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The Size Of Government And Us European Differences In Economic Performance
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Book Synopsis The Size of Government and U.S.-European Differences in Economic Performance by : Norikazu Tawara
Download or read book The Size of Government and U.S.-European Differences in Economic Performance written by Norikazu Tawara and published by International Monetary Fund. This book was released on 2009-04-01 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: An influential strand of recent research has claimed that large governments in European countries explain their weaker long-term economic performance compared to the U.S. On the other hand, despite these alleged costs, large governments have been popular with electorates. This paper seeks to shed light on this apparent inconsistency; it confirms an adverse effect of taxes on labor supply, but also finds evidence of efficiency-increasing government intervention. However, and especially in the core "Rhineland-model" European countries, actual government policies often depart from such efficient interventions, pointing to the possibility that voters prefer redistribution even at the cost of allocational efficiency.
Book Synopsis The Economics of World War I by : Stephen Broadberry
Download or read book The Economics of World War I written by Stephen Broadberry and published by Cambridge University Press. This book was released on 2005-09-29 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.
Book Synopsis Welfare Policies in the UNECE Region by : Alberto Alesina
Download or read book Welfare Policies in the UNECE Region written by Alberto Alesina and published by . This book was released on 2006 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses why UNECE countries have chosen different social welfare policies, focusing on why the American welfare system is less generous than the typical European one, and examines the causes and implications of these differences. It also explores variations in welfare policies within western European countries by comparing their effectiveness, successes and failures.
Book Synopsis The Economic Performance Index (EPI) by : Mr.Vadim Khramov
Download or read book The Economic Performance Index (EPI) written by Mr.Vadim Khramov and published by International Monetary Fund. This book was released on 2013-10-23 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Existing economic indicators and indexes assess economic activity but no single indicator measures the general macro-economic performance of a nation, state, or region in a methodologically simple and intuitive way. This paper proposes a simple, yet informative metric called the Economic Performance Index (EPI). The EPI represents a step toward clarity, by combining data on inflation, unemployment, government deficit, and GDP growth into a single indicator. In contrast to other indexes, the EPI does not use complicated mathematical procedures but was designed for simplicity, making it easier for professionals and laypeople alike to understand and apply to the economy. To maximize ease of understanding, we adopt a descriptive grading system. In addition to a Raw EPI that gives equal weights to its components, we construct a Weighted EPI and show that both indexes perform similarly for U.S. data. To demonstrate the validity of the EPI, we conduct a review of U.S. history from 1790 to 2012. We show that the EPI reflects the major events in U.S. history, including wars, periods of economic prosperity and booms, along with economic depressions, recessions, and even panics. Furthermore, the EPI not only captures official recessions over the past century but also allows for measuring and comparing their relative severity. Even though the EPI is simple by its construction, we show that its dynamics are similar to those of the Chicago Fed National Activity Index (CFNAI) and The Conference Board Coincident Economic Index® (CEI).
Book Synopsis State Capacity and Economic Development by : Mark Dincecco
Download or read book State Capacity and Economic Development written by Mark Dincecco and published by Cambridge University Press. This book was released on 2017-10-26 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: State capacity - the government's ability to accomplish its intended policy goals - plays an important role in market-oriented economic development today. Yet state capacity improvements are often difficult to achieve. This Element analyzes the historical origins of state capacity. It evaluates long-run state development in Western Europe - the birthplace of both the modern state and modern economic growth - with a focus on three key inflection points: the rise of the city-state, the nation-state, and the welfare state. This Element develops a conceptual framework regarding the basic political conditions that enable the state to take effective policy actions. This framework highlights the government's challenge to exert proper authority over both its citizenry and itself. It concludes by analyzing the European state development process relative to other world regions. This analysis characterizes the basic historical features that helped make Western Europe different. By taking a long-run approach, it provides a new perspective on the deep-rooted relationship between state capacity and economic development.
Book Synopsis Protecting Soldiers and Mothers by : Theda Skocpol
Download or read book Protecting Soldiers and Mothers written by Theda Skocpol and published by Harvard University Press. This book was released on 2009-06-30 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is a commonplace that the United States lagged behind the countries of Western Europe in developing modern social policies. But, as Theda Skocpol shows in this startlingly new historical analysis, the United States actually pioneered generous social spending for many of its elderly, disabled, and dependent citizens. During the late nineteenth century, competitive party politics in American democracy led to the rapid expansion of benefits for Union Civil War veterans and their families. Some Americans hoped to expand veterans' benefits into pensions for all of the needy elderly and social insurance for workingmen and their families. But such hopes went against the logic of political reform in the Progressive Era. Generous social spending faded along with the Civil War generation. Instead, the nation nearly became a unique maternalist welfare state as the federal government and more than forty states enacted social spending, labor regulations, and health education programs to assist American mothers and children. Remarkably, as Skocpol shows, many of these policies were enacted even before American women were granted the right to vote. Banned from electoral politics, they turned their energies to creating huge, nation-spanning federations of local women's clubs, which collaborated with reform-minded professional women to spur legislative action across the country. Blending original historical research with political analysis, Skocpol shows how governmental institutions, electoral rules, political parties, and earlier public policies combined to determine both the opportunities and the limits within which social policies were devised and changed by reformers and politically active social groups over the course of the late nineteenth and early twentieth centuries. By examining afresh the institutional, cultural, and organizational forces that have shaped U.S. social policies in the past, Protecting Soldiers and Mothers challenges us to think in new ways about what might be possible in the American future.
Book Synopsis Long-Run Economic Growth by : Steven Durlauf
Download or read book Long-Run Economic Growth written by Steven Durlauf and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most enduring questions in economics involves how a nation could accelerate the pace of its economic development. One of the most enduring answers to this question is to promote exports -either because doing so directly influences development via encouraging production of goods for export, or because export promotion permits accumulation of foreign exchange which permits importation of high-quality goods and services, which can in turn be used to expand the nation's production possibilities. In either case, growth is said to be export-led; the latter case is the so-called "two-gap" hypothesis (McKinnon, 1964; Findlay, 1973). The early work on export-led growth consisted of static cross-country com parisons (Michaely, 1977; Balassa, 1978; Tyler, 1981; Kormendi and Meguire, 1985). These studies generally concluded that there is strong evidence in favour of export-led growth because export growth and income growth are highly correlated. However, Kravis pointed out in 1970 that the question is an essen tially dynamic one: as he put it, are exports the handmaiden or the engine of growth? To make this determination one needs to look at time series to see whether or not exports are driving income. This approach has been taken in a number of papers (Jung and Marshall, 1985; Chow, 1987; Serletis, 1992; Kunst and Marin, 1989; Marin, 1992; Afxentiou and Serletis, 1991), designed to assess whether or not individual countries exhibit statistically significant evidence of export-led growth using Granger causality tests.
Book Synopsis Expansionary Austerity New International Evidence by : Mr.Daniel Leigh
Download or read book Expansionary Austerity New International Evidence written by Mr.Daniel Leigh and published by International Monetary Fund. This book was released on 2011-07-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.
Book Synopsis Emigration and Its Economic Impact on Eastern Europe by : Mr.Ruben Atoyan
Download or read book Emigration and Its Economic Impact on Eastern Europe written by Mr.Ruben Atoyan and published by International Monetary Fund. This book was released on 2016-07-20 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyses the impact of large and persistent emigration from Eastern European countries over the past 25 years on these countries’ growth and income convergence to advanced Europe. While emigration has likely benefited migrants themselves, the receiving countries and the EU as a whole, its impact on sending countries’ economies has been largely negative. The analysis suggests that labor outflows, particularly of skilled workers, lowered productivity growth, pushed up wages, and slowed growth and income convergence. At the same time, while remittance inflows supported financial deepening, consumption and investment in some countries, they also reduced incentives to work and led to exchange rate appreciations, eroding competiveness. The departure of the young also added to the fiscal pressures of already aging populations in Eastern Europe. The paper concludes with policy recommendations for sending countries to mitigate the negative impact of emigration on their economies, and the EU-wide initiatives that could support these efforts.
Book Synopsis Why Americans Hate Welfare by : Martin Gilens
Download or read book Why Americans Hate Welfare written by Martin Gilens and published by University of Chicago Press. This book was released on 2009-05-13 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tackling one of the most volatile issues in contemporary politics, Martin Gilens's work punctures myths and misconceptions about welfare policy, public opinion, and the role of the media in both. Why Americans Hate Welfare shows that the public's views on welfare are a complex mixture of cynicism and compassion; misinformed and racially charged, they nevertheless reflect both a distrust of welfare recipients and a desire to do more to help the "deserving" poor. "With one out of five children currently living in poverty and more than 100,000 families with children now homeless, Gilens's book is must reading if you want to understand how the mainstream media have helped justify, and even produce, this state of affairs." —Susan Douglas, The Progressive "Gilens's well-written and logically developed argument deserves to be taken seriously." —Choice "A provocative analysis of American attitudes towards 'welfare.'. . . [Gilens] shows how racial stereotypes, not white self-interest or anti-statism, lie at the root of opposition to welfare programs." -Library Journal
Book Synopsis National Saving and Economic Performance by : B. Douglas Bernheim
Download or read book National Saving and Economic Performance written by B. Douglas Bernheim and published by University of Chicago Press. This book was released on 1991-05 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: "... Papers presented at a conference held at the Stouffer Wailea Hotel, Maui, Hawaii, January 6-7, 1989. ... part of the Research on Taxation program of the National Bureau of Economic Research." -- p. ix.
Book Synopsis Government Size and Economic Growth by : Richard K. Vedder
Download or read book Government Size and Economic Growth written by Richard K. Vedder and published by . This book was released on 1998 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Brookings Papers on Economic Activity 2001 by : William C. Brainard
Download or read book Brookings Papers on Economic Activity 2001 written by William C. Brainard and published by Brookings Institution Press. This book was released on 2001-07-01 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: For almost thirty years, Brookings Papers on Economic Activity (BPEA) has provided academic and business economists, government officials, and members of the financial and business communities with timely research of current economic issues. Contents include: " An Analysis of Russia's 1998 Meltdown: Fundamentals and Market Signals" by Homi Kharas, Brian Pinto, and Sergei Ulataov " Does Immigration Grease the Wheels of the Labor Market?" by George Borjas Reports " The Long and Large Decline in U.S. Output Volatility" by Olivier Blanchard and John Simon " The Predictive Power of the Index of Consumer Sentiment" by E. Philip Howrey Symposium on the U.S. Current Account " Is the U.S. Current Account Deficit Sustainable? Will It Be Sustained?" by Richard N. Cooper " The International Dollar Standard and the Sustainability of the U.S. Current Account Deficit" by Ronald I. McKinnon " A Portfolio View of the U.S. Current Account Deficit" by Jaume Ventura
Book Synopsis The Growth of Government and the Reform of the State in Industrial Countries by : Mr.Vito Tanzi
Download or read book The Growth of Government and the Reform of the State in Industrial Countries written by Mr.Vito Tanzi and published by International Monetary Fund. This book was released on 1995-12 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes the growth of public spending in industrial countries over the past century. It identifies several periods: the periods between 1870 and 1913; the period between the two World Wars; the post World War II period up to 1960; and the period after 1960. Public spending started growing during World War I but its growth accelerated after 1960. The paper outlines the reasons for this growth and speculates that recent government growth has not brought about much economic or social progress. The paper sees the future of government mainly in setting the “rules of the game,” and provides a rough blueprint for reform. It also discusses experiences with government reform in selected count les, and predicts that over the next decades, public spending as a share of GDP will fall.
Book Synopsis How Does Political Instability Affect Economic Growth? by : Mr.Ari Aisen
Download or read book How Does Political Instability Affect Economic Growth? written by Mr.Ari Aisen and published by International Monetary Fund. This book was released on 2011-01-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this paper is to empirically determine the effects of political instability on economic growth. Using the system-GMM estimator for linear dynamic panel data models on a sample covering up to 169 countries, and 5-year periods from 1960 to 2004, we find that higher degrees of political instability are associated with lower growth rates of GDP per capita. Regarding the channels of transmission, we find that political instability adversely affects growth by lowering the rates of productivity growth and, to a smaller degree, physical and human capital accumulation. Finally, economic freedom and ethnic homogeneity are beneficial to growth, while democracy may have a small negative effect.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498344658 Total Pages :257 pages Book Rating :4.4/5 (983 download)
Book Synopsis Fiscal Policy and Long-Term Growth by : International Monetary Fund
Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Book Synopsis The True Size of Government by : Paul C. Light
Download or read book The True Size of Government written by Paul C. Light and published by Brookings Institution Press. This book was released on 2010-12-10 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses a seemingly simple question: Just how many people really work for the federal government? Official counts show a relatively small total of 1.9 million full-time civil servants, as of 1996. But, according to Paul Light, the true head count is nearly nine times higher than the official numbers, with about 17 million people actually providing the government with goods and services. Most are part of what Light calls the "shadow of government"—nonfederal employees working under federal contracts, grants, and mandates to state and local governments. In this book--the first that attempts to establish firm estimates of the shadow work force-- he explores the reasons why the official size of the federal government has remained so small while the shadow of government has grown so large. Light examines the political incentives that make the illusion of a small government so attractive, analyzes the tools used by officials to keep the official headcount small, and reveals how the appearance of smallness affects the management of government and the future of the public service. Finally, he points out ways the federal government can better manage the shadow work force it has built over the past half-century.
