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Author : Gerald Carlino
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (124 download)
Download or read book Macro Fiscal Policy in Economic Unions : States as Agents written by Gerald Carlino and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gerald Carlino
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (861 download)
Download or read book Macro Fiscal Policy in Economic Unions written by Gerald Carlino and published by . This book was released on 2014-09-24 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: An important component of the Am. Recovery and Reinvestment Act's (ARRA's) $796 billion proposed stimulus budget was $318 in fiscal assistance to state and local governments, yet there are no precise estimates of the impact of such assistance on the macroeconomy. Government evaluations using the impacts of direct federal spending and tax relief miss the role of states as agents. This report provides estimates of aid's multiplier effects allowing explicitly for state behavior. It concludes that: (1) federal transfers to state and local governments are less stimulative than transfers to households and firms; (2) federal aid for welfare spending is more stimulative than is general purpose aid; (3) an estimated model of state government fiscal behavior provides a microeconomic foundation for the observed macroeconomic impacts of aid. Figures and tables. This is a print on demand report.
Author : James Forder
Publisher : Psychology Press
ISBN 13 : 0415141966
Total Pages : 218 pages
Book Rating : 4.4/5 (151 download)
Download or read book The European Union and National Macroeconomic Policy written by James Forder and published by Psychology Press. This book was released on 1998 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Union and National Macroeconomic Policy examines the way in which the European Union has affected autonomy in the macro-economic policy making of the member states.
Author : Michael Carlberg
Publisher : Springer Verlag
ISBN 13 : 9783540736325
Total Pages : 284 pages
Book Rating : 4.7/5 (363 download)
Download or read book Macroeconomics of Monetary Union written by Michael Carlberg and published by Springer Verlag. This book was released on 2007-08-17 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is what we’ve all been waiting for – a book that demystifies the European community’s monetary union. Unlike other books, this one provides readers with a practical yet sophisticated grasp of the macroeconomic principles necessary to understand a monetary union. The most important case in point is the Euro area, where policy targets are price stability and full employment. To illustrate all of this there are numerical simulations of monetary policy, fiscal policy, and wage policy.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498344658
Total Pages : 257 pages
Book Rating : 4.4/5 (983 download)
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.
Author : Michael Carlberg
Publisher : Springer Science & Business Media
ISBN 13 : 3540247963
Total Pages : 298 pages
Book Rating : 4.5/5 (42 download)
Download or read book Policy Competition and Policy Cooperation in a Monetary Union written by Michael Carlberg and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: European monetary unification seems to be one of the most important events in international monetary affairs since the breakdown of Bretton Woods. It pos es a major challenge to central banks, governments, and labour unions. It opens up new fields of economic research that are both intriguing and fascinating. European Monetary Union amounts to a switch of regime. Surely the Mundell Fleming model of the open economy does no longer apply to Germany or France. The effects of shocks and policies on output and prices should have changed dramatically in size. Some of them should even work in the opposite direction now. The present book is part of a larger research project on monetary union, see Carlberg (1999, 2000, 2001, 2002, 2003). Some parts of this project were presented at the World Congress of the International Economic Association in Lisbon. Other parts were presented at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association in Klagenfurt, at the Pass au Workshop on International Economics, at the Halle Workshop on Monetary Economics, and at the Research Seminar on Macroeconomics in Freiburg. Moreover, book reviews were published in the Economic Journal, Kyklos, the Journal of Economics, and the Journal of Economics and Statistics.
Author : Michael Carlberg
Publisher : Springer Science & Business Media
ISBN 13 : 3540927514
Total Pages : 263 pages
Book Rating : 4.5/5 (49 download)
Download or read book Strategic Policy Interactions in a Monetary Union written by Michael Carlberg and published by Springer Science & Business Media. This book was released on 2009-03-10 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the strategic policy interactions in a monetary union. The leading protagonists are the European Central Bank and national governments. The target of the ECB is low inflation in Europe. The targets of a national government are low unemployment and a low structural deficit. There are demand shocks, supply shocks, and mixed shocks. There are country-specific shocks and common shocks. This book develops a series of basic, intermediate, and more advanced models. Here the focus is on the Nash equilibrium. The key questions are: Given a shock, can policy interactions reduce the existing loss? And to what extent can they do so? Another topical issue is policy cooperation. To illustrate all of this there are a lot of numerical examples. The present book is part of a larger research project on European Monetary Union, see the references given at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association, at the International Conference on Macroeconomic Analysis, at the International Institute of Public Finance, and at the International Atlantic Economic Conference. Other parts were presented at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Göttingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, at the Research Seminar on Economics in Kassel, and at the Passau Workshop on International Economics.
Author : Anwar M. Shah
Publisher : World Bank Publications
ISBN 13 : 0821363271
Total Pages : 362 pages
Book Rating : 4.8/5 (213 download)
Download or read book Macro Federalism and Local Finance written by Anwar M. Shah and published by World Bank Publications. This book was released on 2008-06-20 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: The design of a federal system to deal with growth, stabilization, and regional and local development issues is the primary concern of this volume, edited by Anwar Shah. The book provides analytical tools to address issues arising from globalization, localization, and regional integration. It discusses tax harmonization issues associated with subnational value added tax administration. It provides a framework for fiscal discipline in a federal system. Lessons from international experiences from policies to deal with lagging regions are drawn. The book empirically examines the effect of fiscal decentralization on the overall size of the public sector. Finally, it draws lessons from industrial countries' experiences on local governance. This important new series represents a response to several independent evaluations in recent years that have argued that development practitioners and policy makers dealing with public sector reforms in developing countries and, indeed, anyone with a concern for effective public governance could benefit from a synthesis of newer perspectives on public sector reforms. This series distills current wisdom and presents tools of analysis for improving the efficiency, equity, and efficacy of the public sector. Leading public policy experts and practitioners have contributed to the series.
Author : Michael Carlberg
Publisher : Springer Science & Business Media
ISBN 13 : 3540793011
Total Pages : 250 pages
Book Rating : 4.5/5 (47 download)
Download or read book Inflation and Unemployment in a Monetary Union written by Michael Carlberg and published by Springer Science & Business Media. This book was released on 2008-07-15 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the coexistence of inflation and unemployment in a monetary union. The focus is on how to reduce the associated loss. The primary target of the European central bank is low inflation in Europe. The primary target of the German government is low unemployment in Germany. And the primary target of the French government is low unemployment in France. The European central bank has a quadratic loss function. The same applies to the German government and the French government. The key questions are: To what extent can the sequential process of monetary and fiscal decisions reduce the loss caused by inflation and unemployment? Is monetary and fiscal cooperation superior to the sequential process of monetary and fiscal decisions? The present book is part of a larger research project on European Monetary Union, see the references given at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association, at the International Conference on Macroeconomic Analysis, at the International Institute of Public Finance, and at the International Atlantic Economic Conference. Other parts were presented at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Göttingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, at the Research Seminar on Economics in Kassel, and at the Passau Workshop on International Economics.
Author : Michael Carlberg
Publisher : Springer Science & Business Media
ISBN 13 : 3540298002
Total Pages : 298 pages
Book Rating : 4.5/5 (42 download)
Download or read book Monetary and Fiscal Policies in the Euro Area written by Michael Carlberg and published by Springer Science & Business Media. This book was released on 2006-03-14 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the interactions between monetary and fiscal poUcies in the euro area. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the European central bank, the American central bank, the German government, and the French government. As to policy cooperation, the focus is on the same institutions. These are higher-dimensional issues. The pohcy targets are price stability and full employment. The policy makers follow co- turkey or gradualist strategies. The policy decisions are taken sequentially or simultaneously. Monetary and fiscal policies have spillover effects. Special features of this book are numerical simulations of policy competition and numerical solutions to policy cooperation. The present book is part of a larger research project on European Monetary Union, see the references at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association. Other parts were presented at the International Conference on Macroeconomic Analysis, at the International Institute of Public Finance, at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Gottingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, and at the Passau Workshop on International Economics.
Author : Theresa Petra Hauck
Publisher : GRIN Verlag
ISBN 13 : 3668298351
Total Pages : 72 pages
Book Rating : 4.6/5 (682 download)
Download or read book Macroeconomic Policy Coordination in EMU written by Theresa Petra Hauck and published by GRIN Verlag. This book was released on 2016-09-14 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2016 in the subject Economics - Macro-economics, general, grade: 1,0, University of Bamberg, language: English, abstract: The financial crisis and the subsequent European sovereign debt crisis have highlighted the high degree of interdependence among EMU member states. The crisis period made much more clear that a macroeconomic policy coordination framework is indispensable as there is great sensibility and high risk for contagion effects. The structure of EMU in its highest level of integration as of one monetary authority vis-à-vis many fiscal authorities brings about several specific aspects regarding coordination. In order to achieve and ensure economic stability in such a unique constellation there have been established several measures and frameworks with the Stability and Growth Pact as the centre point. Designed on the grounds of and motivated by the objective of stabilising the overall economy, the pact promotes fiscal discipline through limiting government deficits and debts in order to prevent adverse fiscal spillover effects and freeriding behaviour of national fiscal authorities which could risk price and overall macroeconomic stability of the common currency area. This however brings about limitations for governments to discretionarily react to national economic needs and conditions. This bachelor thesis addresses the resulting tension between a theoretical and fundamental need for macroeconomic policy coordination in a monetary union environment and the politico-economic reality. The main goals are: to examine the main arguments in favour and against the pact under the areas of content, objectives and enforcement design; to highlight the resulting trade-offs; and to link these to developments and reforms of the pact but also to different economic contexts, namely the time period before and the time period during and after the crisis. The main finding is that reforms regarding macroeconomic policy coordination which were introduced after the beginning of the crisis period do not represent a rearrangement of the SGP framework and rather address the same debate on economic trade-offs only with a changed set of conditions. The reforms regarding the pact can be described as developments refocusing on the core of the pact while still shifting it in the directions of some propositions along with criticism which had been expressed long before the crisis period.
Author : Herbert Giersch
Publisher : Routledge
ISBN 13 : 0429690185
Total Pages : 382 pages
Book Rating : 4.4/5 (296 download)
Download or read book Macro And Micro Policies For More Growth And Employment written by Herbert Giersch and published by Routledge. This book was released on 2019-03-04 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: Major industrial countries have shown strikingly different performances in recent years. Between 1982 and 1987 • employment in the United States and Japan increased by 13 and 6 per cent respectively but only by 2 per cent in Western Europe. While unemployment rates in America and Japan are presently almost as low as they were in the late 1970s when the cyclical position was about the same • they are double as high as they were then in Western Europe. Correspondingly, GNP growth in Western Europe was low by past and international standards.
Author : Thad Kousser
Publisher : Cambridge University Press
ISBN 13 : 1139576933
Total Pages : 301 pages
Book Rating : 4.1/5 (395 download)
Download or read book The Power of American Governors written by Thad Kousser and published by Cambridge University Press. This book was released on 2012-09-17 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: With limited authority over state lawmaking, but ultimate responsibility for the performance of government, how effective are governors in moving their programs through the legislature? This book advances a new theory about what makes chief executives most successful and explores this theory through original data. Thad Kousser and Justin H. Phillips argue that negotiations over the budget, on the one hand, and policy bills on the other are driven by fundamentally different dynamics. They capture these dynamics in models informed by interviews with gubernatorial advisors, cabinet members, press secretaries and governors themselves. Through a series of novel empirical analyses and rich case studies, the authors demonstrate that governors can be powerful actors in the lawmaking process, but that what they're bargaining over – the budget or policy – shapes both how they play the game and how often they can win it.
Author : Willem H. Buiter
Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.X/5 (2 download)
Download or read book Macroeconomic Policy During a Transition to Monetary Union written by Willem H. Buiter and published by . This book was released on 1995 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Vitor Gaspar
Publisher : International Monetary Fund
ISBN 13 : 1475537689
Total Pages : 61 pages
Book Rating : 4.4/5 (755 download)
Download or read book Macroeconomic Management When Policy Space is Constrained written by Vitor Gaspar and published by International Monetary Fund. This book was released on 2016-09-28 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: TBD
Author : Richard Hemming
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.:/5 (318 download)
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.
Author : Guillermo E. Perry
Publisher : World Bank Publications
ISBN 13 : 0821370855
Total Pages : 354 pages
Book Rating : 4.8/5 (213 download)
Download or read book Fiscal Policy, Stabilization, and Growth written by Guillermo E. Perry and published by World Bank Publications. This book was released on 2007-10-19 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects of fiscal policy on growth and on macroeconomic volatility over the cycle. Important issues such as the composition of public expenditures (and its effects on growth), the ability of fiscal policy to stabilize cyclical fluctuations, and the currency composition of public debt were largely neglected. As a result, fiscal policy has often amplified cyclical volatility and dampened growth. 'Fiscal Policy, Stabilization, and Growth' explores the conduct of fiscal policy in Latin America and its consequences for macroeconomic stability and long-term growth. In particular, the book highlights the procyclical and anti-investment biases embedded in the region's fiscal policies, explores their causes and macroeconomic consequences, and asesses their possible solutions.
