The New Economy And Macroeconomic Stability

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The New Economy and Macroeconomic Stability

Author : Dario Togati
Publisher : Routledge
ISBN 13 : 1134302789
Total Pages : 320 pages
Book Rating : 4.1/5 (343 download)

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Book Synopsis The New Economy and Macroeconomic Stability by : Dario Togati

Download or read book The New Economy and Macroeconomic Stability written by Dario Togati and published by Routledge. This book was released on 2013-03-07 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past decade has seen many leading economies, especially the US, undergo profound structural transformations. Departing from the standard theories employed to explain this phenomenon, here author Togati provides the first broad analysis of the New Economy. In this book, the first to look at the new economy from a post-Keynesian / post-modern perspective, he focuses on its macroeconomic implications, presenting a more balanced view than that provided by orthodox neoclassical analysis, and studying the interaction of key variables such as: * information technology * globalization * the increasing significance of intangibles and financial markets. This ground-breaking book utilizes a ‘neo-modern’ perspective drawing on complexity theory to advance the study of the stability and dynamic behaviour of economic systems. Togati utilizes the Calvino labels to identify new empirical evidence, and examines the implications for global stability based on New Classical Macroeconomics and Keynsian theory. The analysis developed in this book has important practical and policy implications for the New Economy, making this book essential reading for students, academics and practitioners in this field.

Macroeconomic Policy After the Conservative Era

Author : Gerald A. Epstein
Publisher : Cambridge University Press
ISBN 13 : 9780521462907
Total Pages : 494 pages
Book Rating : 4.4/5 (629 download)

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Book Synopsis Macroeconomic Policy After the Conservative Era by : Gerald A. Epstein

Download or read book Macroeconomic Policy After the Conservative Era written by Gerald A. Epstein and published by Cambridge University Press. This book was released on 1995-12-14 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: A conservative approach to economic growth has dominated policy circles for close to two decades. This approach holds that the key to restoring economic growth lies in reducing the size and role of government in the market economy through deregulation of the financial sector, privatization, and lower taxes. The contributors to this book argue that the principles of "trickle down" economics are of dubious validity, and have led to economic stagnation, high unemployment, and increasing inequality. They develop a new perspective on macroeconomic policy, one affirming that egalitarian and democratic economic structures are not only compatible with economic revival, but in fact offer the best hope for sustainable growth of living standards. Their alternative recognizes that markets have an important role to play, but only within the framework of macroeconomic stability, corrections of market failures, and egalitarian rules of the game.

Macroeconomic Stability in Resource-Rich Countries

Author : Ms.Elva Bova
Publisher : International Monetary Fund
ISBN 13 : 149837722X
Total Pages : 28 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Macroeconomic Stability in Resource-Rich Countries by : Ms.Elva Bova

Download or read book Macroeconomic Stability in Resource-Rich Countries written by Ms.Elva Bova and published by International Monetary Fund. This book was released on 2016-02-23 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Resource-rich countries face large and persistent shocks, especially coming from volatile commodity prices. Given the severity of the shocks, it would be expected that these countries adopt countercyclical fiscal policies to help shield the domestic economy. Taking advantage of a new dataset covering 48 non-renewable commodity exporters for the period 1970-2014, we investigate whether fiscal policy does indeed play a stabilizing role. Our analysis shows that fiscal policy tends to have a procyclical bias (mainly via expenditures) and, contrary to others, we do not find evidence that this bias has declined in recent years. Adoption of fiscal rules does not seem to reduce procyclicality in a significant way, but the quality of political institutions does matter. Finally, non-commodity revenues tend to respond only to persistent changes in commodity prices.

Beyond Macroeconomic Stability

Author : Iyanatul Islam
Publisher : Springer
ISBN 13 : 1137379251
Total Pages : 353 pages
Book Rating : 4.1/5 (373 download)

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Book Synopsis Beyond Macroeconomic Stability by : Iyanatul Islam

Download or read book Beyond Macroeconomic Stability written by Iyanatul Islam and published by Springer. This book was released on 2014-02-25 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume goes beyond a narrow conceptualization of macroeconomic stability and explores the link between socio-economic policies, structural transformation and inclusive development. It rests on three thematic pillars: the limits of conventional macroeconomics; the long run agenda of structural transformation and the development of capabilities.

The New Economy

Author : Organisation for Economic Co-operation and Development
Publisher : OECD Publishing
ISBN 13 :
Total Pages : 112 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis The New Economy by : Organisation for Economic Co-operation and Development

Download or read book The New Economy written by Organisation for Economic Co-operation and Development and published by OECD Publishing. This book was released on 2001 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shifts that have taken place in growth patterns of the economies of Organisation of Economic Co-Operation and Development countries in recent years are examined. The key factor to examine is productivity, since its increase allows the achievement of faster rates of noninflationary economic expansion. By the end of the 1990s, evidence of productivity growth driven by information and communication technology (ICT) emerged. A surge in hardware and software investment, new networks between suppliers, and expanded consumer choice played their part. ICT appears to facilitate productivity only when accompanied by increased skills and changes in the way work is organized. Policies that combine ICT, human capital, competition, innovation, and entrepreneurship with inflation control are likely to enhance productivity. These factors are mutually reinforcing and not as beneficial used separately. Chapter 1 examines the facts about growth in GDP capital in OECD countries in the past decade. Chapter 2 examines the kinds of policies that are needed to enhance the wider diffusion of ICT. Chapter 3 argues that policies concerning innovation can allow new technologies to expand. Chapter 4 looks at how human capital can promote growth. Chapter 5 focuses on the role of business creation. Chapter 6 warns that the balance of economic and social factors is vital to growth if its benefits are to be widely shared. (Contains 64 references.) (RKJ)

Macroeconomic Stability in Developing Countries

Author : Peter Montiel
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4./5 ( download)

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Book Synopsis Macroeconomic Stability in Developing Countries by : Peter Montiel

Download or read book Macroeconomic Stability in Developing Countries written by Peter Montiel and published by World Bank Publications. This book was released on 2004 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In the 1990s macroeconomic policies improved in a majority of developing countries, but the growth dividend from such improvement fell short of expectations, and a policy agenda focused on stability turned out to be associated with a multiplicity of financial crises. Montiel and Serven take a retrospective look at the content and implementation of the macroeconomic reform agenda of the 1990s. They review the progress achieved with fiscal, monetary, and exchange rate policies across the developing world, and the effectiveness of the changing policy framework in promoting stability and growth. The main lesson is that slow growth and frequent crises resulted, more often than not, from shortcomings in the reform agenda of the 1990s. These shortcomings essentially concern the depth and breadth of the macroeconomic reform agenda, its attention to macroeconomic vulnerabilities, and the complementary reforms outside the macroeconomic sphere"--Abstract.

Business Cycles and Macroeconomic Stability

Author : Jean-Olivier Hairault
Publisher : Springer Science & Business Media
ISBN 13 : 1461561736
Total Pages : 355 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Business Cycles and Macroeconomic Stability by : Jean-Olivier Hairault

Download or read book Business Cycles and Macroeconomic Stability written by Jean-Olivier Hairault and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: Setting the issue "Most economists consider the marked increase in automatic stabilizers a highly favorable development with respect to maintenance of economic stability". Besides the rare privilege of having being signed by both Milton Friedman and Paul Samuelson (Depres,Friedman, Hart, Samuelson, and Wallace [1950]), among others, this sentence expressed as soon as 1950 the consensus view on the stabilizing effect of fiscal rules governing tax revenue and public expendi tures and transfers. This positive ex ante assessment will have been confirmed ex post as part of the explanation for post war stabilization (Burns [1960], de Long and Summers [1986], Moore and Zarnovitz [1986]). However, it becomes disputed in both its positive and normative aspects. Many institutional changes since the eighties point at curbing back the transfer mechanisms underlying automatic stabilizers, and legal restraints on deficits such as the US balanced budget amendment or the European Maastricht criteria would involve serious risks for the future of stabilizers. Under such rules "the government would become, almost inevitally, a destabilizer rather than a stabilizer" said Joseph Stiglitz, quoted by the New York Times (April 1995)). "Built-in stabilizers are automatic fiscal adjustments that reduce the national income multiplier and thus cushion the effects of changes in autonomous spend ing on the level of income" (Pechman [1987]). Early analyses of the automatic fiscal stabilizers include the contributions of A. G. Hart [1945], R. Musgrave and M. Miller (1948) and E. C. Brown (1955).

Economic Growth and Macroeconomic Stabilization Policies in Post-Keynesian Economics

Author : Hassan Bougrine
Publisher : Edward Elgar Publishing
ISBN 13 : 1786439573
Total Pages : 360 pages
Book Rating : 4.7/5 (864 download)

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Book Synopsis Economic Growth and Macroeconomic Stabilization Policies in Post-Keynesian Economics by : Hassan Bougrine

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.

Market Economy & Policy on Two Domestic Currencies

Author : Đức Lương Đỗ
Publisher :
ISBN 13 : 9786049097188
Total Pages : 175 pages
Book Rating : 4.0/5 (971 download)

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Book Synopsis Market Economy & Policy on Two Domestic Currencies by : Đức Lương Đỗ

Download or read book Market Economy & Policy on Two Domestic Currencies written by Đức Lương Đỗ and published by . This book was released on 2009 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Sovereign Risk, Fiscal Policy, and Macroeconomic Stability

Author : Giancarlo Corsetti
Publisher : International Monetary Fund
ISBN 13 : 1463977077
Total Pages : 56 pages
Book Rating : 4.4/5 (639 download)

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Book Synopsis Sovereign Risk, Fiscal Policy, and Macroeconomic Stability by : Giancarlo Corsetti

Download or read book Sovereign Risk, Fiscal Policy, and Macroeconomic Stability written by Giancarlo Corsetti and published by International Monetary Fund. This book was released on 2012-01-01 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the impact of strained government finances on macroeconomic stability and the transmission of fiscal policy. Using a variant of the model by Curdia and Woodford (2009), we study a "sovereign risk channel" through which sovereign default risk raises funding costs in the private sector. If monetary policy is constrained, the sovereign risk channel exacerbates indeterminacy problems: private-sector beliefs of a weakening economy may become self-fulfilling. In addition, sovereign risk amplifies the effects of negative cyclical shocks. Under those conditions, fiscal retrenchment can help curtail the risk of macroeconomic instability and, in extreme cases, even stimulate economic activity.

Macroeconomics for Professionals

Author : Leslie Lipschitz
Publisher : Cambridge University Press
ISBN 13 : 1108568467
Total Pages : 312 pages
Book Rating : 4.1/5 (85 download)

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Book Synopsis Macroeconomics for Professionals by : Leslie Lipschitz

Download or read book Macroeconomics for Professionals written by Leslie Lipschitz and published by Cambridge University Press. This book was released on 2019-01-23 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding macroeconomic developments and policies in the twenty-first century is daunting: policy-makers face the combined challenges of supporting economic activity and employment, keeping inflation low and risks of financial crises at bay, and navigating the ever-tighter linkages of globalization. Many professionals face demands to evaluate the implications of developments and policies for their business, financial, or public policy decisions. Macroeconomics for Professionals provides a concise, rigorous, yet intuitive framework for assessing a country's macroeconomic outlook and policies. Drawing on years of experience at the International Monetary Fund, Leslie Lipschitz and Susan Schadler have created an operating manual for professional applied economists and all those required to evaluate economic analysis.

The New Economy and Macroeconomic Stability

Author : Dario Togati
Publisher : Routledge
ISBN 13 : 1134302797
Total Pages : 319 pages
Book Rating : 4.1/5 (343 download)

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Book Synopsis The New Economy and Macroeconomic Stability by : Dario Togati

Download or read book The New Economy and Macroeconomic Stability written by Dario Togati and published by Routledge. This book was released on 2013-03-07 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past decade has seen many leading economies, especially the US, undergo profound structural transformations. Departing from the standard theories employed to explain this phenomenon, here author Togati provides the first broad analysis of the New Economy. In this book, the first to look at the new economy from a post-Keynesian / post-modern perspective, he focuses on its macroeconomic implications, presenting a more balanced view than that provided by orthodox neoclassical analysis, and studying the interaction of key variables such as: * information technology * globalization * the increasing significance of intangibles and financial markets. This ground-breaking book utilizes a ‘neo-modern’ perspective drawing on complexity theory to advance the study of the stability and dynamic behaviour of economic systems. Togati utilizes the Calvino labels to identify new empirical evidence, and examines the implications for global stability based on New Classical Macroeconomics and Keynsian theory. The analysis developed in this book has important practical and policy implications for the New Economy, making this book essential reading for students, academics and practitioners in this field.

In the Wake of the Crisis

Author : Olivier Blanchard
Publisher : MIT Press
ISBN 13 : 0262526824
Total Pages : 251 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis In the Wake of the Crisis by : Olivier Blanchard

Download or read book In the Wake of the Crisis written by Olivier Blanchard and published by MIT Press. This book was released on 2014-08-29 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prominent economists reconsider the fundamentals of economic policy for a post-crisis world. In 2011, the International Monetary Fund invited prominent economists and economic policymakers to consider the brave new world of the post-crisis global economy. The result is a book that captures the state of macroeconomic thinking at a transformational moment. The crisis and the weak recovery that has followed raise fundamental questions concerning macroeconomics and economic policy. These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital-account management, growth strategies, the international monetary system, and the economic models that should underpin thinking about critical policy choices. Contributors Olivier Blanchard, Ricardo Caballero, Charles Collyns, Arminio Fraga, Már Guðmundsson, Sri Mulyani Indrawati, Otmar Issing, Olivier Jeanne, Rakesh Mohan, Maurice Obstfeld, José Antonio Ocampo, Guillermo Ortiz, Y. V. Reddy, Dani Rodrik, David Romer, Paul Romer, Andrew Sheng, Hyun Song Shin, Parthasarathi Shome, Robert Solow, Michael Spence, Joseph Stiglitz, Adair Turner

Development Macroeconomics

Author : Pierre-Richard Agénor
Publisher : Princeton University Press
ISBN 13 : 140086626X
Total Pages : 792 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Development Macroeconomics by : Pierre-Richard Agénor

Download or read book Development Macroeconomics written by Pierre-Richard Agénor and published by Princeton University Press. This book was released on 2015-06-23 with total page 792 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis triggered severe shocks for developing countries, whose embrace of greater commercial and financial openness has increased their exposure to external shocks, both real and financial. This new edition of Development Macroeconomics has been fully revised to address the more open and less stable environment in which developing countries operate today. Describing the latest advances in this rapidly changing field, the book features expanded coverage of public debt and the management of capital inflows as well as new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, currency unions, and the choice of an exchange-rate regime. A new chapter on dynamic stochastic general equilibrium (DSGE) models with financial frictions has been added to reflect how the financial crisis has reshaped our thinking on the role of such frictions in generating and propagating real and financial shocks. The book also discusses the role of macroprudential regulation, both independently and through its interactions with monetary policy, in preserving financial and macroeconomic stability. Now in its fourth edition, Development Macroeconomics remains the definitive textbook on the macroeconomics of developing countries. The most authoritative book on the subject—now fully revised and expanded Features new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, and much more Comes with online supplements on informal financial markets, stabilization programs, the solution of DSGE models with financial frictions, and exchange rate crises

The Political Economy of Macroeconomic Policy Reform in Latin America

Author : Eduardo Wiesner
Publisher : Edward Elgar Publishing
ISBN 13 : 184844026X
Total Pages : 297 pages
Book Rating : 4.8/5 (484 download)

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Book Synopsis The Political Economy of Macroeconomic Policy Reform in Latin America by : Eduardo Wiesner

Download or read book The Political Economy of Macroeconomic Policy Reform in Latin America written by Eduardo Wiesner and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a must read for anyone interested in policy reforms in Latin America. The author combines tremendous experience in the field and deep knowledge of economic theory: a rare combination. Alberto Alesina, Harvard University, US One of the key contributions of this book is its insistence on the importance of policy, institutional and political accountability for evaluating and enhancing macroeconomic performance and for reducing inequality. John B. Taylor, Stanford University and Hoover Institution, US Dr Wiesner combines a command of modern political and economic theories and detailed knowledge of Latin America to clarify why reform of policies and institutions has proved so difficult in that region. His general conclusion is that initial conditions of inequality and poverty reduce the demand for reform, but he finds that the process manifests itself differently in different countries. He identifies several necessary conditions for breaking out of these vicious circles. Scholars and practitioners alike can learn from his impressively thorough and detailed analysis. Avinash K. Dixit, Princeton University, US This book argues insightfully that underdevelopment is the result of the political economy difficulties some countries have in the effectiveness of public expenditures in general and of social pro-poor expenditures in particular. The policy implication is that reform strategies should focus on identifying the wrong political incentives in public expenditures. Ricardo Hausmann, Harvard University, US Eduardo Wiesner s book makes an important contribution to the understanding of development by blending together the interdependent issues of (i) macroeconomic performance and volatility, (ii) equity and distributive justice, (iii) fiscal deficits and the redistributive effectiveness of social public expenditures, and (iv) the demand for the right institutions and for policy reform in Latin America. It does this by examining recent macroeconomic crises from a political economy perspective, and finds that information is the critical algorithm that links together the demand for macroeconomic stability, macroeconomic performance and, ultimately, distributive justice. This volume is geared toward those interested in the political economy of development and policy reform in general and in Latin America, including academics, policy makers, and the general reader.

Uncertainty, Macroeconomic Stability and the Welfare State

Author : Sven R. Larson
Publisher : Ashgate Publishing
ISBN 13 : 9780754617600
Total Pages : 0 pages
Book Rating : 4.6/5 (176 download)

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Book Synopsis Uncertainty, Macroeconomic Stability and the Welfare State by : Sven R. Larson

Download or read book Uncertainty, Macroeconomic Stability and the Welfare State written by Sven R. Larson and published by Ashgate Publishing. This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first monograph of its kind to attempt to model something that has not been thoroughly addressed before by economists; i.e. a macro-economy that is inherently unstable because of qualitative - or Keynesian - uncertainty. This innovative approach to fixed or sticky prices - suggesting that they improve, rather than impede, economic activity - also investigates the link between uncertainty, sticky prices and macro stability.

Fiscal Policy and Macroeconomic Stability

Author : Mr.Xavier Debrun
Publisher : International Monetary Fund
ISBN 13 : 1455200700
Total Pages : 48 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Fiscal Policy and Macroeconomic Stability by : Mr.Xavier Debrun

Download or read book Fiscal Policy and Macroeconomic Stability written by Mr.Xavier Debrun and published by International Monetary Fund. This book was released on 2010-05-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper revisits the link between fiscal policy and macroeconomic stability. Two salient features of our analysis are (1) a systematic test for the government’s ambivalent role as a shock absorber and a shock inducer—removing a downward bias present in existing estimates of the impact of automatic stabilizers—and (2) a broad sample of advanced and emerging market economies. Results provide strong support for the view that fiscal stabilization operates mainly through automatic stabilizers. Also, the destabilizing impact of policy changes not systematically related to the business cycle may not be as robust as suggested in the literature.