METHODOLOGICAL NOTE GENERAL GOVERNMENT DEBT
... All these sub-sectors have two basic characteristics: a) they comprise institutional units whose main function is to produce non-market goods and services and/or to undertake operations to redistribute national income and wealth and, b) their principal funds come from compulsory payments made by oth ...
... All these sub-sectors have two basic characteristics: a) they comprise institutional units whose main function is to produce non-market goods and services and/or to undertake operations to redistribute national income and wealth and, b) their principal funds come from compulsory payments made by oth ...
NATIONAL OPEN UNIVERSITY OF NIGERIA MACROECONOMIC
... 7.0 References/Further Readings 1.0 Introduction This unit is to discuss the meaning of national income because national income is an uncertain term which is used interchangeably with national dividend, national output and national expenditure. Also the different model of national income as discusse ...
... 7.0 References/Further Readings 1.0 Introduction This unit is to discuss the meaning of national income because national income is an uncertain term which is used interchangeably with national dividend, national output and national expenditure. Also the different model of national income as discusse ...
Recent studies have found that PEFM is more likely in new
... This omission may reflect developed countries’ room for maneuver, at least in the short term. However, as Wibbels (2006) notes, “developing nations are much more constrained by global markets than their wealthy counterparts.”2 We argue that in developing countries, governments must consider whether ...
... This omission may reflect developed countries’ room for maneuver, at least in the short term. However, as Wibbels (2006) notes, “developing nations are much more constrained by global markets than their wealthy counterparts.”2 We argue that in developing countries, governments must consider whether ...
Republic of Croatia: 2014 Article IV Consultation--Staff Report
... for the 5th consecutive year, and stands now at less than 90 percent of the end-2008 level. Unemployment has risen to 17 percent. Domestic demand remains depressed as corporations and households focus on reducing excess debt levels accumulated in the 2000s; a task that is being complicated by the re ...
... for the 5th consecutive year, and stands now at less than 90 percent of the end-2008 level. Unemployment has risen to 17 percent. Domestic demand remains depressed as corporations and households focus on reducing excess debt levels accumulated in the 2000s; a task that is being complicated by the re ...
Fiscal Policy in the Global Financial and Economic Crisis First, I
... policy doesn't change, the automatic stabiliser effect will increase the deficit. This is called procyclical. It was the response in the Great Depression and, for very specific reasons, also in Estonia in the Great Recession. It is thought that, in both cases, such policy aggravated the depression. ...
... policy doesn't change, the automatic stabiliser effect will increase the deficit. This is called procyclical. It was the response in the Great Depression and, for very specific reasons, also in Estonia in the Great Recession. It is thought that, in both cases, such policy aggravated the depression. ...
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... initiatives: these could involve (i) stronger fiscal-policy frameworks at the national level; (ii) enhanced fiscal policy co-operation in a smaller group of fiscally responsible EU states; or (iii) attempts to coordinate monetary policy and fiscal policy reform at the EU level, for example by the EC ...
... initiatives: these could involve (i) stronger fiscal-policy frameworks at the national level; (ii) enhanced fiscal policy co-operation in a smaller group of fiscally responsible EU states; or (iii) attempts to coordinate monetary policy and fiscal policy reform at the EU level, for example by the EC ...
What Can Exchange Rates Tell Us?
... should not oppose greater flexibility for the dollar, under appropriate rules encouraging a symmetrical adjustment process. The United States and the system as a whole would benefit. I shared in the mid-1970s and share now many of Bergsten’s concerns about the structure of the international monetary ...
... should not oppose greater flexibility for the dollar, under appropriate rules encouraging a symmetrical adjustment process. The United States and the system as a whole would benefit. I shared in the mid-1970s and share now many of Bergsten’s concerns about the structure of the international monetary ...
ec11 - Caritas University
... The study is a critical Evaluation of the impact of Exchange rate variation on Aggregate Demand in Nigeria. These study made use of the ordinary least square (OLS) regression technique in analyzing the impact of Exchange Rate Variation On Aggregate Demand in Nigeria. There are also other variables t ...
... The study is a critical Evaluation of the impact of Exchange rate variation on Aggregate Demand in Nigeria. These study made use of the ordinary least square (OLS) regression technique in analyzing the impact of Exchange Rate Variation On Aggregate Demand in Nigeria. There are also other variables t ...
The exchange rate and the monetary transmission mechanism in
... Identified Vector Autoregressions (VARs) are a useful tool to empirically examine the MTM because they allow to separate the endogenous reaction of the monetary authorities to developments in the economy from exogenous monetary impulses. The estimated effects of such policy shocks can then be used t ...
... Identified Vector Autoregressions (VARs) are a useful tool to empirically examine the MTM because they allow to separate the endogenous reaction of the monetary authorities to developments in the economy from exogenous monetary impulses. The estimated effects of such policy shocks can then be used t ...
NBER WORKING PAPER SERIES LOCAL DEFICITS AND LOCAL JOBS:
... given to the sample states. It is clear that without this assistance states would required a significant increase in state revenues or cuts in state spending to balance their aggregate budgets. Figure 1b shows the ratio of total deficits and total own deficits to national GDP. On average U.S. states ...
... given to the sample states. It is clear that without this assistance states would required a significant increase in state revenues or cuts in state spending to balance their aggregate budgets. Figure 1b shows the ratio of total deficits and total own deficits to national GDP. On average U.S. states ...
The IMF and Danmarks Nationalbank`s Balance Sheet
... The primary objective of the International Monetary Fund (IMF) is to prevent crises in the international monetary system. The IMF monitors the economic and financial development in its 184 member countries and submits recommendations concerning economic policy. The IMF may also provide temporary fin ...
... The primary objective of the International Monetary Fund (IMF) is to prevent crises in the international monetary system. The IMF monitors the economic and financial development in its 184 member countries and submits recommendations concerning economic policy. The IMF may also provide temporary fin ...
Currency Wars
... maneuvers. Instead the only weapons allowed would be financial—currencies, stocks, bonds and derivatives. The Pentagon was about to launch a global financial war using currencies and capital markets instead of ships and planes. At the dawn of the twenty-first century, U.S. military dominance in con ...
... maneuvers. Instead the only weapons allowed would be financial—currencies, stocks, bonds and derivatives. The Pentagon was about to launch a global financial war using currencies and capital markets instead of ships and planes. At the dawn of the twenty-first century, U.S. military dominance in con ...
Management & Engineering Internationalization Based on SVAR Model
... backgrounds, RMB internationalization is certain not to be the same as that of US dollar, on the contrary, RMB internationalization needs more economic motivation than political promotion for the latter one is hard to measure and control. Even if different country has different way to promote its cu ...
... backgrounds, RMB internationalization is certain not to be the same as that of US dollar, on the contrary, RMB internationalization needs more economic motivation than political promotion for the latter one is hard to measure and control. Even if different country has different way to promote its cu ...
should the southeast asian countries form a currency union?
... In his analysis, he assumes that wages and prices are sticky in the short run. This means that changes in real exchange rates have to be achieved through the use of nominal exchange rates. Mundell then proceeds to weigh the costs and benefits of a group of countries coming together to form a currenc ...
... In his analysis, he assumes that wages and prices are sticky in the short run. This means that changes in real exchange rates have to be achieved through the use of nominal exchange rates. Mundell then proceeds to weigh the costs and benefits of a group of countries coming together to form a currenc ...
should the southeast asian countries form a currency union?
... In his analysis, he assumes that wages and prices are sticky in the short run. This means that changes in real exchange rates have to be achieved through the use of nominal exchange rates. Mundell then proceeds to weigh the costs and benefits of a group of countries coming together to form a currenc ...
... In his analysis, he assumes that wages and prices are sticky in the short run. This means that changes in real exchange rates have to be achieved through the use of nominal exchange rates. Mundell then proceeds to weigh the costs and benefits of a group of countries coming together to form a currenc ...
NBER WORKING PAPER SERIES STABILIZATION POLICIES IN OPEN ECONOMIES Richard C. Marston
... are now independent of the exchange rate and the parameters of the trade balance function, so monetary and fiscal policies have effects similar to those in a closed economy. ...
... are now independent of the exchange rate and the parameters of the trade balance function, so monetary and fiscal policies have effects similar to those in a closed economy. ...
Introduction Learning Objectives
... trade deficit exists when the value of imports exceeds the value of exports. • Some say it appears that there is a relationship between trade and budget deficits; at least there is a statistical correlation between the two. ...
... trade deficit exists when the value of imports exceeds the value of exports. • Some say it appears that there is a relationship between trade and budget deficits; at least there is a statistical correlation between the two. ...
Welfare Costs of Inflation and the Circulation of US Currency Abroad
... are small at low nominal interest rates (Mulligan and Sala-i-Martin, 2000). Most empirical studies (including Lucas, 2000 and Ireland, 2009) use the monetary aggregate M1 (the aggregation of currency and checkable deposits) as a measure of money. Indeed, M1 represents a close empirical counterpart o ...
... are small at low nominal interest rates (Mulligan and Sala-i-Martin, 2000). Most empirical studies (including Lucas, 2000 and Ireland, 2009) use the monetary aggregate M1 (the aggregation of currency and checkable deposits) as a measure of money. Indeed, M1 represents a close empirical counterpart o ...
UNPC PHOTO 68 ECONOMIC AND SOCIAL SURVEY OF ASIA AND THE PACIFIC 2013
... indicators of China were generally stronger than expected, providing further evidence of an economic rebound in the last quarter. On the demand side, growth was supported by domestic consumption and capital formation, partly reflecting the positive effects of policy easing (cuts in interest rate and ...
... indicators of China were generally stronger than expected, providing further evidence of an economic rebound in the last quarter. On the demand side, growth was supported by domestic consumption and capital formation, partly reflecting the positive effects of policy easing (cuts in interest rate and ...
Arcos Dorados Holdings Inc.
... Brazil’s as reported revenues increased by 14.5%, supported by constant currency growth as well as the 8% year-over-year average appreciation of the Brazilian real. Excluding the benefit of currency translation, constant currency revenues increased 5.8% year-over-year, supported by 6.3% comparable s ...
... Brazil’s as reported revenues increased by 14.5%, supported by constant currency growth as well as the 8% year-over-year average appreciation of the Brazilian real. Excluding the benefit of currency translation, constant currency revenues increased 5.8% year-over-year, supported by 6.3% comparable s ...
850.12 KB - Asian Development Bank
... performances, it is most appropriate and effective to conduct panel data analysis to unravel the peculiarity, if there is, of international macroeconomic policies of these economies. More specifically, using the “trilemma indexes” developed by Aizenman et al. (2008) that measure the extent of achiev ...
... performances, it is most appropriate and effective to conduct panel data analysis to unravel the peculiarity, if there is, of international macroeconomic policies of these economies. More specifically, using the “trilemma indexes” developed by Aizenman et al. (2008) that measure the extent of achiev ...
Overview of the Implementation of National Accounts at Global Level
... credit default risk in the calculation of FISIM and volume measures of FISIM. In the case of excluding credit default risk, to develop methods and data that could support its possible exclusion in the future. The long-term research agenda on FISIM include: (a) Further development of the “costs of fu ...
... credit default risk in the calculation of FISIM and volume measures of FISIM. In the case of excluding credit default risk, to develop methods and data that could support its possible exclusion in the future. The long-term research agenda on FISIM include: (a) Further development of the “costs of fu ...
Fiscal Policy, Past and Present - University of California, Berkeley
... than increases in spending. In fiscal year 2003, for example, revenue projections have fallen by $451 billion, while expenditure projections (excluding debt service) have risen by $112 billion. But only a portion of this revenue increase is directly attributable to tax legislation. The rest is due t ...
... than increases in spending. In fiscal year 2003, for example, revenue projections have fallen by $451 billion, while expenditure projections (excluding debt service) have risen by $112 billion. But only a portion of this revenue increase is directly attributable to tax legislation. The rest is due t ...
Optimal Budget Deficits
... reduce national savings, and part of the reduction in national savings manifests itself as increased borrowing from abroad, budget deficits and current account deficits are interrelated. While such “external” debt does not entail the direct substitution of government bonds for private capital inves ...
... reduce national savings, and part of the reduction in national savings manifests itself as increased borrowing from abroad, budget deficits and current account deficits are interrelated. While such “external” debt does not entail the direct substitution of government bonds for private capital inves ...
International Financial Flows in the New Normal: Key Patterns
... 2015) may have contributed to the weakness of bank flows to substantial net outflows to net inflows in the years following the extent that trade and financial flows are complementary the crisis. Canada has also switched from net outflows to (Coeurdacier and Aviat (2007)). 5 net inflows, but this cha ...
... 2015) may have contributed to the weakness of bank flows to substantial net outflows to net inflows in the years following the extent that trade and financial flows are complementary the crisis. Canada has also switched from net outflows to (Coeurdacier and Aviat (2007)). 5 net inflows, but this cha ...