Showing 1 - 10 of 449
This paper computes the fiscal stance in a small open economy and asses its position to relevant macroeconomic variables in order to protect the macroeconomic stability and promote development. Since 2006 change in income and tax structure shifts the implementation of fiscal policy, increasing...
Persistent link: https://www.econbiz.de/10011258610
The objective of the paper is to define the trajectory of economic institutional reforms in Russia as a framework of S&T policies. The methodology of this research is based upon the institutional matrices theory (Кирдина, 2001; Kirdina, 2003). The hypothesis claims that the “institutional...
Persistent link: https://www.econbiz.de/10008574270
Monetarists maintain that changes in the price level are attributable to the level of the money supply. Hence, price stability has been the rationale for the money supply rule derived from the Quantity Theory of Money. Consequently, to curb inflation, the general price level index is the lever...
Persistent link: https://www.econbiz.de/10005789682
This paper presents three modified versions of the simple AK endogenous growth model. Such frameworks stress the role of consumers’ sentiment, the impact of fiscal policy and the effect of non-optimal investment decisions made by firms. In all the cases, today’s decisions take into...
Persistent link: https://www.econbiz.de/10005790162
This paper represents a neoclassical model that explains the observed empirical relationship between government spending and world commodity supplies and the real exchange rate and real commodity prices. It is shown that fiscal expansion and increasing world commodity supplies simultaneously...
Persistent link: https://www.econbiz.de/10005790259
This paper presents a macroeconomic model with some microfoundations for a small open economy. The main purpose is the simulation of external environment and fiscal policy shocks. The model includes sufficiently disaggregated public sector and household disposable income accounts and it...
Persistent link: https://www.econbiz.de/10005835404
Recent academic and popular discussions of budget deficits rely upon a simplistic and, in large part, false conception of their effects. The recent literature ignores the fact that deficit effects depend on their source and on private sector responses to them. It also matters whether budget...
Persistent link: https://www.econbiz.de/10005835437
The aim of this paper is to evaluate the robustness of the theory that claims restrictive effects of expansionary fiscal policy. It shows that such so-called “non-Keynesian effects” may arise from synchronous and opposite monetary policy interventions. The paper demonstrates this conclusion...
Persistent link: https://www.econbiz.de/10005835899
This paper investigates the implications of alternative scale variables of money demand for the comparison of a flexible exchange rate regime with a monetary union in a New Open Economy Macroeconomics setup. The welfare evaluation of exchange rate regimes esstentially depends on the exchange...
Persistent link: https://www.econbiz.de/10005835956
Many people pay attention to media reports of the US stock market’s performance. Using a data-based thought experiment, we cast the market’s recent highs and lows in an unusually unattractive light. The result matters because the economic and political factors that make it relevant are...
Persistent link: https://www.econbiz.de/10005836479