Regulation and Macroeconomic Performance

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Publisher : Springer Science & Business Media
ISBN 13 : 1461313430
Total Pages : 152 pages
Book Rating : 4.4/5 (613 download)

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Book Synopsis Regulation and Macroeconomic Performance by : Brian L. Goff

Download or read book Regulation and Macroeconomic Performance written by Brian L. Goff and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: This project grew out of a recognition that I could fmd no aggregate measure of the amount of regulation beyond crude proxies such as the number of pages in the Federal Register. As I began to address this specific issue. I became much more aware of two things -- the enormity of regulation in the u.s. economy and the relative absence of economic research into the macroeconomic consequences of those regulations. While I would have readily granted the idea that many economist'> knew more about regulation than I did, I would have thought my knowledge of regulation to be at least up to the average economist's. My graduate training in the early to mid 1980s included special attention to the field of "public choice" and related topics, all of which occasionally explored regulatory topics. Moreover. I had at least a passing knowledge of the debates concerning deregulation in the late 1970s and early 1980s. Because of this, my own ignorance of regulation's actual expanse and its aggregate consequences startled me and heightened my interest in expanding empirical research into regulation as a macroeconomic influence. The more I thought about graduate macroeconomics classes and texts, the more that I realized the exclusion of regulation as a macroeconomic topic in spite of its massive scale and far-reaching tentacles.

Macro-economic Regulation

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Publisher : Gower Publishing Company, Limited
ISBN 13 :
Total Pages : 112 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Macro-economic Regulation by : Keshav P. Vishwakarma

Download or read book Macro-economic Regulation written by Keshav P. Vishwakarma and published by Gower Publishing Company, Limited. This book was released on 1974 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Business Regulation and Economic Performance

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Publisher : World Bank Publications
ISBN 13 : 0821381458
Total Pages : 294 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Business Regulation and Economic Performance by : Norman V. Loayza

Download or read book Business Regulation and Economic Performance written by Norman V. Loayza and published by World Bank Publications. This book was released on 2010-01-11 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Schumpeterian process of 'creative destruction' is an essential ingredient of a dynamic economy. In many countries around the world, however, this process is weakened by pervasive regulation of product and factor markets. This book documents the regulatory obstacles faced by firms, particularly in developing countries, and assesses their implications for firm renewal and macroeconomic performance. Combining a variety of methodological approaches--analytical and empirical, micro and macroeconomic, single- and cross-country-- the book provides evidence that streamlining the regulatory framework would have a significant social pay-off, particularly in developing countries that are also burdened by weak governance. The book's chapters trace out analytically and empirically the links between microeconomic policies and distortions, on the one hand, and aggregate performance in terms of productivity, growth and volatility, on the other. The volume adds to a novel but increasingly influential literature that seeks to understand macroeconomic phenomena from a microeconomic perspective, and derive the relevant lessons for development policy. Such literature is still fairly scarce in the case of industrial countries, and virtually in its infancy for developing countries.

The Theory of Macro-economic Regulation and the Current Economic Crisis in the United States

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Publisher :
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis The Theory of Macro-economic Regulation and the Current Economic Crisis in the United States by : Michael J. Piore

Download or read book The Theory of Macro-economic Regulation and the Current Economic Crisis in the United States written by Michael J. Piore and published by . This book was released on 1981 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Macroeconomic Stability and Financial Regulation

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Publisher :
ISBN 13 : 9781907142222
Total Pages : 192 pages
Book Rating : 4.1/5 (422 download)

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Book Synopsis Macroeconomic Stability and Financial Regulation by : Mathias Dewatripont

Download or read book Macroeconomic Stability and Financial Regulation written by Mathias Dewatripont and published by . This book was released on 2011 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: The G20 meeting in London in spring 2009 was a historical moment of global cooperation to deal with the global financial crisis. This book collects essays from leading economists, first presented as an eBook in January 2009, advocating many of the policies that were eventually agreed on, including the headline-grabbing global fiscal stimulus. But it goes further, calling for: Reforms to address global imbalances by a) creating insurance mechanisms for countries that forgo reserve accumulation and stimulate domestic expansion; and b) accelerating the development of financial systems in emerging markets. Macroeconomic policy to meet any threat of deflation promptly, with a zero interest rate policy and quantitative easing, and an inflation target to avoid expectations of deflation. Adjustment of the Basel II capital requirements to mitigate procyclicality. Creation of a centralised clearing counterparty for credit default swap trades. Severing the link between credit rating agencies and issuers and monitoring the former's power. Establishment of a harmonised bankruptcy regime for banks that gives regulators strong powers over bank managers and shareholders before the bank is technically insolvent, especially in the case of cross-border banks. Creation of an International Financial Stability Fund that takes equity positions in the financial institutions of participating countries and monitors their activities. Many of these suggestions are still being debated today.

Macro-economic Regulation; a Control System for Incorporating the Kalman Filter for the Netherlands [by] Keshav P. Vishwakarma

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Publisher :
ISBN 13 :
Total Pages : 91 pages
Book Rating : 4.:/5 (18 download)

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Book Synopsis Macro-economic Regulation; a Control System for Incorporating the Kalman Filter for the Netherlands [by] Keshav P. Vishwakarma by : Keshav P. Vishwakarma

Download or read book Macro-economic Regulation; a Control System for Incorporating the Kalman Filter for the Netherlands [by] Keshav P. Vishwakarma written by Keshav P. Vishwakarma and published by . This book was released on with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Tighter Grip on the Economy Needed

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Publisher : GRIN Verlag
ISBN 13 : 364089569X
Total Pages : 13 pages
Book Rating : 4.6/5 (48 download)

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Book Synopsis Tighter Grip on the Economy Needed by : Christian Uwagwuna

Download or read book Tighter Grip on the Economy Needed written by Christian Uwagwuna and published by GRIN Verlag. This book was released on 2011-04-18 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2010 in the subject Economics - Macro-economics, general, grade: 67, De Montfort University Leicester, course: Contemporary Business Issue, language: English, abstract: The purpose of this paper is to consider the rationale of economic regulation, why regulation has welfare benefits and why consumers of financial services, particularly retail consumers demand regulation of the economy. A poll carried out by the BBC showed that most people want their government to have more control over the running of their economy. However, some academic liberals (Bentson, 1998) are skeptical of the benefits of such regulation. These critics of economic regulation argues variously as follows; that there is no market failures and imperfections, and that if they do exist they are not sufficiently serious to warrant regulation, and that regulation may not practically solve these failures and imperfections, and that if it does, it can only do so by imposing cost that might exceed the cost of the original problem, and that imposing regulation raises serious moral hazards, and finally, that regulation imposes a wide range of cost which is ultimately borne by consumers.

Crisis in Economic Policy

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Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (92 download)

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Book Synopsis Crisis in Economic Policy by : Ludo Cuyvers

Download or read book Crisis in Economic Policy written by Ludo Cuyvers and published by . This book was released on 1987 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Political Control of the Macroeconomy

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Publisher : London ; Beverly Hills : Sage Publications
ISBN 13 :
Total Pages : 232 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Political Control of the Macroeconomy by : Paul Whiteley

Download or read book Political Control of the Macroeconomy written by Paul Whiteley and published by London ; Beverly Hills : Sage Publications. This book was released on 1986 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Paul Whiteley integrates two fields of study which have traditionally remained separate - public policy analysis and macroeconomic theory. He applies theoretical models from macroeconomics to key issues in public policy analysis. He measures the effects of technological change, the nature of economic growth, and the extent to which government can stimulate productivity and manipulate the economy for electoral purposes. Two dimensions, essential in understanding the political determinants of economic policy, are highlighted: the short- and long-term effects of policies; and the relationship between policy instruments, such as public expenditure, and policy targets, such as full employment. Using cross-sectional and time-series data, Paul Whiteley tests and develops models for assessing policies and their outcomes. His conclusions about government mechanisms for exerting influence on the economy have important implications for public policy and macroeconomic analyses.

Monetary Policy and Macroprudential Regulation with Financial Frictions

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Publisher : MIT Press
ISBN 13 : 0262044226
Total Pages : 601 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis Monetary Policy and Macroprudential Regulation with Financial Frictions by : Pierre-Richard Agenor

Download or read book Monetary Policy and Macroprudential Regulation with Financial Frictions written by Pierre-Richard Agenor and published by MIT Press. This book was released on 2020-11-10 with total page 601 pages. Available in PDF, EPUB and Kindle. Book excerpt: An integrated analysis of how financial frictions can be accounted for in macroeconomic models built to study monetary policy and macroprudential regulation. Since the global financial crisis, there has been a renewed effort to emphasize financial frictions in designing closed- and open-economy macroeconomic models for monetary and macroprudential policy analysis. Drawing on the extensive literature of the past decade as well as his own contributions, in this book Pierre-Richard Agénor provides a unified set of theoretical and quantitative macroeconomic models with financial frictions to explore issues that have emerged in the wake of the crisis. These include the need to understand better how the financial system amplifies and propagates shocks originating elsewhere in the economy; how it can itself be a source of aggregate fluctuations; the extent to which central banks should account for financial stability considerations in the conduct of monetary policy; whether national central banks and regulators should coordinate their policies to promote macroeconomic and financial stability; and how much countercyclical macroprudential policies should be coordinated at the international level to mitigate financial spillovers across countries. Agénor focuses on upper middle-income countries, which differ from advanced economies in terms of both their structural features (which include a financial sector dominated by banks, weak supervisory capacity, and a high degree of vulnerability to external shocks) and their long-standing policy challenges (such as managing volatile capital flows). Some of the analytical insights and broad policy lessons that can be drawn from the book will be of relevance to advanced economies as well.

Macroeconomic Reform in China

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Publisher : World Bank Publications
ISBN 13 : 9780821340189
Total Pages : 172 pages
Book Rating : 4.3/5 (41 download)

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Book Synopsis Macroeconomic Reform in China by : Jiwei Lou

Download or read book Macroeconomic Reform in China written by Jiwei Lou and published by World Bank Publications. This book was released on 1997-01-01 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: China is in the throes of two transitions: from a command economy to a market-based one and from a rural, agricultural society to an urban, industrial one. So far, both transitions have been spectacularly successful. China is the fastest-growing economy in the world, with per capita incomes more than quadrupling since 1978, achieving in two generations what took other countries centuries. Although swift growth and structural change have resolved many problems, they also have created new challenges: employment insecurity, growing inequality, stubborn poverty, mounting environmental pressures, rising costs of food self-sufficiency, and periods of macroeconomic instability stemming from incomplete reforms. Unmet, these challenges could undermine the sustainability of growth, and Chinas promise could fade. China 2020, a seven-volume set, examines China's recent history, where it is today, and the path it should follow during the first two decades of the 21st century. The volume in the set entitled, Clear Water, Blue Skies: Chinas Environment in the New Century explores the relationship between economic growth and the environment. Chapters review the harmful effects of all forms of pollution and discuss ways of securing higher environmental living standards. Particular attention is given to urban areas and the impact of pollution on health conditions.

Dealing with the Challenges of Macro Financial Linkages in Emerging Markets

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Publisher : World Bank Publications
ISBN 13 : 1464800030
Total Pages : 307 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Dealing with the Challenges of Macro Financial Linkages in Emerging Markets by : Otaviano Canuto

Download or read book Dealing with the Challenges of Macro Financial Linkages in Emerging Markets written by Otaviano Canuto and published by World Bank Publications. This book was released on 2013-10-29 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the challenges of macro financial linkages in the emerging markets.

Product Market Regulation and Macroeconomic Performance

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Publisher : World Bank Publications
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4./5 ( download)

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Book Synopsis Product Market Regulation and Macroeconomic Performance by : Fabio Schiantarelli

Download or read book Product Market Regulation and Macroeconomic Performance written by Fabio Schiantarelli and published by World Bank Publications. This book was released on 2005 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The main purpose of this paper is to provide a critical overview of the recent empirical contributions that use cross-country data to study the effects of product market regulation and reform on a country's macroeconomic performance. After a brief review of the theoretical literature and of relevant micro-econometric evidence, the paper discusses the main data and methodological issues related to empirical work on this topic. It then critically evaluates the cross-country evidence on the effects of product market regulation on mark-ups, firm dynamics, investment, employment, innovation, productivity, and output growth. The paper concludes with a summary of lessons learned from the econometric results." -- Cover verso.

The Theory of Competitive Price

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Publisher :
ISBN 13 :
Total Pages : 216 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis The Theory of Competitive Price by : George Joseph Stigler

Download or read book The Theory of Competitive Price written by George Joseph Stigler and published by . This book was released on 1946 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Kalman Filter Approach to Closed-loop Macro-economic Regulation in the Netherlands

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Publisher :
ISBN 13 :
Total Pages : 119 pages
Book Rating : 4.:/5 (258 download)

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Book Synopsis A Kalman Filter Approach to Closed-loop Macro-economic Regulation in the Netherlands by : Keshav P. Vishwakarma

Download or read book A Kalman Filter Approach to Closed-loop Macro-economic Regulation in the Netherlands written by Keshav P. Vishwakarma and published by . This book was released on 1973 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Regulation and Macroeconomic Performance

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Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Regulation and Macroeconomic Performance by : Norman Loayza

Download or read book Regulation and Macroeconomic Performance written by Norman Loayza and published by . This book was released on 2005 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Regulation is purportedly enacted to serve specific social purposes. In reality, however, it follows a more complex political economy process, where legitimate social goals are mixed with the objectives of particular interest groups. Whatever its justification and objectives, regulation can have potentially significant macroeconomic consequences by helping or hampering the dynamics of economic restructuring and resource reallocation that underlie the growth process. Loayza, Oviedo, and Serven provide an empirical analysis of the macroeconomic impact of regulation. They first characterize the stylized facts on regulation across the world using a set of newly constructed, comprehensive indicators of regulation in a large number of countries in the 1990s. Using these indicators, the authors study the effects of regulation on economic growth and macroeconomic volatility using cross-country regression analysis. In particular, they consider whether the effects of regulation are affected by the country's level of institutional development. Finally, their analysis controls for the likely endogeneity of regulation with respect to macroeconomic performance. The authors conclude that a heavier regulatory burden reduces growth and increases volatility, although these effects are smaller the higher the quality of the overall institutional framework. This paper--a product of the Growth and Investment Team, Development Research Group--is part of a larger effort in the group to understand the process of economic reform"--World Bank web site.

Regulation and Macroeconomic Performance

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)

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Book Synopsis Regulation and Macroeconomic Performance by : Norman V. Loayza

Download or read book Regulation and Macroeconomic Performance written by Norman V. Loayza and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulation is purportedly enacted to serve specific social purposes. In reality, however, it follows a more complex political economy process, where legitimate social goals are mixed with the objectives of particular interest groups. Whatever its justification and objectives, regulation can have potentially significant macroeconomic consequences, by helping or hampering the dynamics of economic restructuring and resource reallocation that underlie the growth process. This paper provides an empirical analysis of the macroeconomic impact of regulation. It first characterizes the stylized facts on regulation across the world, using a set of newly constructed, comprehensive indicators of regulation in a large number of countries in the 1990s. Using these indicators, the paper studies the effects of regulation on economic growth and macroeconomic volatility employing cross-country regression analysis. In particular, the paper considers whether the effects of regulation are affected by the country's level of institutional development. Finally, the analysis controls for the likely endogeneity of regulation with respect to macroeconomic performance. The paper concludes that a heavier regulatory burden reduces growth and increases volatility, although these effects are smaller the higher the quality of the overall institutional framework.