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... opportunity for influencing, and altering, mainstream macroeconomics. The field has strayed far from its Keynesian origins, and in doing so has become, like other areas of standard economics, highly abstract and mathematical. But at the same time there are some influential voices within the mainstre ...
... opportunity for influencing, and altering, mainstream macroeconomics. The field has strayed far from its Keynesian origins, and in doing so has become, like other areas of standard economics, highly abstract and mathematical. But at the same time there are some influential voices within the mainstre ...
Comments on Stefan Niemann and Jürgen von Hagen
... This interesting and nicely executed analysis sheds new light on the issue of fiscal/monetary interaction by evaluating the steady state implications of policy coordination in a dynamic Markov game. As is well known, Kydland and Prescott (1977) and Barro and Gordon (1983) showed that discretionary p ...
... This interesting and nicely executed analysis sheds new light on the issue of fiscal/monetary interaction by evaluating the steady state implications of policy coordination in a dynamic Markov game. As is well known, Kydland and Prescott (1977) and Barro and Gordon (1983) showed that discretionary p ...
Fiscal Policy and the Poor in LAC - Centro Global para el Desarrollo
... redistributive function properly; and 2) public opinion surveys suggest that Latin American citizens overwhelmingly see the distribution of wealth in their countries as being “unfair” or “very unfair”.9 Clearly, something is amiss. The two core components of fiscal policy, revenues and spending, pla ...
... redistributive function properly; and 2) public opinion surveys suggest that Latin American citizens overwhelmingly see the distribution of wealth in their countries as being “unfair” or “very unfair”.9 Clearly, something is amiss. The two core components of fiscal policy, revenues and spending, pla ...
Statistical Appendix
... the 1993 version of the System of National Accounts (SNA). The IMF’s sector statistical standards—the Balance of Payments Manual, Fifth Edition (BPM5), the Monetary and Financial Statistics Manual (MFSM 2000), and the Government Finance Statistics Manual 2001 (GFSM 2001)—have all been aligned with t ...
... the 1993 version of the System of National Accounts (SNA). The IMF’s sector statistical standards—the Balance of Payments Manual, Fifth Edition (BPM5), the Monetary and Financial Statistics Manual (MFSM 2000), and the Government Finance Statistics Manual 2001 (GFSM 2001)—have all been aligned with t ...
8 - of Planning Commission
... Great Depression, the fact that the world economy recovered smartly after only one year of negative growth has been remarkable. The recovery has not been without problems: unemployment has remained stubbornly high in industrialized countries and inflationary pressures have surfaced in emerging marke ...
... Great Depression, the fact that the world economy recovered smartly after only one year of negative growth has been remarkable. The recovery has not been without problems: unemployment has remained stubbornly high in industrialized countries and inflationary pressures have surfaced in emerging marke ...
S1500196_en.pdf
... region need to strengthen their capacity for economic growth. However, a true revolution is also needed in education, as a complement of our values, our societies, our competencies and the promotion of economic and social innovation. Acquiring knowledge and updating skills is an ongoing process and ...
... region need to strengthen their capacity for economic growth. However, a true revolution is also needed in education, as a complement of our values, our societies, our competencies and the promotion of economic and social innovation. Acquiring knowledge and updating skills is an ongoing process and ...
Big-bang versus Gradualism? - uni
... institutions. Hayrylyshyn (2007: 3-4, Fn 6) points out that both approaches recognize the importance of institutional change – which will be of special interest for my further argumentation – but that it was clearly more central to the thinking of the gradualists, who argued for delaying liberalizat ...
... institutions. Hayrylyshyn (2007: 3-4, Fn 6) points out that both approaches recognize the importance of institutional change – which will be of special interest for my further argumentation – but that it was clearly more central to the thinking of the gradualists, who argued for delaying liberalizat ...
Discussion 1. Benoît Coeuré Introduction
... effect of globalisation on income distribution remains a debated issue. Skeptical opinions are heard, in both developing and industrialised countries, be it in civil society or among economists, which denounce an increasing dispersion of income both within countries and between countries, ascribed t ...
... effect of globalisation on income distribution remains a debated issue. Skeptical opinions are heard, in both developing and industrialised countries, be it in civil society or among economists, which denounce an increasing dispersion of income both within countries and between countries, ascribed t ...
The Political Economy of the Asian Crisis
... historical trends. European unemployment has hovered near depression levels for a decade while in the US, median real wages have substantially declined and inequality has risen dramatically since the late 1970s. In much of the South, the situation is even worse. Latin America had its “lost decade” a ...
... historical trends. European unemployment has hovered near depression levels for a decade while in the US, median real wages have substantially declined and inequality has risen dramatically since the late 1970s. In much of the South, the situation is even worse. Latin America had its “lost decade” a ...
The Political Economy of Policy Reform: Insights from Southeast Asia
... where political processes are more personalistic, institutions often less well established, outcomes more fluid, and the detailed case study literature on economic policy making still in its infancy. We therefore need more case study evidence, of both success and failure, to understand why and how s ...
... where political processes are more personalistic, institutions often less well established, outcomes more fluid, and the detailed case study literature on economic policy making still in its infancy. We therefore need more case study evidence, of both success and failure, to understand why and how s ...
NOTAS 47 ING_en.pdf
... The region continues to show a current accounts surplus, albeit with sharp differences among countries. Particularly noteworthy is the negative impact on current accounts in Central America and most Caribbean nations from higher oil prices. Accompanying this trend in current accounts is an upturn in ...
... The region continues to show a current accounts surplus, albeit with sharp differences among countries. Particularly noteworthy is the negative impact on current accounts in Central America and most Caribbean nations from higher oil prices. Accompanying this trend in current accounts is an upturn in ...
Lessons From Countries That Have Sustained Their
... (such as exports), institutions with some degree of accountability, and exit strategies when results were below expectations. Downturns or adverse shocks have been taken as opportunities for decisive reforms that strengthened economic foundations, rather than as excuses for inaction. The oil shock o ...
... (such as exports), institutions with some degree of accountability, and exit strategies when results were below expectations. Downturns or adverse shocks have been taken as opportunities for decisive reforms that strengthened economic foundations, rather than as excuses for inaction. The oil shock o ...
Economic Integration in Latin America
... member countries. This paper aims to make the case for economic union rather than a low level of economic integration, which in most of the cases already exists in one way or another. In order to achieve a continent-wide economic union careful and rigorous investigation about macroeconomic variables ...
... member countries. This paper aims to make the case for economic union rather than a low level of economic integration, which in most of the cases already exists in one way or another. In order to achieve a continent-wide economic union careful and rigorous investigation about macroeconomic variables ...
Inside Money Study Guide
... About the IMF they see the advantages of engaging in international economic policy cooperation through the IMF, the central institution of the international monetary system. The IMF undertakes three main activities. First is monitoring economic developments and policies, a practice known as surveill ...
... About the IMF they see the advantages of engaging in international economic policy cooperation through the IMF, the central institution of the international monetary system. The IMF undertakes three main activities. First is monitoring economic developments and policies, a practice known as surveill ...
Committee: United Nations Development Programme
... Like in much of the rest of Africa, poverty has remained a major challenge to Malawi. As a predominantly rural country in which the majority of the population is engaged in subsistence farming, it is susceptible to adverse weather conditions and climate change. In 1998, the Institute for Humane Stud ...
... Like in much of the rest of Africa, poverty has remained a major challenge to Malawi. As a predominantly rural country in which the majority of the population is engaged in subsistence farming, it is susceptible to adverse weather conditions and climate change. In 1998, the Institute for Humane Stud ...
Structural adjustment in East and Southeast Asia: lessons from Latin
... First, most of the Asian NICs, and especially those of Southeast Asia, have long been part of a ``Chinese network of capital'' (McGee, 1984; Yeung, 2000), which links the leading sectors of the capitalist class with each other and with markets in mainland China. This has not always meant robust econ ...
... First, most of the Asian NICs, and especially those of Southeast Asia, have long been part of a ``Chinese network of capital'' (McGee, 1984; Yeung, 2000), which links the leading sectors of the capitalist class with each other and with markets in mainland China. This has not always meant robust econ ...
Speech: The Role of International Financial Institutions
... three factors: a reluctance of the Europeans to give up their disproportionate representation in the major institutions, uneven pressure for change coming from the United States, and the fact that, as more countries have emerged on the global stage as important players demanding a say, cooperation h ...
... three factors: a reluctance of the Europeans to give up their disproportionate representation in the major institutions, uneven pressure for change coming from the United States, and the fact that, as more countries have emerged on the global stage as important players demanding a say, cooperation h ...
Comparative Policy and Performance in Mesa-Lago`s
... measure these non-economic dimensions has been the subject of less research and discussion than the economic dimension. Nonetheless similar principles apply. Carmelo is aware of this literature and provides six indicators of performance that fall into these areas under the heading of social standard ...
... measure these non-economic dimensions has been the subject of less research and discussion than the economic dimension. Nonetheless similar principles apply. Carmelo is aware of this literature and provides six indicators of performance that fall into these areas under the heading of social standard ...
Latin America and the Caribbean: Are Chills Here to Stay?
... Overall, global growth is projected to remain modest at 3.1 percent in 2016— in line with 2015 outcomes and expectations outlined in the April World Economic Outlook— and at 3.4 percent in 2017. Although the growth outlook for advanced economies has weakened (to 1.6 percent in 2016 and 1.8 percent i ...
... Overall, global growth is projected to remain modest at 3.1 percent in 2016— in line with 2015 outcomes and expectations outlined in the April World Economic Outlook— and at 3.4 percent in 2017. Although the growth outlook for advanced economies has weakened (to 1.6 percent in 2016 and 1.8 percent i ...
policy space
... current policy space only by opting out of at least some of their international commitments. This paper takes a different perspective. It examines how developing countries can effectively use existing national policy space, and indeed enlarge it, without opting out of international commitments.1 Its ...
... current policy space only by opting out of at least some of their international commitments. This paper takes a different perspective. It examines how developing countries can effectively use existing national policy space, and indeed enlarge it, without opting out of international commitments.1 Its ...
Dar Course on Industrial Development and Globalisation
... III. Selected measures to support domestic firms (1): TEMPORARY/TIME BOUND protection • Tariffs are used to protect a given industry and kept at their initial maximum level for a given time period. They can be brought down gradually until the industry matures. • These measures depend on government ...
... III. Selected measures to support domestic firms (1): TEMPORARY/TIME BOUND protection • Tariffs are used to protect a given industry and kept at their initial maximum level for a given time period. They can be brought down gradually until the industry matures. • These measures depend on government ...
Modern Perspectives on Fiscal Stabilization Policies 1 Introduction
... purchases can be used to increase employment, thus reducing the welfare losses resulting from an inefficiently low level of activity. It is also clear from expression (2) that the incentive to raise government spending will be greater the larger is the multiplier dYt / dGt and the lower (i.e., the m ...
... purchases can be used to increase employment, thus reducing the welfare losses resulting from an inefficiently low level of activity. It is also clear from expression (2) that the incentive to raise government spending will be greater the larger is the multiplier dYt / dGt and the lower (i.e., the m ...
The Strange Case of Domestic Policy Cooperation in the
... This paper examines a relatively forgotten aspect of policy coordination, namely domestic policy cooperation.1 Most of the modern policy coordination literature has focused on the international dimensions, generally with an implicit assumption that cooperation should occur across similar policy tool ...
... This paper examines a relatively forgotten aspect of policy coordination, namely domestic policy cooperation.1 Most of the modern policy coordination literature has focused on the international dimensions, generally with an implicit assumption that cooperation should occur across similar policy tool ...