Monetary Policy, Fiscal Policies and Labour Markets PDF Download

Author: R. Beetsma
Publisher: Cambridge University Press
ISBN: 9780521041836
Category : Business & Economics
Languages : en
Pages : 396

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Book Description
A survey of fiscal policy, monetary policy and labour markets in the European Monetary Union.

Author: Farrokh K. Langdana
Publisher: Springer Science & Business Media
ISBN: 1475736460
Category : Business & Economics
Languages : en
Pages : 299

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Book Description
This is an applications-oriented text that demystifies the linkages between monetary and fiscal policies and key macroeconomic variables such as income, unemployment, inflation and interest rates. Specially written "newspaper" articles simulate current macroeconomic news on asset-price bubbles, exchange rates, hyperinflation and more. Exercises and diagrams, and a global perspective – incorporating both developed and emerging economies - make this a broadly useful, real-world oriented text on a complex and shifting subject.

Author: Bent Hansen
Publisher: Routledge
ISBN: 1317833511
Category : Business & Economics
Languages : en
Pages : 469

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Book Description
The book explores whether fiscal policies can secure full employment without inflation, one of the key questions in economics after Keynes. Part 1, General Theory of Public Finance and Fiscal Policy, discusses Ends and Means in economic policy. The results of this ends-means analysis are applied to fiscal policy. Part 2, Microeconomics, deals with the impact of fiscal measures on the behaviour of the individual household, firm and other organization, concentrating on the effects on consumption and saving. Part 3, Macroeconomics, considers how the problem of keeping the price-level constant and the labour market in equilibrium at full employment may be solved by means of fiscal and monetary measures. Problems connected with the volume of investments and the balance of payments are considered simultaneously.

Author: Nombulelo Gumata
Publisher: Springer
ISBN: 3319665200
Category : Business & Economics
Languages : en
Pages : 617

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Book Description
This book focuses on the implications of the South African labour market dynamics including labour market reforms and fiscal policy for monetary policy and financial stability. Evidence suggests there are benefits in adopting an approach that coordinates labour market policies and reforms, fiscal policy, price and financial stability. In particular, the benefits of coordinating policies present policymakers with policy options in cases where they are confronted by binding policy trade-offs and dilemmas, such as in cases when there is divergence in price and financial and economic growth outcomes. The empirical insights and policy recommendations are based on different techniques that include the counterfactual and endogenous-exogenous approaches, non-linearities introduced by thresholds and the impact of persistent and transitory shock effects. Themes covered in the book include various aspects of labour market conditions and reforms and their link to inflation and inflation expectations, the impact of the national minimum wage, the interaction between public and private sector wage inflation, economic policy uncertainty and employment, government debt thresholds, sovereign yields and debt ratings downgrades, labour productivity, the impact of inflation regimes on expansionary fiscal and monetary policy multipliers, the increase in government cost of funding on price and financial stability and the link between fiscal policy and credit dynamics.

Author: Philip Arestis
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 232

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Book Description
This book provides a much-needed re-examination of monetary and fiscal policies, their application in the real world and their potential for macroeconomic policy in the 21st century. It provides a detailed discussion and critique of the 'new consensus' in macroeconomics along with the monetary and fiscal policies encapsulated within it. The authors argue that monetary policy is an ineffective means of controlling inflation and, if not used properly, can also have detrimental effects on the supply-side of the economy. They further contend that fiscal policy remains a potent instrument for influencing aggregate demand. Using detailed analysis the authors emphasise the role of capacity constraints as possible inflation barriers and argue against the NAIRU as a labour market phenomenon. The book concludes by critically examining the economic policies of the European Economic and Monetary Union. Written by two of the leading scholars in the field, this provocative new volume is concise, well argued and rich in new insights. It will interest all those concerned with the current problems and future development of monetary and fiscal policy.

Author: Ms.Elva Bova
Publisher: International Monetary Fund
ISBN: 1475565550
Category : Business & Economics
Languages : en
Pages : 27

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Book Description
This paper examines the impact of fiscal policy on employment through the lenses of Okun’s Law. Looking at the panel of OECD countries over the past three decades, we find that fiscal policy can affect employment beyond the impact it is traditionally assumed to exert through the output multiplier. In particular, this impact is found to be effective for most items of current discretionary expenditure and for corporate income taxes and social security contributions. Okun’s Law is found to be stable under almost all model specifications, but higher spending on subsidies and lower social security contributions can amplify the impact of the output gap on employment gaps.

Author: Martin Weale
Publisher: Routledge
ISBN: 1317379438
Category : Business & Economics
Languages : en
Pages : 403

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Book Description
This analysis of macroeconomic policy, originally published in 1989, argues that key government objectives, such as reduced inflation, decreased unemployment and an adequate level of national saving can be achieved only by employing both monetary and fiscal policies, in conjunction with supply-side policies expressly designed to improve the workings of the labour market. Part 1 is a comparative analysis showing the effects of monetary and fiscal policy on the economy. Real-wage rigidity in the labour market is shown to have important consequences for the working of both types of policy, because it conditions the economy’s response to tax changes. Part 2 presents an econometric model which combines consistent stock-flow accounts with a full range of expectational effects. Part 3 presents an innovative technique for solving rational expectations models with the need for arbitary terminal conditions.

Author: International Monetary Fund. Fiscal Affairs Dept.
Publisher: International Monetary Fund
ISBN: 1498340458
Category : Business & Economics
Languages : en
Pages : 70

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Book Description
This paper discusses tax and expenditure policy reforms to raise employment. Using data for 58 advanced and emerging economies, the paper provides a unified assessment of tax and expenditure measures that have usually been addressed separately. The focus is on incentives to increase labor demand and supply rather than on the impact of fiscal policy on employment through aggregate demand effects. It also discusses policies to improve the matching of labor supply and demand, and the principles which should guide the design of country-specific fiscal reforms to boost employment. A comprehensive set of tables on fiscal policies and labor market outturns for advanced and emerging economies is provided, permitting cross-country comparisons to facilitate the design of reform strategies.

Author: Philip Arestis
Publisher: Springer
ISBN: 3319604597
Category : Business & Economics
Languages : en
Pages : 380

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Book Description
This book investigates the changing nature of economic policies following the Global Financial Crisis of 2007–9. Well-respected, international scholars come together to discuss the level of economic growth following the crisis, concerns over inequality in industrialised countries, and labour market policies.

Author: Philipp Huber
Publisher: GRIN Verlag
ISBN: 3346000702
Category : Business & Economics
Languages : en
Pages : 67

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Book Description
Bachelor Thesis from the year 2018 in the subject Economics - Macro-economics, general, grade: 1,3, University of Frankfurt (Main) (House of Finance), language: English, abstract: Many well-known economists argue to achieve a prospering economy; it is crucially important to have an efficient collaboration between a country’s monetary policy, concerning a stable currency and inflation rate, as well as a proper fiscal policy, including structural reforms and governmental spendings. In the backdrop of this opinion, the European Monetary Union (EMU) was established in 1999, in which the monetary policy for several countries is centralised in one institution, the European Central Bank (ECB). This is a massive achievement, as for most of Europe’s history, it has been at war with itself, which did not foster any trade or other kinds of economic co-operation. Europe was always a continent of trade barriers, tariffs and different currencies. Therefore, doing business across borders was always highly sluggish, and in the light of all these obstacles, it tended to stifle economic growth. After World War II has left Europe in a devastating condition, the natural choice to rebuild the continent was to remove these ancient barriers. By implementing the Euro in 1999, this went even a step further. Domestic currencies ended to exist as well as the very individual monetary policies. In consequence the national central banks shifted the control to the newly formed ECB. The Eurozone had now one unified monetary policy, but still many different fiscal policies in the respective member states. Before the Euro was born, countries like Greece or Italy not only had to pay high interest rates to borrow money, they also could only lend a limited amount, as lenders were not comfortable providing them too many credits. However, as they became members of the European Monetary Union, the tables turned, because big security providers, like Germany, were now part of it.