Fiscal policy, pricing frictions and monetary accommodation
... mainstream New Keynesian paradigm, to understand the effects of government spending in general, and to evaluate in what sense current conditions are special relative to historical experience. Coenen et al. (2010) perform similar exercises in seven large scale models used by the policy institutions i ...
... mainstream New Keynesian paradigm, to understand the effects of government spending in general, and to evaluate in what sense current conditions are special relative to historical experience. Coenen et al. (2010) perform similar exercises in seven large scale models used by the policy institutions i ...
Global liquidity
... with a number of different developments: stock market rallies, low bond yields, rising commodity prices, real estate booms or strong increases in global monetary and credit aggregates. It has also been found to influence price and output fluctuations. The global financial crisis triggered shortages ...
... with a number of different developments: stock market rallies, low bond yields, rising commodity prices, real estate booms or strong increases in global monetary and credit aggregates. It has also been found to influence price and output fluctuations. The global financial crisis triggered shortages ...
First and Second Reviews of the Staff-Monitored Program and
... strengthening the anti-money laundering and combatting of financing of terrorism (AMLCFT) framework to stem illegal and speculative demand on foreign exchange. Implementing fiscal consolidation while protecting the poor. The government will continue to implement fiscal consolidation, mostly through ...
... strengthening the anti-money laundering and combatting of financing of terrorism (AMLCFT) framework to stem illegal and speculative demand on foreign exchange. Implementing fiscal consolidation while protecting the poor. The government will continue to implement fiscal consolidation, mostly through ...
GDP-linked bonds and sovereign default
... governments (or ‘sovereigns’) from unexpected poor growth outturns that might otherwise push them into a debt crisis. This is because the return on these bonds varies in proportion to the country’s GDP – when growth is weak, the debt servicing cost and repayment amount automatically declines; and wh ...
... governments (or ‘sovereigns’) from unexpected poor growth outturns that might otherwise push them into a debt crisis. This is because the return on these bonds varies in proportion to the country’s GDP – when growth is weak, the debt servicing cost and repayment amount automatically declines; and wh ...
The New IS-LM Model: Language, Logic, and Limits
... One initial attempt at updating the IS-LM model was initiated in Sargent and Wallace (1975), who incorporated a version of the aggregate supply theory developed by Lucas (1972, 1973) in place of the Phillips curve or wage/price block. According to this rational expectations IS-LM model, systematic m ...
... One initial attempt at updating the IS-LM model was initiated in Sargent and Wallace (1975), who incorporated a version of the aggregate supply theory developed by Lucas (1972, 1973) in place of the Phillips curve or wage/price block. According to this rational expectations IS-LM model, systematic m ...
2000 - ECB
... Over the reference period from April 1999 to March 2000 Greece achieved a 12-month average rate of HICP inflation of 2.0%, which is below the reference value stipulated by the Treaty. In 1999 as a whole the inflation rate was at the reference value and, since January 2000, Greece has achieved a rate ...
... Over the reference period from April 1999 to March 2000 Greece achieved a 12-month average rate of HICP inflation of 2.0%, which is below the reference value stipulated by the Treaty. In 1999 as a whole the inflation rate was at the reference value and, since January 2000, Greece has achieved a rate ...
FISCAL AND MONETARY POLICY INTERACTIONS: A GAME
... control of the price level and oriented towards the growth and stability of the economy. The institution which is incumbent to execute these objectives is the central bank, and his basic instruments are: • compulsory deposit requirements; • discount window; • open market operations. Compulsory depos ...
... control of the price level and oriented towards the growth and stability of the economy. The institution which is incumbent to execute these objectives is the central bank, and his basic instruments are: • compulsory deposit requirements; • discount window; • open market operations. Compulsory depos ...
Debt and deficit: KPMG Research Report
... Fiscal consolidation to reduce government debt Fiscal consolidation is a policy aimed at reducing government deficits and debt accumulation, and its objective can be achieved through either reducing government spending or increasing government receipts, such as through tax increases, higher user fee ...
... Fiscal consolidation to reduce government debt Fiscal consolidation is a policy aimed at reducing government deficits and debt accumulation, and its objective can be achieved through either reducing government spending or increasing government receipts, such as through tax increases, higher user fee ...
Chapter 6 M F L
... arise more in its capacity as a banker or a trustee rather than a borrower and include employees’ provident funds, reserve funds and sinking funds (created by charging expenditure while actual expenditure/disbursement is yet to be made) and deposits. These borrowings or accruals are not secured unde ...
... arise more in its capacity as a banker or a trustee rather than a borrower and include employees’ provident funds, reserve funds and sinking funds (created by charging expenditure while actual expenditure/disbursement is yet to be made) and deposits. These borrowings or accruals are not secured unde ...
to - The Money Enigma
... of the terms of the implied “Moneyholders’ Agreement” and an analysis of the role of intertemporal equilibrium in the determination of the current market value of money (intertemporal equilibrium analysis is used to create a probability distribution for the expected future benefits of money). • The ...
... of the terms of the implied “Moneyholders’ Agreement” and an analysis of the role of intertemporal equilibrium in the determination of the current market value of money (intertemporal equilibrium analysis is used to create a probability distribution for the expected future benefits of money). • The ...
WHAT KEYNESIAN REVOLUTION
... Pigou-Haberler-Scotivsky) real balance effect only applied to outside money (cash plus non-interest-bearing reserve deposits held by the banks at the central bank), not to inside ...
... Pigou-Haberler-Scotivsky) real balance effect only applied to outside money (cash plus non-interest-bearing reserve deposits held by the banks at the central bank), not to inside ...
APEC Meeting Documents - APEC Meeting Document Database
... and education, and develop a social safety net. As long as the government is able to tax the prospective growth dividend of such expenditure (thus mobilizing resources from the private economy to the fiscal budget), it is possible to afford the cost of servicing debt without experiencing destabilizi ...
... and education, and develop a social safety net. As long as the government is able to tax the prospective growth dividend of such expenditure (thus mobilizing resources from the private economy to the fiscal budget), it is possible to afford the cost of servicing debt without experiencing destabilizi ...
- Strathprints - University of Strathclyde
... (1988), all writing on the development of Keynes’s thinking on the rate of interest, draw no connection to Sraffa. Maclachlan (1993) sees a tenuous link. Lord Skidelsky (1992, p. 458) does hint at the possibility of an important Sraffian influence on Keynes’s thinking. In discussing progress toward ...
... (1988), all writing on the development of Keynes’s thinking on the rate of interest, draw no connection to Sraffa. Maclachlan (1993) sees a tenuous link. Lord Skidelsky (1992, p. 458) does hint at the possibility of an important Sraffian influence on Keynes’s thinking. In discussing progress toward ...
PRIVATE CAPITAL FLOWS AND THE REAL EXCHANGE RATE IN
... with the appreciation of the real exchange rate. However, other case studies do not conclude to a real appreciation of the exchange rate associated with public flows [Bandara (1995) in Sri Lanka; Nyoni (1998) and Li and Rowe (2007) in Tanzania; Aiyar et al., (2007) in Ethiopia, Ghana, Mozambique, Ta ...
... with the appreciation of the real exchange rate. However, other case studies do not conclude to a real appreciation of the exchange rate associated with public flows [Bandara (1995) in Sri Lanka; Nyoni (1998) and Li and Rowe (2007) in Tanzania; Aiyar et al., (2007) in Ethiopia, Ghana, Mozambique, Ta ...
Is Uganda an emerging economy?
... measure of policy induced real effective exchange rate misalignment, and degree of the economy’s exposure to foreign competition), seven variables of economic performance (growth of per capita GDP, the number of years with positive per capita GDP growth during the last ten years, the number of conse ...
... measure of policy induced real effective exchange rate misalignment, and degree of the economy’s exposure to foreign competition), seven variables of economic performance (growth of per capita GDP, the number of years with positive per capita GDP growth during the last ten years, the number of conse ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Fiscal Institutions and Fiscal Performance
... the financial balances of public corporations gives a misleading picture because many of those corporations (especially the nine public finance corporations and two banks, like the Japan Development Bank) implement capital investment programs under the direct control of the central government, amoun ...
... the financial balances of public corporations gives a misleading picture because many of those corporations (especially the nine public finance corporations and two banks, like the Japan Development Bank) implement capital investment programs under the direct control of the central government, amoun ...
Romania`s Balance of Payments and International Investment
... ranging from 3.3 percent to 4.2 percent. In 2013, average annual inflation rate fell in the non-euro area countries to 1.9 percent, from 3 percent in 2012, due largely to decreases in commodity prices and indirect taxes. Inflation rates above 2 percent were recorded in Romania (3.2 percent), the Uni ...
... ranging from 3.3 percent to 4.2 percent. In 2013, average annual inflation rate fell in the non-euro area countries to 1.9 percent, from 3 percent in 2012, due largely to decreases in commodity prices and indirect taxes. Inflation rates above 2 percent were recorded in Romania (3.2 percent), the Uni ...
Managing Fiscal Risks
... The stream of expected service payments for PPPs and calls on guarantees should be incorporated in medium-to-long term debt sustainability analyses, with appropriate sensitivity tests ...
... The stream of expected service payments for PPPs and calls on guarantees should be incorporated in medium-to-long term debt sustainability analyses, with appropriate sensitivity tests ...
Fiscal Stimulus and the Promise of Future Spending Cuts
... spending reversals in calibrated structural macroeconomic models. Clearly, these findings could have important normative implications for the design of discretionary fiscal policies. The model they use in the article appearing in this journal is a two-country business-cycle model. It features significa ...
... spending reversals in calibrated structural macroeconomic models. Clearly, these findings could have important normative implications for the design of discretionary fiscal policies. The model they use in the article appearing in this journal is a two-country business-cycle model. It features significa ...
Monetary Institutions, Partisanship, and Inflation Targeting Bumba
... target serve as a visible signal of the central bank’s monetary policy goals. The public at large is acutely aware of changes in the price level; individual consumers may not have the capacity to ascertain day-to-day changes in the price indexes used by central banks, but they certainly do feel the ...
... target serve as a visible signal of the central bank’s monetary policy goals. The public at large is acutely aware of changes in the price level; individual consumers may not have the capacity to ascertain day-to-day changes in the price indexes used by central banks, but they certainly do feel the ...
Germany´s Federal Debt Brake
... and executing the budget To ensure that public finances are sustainable, it is not enough for budget rules simply to restrict net borrowing when the budget is drawn up – which was the case under the old version of Article 115 of the Basic Law. Therefore, to ensure that the Federation’s debt brake pr ...
... and executing the budget To ensure that public finances are sustainable, it is not enough for budget rules simply to restrict net borrowing when the budget is drawn up – which was the case under the old version of Article 115 of the Basic Law. Therefore, to ensure that the Federation’s debt brake pr ...
Chapter one: Introduction to Macroeconomics 1) Which of the
... 15) If Congress increases government spending, it is using A) monetary policy. B) supply-side policy. C) fiscal policy. D) incomes policy. 16)If Tomas purchases a share of stock for $150 and one year later sells it for $225, he will realize a A) dividend of $75. B) capital gain of $75. C) dividend o ...
... 15) If Congress increases government spending, it is using A) monetary policy. B) supply-side policy. C) fiscal policy. D) incomes policy. 16)If Tomas purchases a share of stock for $150 and one year later sells it for $225, he will realize a A) dividend of $75. B) capital gain of $75. C) dividend o ...
Lebanon`s Public Debt
... High indebtedness has been plaguing the Lebanese economy over the past two decades or so, as the government has been caught in a vicious cycle of a hefty public debt burden and recurrent budget deficits. This has thwarted the economic growth, escalated the debt crisis, and positioned Lebanon among n ...
... High indebtedness has been plaguing the Lebanese economy over the past two decades or so, as the government has been caught in a vicious cycle of a hefty public debt burden and recurrent budget deficits. This has thwarted the economic growth, escalated the debt crisis, and positioned Lebanon among n ...
SME Banking 2012 Brochure
... Figure 7: SME business confidence back up in Hong Kong and across Asia Figure 8: Average operating incomes and profits for credit products Figure 9: Share of firms with loan/line of credit from financial institutions Figure 10: Size and prospects of the SME market Figure 11: Size and prospects of th ...
... Figure 7: SME business confidence back up in Hong Kong and across Asia Figure 8: Average operating incomes and profits for credit products Figure 9: Share of firms with loan/line of credit from financial institutions Figure 10: Size and prospects of the SME market Figure 11: Size and prospects of th ...