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have important implications for macroeconomics in terms of theory and policy. It considers the differences in macroeconomic … laws of economics are universal, the functioning of economies can be markedly different. Therefore, economic theory and … policy analysis should recognize, rather than ignore, such myriad differences. …
Persistent link: https://www.econbiz.de/10010752018
Purpose – The purpose of this paper is to shed some light on the role of macroeconomic policy-mix in achieving the … policy-mixes pursued by many developing countries as part of conditions to receive support from international financial … rise in inequality due to associated policy reforms promoting market liberalization and deregulation. Practical …
Persistent link: https://www.econbiz.de/10009365028
There are two generally accepted ways of plotting the aggregate demand (AD) and aggregate supply (AS) curves in the goods market. One puts the price level on the vertical axis (the P - y approach); the other plots the real interest rate on the vertical axis (the r - y approach). This paper...
Persistent link: https://www.econbiz.de/10005417289
Fiscal positions of African countries have improved significantly during the past decade. Higher economic growth, better terms of trade, improved donor support notably through debt relief and better control of expenditure contributed to this improvement. But at the same time government revenue...
Persistent link: https://www.econbiz.de/10010957499
Fiscal positions of African countries have improved significantly during the past decade. Higher economic growth, better terms of trade, improved donor support notably through debt relief and better control of expenditure contributed to this improvement. But at the same time government revenue...
Persistent link: https://www.econbiz.de/10010718528
This paper outlines a 15-year program for implementing the 2015 Human Development targets while resolving fully the debt overhang problem for a set of 49 poor countries. The proposal requires additional contributions from 23 rich countries amounting to 0.1 of 1% of their GDP over each of the 15...
Persistent link: https://www.econbiz.de/10005634032
This article discusses full employment policies in their general and theoretical terms and assesses their possibility of application in Italy. Firstly Vito examines the arguments provided by neoclassical theory against full employment policies. Secondly Vito examines the causes of unemployment...
Persistent link: https://www.econbiz.de/10010786923
monetary policy in the development countries. In modern capitalist economies, more than ever, money should be viewed as an …
Persistent link: https://www.econbiz.de/10005014734
Analytical and numerical results show how the presence of a subsidy on household and firm purchases of oil products distorts long-run macroeconomic aggregates in an oil-importing developing country. Beyond leading to over-consumption of oil products these subsidies also lead to increased labor...
Persistent link: https://www.econbiz.de/10009323926
We analyze fiscal policy procyclicality in resource-rich countries. We obtain a strong U-shaped relationship between …
Persistent link: https://www.econbiz.de/10010842932