Regional markets outperform on expectations for further ECB easing
... to a new 7 ½ year low of 5.0% in the unemployment rate. The FOMC October 27/28 meeting minutes did little to alter expectations for an FOMC rate hike at the next policy meeting on December 15-16, with the majority of policy members assessing that downside risks from the world economy and global fina ...
... to a new 7 ½ year low of 5.0% in the unemployment rate. The FOMC October 27/28 meeting minutes did little to alter expectations for an FOMC rate hike at the next policy meeting on December 15-16, with the majority of policy members assessing that downside risks from the world economy and global fina ...
PDF - Council on Foreign Relations
... Over the past few years, the nature of the policy challenge posed by East Asia’s external surplus has changed. The region’s surpluses are no longer maintained primarily through intervention in the foreign exchange market, with the result that moving toward floating currencies is no longer a sufficie ...
... Over the past few years, the nature of the policy challenge posed by East Asia’s external surplus has changed. The region’s surpluses are no longer maintained primarily through intervention in the foreign exchange market, with the result that moving toward floating currencies is no longer a sufficie ...
adjusted growth strategy: japan - Ministry of Foreign Affairs of Japan
... central government amounted to 96.3 trillion yen. This budget aimed at achieving both economic revitalization and fiscal consolidation. Specifically, it put special emphasis on vitalizing local economies, where the benefits of Abenomics were not necessarily spread out. The budget also focuses on the ...
... central government amounted to 96.3 trillion yen. This budget aimed at achieving both economic revitalization and fiscal consolidation. Specifically, it put special emphasis on vitalizing local economies, where the benefits of Abenomics were not necessarily spread out. The budget also focuses on the ...
The future of the euro
... overall increase in intra-EMU trade volume of €600 billion since 1999. The rest is likely to have come from the further development of the EU’s single market, more intense globalisation, and strong growth in the wake of the EU’s enlargement to Eastern Europe. Intra-EMU trade increased in particular ...
... overall increase in intra-EMU trade volume of €600 billion since 1999. The rest is likely to have come from the further development of the EU’s single market, more intense globalisation, and strong growth in the wake of the EU’s enlargement to Eastern Europe. Intra-EMU trade increased in particular ...
FRBSF E L CONOMIC ETTER
... When domestic firms increase their investment, they seek to borrow to finance it. If the increase in desired borrowing could be supplied from domestic saving, then the current account would be unchanged. However, domestic saving itself is likely to be depressed by the labor productivity acceleration ...
... When domestic firms increase their investment, they seek to borrow to finance it. If the increase in desired borrowing could be supplied from domestic saving, then the current account would be unchanged. However, domestic saving itself is likely to be depressed by the labor productivity acceleration ...
DISCUSSION PAPER NO 1 TEXTO PARA DISCUSSÃO NO 1
... (Minsky 1986, 1989). One can add to this analysis Godley’s three balances approach, which explores the interlinkages between the government sector, the private sector, and the external sector. This means that a surplus must be matched by an equal deficit and flows accumulate to stocks. In this regar ...
... (Minsky 1986, 1989). One can add to this analysis Godley’s three balances approach, which explores the interlinkages between the government sector, the private sector, and the external sector. This means that a surplus must be matched by an equal deficit and flows accumulate to stocks. In this regar ...
5 Comparison with the Previous Convergence Programme and
... In accordance with the Stability and Growth Pact set out in Council Regulation (EC) 1466/97, the Czech Republic hereby submits the Convergence Programme for the period of 2006 to 2008. This document has been compiled as a part of the multilateral surveillance procedure set out in Article 99 of the T ...
... In accordance with the Stability and Growth Pact set out in Council Regulation (EC) 1466/97, the Czech Republic hereby submits the Convergence Programme for the period of 2006 to 2008. This document has been compiled as a part of the multilateral surveillance procedure set out in Article 99 of the T ...
Political and Institutional Determinants of Tax-Exempt Bond Yields
... While our dependent variable is the default risk of a state—which we measure using the spread of a synthetic 12 one, five, and ten year bond issued by each state, as reported by Bloomberg, we also employ controls for general economic conditions within the states, so as to distinguish the effects of ...
... While our dependent variable is the default risk of a state—which we measure using the spread of a synthetic 12 one, five, and ten year bond issued by each state, as reported by Bloomberg, we also employ controls for general economic conditions within the states, so as to distinguish the effects of ...
Real GDP
... The Problem with GDP If a country’s GDP increased from $4 Billion to $5 Billion in one year, is the country experiencing economic growth? Did the country definitely produce 25% more ...
... The Problem with GDP If a country’s GDP increased from $4 Billion to $5 Billion in one year, is the country experiencing economic growth? Did the country definitely produce 25% more ...
Real GDP
... The Problem with GDP If a country’s GDP increased from $4 Billion to $5 Billion in one year, is the country experiencing economic growth? Did the country definitely produce 25% more ...
... The Problem with GDP If a country’s GDP increased from $4 Billion to $5 Billion in one year, is the country experiencing economic growth? Did the country definitely produce 25% more ...
2. Economic developments and challenges
... Real GDP is forecast to rise by 1.1% in 2013. Economic activity is set to get no support from sluggish public investment, due to fiscal consolidation needs and completion of EU cofinanced projects in previous years. Uncertain demand prospects and weak global sentiment are expected to impede private ...
... Real GDP is forecast to rise by 1.1% in 2013. Economic activity is set to get no support from sluggish public investment, due to fiscal consolidation needs and completion of EU cofinanced projects in previous years. Uncertain demand prospects and weak global sentiment are expected to impede private ...
mmi13 Caporale 19073238 en
... The present paper aims to contribute to this literature by assessing the short- to mediumterm effects of government debt accumulation on long-term interest rates in the case of euro area member states during the EMU period. It differs from previous studies in three ways. First, it adopts a dynamic m ...
... The present paper aims to contribute to this literature by assessing the short- to mediumterm effects of government debt accumulation on long-term interest rates in the case of euro area member states during the EMU period. It differs from previous studies in three ways. First, it adopts a dynamic m ...
Outlook - KMG Private Wealth Management
... are high as those on Capitol Hill seek to mitigate the budget bombshell of tax increases and spending cuts, known as the fiscal cliff, due to hit in January 2013. The two parties have very different visions of what a deal should look like. Failure to reach a compromise in the coming months could lea ...
... are high as those on Capitol Hill seek to mitigate the budget bombshell of tax increases and spending cuts, known as the fiscal cliff, due to hit in January 2013. The two parties have very different visions of what a deal should look like. Failure to reach a compromise in the coming months could lea ...
chapter summary
... than tax revenue, creating budget deficits that stimulated aggregate demand. These huge deficits discouraged additional discretionary fiscal policy, but success in erasing deficits in the late 1990s spawned renewed interest in discretionary fiscal policy, as reflected by President Bush’s tax cuts in ...
... than tax revenue, creating budget deficits that stimulated aggregate demand. These huge deficits discouraged additional discretionary fiscal policy, but success in erasing deficits in the late 1990s spawned renewed interest in discretionary fiscal policy, as reflected by President Bush’s tax cuts in ...
Invest, devolve, liberate
... performance of the economy since the vote has been mostly steady, rosy even. 1 The short-term falls in the stock market have been reversed, while the housing market is stable if slowing, so far. Consumer confidence has been robust and retail sales healthy.2 Business investment, against expectations, ...
... performance of the economy since the vote has been mostly steady, rosy even. 1 The short-term falls in the stock market have been reversed, while the housing market is stable if slowing, so far. Consumer confidence has been robust and retail sales healthy.2 Business investment, against expectations, ...
The European Monetary Fund
... – until 2007 - rising deficit of the rest of the world (vis-à-vis Germany) facilitated fiscal consolidation in Germany (figure 2). The opposite was the case in most other euro countries due to their current account deficit rising significantly between 2003 and 2008.Figure 2 also shows that the non-f ...
... – until 2007 - rising deficit of the rest of the world (vis-à-vis Germany) facilitated fiscal consolidation in Germany (figure 2). The opposite was the case in most other euro countries due to their current account deficit rising significantly between 2003 and 2008.Figure 2 also shows that the non-f ...
Defying Gravity: Can Japanese sovereign debt continue to increase
... of Japan. Many international financial institutions, credit rating agencies, and private-sector analysts agree over this assessment. Yet, the JGB interest rate has been low and stable. The 10-year JGB rate has been below 2% since 1999, and between 0.8% and 1.5% in the last few years. The rate is muc ...
... of Japan. Many international financial institutions, credit rating agencies, and private-sector analysts agree over this assessment. Yet, the JGB interest rate has been low and stable. The 10-year JGB rate has been below 2% since 1999, and between 0.8% and 1.5% in the last few years. The rate is muc ...
Fiscal Consolidation Strategy
... share of GDP. Because the U.S. federal budget was close to balance before the crisis, (the federal deficit was only 1.3 percent of gdp in 2007) this strategy would mitigate the size of any tax rate increase. Hence, relative to the current policy baseline, long-run tax rates would be lower under this ...
... share of GDP. Because the U.S. federal budget was close to balance before the crisis, (the federal deficit was only 1.3 percent of gdp in 2007) this strategy would mitigate the size of any tax rate increase. Hence, relative to the current policy baseline, long-run tax rates would be lower under this ...
The Federal Budget and the National Debt
... How Does Debt Financing Influence Future Generations? • The empirical evidence on the impact of the Federal budget deficit is mixed. • Empirical studies have found little, if any, relationship between year-to-year changes in the budget deficit and real interest rates — providing support of the new ...
... How Does Debt Financing Influence Future Generations? • The empirical evidence on the impact of the Federal budget deficit is mixed. • Empirical studies have found little, if any, relationship between year-to-year changes in the budget deficit and real interest rates — providing support of the new ...
O`Sullivan Sheffrin Peres 6e
... only the level of prices, not the level of employment. Proponents of inflation targeting argue that the Fed should have only one primary goal: controlling inflation. Before he took over as chairman of the Federal Reserve in 2006, Ben Bernanke was an advocate for inflation targeting. Bernanke called ...
... only the level of prices, not the level of employment. Proponents of inflation targeting argue that the Fed should have only one primary goal: controlling inflation. Before he took over as chairman of the Federal Reserve in 2006, Ben Bernanke was an advocate for inflation targeting. Bernanke called ...
New Zealand`s Balance of Payments
... • The type of debt (or other liability) used to finance the current account deficit (especially its term). For example, the use of short-term debt increases our exposure to interest rate fluctuations and capital flight. The first of these factors is an especially limiting one for New Zealand, as wa ...
... • The type of debt (or other liability) used to finance the current account deficit (especially its term). For example, the use of short-term debt increases our exposure to interest rate fluctuations and capital flight. The first of these factors is an especially limiting one for New Zealand, as wa ...
The Economic Implications of the Long-Term Federal Budget Outlook Marc Labonte
... outlays (mainly on Medicare and Medicaid) are projected to rise from 5.6% today to as much as 10.3% of GDP in 2035. These increases in spending are not expected to subside after the baby boomers have passed away. Without any corresponding rise in revenues, this spending path would maintain unsustain ...
... outlays (mainly on Medicare and Medicaid) are projected to rise from 5.6% today to as much as 10.3% of GDP in 2035. These increases in spending are not expected to subside after the baby boomers have passed away. Without any corresponding rise in revenues, this spending path would maintain unsustain ...
Adjustment Difficulties and Debt Overhangs in the Eurozone Periphery
... It is only in countries with solid public finances (essentially Germany and some of its neighbours) that public debt remains public debt in the sense in which the term is usually used. What is thus happening in the euro area is the age-old process whereby creditors put pressure upon governments to s ...
... It is only in countries with solid public finances (essentially Germany and some of its neighbours) that public debt remains public debt in the sense in which the term is usually used. What is thus happening in the euro area is the age-old process whereby creditors put pressure upon governments to s ...
Formulating Monetary Policy In The Face of Current Global Challenges Turalay Kenç
... Both stock and flow balances in EMEs are better than those of ACs. ...
... Both stock and flow balances in EMEs are better than those of ACs. ...
The Kingdom of Spain`s Funding Programme for 2016
... Balanced economic growth underpinned by far-reaching structural reforms; joint private and public deleveraging compatible with investment & consumption growth: • More than 42% of employment generated in the Euro Area since 2014 created in Spain; reduction of structural unemployment supports consum ...
... Balanced economic growth underpinned by far-reaching structural reforms; joint private and public deleveraging compatible with investment & consumption growth: • More than 42% of employment generated in the Euro Area since 2014 created in Spain; reduction of structural unemployment supports consum ...