keynesian and new(keynesian models: the impact of military
... principles that underlie optimal policy management. We then consider …scal policy implications by adding various real world complications to test how the prediction from theory is linked with policy-making in practice. Speci…cally, it will serve as a basis for the empirical work to assess the impact ...
... principles that underlie optimal policy management. We then consider …scal policy implications by adding various real world complications to test how the prediction from theory is linked with policy-making in practice. Speci…cally, it will serve as a basis for the empirical work to assess the impact ...
vsi10 roc Hung2 13364920 en
... analysis. In March 2005, Fed Chairman Ben Bernanke proposed the notion that “savings glut” (i.e., too much saving than needed for domestic investment) in some part of the world – notably China and some oil-exporting countries – has contributed to the large US current account deficit and global imbal ...
... analysis. In March 2005, Fed Chairman Ben Bernanke proposed the notion that “savings glut” (i.e., too much saving than needed for domestic investment) in some part of the world – notably China and some oil-exporting countries – has contributed to the large US current account deficit and global imbal ...
Rules-Based Fiscal Policy in France, Germany, Italy, and Spain
... of the still-high tax burden while maintaining an adequate level of public sector capital spending. This study argues that the four countries should place more emphasis on spending rules within the boundaries set by the Stability and Growth Pact. At present, fiscal frameworks are geared to achieving ...
... of the still-high tax burden while maintaining an adequate level of public sector capital spending. This study argues that the four countries should place more emphasis on spending rules within the boundaries set by the Stability and Growth Pact. At present, fiscal frameworks are geared to achieving ...
Unfunded Liabilities of State and Local Government
... Many state and local government pension plans’ liabilities are calculated using discount rates that are not commensurate with the risk they may pose to taxpayers. Accounting standards allow pension funds to calculate their liabilities using a discount rate comparable to the expected rate of return o ...
... Many state and local government pension plans’ liabilities are calculated using discount rates that are not commensurate with the risk they may pose to taxpayers. Accounting standards allow pension funds to calculate their liabilities using a discount rate comparable to the expected rate of return o ...
NBER WORKING PAPER SERIES GROWTH FORECAST ERRORS AND FISCAL MULTIPLIERS Daniel Leigh
... With many economies in fiscal consolidation mode, there has been an intense debate about the size of fiscal multipliers. At the same time, activity has disappointed in a number of economies undertaking fiscal consolidation. A natural question therefore is whether forecasters have underestimated fisc ...
... With many economies in fiscal consolidation mode, there has been an intense debate about the size of fiscal multipliers. At the same time, activity has disappointed in a number of economies undertaking fiscal consolidation. A natural question therefore is whether forecasters have underestimated fisc ...
IOSR Journal Of Humanities And Social Science (IOSR-JHSS)
... Levels of Development Expenditures followed a trend similar to that of the total public expenditures. The share of Development Expenditures in the GDP rose after 1981-82 and reached its peak values in the mid 1980s. In the 1990s and 2000s, the share of Development Expenditures in GDP fell sharply. T ...
... Levels of Development Expenditures followed a trend similar to that of the total public expenditures. The share of Development Expenditures in the GDP rose after 1981-82 and reached its peak values in the mid 1980s. In the 1990s and 2000s, the share of Development Expenditures in GDP fell sharply. T ...
NBER WORKING PAPER SERIES LIQUIDITY TRAPS AND EXPECTATION DYNAMICS:
... this issue in detail and …nd that wealth e¤ects can eventually return the steady state, but these mechanisms can be slow and in economy to the some cases this e¤ect fails.3 If wealth e¤ects or lower bounds on in‡ation are not su¢ cient to avoid the de‡ation trap then …scal policy may be necessary. W ...
... this issue in detail and …nd that wealth e¤ects can eventually return the steady state, but these mechanisms can be slow and in economy to the some cases this e¤ect fails.3 If wealth e¤ects or lower bounds on in‡ation are not su¢ cient to avoid the de‡ation trap then …scal policy may be necessary. W ...
Chapter 30
... The Multiplier, Imports, and Income Taxes The size of the multiplier depends not only on consumption decisions but also on imports and income taxes. Imports make the multiplier smaller than it otherwise would be because only expenditure on U.S.-made goods and services increases U.S. real GDP. The ...
... The Multiplier, Imports, and Income Taxes The size of the multiplier depends not only on consumption decisions but also on imports and income taxes. Imports make the multiplier smaller than it otherwise would be because only expenditure on U.S.-made goods and services increases U.S. real GDP. The ...
Chapter 15
... The Multiplier, Imports, and Income Taxes The size of the multiplier depends not only on consumption decisions but also on imports and income taxes. Imports make the multiplier smaller than it otherwise would be because only expenditure on U.S.-made goods and services increases U.S. real GDP. The ...
... The Multiplier, Imports, and Income Taxes The size of the multiplier depends not only on consumption decisions but also on imports and income taxes. Imports make the multiplier smaller than it otherwise would be because only expenditure on U.S.-made goods and services increases U.S. real GDP. The ...
'The Economics of the Recession'
... So these “automatic stabilisers” should be allowed to function. That is what is starting to happen now. But we shouldn’t be fooled. This increase in borrowing is the inevitable consequence of recession not a strategy to fight it. It is an overdraft, not a plan. The fact remains that you should let m ...
... So these “automatic stabilisers” should be allowed to function. That is what is starting to happen now. But we shouldn’t be fooled. This increase in borrowing is the inevitable consequence of recession not a strategy to fight it. It is an overdraft, not a plan. The fact remains that you should let m ...
15.1 expenditure plans and real gdp
... 15.3 THE EXPENDITURE MULTIPLIER The marginal tax rate determines the extent to which income tax payments change when real GDP changes. The marginal tax rate is the fraction of a change in real GDP that is paid in income taxes—the change in tax payments divided by the change in real GDP. The larger t ...
... 15.3 THE EXPENDITURE MULTIPLIER The marginal tax rate determines the extent to which income tax payments change when real GDP changes. The marginal tax rate is the fraction of a change in real GDP that is paid in income taxes—the change in tax payments divided by the change in real GDP. The larger t ...
Monetary Policy and the Economy Q3/04 – Expansionary Fiscal
... empirical literature, Ricardian equivalence is highly ambiguous, which would support Ricardos doubts that his equivalence idea might not work in practice. 2.3 Neoclassical Effects ...
... empirical literature, Ricardian equivalence is highly ambiguous, which would support Ricardos doubts that his equivalence idea might not work in practice. 2.3 Neoclassical Effects ...
public - Europa.eu
... delivered or not on its policy commitments. In other words, the careful analysis evaluates whether the Member State concerned has put in place enough actions to comply with the EDP recommendation. In sum, any conclusion needs to take into consideration the quantitative information from the expenditu ...
... delivered or not on its policy commitments. In other words, the careful analysis evaluates whether the Member State concerned has put in place enough actions to comply with the EDP recommendation. In sum, any conclusion needs to take into consideration the quantitative information from the expenditu ...
Macro CH 30 sample questions
... ____ 14. Induced expenditure includes a. consumption expenditures, government expenditures on goods and services, and imports. b. investment, consumption expenditures, and exports. c. consumption expenditures and imports. d. consumption expenditures and exports. e. consumption expenditures and gover ...
... ____ 14. Induced expenditure includes a. consumption expenditures, government expenditures on goods and services, and imports. b. investment, consumption expenditures, and exports. c. consumption expenditures and imports. d. consumption expenditures and exports. e. consumption expenditures and gover ...
DOC
... Compared to 2006, and in looking at the development of previous years, general government revenues in 2007 increased at an above-average rate (11.0%). This was especially due to the high increase of tax revenues (taxes and social contributions), which increased by 10.1% compared to 2006. Individual ...
... Compared to 2006, and in looking at the development of previous years, general government revenues in 2007 increased at an above-average rate (11.0%). This was especially due to the high increase of tax revenues (taxes and social contributions), which increased by 10.1% compared to 2006. Individual ...
Size, Determinants, and Use in Macroeconomic Projections
... Multipliers are also important elements to take into consideration in policy advice and design.2 Underestimating multipliers may lead countries to set unachievable fiscal targets, and miscalculate the amount of adjustment necessary to curb their debt ratio (Eyraud and Weber, 2012, 2013). This could ...
... Multipliers are also important elements to take into consideration in policy advice and design.2 Underestimating multipliers may lead countries to set unachievable fiscal targets, and miscalculate the amount of adjustment necessary to curb their debt ratio (Eyraud and Weber, 2012, 2013). This could ...
A model-based analysis of the macroeconomic
... growth – that is, an increase in aggregate output and a simultaneous decline in per capita output. In the labour market, a rise in employment as well as a reduction in wages can be identified. The Commission does not, however, differentiate between the effects on different groups of the population, ...
... growth – that is, an increase in aggregate output and a simultaneous decline in per capita output. In the labour market, a rise in employment as well as a reduction in wages can be identified. The Commission does not, however, differentiate between the effects on different groups of the population, ...
Abenomics
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Abenomics (アベノミクス, Abenomikusu) refers to the economic policies advocated by Shinzō Abe since the December 2012 general election, which elected Abe to his second term as prime minister of Japan. Abenomics is based upon ""three arrows"" of fiscal stimulus, monetary easing and structural reforms. The Economist characterized the program as a ""mix of reflation, government spending and a growth strategy designed to jolt the economy out of suspended animation that has gripped it for more than two decades.""The term ""Abenomics"" is a portmanteau of Abe and economics, and follows previous political neologisms for economic policies linked to specific leaders, such as Reaganomics, Clintonomics and Rogernomics.