The shift to inflation targeting has contributed to the relatively low inflation observed in some emerging market economies although, as noted by many economists, the preconditions required for a successful implementation were not in place. The existence of managed exchange rate regimes, a...

The three countries took different stances in regards to economic policy; the Czech Republic pursued a shock therapy regime which aimed to stabilise the economy, Hungary's policy was more relaxed whilst Poland had an aggressive reform programme. Regarding monetary policy the Czech Republic used...

Die deutsche Wirtschaft ist konsumseitig mit Schwung in das Jahr 2015 gestartet. Zahlreiche Faktoren sorgen aktuell für eine sehr gute Konsumstimmung und eine hohe Dynamik beim Privaten Verbrauch: fallende Energiepreise, extrem niedrige Zinsen, die gute Lage auf dem Arbeitsmarkt sowie einmalige...

As the coronavirus pandemic spread across the globe in early 2020, the European Central Bank as well as national governments in the euro area enacted or announced numerous economic policy measures to counteract the severe economic consequences of the resulting lockdowns. In this paper, the...

This chapter surveys the recent literature on the theory of macroeconomic policy. We study the effect of various incentive constraints on the policy making process, such as lack of credibility, political opportunism, political ideology, and divided government. The survey is organized in three...

This paper surveys the recent literature on the theory of macroeconomic policy. We study the effect of various incentive constraints on the policy making process, such as lack of credibility, political opportunism, political ideology, and divided government. The survey is organized in three...

In this paper it, we have conducted a factor analysis which implied determining the international research directions that have characterized the period following the outbreak of the crisis in 2007 and 2008-2011. In this research, we used secondary data that were extracted from 342 articles,...

This paper uses firm-level data and a news-based measure of economic policy uncertainty to provide empirical evidence that economic policy uncertainty has a negative impact on firm-level investment in South Africa. Firms' investment decisions in response to uncertainty reflect firms'...

In this paper we bring out the performance of the Indian economy, and review the approach of macroeconomic policy especially demand management in the Indian economy. After the shock of the Global Financial Crisis (GFC), India’s economy did not dip much due to the well-directed fiscal stimulus...