Business, Legal & Accounting Glossary
In macroeconomics, a discretionary fiscal policy is an economic policy based on the ad hoc judgment of policymakers as opposed to a policy set by predetermined rules.
A Discretionary fiscal policy refers to a government policy that alters government spending or taxes. Its purpose is to expand or shrink the economy as necessary.
Non-mandatory changes in taxation, spending, or other fiscal activities by a government in response to economic events or changes in economic conditions. A discretionary fiscal policy implies government actions above and beyond existing fiscal policies and often occurs in periods of recession or economic turbulence.
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This glossary post was last updated: 3rd January, 2020 | 17 Views.