Limits Of Fiscal, Monetary, And Trade Policies, The: International Comparisons And Solutions PDF Download

Author: Jonathan Edward Leightner
Publisher: World Scientific
ISBN: 981457189X
Category : Business & Economics
Languages : en
Pages : 304

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Book Description
Sixteen countries across the world — including the United States and many European nations — have fallen into economic crises since the late 1990s. In The Limits of Fiscal, Monetary, and Trade Policies: International Comparisons and Solutions, Jonathan E Leightner convincingly argues that the fundamental cause of the global malaise is a surplus of savings. He provides compelling evidence (via statistical estimates) that fiscal, monetary, and trade policies cannot solve the resulting problems since their effectiveness has plummeted. Leightner also shows that the solution to the current global economic woes is a “consumption driven growth model” (which China advocates but has yet to fully implement) because when there is insufficient consumption, excess savings will remain idle, seek a return from rent or deception, or fund speculative bubbles.

Author: Jonathan Edward Leightner
Publisher: World Scientific Publishing Company Incorporated
ISBN: 9789814571876
Category : Business & Economics
Languages : en
Pages : 283

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Book Description
With many countries facing high unemployment rates, uncertain futures, and inadequate incomes, nobody can deny the dire state which the global economy is currently in. Basic economic policies and institutions are now being questioned more than ever since the Great Depression. In The Limits of Fiscal, Monetary, and Trade Policies, Jonathan E Leightner puts forth the argument that the fundamental cause of the current worldwide economic crisis is a surplus in savings. Through the use of Reiterative Truncated Projected Least Squares (RTPLS, a statistical technique that captures the influence of omitted variables), Leightner estimates and observes the declining effectiveness of fiscal, monetary, and trade policies in America, the European Union, the United Kingdom, Japan, Brazil, China, and Russia. From European austerity measures to Chinese consumption-driven growth, Leightner discusses the attempts made by the governments of these countries to address the crisis in detail as well. With such international comparisons, this book provides compelling evidence that the solution to current global economic woes lies in a redistribution of income that will increase consumption and, thereby, provide a reason to productively invest the current global surplus in savings.

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344658
Category : Business & Economics
Languages : en
Pages : 257

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Book Description
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: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451844239
Category : Business & Economics
Languages : en
Pages : 33

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Book Description
Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.

Author: Mr.James Daniel
Publisher: International Monetary Fund
ISBN: 9781589065130
Category : Business & Economics
Languages : en
Pages : 80

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Book Description
The pamphlet (which updates the 1995 Guidelines for Fiscal Adjustment) presents the IMF’s approach to fiscal adjustment, and focuses on the role that sound government finances play in promoting macroeconomic stability and growth. Structured around five practical questions—when to adjust, how to assess the fiscal position, what makes for successful adjustment, how to carry out adjustment, and which institutions can help—it covers topics such as tax policies, debt sustainability, fiscal responsibility laws, and transparency.

Author: Richard Hemming
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 62

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Book Description
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: 0821370855
Category : Business & Economics
Languages : en
Pages : 354

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Book Description
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.

Author: Jonathan Leightner
Publisher: Taylor & Francis
ISBN: 1351805835
Category : Business & Economics
Languages : en
Pages : 217

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Book Description
This book is an invaluable resource to understanding China and its impact on the world. It examines China’s leadership and how China should rebalance its goals by seriously working on the ethics of the society that it is creating. It argues that a more ethical society in which the Chinese masses can trust is a necessary prerequisite for the successful implementation of a consumption driven growth model, a model that China’s leadership has endorsed since 2008. It also puts forth that a more ethical society is a prerequisite for China receiving the international respect that China’s leaders crave.

Author: Jennifer Jarman
Publisher: Routledge
ISBN: 1351609386
Category : Social Science
Languages : en
Pages : 203

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Book Description
In a world where the effects of inequality occupy an increasingly prominent place on the public agenda, this book provides up-to-date and thorough analysis from the perspective of a group of researchers at the forefront of social stratification analysis. Exploring Social Inequality in the 21st Century is a clear and critical overview of current debates about social inequality. It includes new information, tools, and approaches to conceptualising and measuring social stratification and social class, as well as informative case studies. Throughout, the researchers describe the direct and indirect costs of social inequality. Divided into two parts – Conceptualising and Measuring Inequality; and Costs and Consequences of Inequality in the areas of Education, Employment, and Global Wealth – it includes new findings about the growth of wealth inequality in the G20 countries, and a detailed examination of tax policies designed to reduce inequality without affecting economic growth. With substantial contributions to the analysis of inequalities in education, and explanations of the processes and consequences of social and gender-based exclusion, this book is essential reading for anyone interested in understanding contemporary social inequality. This book was originally published as a special issue of the journal Contemporary Social Science.

Author: Board of Governors of the Federal Reserve System
Publisher:
ISBN: 9780894991967
Category : Banks and Banking
Languages : en
Pages : 0

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Book Description
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.