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Fiscal Discourse And Fiscal Policy
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Book Synopsis Fiscal Discourse and Fiscal Policy by : Yongquan Cao
Download or read book Fiscal Discourse and Fiscal Policy written by Yongquan Cao and published by International Monetary Fund. This book was released on 2024-09-16 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the supply of fiscal ideas leveraging thousands of electoral platforms from 65 countries in the Manifesto Project to link how political parties discuss fiscal policy with fiscal outcomes. We provide three sets of results. First, fiscal discourse has become increasingly favourable to higher government spending since at least the 1990s in advanced and emerging economies and across the political spectrum. This pattern does not track survey trends in voter preferences, suggesting that parties have played a role in shifting the focus of political campaigns to fiscal issues to win over voters. Second, fiscal discourse turns conservative under more adverse fiscal conditions, including in the aftermath of debt surges and after the adoption of fiscal rules, but only to a limited extent. Third, over the medium-run, relative discourse changes in favor of government expansion and away from fiscal restraint are followed by higher fiscal deficits. Together, our results suggest that adverse shifts in the supply of fiscal ideas could add to fiscal pressures over time.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498344658 Total Pages :257 pages Book Rating :4.4/5 (983 download)
Book Synopsis Fiscal Policy and Long-Term Growth by : International Monetary Fund
Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Book Synopsis The Effectiveness of Fiscal Policy in Stimulating Economic Activity by : Richard Hemming
Download or read book The Effectiveness of Fiscal Policy in Stimulating Economic Activity written by Richard Hemming and published by International Monetary Fund. This book was released on 2002-12 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Book Synopsis We are Better Than this by : Edward D. Kleinbard
Download or read book We are Better Than this written by Edward D. Kleinbard and published by Oxford University Press, USA. This book was released on 2015 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A book which examines how government - which is to say, all of us, acting collectively - can make our country healthier, wealthier and happier, if we put government to useful work in those areas where it most productively complements our private markets"--Provided by publisher.
Book Synopsis The Deficit Myth by : Stephanie Kelton
Download or read book The Deficit Myth written by Stephanie Kelton and published by PublicAffairs. This book was released on 2020-06-09 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.
Book Synopsis Discourse Analysis and Austerity by : Kate Power
Download or read book Discourse Analysis and Austerity written by Kate Power and published by Routledge. This book was released on 2019-03-04 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the immediate aftermath of the global financial crisis of 2008, governments around the developed world coordinated policy moves to stimulate economic activity and avert a depression. In subsequent years, however, cuts to public expenditure, or austerity, have become the dominant narrative in public debate on economic policy. This unique collaboration between economists and linguists examines manifestations of the discourses of austerity as these have played out in media, policy and academic settings across Europe and the Americas. Adopting a critical perspective, it seeks to elucidate the discursive and argumentation strategies used to consolidate austerity as the dominant economic policy narrative of the twenty-first century.
Book Synopsis Stuck in the Middle by : Antonio Estache
Download or read book Stuck in the Middle written by Antonio Estache and published by Rowman & Littlefield. This book was released on 2009-10-01 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stuck in the Middle examines both economic and social public policy initiatives in its assertion that enhancing the welfare of people in developed and developing nations requires an explicit focus on the middle class. Contents Foreword 1. Overview: Fiscal Policy, Distribution, and the Middle Class 2. Stylized Facts on the Middle Class and the Development Process 3. The Future of Global Income Inequality 4. The Scope and Limits of Subsidies 5. Policies for Lower Global Wealth Inequality 6. Can Happiness Research Help Fiscal Policy? 7. The Politics of Effective and Sustainable Redistribution
Book Synopsis Interest and Prices by : Michael Woodford
Download or read book Interest and Prices written by Michael Woodford and published by Princeton University Press. This book was released on 2011-12-12 with total page 805 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate. The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises. It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking.
Book Synopsis Monetary Vs. Fiscal Policy by : Milton Friedman
Download or read book Monetary Vs. Fiscal Policy written by Milton Friedman and published by W. W. Norton. This book was released on 1969 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Do Deficits Matter? by : Daniel Shaviro
Download or read book Do Deficits Matter? written by Daniel Shaviro and published by University of Chicago Press. This book was released on 1997-05 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do deficits matter? Yes and no, says Daniel Shaviro in this political and economic study. Yes, because fiscal policy affects generational distribution, national saving, and the level of government spending. And no, because the deficit is an inaccurate measure with little economic content. This book provides an invaluable guide for anyone wanting to know exactly what is at stake for Americans in this ongoing debate. "[An] excellent, comprehensive, and illuminating book. Its analysis, deftly integrating considerations of economics, law, politics, and philosophy, brings the issues of 'balanced budgets,' national saving, and intergenerational equity out of the area of religious crusades and into an arena of reason. . . . A magnificent, judicious, and balanced treatment. It should be read and studied not just by specialists in fiscal policy but by all those in the economic and political community."—Robert Eisner, Journal of Economic Literature "Shaviro's history, economics, and political analysis are right on the mark. For all readers."—Library Journal
Book Synopsis Expansionary Austerity New International Evidence by : Mr.Daniel Leigh
Download or read book Expansionary Austerity New International Evidence written by Mr.Daniel Leigh and published by International Monetary Fund. This book was released on 2011-07-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.
Book Synopsis The IMF and the Politics of Austerity in the Wake of the Global Financial Crisis by : Ben Clift
Download or read book The IMF and the Politics of Austerity in the Wake of the Global Financial Crisis written by Ben Clift and published by Oxford University Press. This book was released on 2018 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the IMF's role as arbiter of legitimate economic policy since the 2008 crash, and during aftershocks of the Eurozone crisis.
Book Synopsis Monetary Policy and Interest Rates by : Riccardo Rovelli
Download or read book Monetary Policy and Interest Rates written by Riccardo Rovelli and published by Palgrave Macmillan. This book was released on 1998-09-14 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative examination for top international policymakers and academics conducting monetary policy arising from a conference organised by the Banca d'Italia. The yield curve - the relation among market interest rates of different maturities - is a key benchmark for evaluating investment strategies in the global financial market. To a growing extent, central banks use it to evaluate, explain to the public and monitor the results of policy decisions.
Book Synopsis The Discourse of Financial Crisis and Austerity by : Darren Kelsey
Download or read book The Discourse of Financial Crisis and Austerity written by Darren Kelsey and published by Routledge. This book was released on 2018-12-07 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book demonstrates the importance of understanding how political rhetoric, financial reporting and media coverage of austerity in transnational contexts is significant to the communicative, social and economic environments in which we live. It considers how aspects of moral storytelling, language, representation and ideology operate through societies in financial crisis and through governments that impose austerity programmes on public spending. Whilst many of the debates covered here are concerned with UK economic policy and British social contexts, the contributions also consider examples from other countries that reflect similar concerns on the ideological operations of austerity and financial discourse. The multiple discursive contexts of austerity demonstrate the breadth of social concerns and conflicts that have developed in societies and institutions following the global economic crisis of 2008. Through its interdisciplinary focus on this topic, this book provides an important contribution across multiple subject areas, with shared interests in critical and analytical approaches to discourse, power and language in social contexts reflecting the healthy collaborative scope of critical discourse studies as a field of research. This book was originally published as a special issue of Critical Discourse Studies.
Book Synopsis Handbook of Fiscal Federalism by : E. Ahmad
Download or read book Handbook of Fiscal Federalism written by E. Ahmad and published by Edward Elgar Publishing. This book was released on 2006 with total page 585 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides comprehensive coverage of fiscal federalism by some of the leading scholars in the field. . . This Handbook is an excellent addition to the present discourse on the role of the state in fiscal matters. This reviewer would recommend this book as a required text for a graduate or senior class on public finance or economic development. Researchers in economic development, public finance, and fiscal policy likewise would find this volume useful. Highly recommended. Upper-division undergraduate through professional collections. J. Raman, Choice This major Handbook addresses fiscal relations between different levels of government under the general rubric of fiscal federalism , providing a review of the latest literature as well as an invaluable guide for practitioners and policy makers seeking informed policy options. The contributors include leading lights in the field, many of whom have themselves made seminal contributions to the literature. Comprehensive and wide in coverage, the issues covered range from federal systems to other forms of intergovernmental relations, such as supra-national constructs namely, the European Union unitary states, regional systems, and more decentralized operations, including community level organizations. The political economy approach emphasizes the importance of institutional arrangements, including the legal, political and administrative aspects, and information flows to ensure that there are appropriate incentives and sanctions to generate good governance. This Handbook also devotes attention to emerging issues, such as environmental protection, the sharing of natural resources among levels of government, corruption and the impact of federalism and decentralization on national unity. It will be a vital reference tool for the area for many years to come.
Book Synopsis Fountain of Fortune by : Richard von Glahn
Download or read book Fountain of Fortune written by Richard von Glahn and published by Univ of California Press. This book was released on 2023-07-28 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most striking feature of Wutong, the preeminent God of Wealth in late imperial China, was the deity’s diabolical character. Wutong was perceived not as a heroic figure or paragon but rather as an embodiment of greed and lust, a maleficent demon who preyed on the weak and vulnerable. In The Sinister Way, Richard von Glahn examines the emergence and evolution of the Wutong cult within the larger framework of the historical development of Chinese popular or vernacular religion—as opposed to institutional religions such as Buddhism or Daoism. Von Glahn’s study, spanning three millennia, gives due recognition to the morally ambivalent and demonic aspects of divine power within the common Chinese religious culture. Surveying Chinese religion from 1000 BCE to the beginning of the twentieth century, The Sinister Way views the Wutong cult as by no means an aberration. In Von Glahn’s work we see how, from earliest times, the Chinese imagined an enchanted world populated by fiendish fairies and goblins, ancient stones and trees that spring suddenly to life, ghosts of the unshriven dead, and the blood-eating spirits of the mountains and forests. From earliest times, too, we find in Chinese religious culture an abiding tension between two fundamental orientations: on one hand, belief in the power of sacrifice and exorcism to win blessings and avert calamity through direct appeal to a multitude of gods; on the other, faith in an all-encompassing moral equilibrium inhering in the cosmos.
Book Synopsis The Liquidation of Government Debt by : Ms.Carmen Reinhart
Download or read book The Liquidation of Government Debt written by Ms.Carmen Reinhart and published by International Monetary Fund. This book was released on 2015-01-21 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
