Expenditure Rules: Effective Tools for Sound Fiscal Policy? 29 WP/15/
... often not adopted at the same time as these rules (Figure 5). Only six of the 31 expenditure rules were introduced together with other rules. For instance, Brazil, Argentina, and Peru included expenditure rules in their fiscal responsibility laws as part of a wider set of reforms in 1999 and 2000. H ...
... often not adopted at the same time as these rules (Figure 5). Only six of the 31 expenditure rules were introduced together with other rules. For instance, Brazil, Argentina, and Peru included expenditure rules in their fiscal responsibility laws as part of a wider set of reforms in 1999 and 2000. H ...
Inflation Targeting
... viewed as a special case, because New Zealand was a small open economy that had just announced a number of audacious reforms. Those reforms were helpful in restraining inflation (Chart 1), particularly in the country’s significant fiscal consolidation, labourmarket reforms, and major reductions in b ...
... viewed as a special case, because New Zealand was a small open economy that had just announced a number of audacious reforms. Those reforms were helpful in restraining inflation (Chart 1), particularly in the country’s significant fiscal consolidation, labourmarket reforms, and major reductions in b ...
Understanding the Greenspan Standard
... all this without rules or even any serious precommitments.8 There is, furthermore, a powerful counterargument to the alleged virtues of rule-like behavior—one that seems to be insufficiently appreciated in the academic world, but which was articulated well in an important address that Greenspan deli ...
... all this without rules or even any serious precommitments.8 There is, furthermore, a powerful counterargument to the alleged virtues of rule-like behavior—one that seems to be insufficiently appreciated in the academic world, but which was articulated well in an important address that Greenspan deli ...
The National Informal Economy Policy 2011-2015
... producers, and yield to them higher cash incomes. It will supply a growing proportion of the consumption and investment needs of the low- and middle-income population, leading to the progressive 'nationalisation' of production in the PNG economy. The policy nominates two 'arms' for action to achieve ...
... producers, and yield to them higher cash incomes. It will supply a growing proportion of the consumption and investment needs of the low- and middle-income population, leading to the progressive 'nationalisation' of production in the PNG economy. The policy nominates two 'arms' for action to achieve ...
Myanmar - INTRA Mekong
... •Restructuring SMEs sectors 2. Growth of labor from low-end to medium productivity and total and high-end products & factor productivity of services ; from OEM to SMEs ODM and OBM •Creating of business ethic 3. Growth of SMEs with CSR export •Facilitating common infrastructures for innovation and pr ...
... •Restructuring SMEs sectors 2. Growth of labor from low-end to medium productivity and total and high-end products & factor productivity of services ; from OEM to SMEs ODM and OBM •Creating of business ethic 3. Growth of SMEs with CSR export •Facilitating common infrastructures for innovation and pr ...
Vote of confidence in the promise of ASEAN www.pwc.com/apec The ASEAN cut
... Business leaders in the 7 APEC economies in ASEAN are not as optimistic as their peers from the rest of APEC on the likelihood of fewer barriers and restrictions to facilitate business growth and trade in the Asia Pacific by 2020. The ongoing negotiations to promote free trade and economic integrati ...
... Business leaders in the 7 APEC economies in ASEAN are not as optimistic as their peers from the rest of APEC on the likelihood of fewer barriers and restrictions to facilitate business growth and trade in the Asia Pacific by 2020. The ongoing negotiations to promote free trade and economic integrati ...
Principles of Macroeconomics
... 1.3 How Economists Use Theories and Models to Understand Economic Issues 1.4 How Economies Can Be Organized: An Overview of Economic Systems . . Chapter 2: Choice in a World of Scarcity . . . . . . . . . . . . . . . . . . . . . . 2.1 How Individuals Make Choices Based on Their Budget Constraint . . ...
... 1.3 How Economists Use Theories and Models to Understand Economic Issues 1.4 How Economies Can Be Organized: An Overview of Economic Systems . . Chapter 2: Choice in a World of Scarcity . . . . . . . . . . . . . . . . . . . . . . 2.1 How Individuals Make Choices Based on Their Budget Constraint . . ...
OpenStax College
... 1.3 How Economists Use Theories and Models to Understand Economic Issues 1.4 How Economies Can Be Organized: An Overview of Economic Systems . . Chapter 2: Choice in a World of Scarcity . . . . . . . . . . . . . . . . . . . . . . 2.1 How Individuals Make Choices Based on Their Budget Constraint . . ...
... 1.3 How Economists Use Theories and Models to Understand Economic Issues 1.4 How Economies Can Be Organized: An Overview of Economic Systems . . Chapter 2: Choice in a World of Scarcity . . . . . . . . . . . . . . . . . . . . . . 2.1 How Individuals Make Choices Based on Their Budget Constraint . . ...
the impact of monetary policy on output and inflation in india
... side of the economy in the form of the level of production at normal utilization of factors of production, given the current state of technology. Potential output is thus determined by the availability of factors of production and technological progress. Since prices are sticky in the short-run, dem ...
... side of the economy in the form of the level of production at normal utilization of factors of production, given the current state of technology. Potential output is thus determined by the availability of factors of production and technological progress. Since prices are sticky in the short-run, dem ...
Does Globalization Impact Entrepreneurship
... Work by Andersen & Herbertsson (2005) gives a theoretical basis for assumptions made; they already stated that elements such as increased Internet usage and MNCs presence and for example lower trade barriers are signs, if not criterions, of globalization in a country. Although the interest in intern ...
... Work by Andersen & Herbertsson (2005) gives a theoretical basis for assumptions made; they already stated that elements such as increased Internet usage and MNCs presence and for example lower trade barriers are signs, if not criterions, of globalization in a country. Although the interest in intern ...
Principles of Macroeconomics
... OpenStax learning resources are designed to be customized for each course. Our textbooks provide a solid foundation on which instructors can build, and our resources are conceived and written with flexibility in mind. Instructors can select the sections most relevant to their curricula and create a ...
... OpenStax learning resources are designed to be customized for each course. Our textbooks provide a solid foundation on which instructors can build, and our resources are conceived and written with flexibility in mind. Instructors can select the sections most relevant to their curricula and create a ...
NBER WORKING PAPER SERIES ANCHORING FISCAL EXPECTATIONS Eric M. Leeper Working Paper 15269
... that inflation is a monetary phenomenon and that inflation control is the appropriate purview of the central bank. Second, and perhaps more important, a political consensus developed that low and stable inflation is desirable because inflation fluctuations redistribute wealth in capricious ways [Fau ...
... that inflation is a monetary phenomenon and that inflation control is the appropriate purview of the central bank. Second, and perhaps more important, a political consensus developed that low and stable inflation is desirable because inflation fluctuations redistribute wealth in capricious ways [Fau ...
NBER WORKING PAPERS SERIES MODERATE INFLATION Rudiger Dornbusch 1050 Massachusetts Avenue
... including three that now suffer from moderate inflation, and four that successfully moved down to single digit inflation rates. We examine the roles of seigniorage, indexation and disindexation, the exchange rate commitment, and monetary and fiscal policy. ...
... including three that now suffer from moderate inflation, and four that successfully moved down to single digit inflation rates. We examine the roles of seigniorage, indexation and disindexation, the exchange rate commitment, and monetary and fiscal policy. ...
SP99: The Inflation Target Five Years On
... birthday is clearly far too early to judge the likely long-term success of the new approach. What is clear, however, is that the birth of the inflation target coincided with one of the most successful episodes of the UK’s post-war economic performance. ...
... birthday is clearly far too early to judge the likely long-term success of the new approach. What is clear, however, is that the birth of the inflation target coincided with one of the most successful episodes of the UK’s post-war economic performance. ...
In ation and Unemployment in the U.S. and Canada: A Common
... more inflation for less unemployment permanently. All this changed in the higherinflation decades of the 1970s and 1980s. While short-run trade-offs remained, they were shifting over time to such an extent that it appeared little or no inflation-unemployment trade-off was left for policymakers to ex ...
... more inflation for less unemployment permanently. All this changed in the higherinflation decades of the 1970s and 1980s. While short-run trade-offs remained, they were shifting over time to such an extent that it appeared little or no inflation-unemployment trade-off was left for policymakers to ex ...
S
... said to exhibit a positive autocorrelation if an aboveaverage (below-average) reading for the variable over the past few time periods tended to be followed by an above-average (below-average) reading for the variable in the current period. A variable is said to exhibit negative autocorrelation when ...
... said to exhibit a positive autocorrelation if an aboveaverage (below-average) reading for the variable over the past few time periods tended to be followed by an above-average (below-average) reading for the variable in the current period. A variable is said to exhibit negative autocorrelation when ...
Bootcamp Review Worksheet
... 19. Economic Freedom (SLIDE 20) ____________________________________________________________ _________________________________________________________________________________________ 20. Economic Security (SLIDE 21) _____________________________________________________________ ______________________ ...
... 19. Economic Freedom (SLIDE 20) ____________________________________________________________ _________________________________________________________________________________________ 20. Economic Security (SLIDE 21) _____________________________________________________________ ______________________ ...
PROJECT REPORT
... persistence time-invariance. Studies by Barsky (1987), Evans and Wachtel (1993), Brainard and Perry (2000), Taylor (2000), Ravenna (2000), Kim et al. (2001), Cogley and Sargent (2001), Stock (2001), Benati (2003), Levin and Piger (2004), O’Reilly and Whelan (2004) and Pivetta and Reis (2007) provide ...
... persistence time-invariance. Studies by Barsky (1987), Evans and Wachtel (1993), Brainard and Perry (2000), Taylor (2000), Ravenna (2000), Kim et al. (2001), Cogley and Sargent (2001), Stock (2001), Benati (2003), Levin and Piger (2004), O’Reilly and Whelan (2004) and Pivetta and Reis (2007) provide ...
Designing a Simple Loss Function for Central Banks: Does a Dual
... premise when society assigns an objective for its central bank is that it should aggrandize welfare for its citizens. The recent global …nancial crisis and sovereign debt crisis in Europe, which caused central banks to slash interest rates and unleash large purchases of government bonds to prevent d ...
... premise when society assigns an objective for its central bank is that it should aggrandize welfare for its citizens. The recent global …nancial crisis and sovereign debt crisis in Europe, which caused central banks to slash interest rates and unleash large purchases of government bonds to prevent d ...
MACROECONOMICS-SET2 - Antonio Ciccone`s Webpage
... We have therefore shown the three following results: - Result 1: Over time capital per efficiency worker tends to its balanced growth path value, which we have denoted by k BGP (as long as the initial capital stock is strictly positive) ...
... We have therefore shown the three following results: - Result 1: Over time capital per efficiency worker tends to its balanced growth path value, which we have denoted by k BGP (as long as the initial capital stock is strictly positive) ...
1 Milton Friedman`s Monetary Economics and the Quantity
... Meltzer and Clower. “This is one of those rare books that leave their mark on all future research on the subject, ” Tobin stated. The rest of Tobin’s summation is worth repeating: I have not done justice to the scope of this book. History presents the theoretically minded scholar with one challenge ...
... Meltzer and Clower. “This is one of those rare books that leave their mark on all future research on the subject, ” Tobin stated. The rest of Tobin’s summation is worth repeating: I have not done justice to the scope of this book. History presents the theoretically minded scholar with one challenge ...
The Utilization-Adjusted Output Gap: Is the Russian Economy
... estimates thus suggest that, in order to reduce inflation and increase growth, macroeconomic policies and reforms should not focus on stimulating demand but, rather, on raising potential output growth by alleviating supply-side constraints. Our results are subject to a number of caveats, and, theref ...
... estimates thus suggest that, in order to reduce inflation and increase growth, macroeconomic policies and reforms should not focus on stimulating demand but, rather, on raising potential output growth by alleviating supply-side constraints. Our results are subject to a number of caveats, and, theref ...
The Phenomenology of Economics The
... one’s own particular reality. The distance that scientists take from their own reality pervaded Debreu’s entire life, right down to his dress socks. Does not his daughter’s portrayal suggest that Gerard Debreu not only behaved discreetly with his closest fellows, but was even wary of himself? Debreu ...
... one’s own particular reality. The distance that scientists take from their own reality pervaded Debreu’s entire life, right down to his dress socks. Does not his daughter’s portrayal suggest that Gerard Debreu not only behaved discreetly with his closest fellows, but was even wary of himself? Debreu ...
Challenges of COMESA Monetary Integration
... To achieve the above objectives, it was considered essential that the member States should first go through a process of monetary and fiscal policy harmonization with a view to achieving macro-economic convergence. In this respect, convergence criteria were formulated to assist in gauging the progre ...
... To achieve the above objectives, it was considered essential that the member States should first go through a process of monetary and fiscal policy harmonization with a view to achieving macro-economic convergence. In this respect, convergence criteria were formulated to assist in gauging the progre ...
Post–World War II economic expansion
""Golden Age of capitalism"" redirects here. Other periods this term may refer to are Gilded Age and Belle Époque.The post–World War II economic expansion, also known as the postwar economic boom, the long boom, and the Golden Age of Capitalism, was a period of economic prosperity in the mid-20th century which occurred, following the end of World War II in 1945, and lasted until the early 1970s. It ended with the collapse of the Bretton Woods system in 1971, the 1973 oil crisis, and the 1973–1974 stock market crash, which led to the 1970s recession. Narrowly defined, the period spanned from 1945 to 1952, with overall growth lasting well until 1971, though there are some debates on dating the period, and booms in individual countries differed, some starting as early as 1945, and overlapping the rise of the East Asian economies into the 1980s or 1990s.During this time there was high worldwide economic growth; Western European and East Asian countries in particular experienced unusually high and sustained growth, together with full employment. Contrary to early predictions, this high growth also included many countries that had been devastated by the war, such as Greece (Greek economic miracle), West Germany (Wirtschaftswunder), France (Trente Glorieuses), Japan (Japanese post-war economic miracle), and Italy (Italian economic miracle).