The Growth of the Public Sector and Inflation PDF Download

Author: Alan T. Peacock
Publisher:
ISBN:
Category :
Languages : en
Pages : 20

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Author: Mukesh Kumar Solanki
Publisher: Allied Publishers
ISBN: 8184249764
Category : Economic development
Languages : en
Pages : 134

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Book Description
The book “Public Expenditure, Economic Growth and Inflation” addresses the most relevant issue of inflation in Indian economy. It makes an interesting reading as it attempts to establish the relationship among three macro-economic indicators, i.e., public expenditure, economic growth and inflation. The book gives an overview of the increasing public expenditure and its composition throughout the years after independence. Based on the secondary data the study makes a sincere effort to establish the possible relationship between public expenditure, inflation and economic growth. The book finds out that the Wagner law of increasing state activity is applicable in India both in absolute and relative terms. Economic Growth and public expenditure are positively correlated. Economic growth and inflation are inversely related. As public expenditure is motivated by maximization of social welfare, reduction in public expenditure means to sacrifice the social welfare objective.

Author: Michael Howard
Publisher:
ISBN: 9789766400910
Category : Business & Economics
Languages : en
Pages : 340

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A discussion of the impact of government revenues and expenditures on economic activity, with special reference to developing countries. Michael Howard raises theoretical and empirical issues relating to the role of the public sector in economic development.

Author: R. F. Elliott
Publisher: London : Macmillan
ISBN:
Category : Political Science
Languages : en
Pages : 208

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Book Description
Monograph on public sector wage structure trends and wage determination issues in the UK - discusses public expenditure and employment growth, collective bargaining, trade unionism, declining resort to arbitration, manual worker and nonmanual worker wage differentials, impact of incomes policies, etc., provides comparisons with the private sector, and includes civil servant and public servant wages. Graphs and references.

Author: Tapio Palokangas
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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This paper analyses the role of inflation in economies with endogenous growth and congestion in public services. Optimal policy rules are derived for public services and investment. The other findings are as follows. Monetary policy should maximize economic growth. The more inefficient the public sector is, the higher the growth-maximizing inflation rate is. If a currency union accepts a new member with an inefficient public sector, this will boost inflation in the union and decrease growth and welfare in all member economies of the union.

Author: Attiat F. Ott
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 306

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In the 21st century, the public sector in the nation state has lost some of its insular structure. Its decision-making power has been subjugated to the forces of political and economic liberalism that are sweeping the global economy. This volume provides a framework for the study of spillovers of the global economy on the functioning of the public sector in the nation state. The first part gives an overview of what constitutes the global economy and analyzes the changing role of the public sector in the nation state in the face of global and regional spillovers. The second examines models of public sector behavior - from traditional to leviathan - in light of changes in the world economy. The 'club' arrangement as a global government is offered as an example for governance in the 21st century. In this book, Attiat Ott: incorporates theory and empirical models of the public economy and offers tests of the traditional and Leviathan models of public sector behavio explores the implications of global spillovers on the capacity of the nation state's public sector to address local needs addresses the question many governments of the future will be asking, 'Can we go it alone', that is, whether they need to belong to a 'world club' to best serve their citizens, and deals with a critical concept of governance in the 21st century, the perceived infringement on the powers of governments in the nation states by international agencies and world clubs such as the G-7. Scholars and students of political economy and public finance will find his book a valuable addition to their collections.

Author: Jongrim Ha
Publisher: World Bank Publications
ISBN: 1464813760
Category : Business & Economics
Languages : en
Pages : 513

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This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.

Author: Michael D. Bordo
Publisher: University of Chicago Press
ISBN: 0226066959
Category : Business & Economics
Languages : en
Pages : 545

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Book Description
Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.

Author: Peter J. N. Sinclair
Publisher: Routledge
ISBN: 1135179778
Category : Business & Economics
Languages : en
Pages : 402

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Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.

Author: John H. Hotson
Publisher:
ISBN:
Category : Government spending policy
Languages : en
Pages : 52

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