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Author: K. Peren Arin Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This paper investigates the international transmission of fiscal shocks between two closely-linked, open economies. We estimate impulse response functions using a semi-structural vector auto regressive (VAR) model and quarterly data from Australia and New Zealand for the period 1973:3-2008:4. We compare our empirical results with impulse response functions from a calibrated two-country international real business cycle model with habit formation and adjustment costs to investment. We show that a positive shock to Australian government consumption leads to an increase in Australian output initially and then to a decline in the medium term, while the New Zealand output is negatively affected both in the short and medium term. This result is in line with the recent literature that reports beggar-thy-neighbour effect of positive government spending shocks.
Author: K. Peren Arin Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This paper investigates the international transmission of fiscal shocks between two closely-linked, open economies. We estimate impulse response functions using a semi-structural vector auto regressive (VAR) model and quarterly data from Australia and New Zealand for the period 1973:3-2008:4. We compare our empirical results with impulse response functions from a calibrated two-country international real business cycle model with habit formation and adjustment costs to investment. We show that a positive shock to Australian government consumption leads to an increase in Australian output initially and then to a decline in the medium term, while the New Zealand output is negatively affected both in the short and medium term. This result is in line with the recent literature that reports beggar-thy-neighbour effect of positive government spending shocks.
Author: Alfred A. Haug Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Transmission mechanisms are the channels through which monetary policy affects macroeconomic variables, such as GDP and inflation. Differences in transmission mechanisms can generate asymmetric behaviour among currency union partners when they experience shocks. This has the potential to widen existing cyclical variation between members of a currency union. We examine the similarity of transmission mechanisms in New Zealand and Australia and consider the implications this has for a currency union between the two economies. We examine these using the Vector Error Correction methodology. While conclusions using this methodology for New Zealand and Australia remain quite fragile, our analysis nevertheless suggests that the transmission mechanisms in New Zealand and Australia do display many similarities. In particular the adjustments of both GDP and the CPI in response to monetary policy shocks appear to be very similar. However there are some differences in terms of the size of the responses of some of the variables to identical monetary policy shocks. In a currency union with a different exchange rate pattern and with different monetary policy shocks, New Zealand may experience some new challenges.
Author: Great Britain: H.M. Treasury Publisher: ISBN: 9781474122733 Category : Languages : en Pages : 120
Book Description
Print and web pdfs available at https://www.gov.uk/government/publications. Known as the Red Book. Published alongside Office for Budget Responsibility's Economic & Fiscal Outlook July 2015 (Cm. 9088, ISBN 9781474122870). On title page: Return to an order of the House of Commons dated 8 July 2015. Copy of the budget report - July 2015 as laid before the House of Commons by the Chancellor of the Exchequer when opening the Budget Web ISBN=9781474122740
Author: Kenneth J. Singleton Publisher: University of Chicago Press ISBN: 0226760685 Category : Business & Economics Languages : en Pages : 208
Book Description
How has the Bank of Japan (BOJ) helped shape Japan's economic growth during the past two decades? This book comprehensively explores the relations between financial market liberalization and BOJ policies and examines the ways in which these policies promoted economic growth in the 1980s. The authors argue that the structure of Japan's financial markets, particularly restrictions on money-market transactions and the key role of commercial banks in financing corporate investments, allowed the BOJ to influence Japan's economic success. The first two chapters provide the most in-depth English-language discussion of the BOJ's operating procedures and policymaker's views about how BOJ actions affect the Japanese business cycle. Chapter three explores the impact of the BOJ's distinctive window guidance policy on corporate investment, while chapter four looks at how monetary policy affects the term structure of interest rates in Japan. The final two chapters examine the overall effect of monetary policy on real aggregate economic activity. This volume will prove invaluable not only to economists interested in the technical operating procedures of the BOJ, but also to those interested in the Japanese economy and in the operation and outcome of monetary reform in general.
Author: Joannah Luetjens Publisher: ANU Press ISBN: 1760462799 Category : Political Science Languages : en Pages : 551
Book Description
In Australia and New Zealand, many public projects, programs and services perform well. But these cases are consistently underexposed and understudied. We cannot properly ‘see’—let alone recognise and explain—variations in government performance when media, political and academic discourses are saturated with accounts of their shortcomings and failures, but are next to silent on their achievements. Successful Public Policy: Lessons from Australia and New Zealand helps to turn that tide. It aims to reset the agenda for teaching, research and dialogue on public policy performance. This is done through a series of close-up, in-depth and carefully chosen case study accounts of the genesis and evolution of stand-out public policy achievements, across a range of sectors within Australia and New Zealand. Through these accounts, written by experts from both countries, we engage with the conceptual, methodological and theoretical challenges that have plagued extant research seeking to evaluate, explain and design successful public policy. Studies of public policy successes are rare—not just in Australia and New Zealand, but the world over. This book is embedded in a broader project exploring policy successes globally; its companion volume, Great Policy Successes (edited by Paul ‘t Hart and Mallory Compton), is published by Oxford University Press (2019).
Author: Nicole Starosielski Publisher: Duke University Press ISBN: 0822376229 Category : Social Science Languages : en Pages : 469
Book Description
In our "wireless" world it is easy to take the importance of the undersea cable systems for granted, but the stakes of their successful operation are huge, as they are responsible for carrying almost all transoceanic Internet traffic. In The Undersea Network Nicole Starosielski follows these cables from the ocean depths to their landing zones on the sandy beaches of the South Pacific, bringing them to the surface of media scholarship and making visible the materiality of the wired network. In doing so, she charts the cable network's cultural, historical, geographic and environmental dimensions. Starosielski argues that the environments the cables occupy are historical and political realms, where the network and the connections it enables are made possible by the deliberate negotiation and manipulation of technology, culture, politics and geography. Accompanying the book is an interactive digital mapping project, where readers can trace cable routes, view photographs and archival materials, and read stories about the island cable hubs.
Author: K. Peren Arin
Author: K. Peren Arin
Author: Alfred A. Haug
Author: 
Author: Australia. Parliament. House of Representatives
Author: Great Britain: H.M. Treasury
Author: Kenneth J. Singleton
Author: Jane Drake-Brockman
Author: Joannah Luetjens
Author: Tasmania. Lands and Surveys Department
Author: Nicole Starosielski