Global Imbalances and Low Interest Rates
... 4. “The problem is a global savings glut, not a US saving shortfall.” [1] • True, foreign net lending to US is determined by conditions among foreign lenders as much as in US. • “Savings glut” misleading: Global saving is not really up. [2] – Rather, global investment is way down. – As in CFG: R in ...
... 4. “The problem is a global savings glut, not a US saving shortfall.” [1] • True, foreign net lending to US is determined by conditions among foreign lenders as much as in US. • “Savings glut” misleading: Global saving is not really up. [2] – Rather, global investment is way down. – As in CFG: R in ...
developments in budget deficit and its financing before and after the
... Referring to the data in table 3, we can see that Romania has recorded a slight increase in the first 3 years (12.4 %; 12.8 %; 13.4 %) of GDP as well as it had in 2009 to reach values two times bigger than those of the previous period (23.6 %; 30.5 %; 34.7 % ). Romania is a developing country, with ...
... Referring to the data in table 3, we can see that Romania has recorded a slight increase in the first 3 years (12.4 %; 12.8 %; 13.4 %) of GDP as well as it had in 2009 to reach values two times bigger than those of the previous period (23.6 %; 30.5 %; 34.7 % ). Romania is a developing country, with ...
Sustainability
... • If we have to pay 200 b.p. more on our foreign liabilities, cost is 2% GDP, even if NFA/GDP = -.25. • That cost will rise as NFA continues to fall. • The much greater extent of international leveraging makes the U.S. (and other economies) more vulnerable to a loss in confidence. • In part that is ...
... • If we have to pay 200 b.p. more on our foreign liabilities, cost is 2% GDP, even if NFA/GDP = -.25. • That cost will rise as NFA continues to fall. • The much greater extent of international leveraging makes the U.S. (and other economies) more vulnerable to a loss in confidence. • In part that is ...
Financial Program 2000
... Reduction of Net Transfers to Provinces - Increase of Transfers to Provinces due to ...
... Reduction of Net Transfers to Provinces - Increase of Transfers to Provinces due to ...
The Myth of Expansionary Austerity
... discussed in the following sections. 3. Interest rates Austerity programs may lead to a reduction of the interest rates via two channels: crowding out and deflation. 3.1. Crowding out. The crowding out thesis maintains that fiscal deficits raise consumption by shifting taxes to future generations. I ...
... discussed in the following sections. 3. Interest rates Austerity programs may lead to a reduction of the interest rates via two channels: crowding out and deflation. 3.1. Crowding out. The crowding out thesis maintains that fiscal deficits raise consumption by shifting taxes to future generations. I ...
viewed here - St. Lucia Chamber of Commerce
... Setting WASCO on a sound financial footing to reduce expenditure on ...
... Setting WASCO on a sound financial footing to reduce expenditure on ...
Simulated Test Question 1 (US and European Economies, 2011) 1
... external demand because it leads to an appreciation in the home currency. In contrast, a monetary expansion leads to a decrease in the interest rate and a depreciation in the currency, causing an improvement in the current account. Therefore, if policy makers are concerned about reducing the current ...
... external demand because it leads to an appreciation in the home currency. In contrast, a monetary expansion leads to a decrease in the interest rate and a depreciation in the currency, causing an improvement in the current account. Therefore, if policy makers are concerned about reducing the current ...
Slide
... (1) Capital mobility is much higher now than in 1960s. (2) The US can no longer necessarily rely on support of foreign central banks, either economically or politically. (3) The theory that China imports a world-class system of finance & corporate governance from the U.S. no longer looks so good. ...
... (1) Capital mobility is much higher now than in 1960s. (2) The US can no longer necessarily rely on support of foreign central banks, either economically or politically. (3) The theory that China imports a world-class system of finance & corporate governance from the U.S. no longer looks so good. ...
Week13-2
... Central Banks had to force the dollar to depreciate – The banks achieved this through selling of dollar reserves and buying back their own currency • Doing this caused a monetary contraction for each ...
... Central Banks had to force the dollar to depreciate – The banks achieved this through selling of dollar reserves and buying back their own currency • Doing this caused a monetary contraction for each ...
What businesses need to know about the US current account deficit
... similar external debt relative to GDP. Since debt is denominated in its own currency, repayment will not be all that difficult for the US. The US has historically earned higher returns on its foreign assets than it has paid to overseas investors. Net interest payments may still be less than 1% of GD ...
... similar external debt relative to GDP. Since debt is denominated in its own currency, repayment will not be all that difficult for the US. The US has historically earned higher returns on its foreign assets than it has paid to overseas investors. Net interest payments may still be less than 1% of GD ...
Eurozone, Greece and catastrophic debt crises
... →Macroeconomic expansion in Northern creditor countries →Anything that increases demand (for ‘Southern’ exports) ...
... →Macroeconomic expansion in Northern creditor countries →Anything that increases demand (for ‘Southern’ exports) ...
Slide
... – The odds of containing the fire would have been far better than later. Frankel, “The Greek debt crisis: The ECB’s three big mistakes,” VoxEU, May 16, 2011. ...
... – The odds of containing the fire would have been far better than later. Frankel, “The Greek debt crisis: The ECB’s three big mistakes,” VoxEU, May 16, 2011. ...
the September Review
... billion this year. This extraordinary swing of almost $400 billion in the Eurozone’s current-account balance did not result from a “competitive devaluation”; the euro has remained strong. So the real reason for the eurozone’s large external surplus today is that internal demand has been so weak that ...
... billion this year. This extraordinary swing of almost $400 billion in the Eurozone’s current-account balance did not result from a “competitive devaluation”; the euro has remained strong. So the real reason for the eurozone’s large external surplus today is that internal demand has been so weak that ...
GLOBAL ECONOMIC PROSPECTS: The Continuing Crisis
... • Ensuring that Greece and (at least some) other European countries can roll over their debt and finance their deficits • The question is: Will it work? • Market response: Risk of default has gone down considerably, but is still significant • Question: Why hasn’t the trillion-dollar rescue done a be ...
... • Ensuring that Greece and (at least some) other European countries can roll over their debt and finance their deficits • The question is: Will it work? • Market response: Risk of default has gone down considerably, but is still significant • Question: Why hasn’t the trillion-dollar rescue done a be ...
Document
... Fiscal tightening appears to be premature in any case in many countries, where private demand has not yet recovered on a self sustaining basis. Could be self –defeating ...
... Fiscal tightening appears to be premature in any case in many countries, where private demand has not yet recovered on a self sustaining basis. Could be self –defeating ...
PDF Download
... reshaping our tax system in the medium term. One of the features of the Latvian social system was poor accessibility and inefficient targeting of social benefits. My government has put in place an emergency safety net, keeping a focus on active labour market programs and reviewing the benefit system ...
... reshaping our tax system in the medium term. One of the features of the Latvian social system was poor accessibility and inefficient targeting of social benefits. My government has put in place an emergency safety net, keeping a focus on active labour market programs and reviewing the benefit system ...
Slide 1
... • Growth in exports (metal prices, capacity utilization) • Some growth in imports as well (inputs, consumption) ...
... • Growth in exports (metal prices, capacity utilization) • Some growth in imports as well (inputs, consumption) ...
OUTLINE
... measured by using an HP filter to generate “the trend GDP” (re Burger & Jimmy)? Should “potential” GDP be defined in terms of available (local and imported) capital and labour resources, inter alia? During global upswings or downswings? Etc. ...
... measured by using an HP filter to generate “the trend GDP” (re Burger & Jimmy)? Should “potential” GDP be defined in terms of available (local and imported) capital and labour resources, inter alia? During global upswings or downswings? Etc. ...
UP Congress Presentation
... The Multiplier Effect is stronger when: Marginal saving rate is lower Import content of the stimulated economic activities is lower (= domestic content higher) ...
... The Multiplier Effect is stronger when: Marginal saving rate is lower Import content of the stimulated economic activities is lower (= domestic content higher) ...
The great policy rotation – refocussing from monetary policy to fiscal
... inequality could help boost nominal GDP growth. Australia – via the Asset Recycling Initiative introduced by former Treasurer Joe Hockey – has shown that infrastructure spending can be boosted by privatising existing state-owned assets and recycling the proceeds into new infrastructure spending. Thi ...
... inequality could help boost nominal GDP growth. Australia – via the Asset Recycling Initiative introduced by former Treasurer Joe Hockey – has shown that infrastructure spending can be boosted by privatising existing state-owned assets and recycling the proceeds into new infrastructure spending. Thi ...
Jamaica_en.pdf
... foreign exchange inflows from multilateral institutions. For example, the weighted average selling rate of the Jamaica dollar moved from J$ 89.6 per US$ 1 at the end of December 2009 to J$ 89.51 per US$ 1 at the end of March 2010, a small appreciation of 0.1%. The central bank’s monetary policy stan ...
... foreign exchange inflows from multilateral institutions. For example, the weighted average selling rate of the Jamaica dollar moved from J$ 89.6 per US$ 1 at the end of December 2009 to J$ 89.51 per US$ 1 at the end of March 2010, a small appreciation of 0.1%. The central bank’s monetary policy stan ...
NE Mortgage Bankers Association
... increases in the U.S. budget deficit, 2) Rising inflation expectations (but not a large factor yet) and 3) Investors reduced the risk perceptions and are pulling money out of treasuries and putting it into equity markets (a good thing) (http://finance.yahoo.com ). Investors will be closely watching ...
... increases in the U.S. budget deficit, 2) Rising inflation expectations (but not a large factor yet) and 3) Investors reduced the risk perceptions and are pulling money out of treasuries and putting it into equity markets (a good thing) (http://finance.yahoo.com ). Investors will be closely watching ...
path to global recovery reaches critical crossroads
... different groups of economies but also within those groups, as different countries entered the crisis with different fundamentals. For the advanced economies, the US is expected to lead the recovery with 3.1 per cent growth, on account of its healthier non-bank position and more effective fiscal sti ...
... different groups of economies but also within those groups, as different countries entered the crisis with different fundamentals. For the advanced economies, the US is expected to lead the recovery with 3.1 per cent growth, on account of its healthier non-bank position and more effective fiscal sti ...
Encouraging entrepreneurs: Slovak story
... • Improved fiscal and debt management – established Debt and Liquidity Management Agency, mid term budgeting, ESA 95 (accrual instead of cash) • Municipal budget reform (share on tax revenues instead of negotiations) • Labor code reform - more flexibility in lay-offs and reduced powers of trade unio ...
... • Improved fiscal and debt management – established Debt and Liquidity Management Agency, mid term budgeting, ESA 95 (accrual instead of cash) • Municipal budget reform (share on tax revenues instead of negotiations) • Labor code reform - more flexibility in lay-offs and reduced powers of trade unio ...