This paper discusses different types of economic policy. In recent years of economic unrest since the Great Recession of 2008 and 2009 to the current global virus outbreak crisis of COVID-19 pandemic, the public and academia raised the long-debated question again: should, and to what extent government should intervene the market. The major focus of this paper is on the use of regulatory policy, monetary policy, fiscal policy, and their applications in real world, with examples that spanned different time periods of time. The first part of the paper we will first explain the tree policies that government or central bank usually uses, which include the introduction of the specific tools each type of policy would use and discuss its benefits and shortcomings. In the next part of this paper, we discussed the various type of policy responses made by the US government and Federal Reserve during the COVID-19 era to illustrate how these policies discussed in this paper could be implemented to help the economy. In the last part of paper, we made the conclusion on the topic: even though government intervention sometimes distorts the market, but we believe the various kinds of policies are necessary to restore the normality of economy under turmoil time.
Published in | International Journal of Economic Behavior and Organization (Volume 9, Issue 4) |
DOI | 10.11648/j.ijebo.20210904.13 |
Page(s) | 136-140 |
Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
Copyright |
Copyright © The Author(s), 2021. Published by Science Publishing Group |
Economic Policy, Regulatory Policy, Monetary Policy, Fiscal Policy
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APA Style
Chen Wen, Gao Ke. (2021). The Suitability of Government Interventions on Markets in Modern Era. International Journal of Economic Behavior and Organization, 9(4), 136-140. https://doi.org/10.11648/j.ijebo.20210904.13
ACS Style
Chen Wen; Gao Ke. The Suitability of Government Interventions on Markets in Modern Era. Int. J. Econ. Behav. Organ. 2021, 9(4), 136-140. doi: 10.11648/j.ijebo.20210904.13
AMA Style
Chen Wen, Gao Ke. The Suitability of Government Interventions on Markets in Modern Era. Int J Econ Behav Organ. 2021;9(4):136-140. doi: 10.11648/j.ijebo.20210904.13
@article{10.11648/j.ijebo.20210904.13, author = {Chen Wen and Gao Ke}, title = {The Suitability of Government Interventions on Markets in Modern Era}, journal = {International Journal of Economic Behavior and Organization}, volume = {9}, number = {4}, pages = {136-140}, doi = {10.11648/j.ijebo.20210904.13}, url = {https://doi.org/10.11648/j.ijebo.20210904.13}, eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijebo.20210904.13}, abstract = {This paper discusses different types of economic policy. In recent years of economic unrest since the Great Recession of 2008 and 2009 to the current global virus outbreak crisis of COVID-19 pandemic, the public and academia raised the long-debated question again: should, and to what extent government should intervene the market. The major focus of this paper is on the use of regulatory policy, monetary policy, fiscal policy, and their applications in real world, with examples that spanned different time periods of time. The first part of the paper we will first explain the tree policies that government or central bank usually uses, which include the introduction of the specific tools each type of policy would use and discuss its benefits and shortcomings. In the next part of this paper, we discussed the various type of policy responses made by the US government and Federal Reserve during the COVID-19 era to illustrate how these policies discussed in this paper could be implemented to help the economy. In the last part of paper, we made the conclusion on the topic: even though government intervention sometimes distorts the market, but we believe the various kinds of policies are necessary to restore the normality of economy under turmoil time.}, year = {2021} }
TY - JOUR T1 - The Suitability of Government Interventions on Markets in Modern Era AU - Chen Wen AU - Gao Ke Y1 - 2021/11/12 PY - 2021 N1 - https://doi.org/10.11648/j.ijebo.20210904.13 DO - 10.11648/j.ijebo.20210904.13 T2 - International Journal of Economic Behavior and Organization JF - International Journal of Economic Behavior and Organization JO - International Journal of Economic Behavior and Organization SP - 136 EP - 140 PB - Science Publishing Group SN - 2328-7616 UR - https://doi.org/10.11648/j.ijebo.20210904.13 AB - This paper discusses different types of economic policy. In recent years of economic unrest since the Great Recession of 2008 and 2009 to the current global virus outbreak crisis of COVID-19 pandemic, the public and academia raised the long-debated question again: should, and to what extent government should intervene the market. The major focus of this paper is on the use of regulatory policy, monetary policy, fiscal policy, and their applications in real world, with examples that spanned different time periods of time. The first part of the paper we will first explain the tree policies that government or central bank usually uses, which include the introduction of the specific tools each type of policy would use and discuss its benefits and shortcomings. In the next part of this paper, we discussed the various type of policy responses made by the US government and Federal Reserve during the COVID-19 era to illustrate how these policies discussed in this paper could be implemented to help the economy. In the last part of paper, we made the conclusion on the topic: even though government intervention sometimes distorts the market, but we believe the various kinds of policies are necessary to restore the normality of economy under turmoil time. VL - 9 IS - 4 ER -