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Reducing the budget deficit is not easy. Keynesian theory suggests thatlowering government expenditures and raising revenues can lead to afalloff in economic activity. This paper argues the neoclassical approach - that a firm and credible reduction in expenditures, by engendering confidence that...
Persistent link: https://www.econbiz.de/10014402764
Many countries have initiated reforms in their monetary control procedures by relaxing direct controls and increasing the role of market processes. The changed approach is often inevitable when countries reform their financial systems in support of growth and adjustment. This is because reform...
Persistent link: https://www.econbiz.de/10014396083
system and private savings in Italy -- Do the elderly dissave in Japan? -- On robust monetary policy -- The euro and the … transmission of monetary policy -- Monetary and fiscal policy in a liquidity trap -- A three-factor yield curve model : non … account -- Land prices and business fixed investment in Japan -- Rationality, behavior and switching idiosyncracies in the …
Persistent link: https://www.econbiz.de/10011851839
This 2013 Article IV Consultation highlights that on the back of new policy framework, growth in Japan accelerated …
Persistent link: https://www.econbiz.de/10011244552
This book highlights the achievements and challenges of the ongoing process of financial integration in Europe. This unique collection will be of great interest to economists and experts in the fields of financial markets and European integration from central, commercial and investment banks,...
Persistent link: https://www.econbiz.de/10011851237
In designing policy measures, including possible social safety nets, targeted to the poor, it is important to fully understand the efficiency implications of these measures. There is abundant macroeconomic literature on their negative effects on the poor’s work effort. The literature, however,...
Persistent link: https://www.econbiz.de/10014396380
-- 6. Financial reform in Hong Kong -- 7. Financial reform in Italy -- 8. Financial reform in Japan -- 9. Financial sector …
Persistent link: https://www.econbiz.de/10012420082
This 2013 Article IV Consultation highlights that real GDP growth in Russia has slowed, amid weak investment and external demand. Yet, the economy remains close to full capacity, with unemployment at historic lows and capacity utilization at pre-crisis highs. Short-term indicators are mixed, but...
Persistent link: https://www.econbiz.de/10011245332
Persistent link: https://www.econbiz.de/10000882741
Persistent link: https://www.econbiz.de/10000045318