Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 9781557750099 Category : Business & Economics Languages : en Pages : 56
Book Description
This paper discusses the main features of Spain's recent adjustment effort and assesses its impact on the overall economic situation. It provides a brief historical background on Spain's economic development from 1960 to the early 1980s. The chapter also discusses the authorities' stance on monetary and fiscal policy and examines the role of exchange rate policy in the recovery of the external accounts. The progress in the fiscal area would appear to have been less satisfactory when viewed in terms of the size of the nonfinancial deficit, which over 1982–1986 hovered about 5.5 percent of gross domestic product. The government's medium-term economic strategy is to consolidate the recent gains by maintaining the economy on a path of noninflation growth. Monetary policy is likely to continue to play an active role in this process, as was made clear in early 1987 when the Bank of Spain tightened its stance significantly in response to the buoyancy of domestic demand and the concomitant expansion of private sector credit.
Author: W. Rand Smith Publisher: University of Pittsburgh Press ISBN: 0822971895 Category : Political Science Languages : en Pages : 313
Book Description
The Left's Dirty Job compares the experiences of recent socialist governments in France and Spain, examining how the governments of Francois Mitterrand (1981-1995) and Felipe Gonzalez (1982-1996) provide a key test of whether a leftist approach to industrial restructuring is possible. This study argues that, in fact, both governments's policies generally resembled those of other European governments in their emphasis on market-adapting measures that eliminated thousands of jobs while providing income support for displaced workers. Featuring extensive field work and interviews with over one hundred political, labor, and business leaders, this study is the first systematic comparison of these important socialist governments.
Author: Satosi Watanabe Publisher: Academic Press ISBN: 1483268985 Category : Reference Languages : en Pages : 591
Book Description
Methodologies of Pattern Recognition is a collection of papers that deals with the two approaches to pattern recognition (geometrical and structural), the Robbins-Monro procedures, and the implications of interactive graphic computers for pattern recognition methodology. Some papers describe non-supervised learning in statistical pattern recognition, parallel computation in pattern recognition, and statistical analysis as a tool to make patterns emerge from data. One paper points out the importance of cluster processing in visual perception in which proximate points of similar brightness values form clusters. At higher levels of mental activity humans are efficient in clumping complex items into clusters. Another paper suggests a recognition method which combines versatility and an efficient noise-proofness in dealing with the two main problems in the field of recognition. These difficulties are the presence of a large variety of observed signals and the presence of interference. One paper reports on a possible feature selection for pattern recognition systems employing the minimization of population entropy. Electronic engineers, physicists, physiologists, psychologists, logicians, mathematicians, and philosophers will find great rewards in reading the above collection.
Author: Mr.Joshua E. Greene Publisher: International Monetary Fund ISBN: 9781557752147 Category : Business & Economics Languages : en Pages : 40
Book Description
This paper examines the problems in establishing currency convertibility- and the optimal timing- in formerly planned economies making the transition to market-oriented systems.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 9781557750167 Category : Business & Economics Languages : en Pages : 84
Book Description
This paper describes methodological issues pertaining to measurement of fiscal impact. The fiscal deficit is, under any circumstances, a crude tool for assessing the impact of fiscal policy on the economy. This paper also analyzes various ways in which the conventional definition of the fiscal deficit is affected by high rates of inflation. It has shown that, as the rate of inflation rises, the picture emerging from the conventional measure may, under certain circumstances, become somewhat blurred since the conventional measure may magnify the size of the fiscal adjustment that a country need. In fact, the size of the debt service that compensates bondholders for the reduction in the real value of their assets arising from inflation should be made explicit so as to indicate that part of the deficit whose impact depends mainly on portfolio decisions regarding the public's demand for government bonds, and on the potential effects of these bonds on the monetary and liquidity conditions of the economy.
Author: Wolfgang Hillebrand Publisher: Psychology Press ISBN: 9780714642475 Category : Business & Economics Languages : en Pages : 310
Book Description
This work takes a look at the governance patterns and management concepts adopted in leading OECD countries and advanced developing countries (ADCs) such as Korea.
Author: Ricardo J. Caballero Publisher: MIT Press ISBN: 0262033623 Category : Asset specificity Languages : en Pages : 349
Book Description
A proposal that the notion of specificity -- the idea that factors of production are not interchangeable -- can provide a unified framework to analyze and understand a wide variety of macroeconomic phenomena stemming from the transactional environment and microeconomic restructuring. The core mechanism that drives economic growth in modern market economies is massive microeconomic restructuring and factor reallocation -- the Schumpeterian "creative destruction" by which new technologies replace the old. At the microeconomic level, restructuring is characterized by countless decisions to create and destroy production arrangements. The efficiency of these decisions depends in large part on the existence of sound institutions that provide a proper transactional environment. In this groundbreaking book, Ricardo Caballero proposes a unified framework to analyze and understand a wide variety of macroeconomic phenomena stemming from limitations, especially institutional, that hinder these adjustments. Caballero argues that macroeconomic models need to be made more "structural" in a precise sense and can not be maintained on the assumption that decisions are fully flexible. What is needed, he proposes, is the notion of specificity -- the idea that factors of production are not freely interchangeable. Many of the major macroeconomic developments of recent decades, he argues, fit naturally into this perspective, including the transition problems of Eastern Europe, the heavy weight of labor regulations in Western Europe, the emerging market crises of the 1990s, the prolonged expansion of the U.S. economy, and Japan's stagnation following the collapse of its real estate bubble. After describing the basic arguments of the book and developing models to illustrate two different kinds of specificity (relationship specificity and technological specificity), Caballero analyzes a variety of aspects of inefficient restructuring and revisits perennial business cycle patterns such as the cyclical behavior of unemployment, investment, and wages. Finally, he looks at the endogenous response of political institutions and technology to opportunistic exploitation of relationship specificity. Economists working on macroeconomics, development, growth, labor, and productivity issues will find Caballero's conceptual framework applicable to phenomena in their fields.
Author: Mr.Mario Monti Publisher: International Monetary Fund ISBN: 9781557751188 Category : Business & Economics Languages : en Pages : 300
Book Description
Edited by Mario Monti, this volume contains the proceedings of a seminar that was held in Milan at the Centre for Financial and Monetary Economics, Universitá Luigi Bocconi. Participants included government officials, academicians, and economists; they provide a many-faceted view of fiscal policy at the domestic level and in the broader context of international policy coordination.
Author: Hsiang-Chuan Liu Publisher: CRC Press ISBN: 1315813289 Category : Computers Languages : en Pages : 835
Book Description
This proceedings volume brings together some 189 peer-reviewed papers presented at the International Conference on Information Technology and Computer Application Engineering, held 27-28 August 2013, in Hong Kong, China. Specific topics under consideration include Control, Robotics, and Automation, Information Technology, Intelligent Computing and
Author: International Monetary Fund
Author: A. Lopez-Claros
Author: W. Rand Smith
Author: Satosi Watanabe
Author: Mr.Joshua E. Greene
Author: International Monetary Fund
Author: Wolfgang Hillebrand
Author: Ricardo J. Caballero
Author: Mr.Mario Monti
Author: Hsiang-Chuan Liu