Showing 1 - 10 of 26
Japan's high corporate savings might be holding back growth. We focus on the causes and consequences of the current … corporate behavior and suggest options for reform. In particular, Japan's weak corporate governance - as measured by available … comprehensive corporate governance reform should be a key component of Japan's growth strategy …
Persistent link: https://www.econbiz.de/10013048363
Data and anecdotal evidence suggest that Japan is suffering from labor shortages, which are large in an international … focuses on policy options to ease Japan's labor shortages. In particular, we focus on possible measures to increase reliance …
Persistent link: https://www.econbiz.de/10013015603
We use a Global VAR model to study spillovers from the Bank of Japan's quantitative and qualitative easing (QQE) on …
Persistent link: https://www.econbiz.de/10012977736
Using a DSGE model calibrated to the euro area, we analyze the international effects of afiscal devaluation (FD) implemented as a revenue-neutral shift from employer's socialcontributions to the Value Added Tax. We find that a FD in 'Southern European countries' has a strong positive effect on...
Persistent link: https://www.econbiz.de/10013040409
This paper helps resolve a paradox in the literature, noticed by Alesina and Perotti (1995), which is that, although government employment is an important component of public spending, the debate on the effects of fiscal policy focuses almost exclusively on shocks to non-wage government...
Persistent link: https://www.econbiz.de/10013318101
This paper contains a selective review of some of the key fiscal issues faced by transition economies. The twelve countries that provide the empirical background for this study have all been under Fund programmes for at least some of the time since they initiated their transitions from plan to...
Persistent link: https://www.econbiz.de/10005123808
The paper studies an idealized gold standard in a two-country setting. Unless national policies for domestic credit expansion (dce) are flexible enough to offset the effect of money demand shocks on international gold reserves, the gold standard collapses with certainty in finite time through a...
Persistent link: https://www.econbiz.de/10005497804
The paper provides an account of the current global economic situation, outlook and policy options. Medium-term prospects are mediocre and fraught with considerable downside risk. Fiscal and monetary policy options for the main industrial countries to improve global economic performance are...
Persistent link: https://www.econbiz.de/10005791563
global liquidity creation by key central banks and, second, an ex-ante global saving glut, brought about by the entry of a … England’s liquidity management, regulatory failure of the FSA, an inadequate deposit insurance arrangement and deficient …
Persistent link: https://www.econbiz.de/10005791213
In this paper we evaluate internationally agreed limits on public sector debt and deficits, such as those agreed by the EC countries in the Treaty of Maastricht as preconditions for membership in a monetary union. These fiscal convergence criteria require that general government budget deficits...
Persistent link: https://www.econbiz.de/10005123755