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... fifth part analyses politics of fiscal consolidations and the following section investigates into more detail periods of fiscal consolidations in NMSs. Seventh part concludes the paper by presenting some insights from the EUR-15 pre-euro adoption period. II. FISCAL POLICY’S MAIN PATTERNS IN THE NMSs ...
... fifth part analyses politics of fiscal consolidations and the following section investigates into more detail periods of fiscal consolidations in NMSs. Seventh part concludes the paper by presenting some insights from the EUR-15 pre-euro adoption period. II. FISCAL POLICY’S MAIN PATTERNS IN THE NMSs ...
The Development Centre - Secretariat for External Relations
... • Spending on education as a share of total public expenditure has been growing in Latin America (now stands at around 4%, similar to OECD level), but still there is room for improvement • Latin America’s PISA results give cause for concern: - OECD-Latin America testing gap equivalent to 3 years wor ...
... • Spending on education as a share of total public expenditure has been growing in Latin America (now stands at around 4%, similar to OECD level), but still there is room for improvement • Latin America’s PISA results give cause for concern: - OECD-Latin America testing gap equivalent to 3 years wor ...
Investigating Neutrality and Lack of Neutrality of Money in Iranian... Advances in Environmental Biology AENSI Journals
... wages [1]. Without having an impact on real variable, in an open economy with flexible exchange rates, the nominal exchange rate changes as appropriate. The basic idea is that any changes do not result in the production, employment, interest rates and real exchange rates and so on. The only exceptio ...
... wages [1]. Without having an impact on real variable, in an open economy with flexible exchange rates, the nominal exchange rate changes as appropriate. The basic idea is that any changes do not result in the production, employment, interest rates and real exchange rates and so on. The only exceptio ...
Correlates of Mobilization in the Two World Wars
... the ability to sustain such a mobilization effort), taken together, form the object of study in this paper. To what extent can we explain success in wartime mobilization by the underlying economic factors? In previous work one of the authors found a simple bivariate approach to be suggestive.9 Figur ...
... the ability to sustain such a mobilization effort), taken together, form the object of study in this paper. To what extent can we explain success in wartime mobilization by the underlying economic factors? In previous work one of the authors found a simple bivariate approach to be suggestive.9 Figur ...
Outlook for Economic Activity and Prices (April 2016, full text)
... mechanism in which inflation rises moderately accompanied by wage increases has been operating steadily. Nevertheless, given that corporate profits have been at record high levels ...
... mechanism in which inflation rises moderately accompanied by wage increases has been operating steadily. Nevertheless, given that corporate profits have been at record high levels ...
Slide 1
... not go into effect, that discretionary spending grows at the rate of inflation, that war costs slow gradually, that Medicare physician payment cuts are postponed, and that all expiring tax provisions are extended with AMT relief, and that the payroll tax cuts and unemployment benefits are extended f ...
... not go into effect, that discretionary spending grows at the rate of inflation, that war costs slow gradually, that Medicare physician payment cuts are postponed, and that all expiring tax provisions are extended with AMT relief, and that the payroll tax cuts and unemployment benefits are extended f ...
NBER WORKING PAPER SERIES OPTIMAL SIMPLE AND IMPLEMENTABLE MONETARY AND FISCAL RULES
... the transmission of aggregate disturbances. It is therefore natural to expect that investment spending should play a role in shaping optimal monetary policy. Indeed it has been shown, that for a given monetary regime the determinacy properties of a standard Neo-Keynesian model can change dramaticall ...
... the transmission of aggregate disturbances. It is therefore natural to expect that investment spending should play a role in shaping optimal monetary policy. Indeed it has been shown, that for a given monetary regime the determinacy properties of a standard Neo-Keynesian model can change dramaticall ...
1997-40
... where B is the resource balance, Y is output (gross domestic product), and A is absorption (total private and public consumption and investment), all measured in constant prices. Jaspersen follows Salter in assuming that both output and absorption are separable into tradable and non-tradable product ...
... where B is the resource balance, Y is output (gross domestic product), and A is absorption (total private and public consumption and investment), all measured in constant prices. Jaspersen follows Salter in assuming that both output and absorption are separable into tradable and non-tradable product ...
A Level Economics Mark Scheme Unit 2 JAN 2012
... consider both the short-run and long-run effects of public spending cuts for different aspects of economic performance. They are also likely to assess both the demand-side and supplyside consequences. Candidates should also be rewarded for relevant discussion of the microeconomic consequences but, o ...
... consider both the short-run and long-run effects of public spending cuts for different aspects of economic performance. They are also likely to assess both the demand-side and supplyside consequences. Candidates should also be rewarded for relevant discussion of the microeconomic consequences but, o ...
Chapter 2.pmd
... commodities. Otherwise one’s need for commodities does not get recognised by the market. We have already discussed above that one’s ability to buy commodities comes from the income one earns as labourer (earning wages), or as entrepreneur (earning profits), or as landlord (earning rents), or as owne ...
... commodities. Otherwise one’s need for commodities does not get recognised by the market. We have already discussed above that one’s ability to buy commodities comes from the income one earns as labourer (earning wages), or as entrepreneur (earning profits), or as landlord (earning rents), or as owne ...
Alternative Perspectives on Stabilization Policy
... preceding chapters, monetary and fiscal policy can exert a powerful impact on aggregate demand and, thereby, on inflation and unemployment. When Congress or the president is considering a major change in fiscal policy, or when the Federal Reserve is considering a major change in monetary policy, for ...
... preceding chapters, monetary and fiscal policy can exert a powerful impact on aggregate demand and, thereby, on inflation and unemployment. When Congress or the president is considering a major change in fiscal policy, or when the Federal Reserve is considering a major change in monetary policy, for ...
Anna Jacobson Schwartz: In Memoriam George S. Tavlas
... historical study of the relationship between money and other variables in the United States. The authors did not envisage that the proposed research project would turn out to be anything like the massive study that would eventually be published in 1963. At the time that they started their work on A ...
... historical study of the relationship between money and other variables in the United States. The authors did not envisage that the proposed research project would turn out to be anything like the massive study that would eventually be published in 1963. At the time that they started their work on A ...
2004-2
... lenders would not be willing to allow the government to perpetually pay their interest obligation by borrowing more (Cuddington, 1996, p. 8). The value of the opening balance of debt (as a proportion of GDP) is affected as we move forward in time by the projected real interest rate and GDP growth ra ...
... lenders would not be willing to allow the government to perpetually pay their interest obligation by borrowing more (Cuddington, 1996, p. 8). The value of the opening balance of debt (as a proportion of GDP) is affected as we move forward in time by the projected real interest rate and GDP growth ra ...
Complementarity Between Public and Private
... goods are exogenously given in the first period, but endogenised in the second period by using incremental capital-output ratios and some investment allocation rules. In the absence of a capital coefficients matrix, the demand for and the supply of capital goods (comprising machinery and equipment a ...
... goods are exogenously given in the first period, but endogenised in the second period by using incremental capital-output ratios and some investment allocation rules. In the absence of a capital coefficients matrix, the demand for and the supply of capital goods (comprising machinery and equipment a ...
The Law of Diminishing Elasticity of Demand in - Gredeg
... the human factor is much more important. As output increases duds may be taken on . . .” [Harrod, 1936b: 53] However, this factor may not be so important. After a first weeding out of inefficient plants, Harrod seriously doubted there would be a marked increase in marginal returns. Thus, at the macr ...
... the human factor is much more important. As output increases duds may be taken on . . .” [Harrod, 1936b: 53] However, this factor may not be so important. After a first weeding out of inefficient plants, Harrod seriously doubted there would be a marked increase in marginal returns. Thus, at the macr ...
NBER WORKING PAPER SERIES A GENERAL EQUILIBRIUM MODEL OF TAXATION Joel Slemrod
... model of capital income taxation. Its chief advantage over existing models of the effects of taxation is that it recognizes that agents may adjust their financial behavior in response to changes in the way that capital income is taxed. By integrating a structural treatment of portfolio choice and fi ...
... model of capital income taxation. Its chief advantage over existing models of the effects of taxation is that it recognizes that agents may adjust their financial behavior in response to changes in the way that capital income is taxed. By integrating a structural treatment of portfolio choice and fi ...
Macreconomics: Policy and Practice (Mishkin)
... 41) Common sense suggests (and macroeconomists agree!) that sustained economic growth over extended time periods is more important than the economy's short-term fluctuations. Why, then, do macroeconomists (and policymakers, and the general public) care so much about the business cycle? Answer: One r ...
... 41) Common sense suggests (and macroeconomists agree!) that sustained economic growth over extended time periods is more important than the economy's short-term fluctuations. Why, then, do macroeconomists (and policymakers, and the general public) care so much about the business cycle? Answer: One r ...
What Is the Federal Bureaucracy?
... There are 15 executive departments in the federal bureaucracy today. We will take a closer look at three of those departments: the Department of Health and Human Services, the Department of Defense, and the Department of Homeland Security. Health and Human Services • Established to protect health of ...
... There are 15 executive departments in the federal bureaucracy today. We will take a closer look at three of those departments: the Department of Health and Human Services, the Department of Defense, and the Department of Homeland Security. Health and Human Services • Established to protect health of ...
Monetary Policy and Asset Prices: When Cleaning
... binding ZLB. Our key question can be formulated as follows: What does the ZLB imply for the choice of the optimal monetary policy strategy during an asset price boom-and-bust cycle? We assume that households are levered to settle housing transactions. When house prices drop precipitously, indebted h ...
... binding ZLB. Our key question can be formulated as follows: What does the ZLB imply for the choice of the optimal monetary policy strategy during an asset price boom-and-bust cycle? We assume that households are levered to settle housing transactions. When house prices drop precipitously, indebted h ...
The St~cture of Financial Markets and the Monetary Mechanism
... costs in terms of high unemployment and lost output. Second, it reflects the existence of important conceptual and technical difficulties in the formulation and successful implementation of policy on the basis of monetary aggregate targets in a world of uncertainty regarding the stability of economi ...
... costs in terms of high unemployment and lost output. Second, it reflects the existence of important conceptual and technical difficulties in the formulation and successful implementation of policy on the basis of monetary aggregate targets in a world of uncertainty regarding the stability of economi ...
5 Chartalism and the tax-driven approach to money
... offices for extinguishing debt to the state. The purpose of taxation is not to finance government spending but to create demand for the currency – hence the term ‘tax-driven money’. Logically, and in practice, government spending comes prior to taxation, to provide that which is necessary to pay taxes ...
... offices for extinguishing debt to the state. The purpose of taxation is not to finance government spending but to create demand for the currency – hence the term ‘tax-driven money’. Logically, and in practice, government spending comes prior to taxation, to provide that which is necessary to pay taxes ...
Skaidrė 1
... Finance To set forth a procedure regulating state monetary funds management, forecasting, and accountability When forecasting need of borrowed funds to assess all possibilities provided by the Government for use of temporarily free money of state monetary funds To speed the investment of tempo ...
... Finance To set forth a procedure regulating state monetary funds management, forecasting, and accountability When forecasting need of borrowed funds to assess all possibilities provided by the Government for use of temporarily free money of state monetary funds To speed the investment of tempo ...
