Limits Of Fiscal Monetary And Trade Policies The International Comparisons And Solutions

Limits Of Fiscal  Monetary  And Trade Policies  The  International Comparisons And Solutions PDF
Author: Leightner Jonathan Edward
Publisher: World Scientific
ISBN: 981457189X
Size: 45.90 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 304
View: 7709

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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.

The Limits Of Fiscal Monetary And Trade Policies

The Limits of Fiscal  Monetary  and Trade Policies PDF
Author: Jonathan Edward Leightner
Publisher:
ISBN: 9789814571883
Size: 28.70 MB
Format: PDF, ePub, Mobi
Category : BUSINESS & ECONOMICS
Languages : en
Pages : 304
View: 1904

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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.

The Limits Of Fiscal Monetary And Trade Policies

The Limits of Fiscal  Monetary  and Trade Policies PDF
Author: Jonathan Edward Leightner
Publisher: World Scientific Publishing Company Incorporated
ISBN: 9789814571876
Size: 50.49 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 283
View: 2246

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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.

Exploring Social Inequality In The 21st Century

Exploring Social Inequality in the 21st Century PDF
Author: Jennifer Jarman
Publisher: Routledge
ISBN: 1351609386
Size: 78.98 MB
Format: PDF
Category : Social Science
Languages : en
Pages : 186
View: 6866

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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.

Ethics Efficiency And Macroeconomics In China

Ethics  Efficiency and Macroeconomics in China PDF
Author: Jonathan Leightner
Publisher: Taylor & Francis
ISBN: 1351805835
Size: 48.24 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 216
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This book tells the story of how China’s leaders, from Mao to Xi, have sacrificed ethics to promote either macroeconomic performance or microeconomic efficiency. This story includes Mao’s collectivization of land, the Great Leap Forward, the Great Cultural Revolution, Deng’s opening China to international trade, Tiananmen Square, the freeing of prices, food and medicine scandals, the 2015 surge and collapse of the Chinese stock market, the falling of China’s foreign reserves, and so on. In 2008, China’s leaders correctly identified the best strategy as a "consumption-driven growth strategy" because the current world is suffering from a glut of savings. However, for that strategy to work, the Chinese need to be able to trust China’s economy and leaders. In the absence of trust, people will make decisions based on extremely short time frames which will hurt China’s long-run potential and continue to generate a series of speculative bubbles. In the absence of trust, wealthy Chinese will continue to move their assets abroad, putting tremendous downward pressure on the Chinese yuan. The Chinese will develop a long-run perspective and invest in China only when they can trust China’s future. In today’s world, trust is necessary. Trust is built on ethics.

Standards Conformity Assessment And Trade

Standards  Conformity Assessment  and Trade PDF
Author: International Standards, Conformity Assessment, and U.S. Trade Policy Project Committee
Publisher: National Academies Press
ISBN: 0309587883
Size: 43.85 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 231
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Mandated standards used for vehicle airbags, International Organization for Standards (ISO) standards adopted for photographic film, de facto standards for computer software--however they arise, standards play a fundamental role in the global marketplace. Standards, Conformity Assessment, and Trade provides a comprehensive, up-to-date analysis of the link between standards, product testing and certification, and U.S. economic performance. The book includes recommendations for streamlining standards development, increasing the efficiency of product testing and certification, and promoting the success of U.S. exports in world markets. The volume offers a critical examination of organizations involved in standards and identifies the urgent improvements needed in the U.S. system for conformity assessment, in which adherence to standards is assessed and certified. Among other key issues, the book explores the role of government regulation, laboratory accreditation, and the overlapping of multiple quality standards in product development and manufacturing. In one of the first treatments of this subject, Standards, Conformity Assessment, and Trade offers a unique and highly valuable analysis of the impact of standards and conformity assessment on global trade.

Following The Money

Following the Money PDF
Author: National Research Council
Publisher: National Academies Press
ISBN: 9780309176903
Size: 61.74 MB
Format: PDF, ePub, Docs
Category : Political Science
Languages : en
Pages : 224
View: 7337

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Many questions have been raised about America's status in the increasingly interconnected global economy. Yet key facts--such as the amount of foreign assets abroad owned by U.S. citizens--are not known. The crucial data needed to assess the U.S. position are unavailable. This volume explores significant shortcomings in U.S. data on international capital transactions and their implications for policymakers. The volume offers clearcut recommendations for U.S. agencies to bring data collection and analyses of the global economy into the twenty-first century. The volume explores How factors emerging since the early 1980s have shaped world financial markets and revealed shortcomings in data collection and analysis. How the existing U.S. data system works and where it fails how measurements of international financial transactions are recorded; and how swaps, options, and futures present special reporting problems. How alternative methods, such as collecting data, from sources such as global custodians and international clearinghouses, might improve coverage and accuracy.

Fiscal Policy And Long Term Growth

Fiscal Policy and Long Term Growth PDF
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344658
Size: 20.50 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 256
View: 6153

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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.

Global Economic Turmoil And The Public Good

Global Economic Turmoil and the Public Good PDF
Author: Steven Rosefielde
Publisher: World Scientific
ISBN: 9814590525
Size: 59.61 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 224
View: 5012

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The global financial crisis of 2008 was resolved over the course of two years after the collapse of the US housing bubble, but the world economy did not vigorously rebound as expected. The West has been torpid, while Asian economic vitality has steadily waned. These developments have been diversely interpreted and authorities have responded with a series of institutional reforms and policy fixes, without coming to grips with accumulating national debts, the kinds of speculative practices that caused the financial crisis, and the inadequacies of neoclassical and Keynesian macroeconomic explanations. Global Economic Turmoil and the Public Good presents the cumulative research of both authors. It updates the readers on global economic developments since 2008, while providing a concise, yet comprehensive survey of the causes and protracted consequences of the 2008 financial crisis. The book explains the global financial disequilibrium and catastrophic crisis risks; surveys and appraises institutional reforms designed to reinvigorate growth and ameliorate financial crisis risk; and proposes specific actions which will prevent another global financial crisis and its economic fallout. Contents:Global Economic Turmoil:Playing with FireIgnoring Today's DangersInsider DemocracySqueezing the Middle ClassLiberalization for the PrivilegedEast–West PolarizationDegeneration, Crisis and DisorderObstacles to Crisis Prevention:Words Instead of ActionTreadmill of RegulationMacroeconomic MiasmaDogmatismPipe DreamsDoublethinkFramework for Sustainable Prosperity:The Importance of Inclusive Economic TheoryBreaking Vicious CyclesLesser EvilProspects Readership: General public, students (undergraduates and postgraduates), policymakers and professionals interested in understanding the 2008 financial crisis and how to prevent future ones. Key Features:Adds value by crystalizing the epochal significance of the crisis (global sclerosis)Examines the largely overlooked causes of “ideocracy”, “politicracy” and supranationality, offering a fresh explanation of the causes of post-2008 global economic sclerosisParses new developments in macroeconomic theory intended both to explain the post-crisis economic sclerosis and assess future financial crisis riskIncorporates these novel factors in a new inclusive economic theoryKeywords:Global Economic Crisis;Global Financial Crisis;Crisis Prevention;Global Economic Sclerosis;European Union;Monetary Union;Fiscal Union;United States;China;India;Japan;Monetary Policy;Keynesianism;Central Banking;Fiscal Policy

World Economic Situation And Prospects 2020

World Economic Situation and Prospects 2020 PDF
Author: United Nations
Publisher: United Nations
ISBN: 921358329X
Size: 66.37 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 236
View: 2050

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This is the United Nations definitive report on the state of the world economy, providing global and regional economic outlook for 2020 and 2021. Produced by the Department of Economic and Social Affairs, the five United Nations regional commissions, the United Nations Conference on Trade and Development, with contributions from the UN World Tourism Organization and other intergovernmental agencies.

The General Theory Of Employment Interest And Money

The General Theory of Employment  Interest  and Money PDF
Author: John Maynard Keynes
Publisher: GENERAL PRESS
ISBN: 9389440629
Size: 45.60 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 380
View: 3582

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The General Theory of Employment, Interest, and Money, written by legendary author John Maynard Keynes is widely considered to be one of the top 100 greatest books of all time. This masterpiece was published right after the Great Depression. It sought to bring about a revolution, commonly referred to as the ‘Keynesian Revolution’, in the way economists thought—especially challenging the proposition that a market economy tends naturally to restore itself to full employment on its own. Regarded widely as the cornerstone of Keynesian thought, this book challenged the established classical economics and introduced new concepts. ‘The General Theory of Employment, Interest, and Money’ transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned.

The Effectiveness Of Fiscal Policy In Stimulating Economic Activity A Review Of The Literature

The Effectiveness of Fiscal Policy in Stimulating Economic Activity  A Review of the Literature PDF
Author: Selma Mahfouz
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451874716
Size: 27.19 MB
Format: PDF, ePub, Mobi
Category :
Languages : en
Pages : 52
View: 6743

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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.

Guidelines For Public Expenditure Management

Guidelines for Public Expenditure Management PDF
Author: Mr.Jack Diamond
Publisher: International Monetary Fund
ISBN: 9781557757876
Size: 69.85 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 77
View: 5140

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Traditionally, economics training in public finances has focused more on tax than public expenditure issues, and within expenditure, more on policy considerations than the more mundane matters of public expenditure management. For many years, the IMF's Public Expenditure Management Division has answered specific questions raised by fiscal economists on such missions. Based on this experience, these guidelines arose from the need to provide a general overview of the principles and practices observed in three key aspects of public expenditure management: budget preparation, budget execution, and cash planning. For each aspect of public expenditure management, the guidelines identify separately the differing practices in four groups of countries - the francophone systems, the Commonwealth systems, Latin America, and those in the transition economies. Edited by Barry H. Potter and Jack Diamond, this publication is intended for a general fiscal, or a general budget, advisor interested in the macroeconomic dimension of public expenditure management.

The Eurozone Crisis

The Eurozone Crisis PDF
Author: Richard E. Baldwin
Publisher:
ISBN: 9781907142932
Size: 51.77 MB
Format: PDF, Docs
Category :
Languages : en
Pages :
View: 179

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World Economic Outlook October 2016

World Economic Outlook  October 2016 PDF
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1475539819
Size: 29.22 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 288
View: 7360

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According to the October 2016 "World Economic Outlook," global growth is projected to slow to 3.1 percent in 2016 before recovering to 3.4 percent in 2017. The forecast, revised down by 0.1 percentage point for 2016 and 2017 relative to April’s report, reflects a more subdued outlook for advanced economies following the June U.K. vote in favor of leaving the European Union (Brexit) and weaker-than-expected growth in the United States. These developments have put further downward pressure on global interest rates, as monetary policy is now expected to remain accommodative for longer. Although the market reaction to the Brexit shock was reassuringly orderly, the ultimate impact remains very unclear, as the fate of institutional and trade arrangements between the United Kingdom and the European Union is uncertain. Financial market sentiment toward emerging market economies has improved with expectations of lower interest rates in advanced economies, reduced concern about China’s near-term prospects following policy support to growth, and some firming of commodity prices. But prospects differ sharply across countries and regions, with emerging Asia in general and India in particular showing robust growth and sub-Saharan Africa experiencing a sharp slowdown. In advanced economies, a subdued outlook subject to sizable uncertainty and downside risks may fuel further political discontent, with anti-integration policy platforms gaining more traction. Several emerging market and developing economies still face daunting policy challenges in adjusting to weaker commodity prices. These worrisome prospects make the need for a broad-based policy response to raise growth and manage vulnerabilities more urgent than ever.

Policy Framework For Investment

Policy Framework for Investment PDF
Author: OECD
Publisher: OECD Publishing
ISBN: 9264018476
Size: 35.81 MB
Format: PDF, ePub, Docs
Category :
Languages : en
Pages : 60
View: 1580

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Drawing on good practices from OECD and non-OECD countries, the Framework proposes a set of questions for governments to consider in ten policy fields as critically important for the quality of a country’s environment for investment.

The European Union

The European Union PDF
Author: Kristin Archick
Publisher:
ISBN:
Size: 61.51 MB
Format: PDF, ePub, Mobi
Category :
Languages : en
Pages : 26
View: 6729

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The European Union (EU) is a political and economic partnership that represents a unique form of cooperation among sovereign countries. The EU is the latest stage in a process of integration begun after World War II, initially by six Western European countries, to foster interdependence and make another war in Europe unthinkable. The EU currently consists of 27 member states, including most of the countries of Central and Eastern Europe, and has helped to promote peace, stability, and economic prosperity throughout the European continent.This report serves as a primer on the EU. It also discusses U.S.-EU relations

Economics

Economics PDF
Author: Richard G. Lipsey
Publisher: Oxford University Press, USA
ISBN: 9780199286416
Size: 78.86 MB
Format: PDF
Category : Economics
Languages : en
Pages : 665
View: 2585

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The eleventh edition of this successful textbook for Economics majors has been thoroughly updated and revised to give more depth to core principles. Pitched at a level that will stretch readers but still comprehensible for beginners, Economics is explained in a straightforward manner, whilst maintaining the rigour needed to enable students to progress with their studies. The book features a depth and breadth of topics combined with a balance of technical and applied material. In-depth explanations of theoretical concepts are balanced with a range of real world examples help students to understand and apply the concepts they have learnt. A supporting and newly expanded Online Resource Centre features supplements for lecturers including an instructor's manual; PowerPoint slides; answers to questions in the text; class exercises; and artwork from the text. Supplements for students include self-assessment multiple choice questions with feedback; crosswords compiled from key glossary terms; a list of useful websites; maths appendices; past exam papers and additional case studies