Successful Austerity in the United States, Europe and Japan

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1475505388
Total Pages : 61 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Successful Austerity in the United States, Europe and Japan by : Nicoletta Batini

Download or read book Successful Austerity in the United States, Europe and Japan written by Nicoletta Batini and published by International Monetary Fund. This book was released on 2012-07-01 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: The output effects of 2009 fiscal expansions have been hotly debated. But the discussion of fiscal multipliers is even more relevant now that several European countries have had to quickly retract their stimulus measures in an effort to regain market confidence. Using regime-switching VARs we estimate the impact of fiscal adjustment on the United States, Europe and Japan allowing for fiscal multipliers to vary across recessions and booms. We also estimate ex ante probabilities of recessions derived in association with different-sized and different types of consolidation shocks (expenditure- versus tax-based). We use these estimates to understand how consolidations should be designed to be most effective in terms of permanently and rapidly reducing a country’s debt-to-GDP ratio. The main finding is that smooth and gradual consolidations are to be preferred to frontloaded or aggressive consolidations, especially for economies in recession facing high risk premia on public debt, because sheltering growth is key to the success of fiscal consolidation in these cases.

Restoring Japan's Economic Growth

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Author :
Publisher : Peterson Institute
ISBN 13 : 9780881322620
Total Pages : 216 pages
Book Rating : 4.3/5 (226 download)

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Book Synopsis Restoring Japan's Economic Growth by : Adam Simon Posen

Download or read book Restoring Japan's Economic Growth written by Adam Simon Posen and published by Peterson Institute. This book was released on 1998 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Criticism of current Japanese macroeconomic and financial policies is so wide spread that the reasons for it are assumed to be self-evident. In this volume, Adam Posen explains in depth why a shift in Japanese fiscal and monetary policies, as well as financial reform, would be in Japan's self-interest. He demonstrates that Japanese economic stagnation in the 1990s is the result of mistaken fiscal austerity and financial laissez-faire rather than a structural decline of the "Japan Model." The author outlines a program for putting the country back on the path to solid economic growth - primarily through permanent tax cuts and monetary stabilization - and draws broader lessons from the recent Japanese policy actions that led to the country's continuing stagnation.

Expansionary Austerity New International Evidence

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Publisher : International Monetary Fund
ISBN 13 : 1455294691
Total Pages : 41 pages
Book Rating : 4.4/5 (552 download)

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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.

Austerity

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Author :
Publisher : Oxford University Press
ISBN 13 : 0199389446
Total Pages : 305 pages
Book Rating : 4.1/5 (993 download)

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Book Synopsis Austerity by : Mark Blyth

Download or read book Austerity written by Mark Blyth and published by Oxford University Press. This book was released on 2015 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Austerity: The History of a Dangerous Idea, Mark Blyth, a renowned scholar of political economy, provides a powerful and trenchant account of the shift toward austerity policies by governments throughout the world since 2009. The issue is at the crux about how to emerge from the Great Recession, and will drive the debate for the foreseeable future.

Eurotragedy

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Publisher : Oxford University Press
ISBN 13 : 0199351384
Total Pages : 673 pages
Book Rating : 4.1/5 (993 download)

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Book Synopsis Eurotragedy by : Ashoka Mody

Download or read book Eurotragedy written by Ashoka Mody and published by Oxford University Press. This book was released on 2018 with total page 673 pages. Available in PDF, EPUB and Kindle. Book excerpt: EuroTragedy is an incisive exploration of the tragedy of how the European push for integration was based on illusions and delusions pursued in the face of warnings that the pursuit of unity was based on weak foundations.

Michał Kalecki in the 21st Century

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Author :
Publisher : Springer
ISBN 13 : 1137428287
Total Pages : 432 pages
Book Rating : 4.1/5 (374 download)

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Book Synopsis Michał Kalecki in the 21st Century by : J. Toporowski

Download or read book Michał Kalecki in the 21st Century written by J. Toporowski and published by Springer. This book was released on 2014-12-18 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading experts on Kalecki have contributed special essays on what economists in the 21st century have to learn from the theories of Kalecki. Authors include surviving students of Kalecki, such as Amit Bhaduri, Mario Nuti, Kazimierz Laski Jerzy Osiatynski, and Post-Keynesian economists such as Geoff Harcourt, Marc Lavoie, and Malcolm Sawyer.

Women, Work, and the Economy

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Publisher : International Monetary Fund
ISBN 13 : 1475566565
Total Pages : 42 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Women, Work, and the Economy by : Ms.Katrin Elborgh-Woytek

Download or read book Women, Work, and the Economy written by Ms.Katrin Elborgh-Woytek and published by International Monetary Fund. This book was released on 2013-12-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The proposed SDN discusses the specific macro-critical aspects of women’s participation in the labor market and the constraints that prevent women from developing their full economic potential. Building on earlier Fund analysis, work undertaken by other organizations and academic research, the SDN presents possible policies to overcome these obstacles in different types of countries.

Operational Research in Agriculture and Tourism

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Author :
Publisher : Springer Nature
ISBN 13 : 3030387666
Total Pages : 223 pages
Book Rating : 4.0/5 (33 download)

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Book Synopsis Operational Research in Agriculture and Tourism by : Evangelia Krassadaki

Download or read book Operational Research in Agriculture and Tourism written by Evangelia Krassadaki and published by Springer Nature. This book was released on 2020-05-05 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a diverse range of recent operational research techniques that have been applied to agriculture and tourism management. It covers both the primary sector of agriculture and agricultural economics, and the tertiary sector of the tourism industry. Findings and lessons learned from these innovations can be readily applied to various other contexts. The book chiefly focuses on cooperative management issues, and on developing solutions to provide decision support in multi-criteria scenarios.

Jobs and Growth

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Publisher : International Monetary Fund
ISBN 13 : 1484304462
Total Pages : 284 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Jobs and Growth by : Mr.Martin Schindler

Download or read book Jobs and Growth written by Mr.Martin Schindler and published by International Monetary Fund. This book was released on 2014-04-10 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Five years after the onset of the global financial crisis, Europe’s economy is still fragile. Notwithstanding recent positive signs amid calmer financial markets, medium-term growth is likely to remain frail owing to continuing weaknesses and vulnerabilities at the country level and in the fabric of European institutions and banks, especially in the euro area. In addition, unemployment in many countries has reached very high levels. The IMF research collected in this volume provides a number of guideposts that offer an opportunity for stronger and better-balanced growth and employment in Europe after what has been a long and dismal period of crisis.

Economics, Policy and Law. Proceedings of the Research Days Department of Economics

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Author :
Publisher : Roma TrE-Press
ISBN 13 :
Total Pages : 235 pages
Book Rating : 4.2/5 (8 download)

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Book Synopsis Economics, Policy and Law. Proceedings of the Research Days Department of Economics by : Pasquale De Muro

Download or read book Economics, Policy and Law. Proceedings of the Research Days Department of Economics written by Pasquale De Muro and published by Roma TrE-Press. This book was released on 2020-10-06 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: Il volume raccoglie alcuni contributi presentati durante le Giornate della Ricerca, tenute presso il Dipartimento di Economia dell’Università Roma Tre, il 16 e 17 maggio 2019. Oltre a due sessioni plenarie – di apertura e di chiusura – si sono svolte otto sessioni parallele, durante le quali sono stati presentati ben 30 contributi. I temi trattati hanno rispecchiato i principali interessi di ricerca del Dipartimento: la teoria economica micro e macro; le politiche di bilancio, ambientali e di integrazione; la distribuzione personale e funzionale del reddito; il commercio internazionale; la finanza e il sistema bancario; i metodi quantitativi.

The Impact of r-g on the Euro-Area Government Spending Multiplier

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1513569511
Total Pages : 30 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis The Impact of r-g on the Euro-Area Government Spending Multiplier by : Mario di Serio

Download or read book The Impact of r-g on the Euro-Area Government Spending Multiplier written by Mario di Serio and published by International Monetary Fund. This book was released on 2021-02-12 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: We compute government spending multipliers for the Euro Area (EA) contingent on the interestgrowth differential, the so-called r-g. Whether the fiscal shock occurs when r-g is positive or negative matters for the size of the multiplier. Median estimates vary conditional on the specification, but the difference between multipliers in the negative and positive r-g regimes differs systematically from zero with very high probability. Over the medium run (5 years), median cumulated multipliers range between 1.22 and 1.77 when r-g is negative, and between 0.51 and 1.26 when r-g is positive. We show that the results are not driven by the state of the business cycle, the monetary policy stance, or the level of government debt, and that the multiplier is inversely correlated with r-g. The calculations are based on the estimates of a factor-augmented interacted panel vector-autoregressive model. The econometric approach deals with several technical problems highlighted in the empirical macroeconomic literature, including the issues of fiscal foresight and limited information.

Fiscal Multipliers

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498382452
Total Pages : 33 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Fiscal Multipliers by : Nicoletta Batini

Download or read book Fiscal Multipliers written by Nicoletta Batini and published by International Monetary Fund. This book was released on 2014-10-02 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal multipliers are important tools for macroeconomic projections and policy design. In many countries, little is known about the size of multipliers, as data availability limits the scope for empirical research. This note provides general guidance on the definition, measurement, and use of fiscal multipliers. It reviews the literature related to their size, persistence and determinants. For countries where no reliable estimate is available, the note proposes a simple method to come up with reasonable values. Finally, the note presents options to incorporate multipliers in macroeconomic forecasts.

OECD Economic Surveys: Finland 2016

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Publisher : OECD Publishing
ISBN 13 : 9264250298
Total Pages : 106 pages
Book Rating : 4.2/5 (642 download)

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Book Synopsis OECD Economic Surveys: Finland 2016 by : OECD

Download or read book OECD Economic Surveys: Finland 2016 written by OECD and published by OECD Publishing. This book was released on 2016-01-28 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2016 OECD Economic Survey of Finland examines recent economic developments, policies and prospects. The special chapters cover: Productivity and Employment and Skills.

Handbook on Austerity, Populism and the Welfare State

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Author :
Publisher : Edward Elgar Publishing
ISBN 13 : 1789906741
Total Pages : 432 pages
Book Rating : 4.7/5 (899 download)

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Book Synopsis Handbook on Austerity, Populism and the Welfare State by : Bent Greve

Download or read book Handbook on Austerity, Populism and the Welfare State written by Bent Greve and published by Edward Elgar Publishing. This book was released on 2021-05-28 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: This innovative Handbook presents the core concepts associated with austerity, retrenchment and populism and explores how they can be used to analyse developments in different welfare states and in specific social policies. Leading experts highlight how these concepts have influenced and changed welfare states around the globe and impacted specific areas including pensions, long-term care, the labour market, taxation, social activism and gender equality.

The Mechanics of a Strong Euro Area

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Publisher : International Monetary Fund
ISBN 13 : 1513566768
Total Pages : 286 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis The Mechanics of a Strong Euro Area by : Ms.Petya Koeva Brooks

Download or read book The Mechanics of a Strong Euro Area written by Ms.Petya Koeva Brooks and published by International Monetary Fund. This book was released on 2015-10-21 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Among member states, many structural weaknesses were exposed when economic performance declined significantly and financial markets became more discerning. This book focuses on the analytical underpinnings of real-time policy advice given to euro area policymakers during four cycles of the IMF’s annual Article IV consultations (2012–15) with euro area authorities.

What Is the Truth About the Great Recession and Increasing Inequality?

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Author :
Publisher : Springer
ISBN 13 : 331998621X
Total Pages : 206 pages
Book Rating : 4.3/5 (199 download)

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Book Synopsis What Is the Truth About the Great Recession and Increasing Inequality? by : Mario Morroni

Download or read book What Is the Truth About the Great Recession and Increasing Inequality? written by Mario Morroni and published by Springer. This book was released on 2018-09-15 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Have you ever puzzled over the causes of the 2007–8 financial crisis and wondered how it will affect all our futures? If so, this book is for you. Using imagined dialogue between three economists with contrasting theoretical perspectives and a student who knows little about economics, different interpretations are compared in straightforward, jargon-free language. The book explores both the consequences of neoliberal economic policies based on the belief in efficient, self-regulating markets and the implications of alternative economic visions formulated in response to the Great Recession. In all, nine dialogues are presented, each of which focuses on a key theme: increasing inequality, the failure of economists to predict the crash, the reasons for fiscal austerity, the rolling back of the welfare state, the roles of the state and the market, the repercussions of the German trade surplus and the Eurozone crisis, policies to confront the crisis, environmental degradation, and the need for an industrial policy appropriate to the present day. The book will be ideal for both general readers and those embarking on the study of economics.

Public Debt, Global Governance and Economic Dynamism

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Author :
Publisher : Springer Science & Business Media
ISBN 13 : 8847053315
Total Pages : 367 pages
Book Rating : 4.8/5 (47 download)

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Book Synopsis Public Debt, Global Governance and Economic Dynamism by : Luigi Paganetto

Download or read book Public Debt, Global Governance and Economic Dynamism written by Luigi Paganetto and published by Springer Science & Business Media. This book was released on 2014-07-08 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents a selection of contributions to the XXIV Villa Mondragone International Economic Seminar on “Public debt, global governance and economic dynamism”. For the past 23 years, the Seminar has provided an ideal opportunity to meet and discuss the most topical issues in economic research. The quality of the scientific contributions and ensuing debates has consistently been outstanding owing to the participation of leading experts, and the most recent Seminar was no exception. The Seminar was held against the backdrop of high levels of public debt, especially in Europe, combined with very low growth in productivity. Furthermore, markets have been dominated by financial instability, raising the question of whether this is the result of the high debt levels or insufficient economic dynamism. Among the topics covered in this book are the economic challenges and growth policies in the United States; issues relating to the G20, global governance and regional integration; EU governance, growth and the Eurozone crisis; and EMU policy and public debt. Individual contributions also address the impact of labor market reforms, the need for sectoral rebalancing in the Euro area, fiscal multipliers and public debt dynamics, and the effects of fiscal shocks in Italy. The book concludes with a contribution on policy recommendations.