quantitative easing policies of the United States have reduced interest expenditures by lowering government bond interest rates, have increased tax revenues by supporting economic activity and have enhanced non-tax budget revenues by increasing Central Bank profit transfers to Treasury in the United States. As a consequence of these, budget deficit and public debt stock have declined compared with no policy scenario. Therefore, quantitative easing policies implemented by advanced country central banks have made positive effects on public finance and contributed to debt sustainability.
Alan : Sosyal, Beşeri ve İdari Bilimler
Dergi Türü : Ulusal
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