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Author : Paolo Arturo Pesenti
Publisher :
ISBN 13 :
Total Pages : 220 pages
Book Rating : 4.:/5 (753 download)
Download or read book Essays in Macroeconomic Policy for Stabilization and Growth written by Paolo Arturo Pesenti and published by . This book was released on 1991 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Miranda S. Goeltom
Publisher : Gramedia Pustaka Utama
ISBN 13 : 9789792233391
Total Pages : 624 pages
Book Rating : 4.2/5 (333 download)
Download or read book Essays in Macroeconomic Policy written by Miranda S. Goeltom and published by Gramedia Pustaka Utama. This book was released on 2007 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mario Damill
Publisher : Columbia University Press
ISBN 13 : 023154121X
Total Pages : 405 pages
Book Rating : 4.2/5 (315 download)
Download or read book Macroeconomics and Development written by Mario Damill and published by Columbia University Press. This book was released on 2016-03-15 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: Latin American neo-structuralism is a cutting-edge, regionally focused economic theory with broad implications for macroeconomics and development economics. Roberto Frenkel has spent five decades developing the theory's core arguments and expanding their application throughout the discipline, revolutionizing our understanding of high inflation and hyperinflation, disinflation programs, and the behavior of foreign exchange markets as well as financial and currency crises in emerging economies. The essays in this collection assess Latin American neo-structuralism's theoretical contributions and viability as the world's economies evolve. The authors discuss Frenkel's work in relation to pricing decisions, inflation and stabilization policy, development and income distribution in Latin America, and macroeconomic policy for economic growth. An entire section focuses on finance and crisis, and the volume concludes with a neo-structuralist analysis of general aspects of economic development. For those seeking a comprehensive introduction to contemporary Latin American economic thought, this collection not only explicates the intricate work of one of its greatest practitioners but also demonstrates its impact on the growth of economics.
Author : Mahesh Surendran
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (498 download)
Download or read book International Investment, Economic Growth, and Stabilization Policy written by Mahesh Surendran and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Hassan Bougrine
Publisher : Edward Elgar Publishing
ISBN 13 : 1786439573
Total Pages : 360 pages
Book Rating : 4.7/5 (864 download)
Download or read book Economic Growth and Macroeconomic Stabilization Policies in Post-Keynesian Economics written by Hassan Bougrine and published by Edward Elgar Publishing. This book was released on 2020-07-31 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hassan Bougrine, Louis-Philippe Rochon and the expert contributors to this book explore issues of economic growth and full employment; presenting a clear explanation to stagnation, recessions and crises, including the latest Global Financial Crisis of 2007-8. With a central focus on the role played by government spending, deficits and debt as well as the setting of interest rates, the chapters propose alternative policies that can be used by central banks and fiscal authorities to deal with problems of income inequality, unemployment and slow productivity.
Author : Harry Johnson
Publisher : Routledge
ISBN 13 : 1134623569
Total Pages : 341 pages
Book Rating : 4.1/5 (346 download)
Download or read book Essays in Monetary Economics (Collected Works of Harry Johnson) written by Harry Johnson and published by Routledge. This book was released on 2013-07-18 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reprinting the second edition (which included a new introduction explaining developments which had emerged since first publication) this book discusses explorations in the fundamental theory of a monetary economy, a theoretical critique of the ‘Phillips Curve’ approach to the theory of inflation and the theory of the term structure of interest rates in terms of the theory of forward markets pioneered by David Meiselman.
Author : Richard Abel Musgrave
Publisher :
ISBN 13 :
Total Pages : 392 pages
Book Rating : 4.3/5 (91 download)
Download or read book Public Finance and Stabilization Policy written by Richard Abel Musgrave and published by . This book was released on 1974 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ufuk Devrim Demirel
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (123 download)
Download or read book Essays on Macroeconomic Policies and Stabilization written by Ufuk Devrim Demirel and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Navarat Temsumrit
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (114 download)
Download or read book Three Essays on Macroeconomic Policy, Development Economics and Economic Growth written by Navarat Temsumrit and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In order to fulfil the requirements for the degree of Doctor of Philosophy in Economics and Finance, at the University of St. Gallen, after the completion of the course-work and research phases, I hereby to provide the cumulative dissertation. The dissertation consists of three essays on macroeconomic policy, development economics and economic growth. The first chapter examines empirically the relationship between the cyclical pattern of fiscal policy in democratic developing countries and their quality of political institutions. This chapter uses updated data to analyse 63 developing countries from 1980 to 2013 and robustly shows that pro-cyclical fiscal policy exist in both democratic and non-democratic developing countries. The main contributions of this chapter are controlling the endogeneity issue by using the instrumental variable method and investigating the interactions between political institutions variables and the cyclicality of fiscal policy. The results suggest that an improvement in the level of institutional quality plays an important role to restrain pro-cyclical fiscal policy. These effects are larger in democratic countries than non-democratic ones. Additionally, the maturity and stability of a democratic regime influence in restraining the implementation of pro-cyclical fiscal policy. The second chapter studies the effects of demographic transition and unfunded pension system in affecting the economic growth of Thailand. The chapter adds the aspect of the informal sector and investments in children's education into the Overlapping Generation (OLG) model. We modify the model to allow individuals heterogeneity in their ages and exogenously assign to work either in the formal or informal sector. The results from our model suggest that the non-contribution pension system or old-age security schemes hinder the economic growth of the economy with a high share of the informal sector and low fertility rate like Tha.
Author : Mark Lionel Gertler
Publisher :
ISBN 13 :
Total Pages : 572 pages
Book Rating : 4.F/5 ( download)
Download or read book Essays on Macroeconomic Methodology and Policy written by Mark Lionel Gertler and published by . This book was released on 1978 with total page 572 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : The late Lawrence R. Klein
Publisher : Edward Elgar Publishing
ISBN 13 : 9781781950500
Total Pages : 434 pages
Book Rating : 4.9/5 (55 download)
Download or read book Long-run Growth and Short-run Stabilization written by The late Lawrence R. Klein and published by Edward Elgar Publishing. This book was released on 2006-02-24 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is much confusion in the economics literature on wage determination and the employment-inflation trade-off. Few model builders pay as much careful attention to the definition and meaning of long-run concepts as did Albert Ando. Expanding on years of painstaking work by Ando, the contributors elaborate on the main issues of economic analysis and policies that concerned him.
Author : Assar Lindbeck
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 360 pages
Book Rating : 4.F/5 ( download)
Download or read book The Selected Essays of Assar Lindbeck: Macroeconomics and economic policy written by Assar Lindbeck and published by Edward Elgar Publishing. This book was released on 1993 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first volume in a two-volume set on macroeconomics, economic policy and the welfare state. This volume covers the development of the author's thought, illustrating how his experience of economic policy-making in Sweden has led him to form his current opinions.
Author : Sailesh Kumar Jha
Publisher :
ISBN 13 :
Total Pages : 318 pages
Book Rating : 4.:/5 (391 download)
Download or read book Three Essays on Macroeconomic Policy and Endogenous Growth written by Sailesh Kumar Jha and published by . This book was released on 1997 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Harry Gordon Johnson
Publisher :
ISBN 13 :
Total Pages : 360 pages
Book Rating : 4.X/5 ( download)
Download or read book Essays in Monetary Economics written by Harry Gordon Johnson and published by . This book was released on 1969 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pablo Garcia Sanchez
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (15 download)
Download or read book Essays on Macroeconomics and Financial Stability written by Pablo Garcia Sanchez and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2008 crisis and the ensuing Great Recession shook the consensus on how to run economic policy. They reminded us that financial imbalances could significantly derail economic activity. In addition, they showed that existing policy tools did not guarantee macro-financial stability; thereby leading to a rethink of monetary policy and financial regulation. Such a reevaluation has prompted a call for macroprudential tools, i.e., those tools intended for limiting systemic risk and ensuring the resilience of the financial sector. Besides, it has raised new questions about monetary policy and its effects on the risk taking behavior of economic agents - the so-called risk taking channel. A decade from the beginning of the crisis, the contours of a new policy framework for economic and financial stability are still very unclear. Knowledge on which regulatory instruments and how to employ them to curb the buildup of imbalances is limited. Neither is much known about the costs of those instruments.Regulatory intervention constraints some behaviors and distorts the allocation of resources. Consequently, the risk of imposing insidious costs on economic growth must not be underestimated. Likewise, very little is known about the relationship between monetary policy and the perception and pricing of risk by market participants. Nonetheless, it is natural to think that the monetary policy stance may affect the risk taking behavior of economic units, by influencing the attitudes towards risk and the assessment of risks. If so, failure by monetary authorities to consider this phenomenon could exacerbate boom bust patterns. The aim of this thesis is to explore the path towards macroeconomic and financial stability. I have basedmy work on the modern dynamic macroeconomic methods and techniques. Specifically, the first essay develops a canonical real business cycle model to assess the macroeconomic consequences of bank capital requirements, arguably the most used prudential tool. The second essay zooms in on the banking sector, and proposes a structural dynamic model with a large number of heterogeneous banks. The model is employed to study the effectiveness of interbank exposure limits. Having analyzed regulatory intervention, the last essay uses time series econometrics to shed some light on the risk taking channel of monetary policy. It is my firm belief that macroeconomics models for financial stability analysis should consider nonlinear patterns such as state dependence, asymmetries and amplification effects. Under unusual conditions like financial booms or credit crunches, economic agents behave differently than during normal times. In other words, the inner workings of the macroeconomy become essentially nonlinear under abnormal circumstances. Therefore, local behavior around the long run equilibrium of the economy is unlikely to contain relevant information about what may happen in exceptional events. In consequence, I study macroeconomic policy exclusively through the lens of nonlinear frameworks and techniques. Regarding the main results, this thesis makes a strong case in favor of macroprudential regulation. I provide clear evidence suggesting that regulatory intervention can be a powerful tool to strengthen financial resilience, reduce economic volatility and smooth business cycles. In addition, this thesis shows that accommodative monetary policy can produce overconfidence among market participants; thereby increasing risk taking and contributing to the buildup of imbalances. In other words, it provides empirical evidence for the existence of a risk taking channel of monetary policy.
Author : George Horwich
Publisher : Academic Press
ISBN 13 : 1483267482
Total Pages : 577 pages
Book Rating : 4.4/5 (832 download)
Download or read book Trade, Stability, and Macroeconomics written by George Horwich and published by Academic Press. This book was released on 2014-05-10 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade, Stability, and Macroeconomics: Essays in Honor of Lloyd A. Metzler provides information pertinent to the fundamental aspects of trade, stability, and macroeconomics. This book covers a variety of topics, including nontraded and intermediate commodities, prices, production, exchange rates, and wages. Organized into five parts encompassing 22 chapters, this book begins with an overview of the theory of international trade and the effect of a tariff or export tax on domestic prices. This text then defines the supply of the international commodities as a function of their prices and of the output of the domestic commodity. Other chapters consider the Stolper–Samuelson analysis of the effects of protection of the distribution of income. This book discusses as well the theory of external–internal balance or the assignment problem as related to macroeconomic policy in an open economy. The final chapter deals with the dynamic allocation of scarce resources. This book is a valuable resource for economists.
Author : Dejanir Henrique Silva
Publisher :
ISBN 13 :
Total Pages : 191 pages
Book Rating : 4.:/5 (958 download)
Download or read book Essays on Macroeconomics and Risk Premium written by Dejanir Henrique Silva and published by . This book was released on 2016 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: The thesis consists of three essays on how macroeconomic policy can be an important determinant of risk premium and how variations in risk premium may affect macroeconomic policy. Unconventional monetary policy represents a main example of how the transmission of macroeconomic policy is mediated by movements in risk premium. In the first essay, I examine how unconventional monetary policy affects asset prices by reallocating risk in the economy. I consider an environment with heterogeneity in risk tolerance and limited asset market participation. Risk-tolerant investors take leveraged positions, exposing the economy to balance sheet recessions. Limited asset market participation implies the balance sheet of the central bank is non-neutral. Unconventional monetary policy reduces the risk premium and endogenous volatility. During balance sheet recessions, asset purchases boost investment and growth. In contrast, during normal times, the expectation of future interventions reduces growth. Leveraged institutions respond to the policy by reducing risk-taking relatively more than risk-averse investors. As risk concentration falls, the probability of negative tail-events is reduced, enhancing financial stability. An important determinant of entrepreneurial activity in developing countries is the amount of risk the entrepreneur must bear. The second essay, joint with Robert M. Townsend, analyzes the risk-taking behavior of entrepreneurs. Using data from a survey conducted in villages in Thailand, we document substantial heterogeneity in entrepreneurial activity. The fraction of net worth invested by entrepreneurs in risky activities decreases over the life cycle. Consumption-to-wealth ratio is U-shaped, being high for young and old entrepreneurs. We propose a model that captures both the life cycle patterns and limited idiosyncratic insurance observed in the Thai data. An expansion in idiosyncratic insurance will reduce the idiosyncratic risk premium, increasing the proportion of wealth invested in risky activities and aggregate output. However, as the return on the project falls, entrepreneurs accumulate less wealth, reducing their welfare in the long-run. The third essay studies the optimal response of fiscal policy to a risk premium shock when a country is in a currency union. In the context of an open economy New Keynesian model, I show that the government should not deviate from the optimal provision of public goods at an attempt to stabilize the economy. A consumption tax is used to lean against the wind and reduce the real interest rate in the presence of a positive risk premium shock. A VAT tax allows the government to independently influence the terms of trade. Optimal fiscal policy has the property of being revenue-generating. Therefore, there is not necessarily a trade off between stabilization policy and fiscal consolidation.
