Financial and Monetary Systems

The impact of fiscal policy on your spending

People stroll at a shopping mall in Istanbul October 10, 2011. In a country where per capita incomes are up 40 percent since 2001, consumer's hunger for goods and services is explosive. The $735 billion economy grew 8.8 percent in the second quarter of 2011, faster than India?s and more than four times the pace of the euro zone. Loans, corporate profits and sales of cars and electronics are still rising at double-digit clips. Picture taken October 10, 2011. To  match Analysis TURKEY-STOCKS/ REUTERS/Murad Sezer (TURKEY - Tags: BUSINESS) - RTR2SKL1

German households began to revise their expectations about price increases as soon as the tax increase announcement was made. Image: REUTERS/Murad Sezer

Linda Gorman
Director of the Health Care Policy Center, Independence Institute
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