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Author: Václav Žďárek
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Václav Žďárek
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Vaclav Zdarek
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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In this paper, we present evidence on the statistical features of observed dispersion in inflation rates in the Euro area. Our descriptive exercise shows that there is still a remarkable dispersion of HICP inflation rates and most of dispersion originates in the non-traded categories of the HICP. We examine the determinants of inflation differentials in a panel of the states of the Euro area in 1999-2007. The evidence shows that output gaps and a proxy for price level convergence were statistically significant; some determinants that were found significant in previous studies did not have impact on inflation (e.g. exchange rate).
Author: Cristina Checherita-Westphal
Publisher:
ISBN: 9789289955164
Category :
Languages : en
Pages : 0
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This paper provides a comprehensive empirical analysis of the role of discretionary fiscal policy for inflation differentials across the 19 euro area countries over the period 1999-2019. The results confirm existing (older) literature that it is difficult to find robust evidence of the fiscal policy stance or impulse impacting directly on inflation differentials. We do find, however, support for an indirect effect of discretionary fiscal policy on inflation differentials working through the output gap channel. There is also some evidence that fiscal policy may be especially potent in influencing inflation differentials - with fiscal tightening cooling (and fiscal expansion increasing) inflation pressures - when the economy is above its potential. Finally, going from the overall fiscal stance or impulse to individual fiscal instruments, we find that value added tax (VAT) rate changes and public wage growth are statistically significant determinants of inflation differentials in our sample.
Author: Inaki Aldasoro
Publisher: International Monetary Fund
ISBN: 1498384366
Category : Business & Economics
Languages : en
Pages : 39
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Book Description
Delegating fiscal decision making power to sub-national governments has been an area of interest for both academics and policymakers given the expectation that it may lead to better and more efficient provision of public goods and services. Decentralization has, however, often occurred on the expenditure and less on the revenue side, creating “vertical fiscal imbalances” where sub-national governments’ expenditures are not financed through their own revenues. The mismatch between own revenues and expenditures may have consequences for public finance performance. This study constructs a large sample of general and subnational level fiscal data beginning in 1980 from the IMF’s Government Finance Statistics Yearbook. Extending the literature to the balance sheet approach, this paper examines the effects of vertical fiscal imbalances on government debt. The results indicate that vertical fiscal imbalances are relevant in explaining government debt accumulation suggesting a degree of caution when promoting fiscal decentralization. This paper also underlines the role of data covering the general government and its subectors for comprehensive analysis of fiscal performance.
Author: Global 2000 Study (U.S.)
Publisher:
ISBN:
Category : Economic forecasting
Languages : en
Pages : 824
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Book Description
Report on world trends and long term prospects regarding population growth, natural resources and environmental issues - emphasizing the interrelationships between these areas, presents integrated approach projections to the year 2000 of fishery resources, forests, power resources, water resources, mineral resources, agriculture, climate and nuclear energy, etc., And includes a comparison of global model forecasting techniques. Diagrams, graphs, maps, references and statistical tables.
Author: Otmar Issing
Publisher: Cambridge University Press
ISBN: 1139473573
Category : Business & Economics
Languages : en
Pages : 260
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Book Description
Today, 318 million people in 15 countries use the Euro, which now rivals the importance of the US Dollar in the world economy. This is an outcome that few would have predicted with confidence when the Euro was launched. How can we explain this success and what are the prospects for the future? There is nobody better placed to answer these questions than Otmar Issing, who as a founding member of the Executive Board of the European Central Bank (1998–2006), was one of the Euro's principal architects. His story is a unique insider account, combining personal memoir with reference to the academic and policy literature. Free of jargon, this is a very human reflection on a unique historical experiment and a key reference for all academics, policy makers, and 'Eurowatchers' seeking to understand how the Euro has got to where it is today and what challenges lie ahead.
Author: Tony Vinson
Publisher:
ISBN: 9780957780354
Category : Australia
Languages : en
Pages : 110
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Book Description
The report, carried out by Professor Tony Vinson for Jesuit Social Services and Catholic Social Services Australia, finds that pockets of concentrated and severe social disadvantage have become entrenched across rural and remote as well as suburban Australia.
Author: Doyle Brunson
Publisher: Cardoza Publishing
ISBN: 1580424759
Category : Games & Activities
Languages : en
Pages : 418
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Book Description
This classic book is considered by the pros to be the best book ever written on poker! Jam-packed with advanced strategies, theories, tactics and money-making techniques no serious poker player can afford to be without this hard-hitting information. Includes fifty pages of the most precise poker statistics ever published. Features chapters written by pokers biggest superstars, such as Dave Sklansky, Mike Caro, Chip Reese, Bobby Baldwin, and Doyle two world champions and three master theorists. Essential strategies, advanced play, and no-nonsense winning advice on making money at 7-card stud (razz, high-low split, cards speak, and declare), draw poker, lowball, and hold'em (limit and no-limit).This is a must-read. 605 pages
Author: Sandra Eickmeier
Publisher:
ISBN:
Category : International finance
Languages : en
Pages : 42
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Author: Ruchir Agarwal
Publisher: International Monetary Fund
ISBN: 1513536915
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
There has been much discussion about eliminating the “zero lower bound” by eliminating paper currency. But such a radical and difficult approach as eliminating paper currency is not necessary. Much as during the Great Depression—when countries were able to revive their economies by going off the gold standard—all that is needed to empower monetary policy to cut interest rates as much as needed for economic stimulus now is to change from a paper standard to an electronic money standard, and to be willing to have paper currency go away from par. This paper develops the idea further and shows how such a mechanism can be implemented in a minimalist way by using a time-varying paper currency deposit fee between private banks and the central bank. This allows the central bank to create a crawling-peg exchange rate between paper currency and electronic money; the paper currency interest rate can be either lowered below zero or raised above zero. Such an ability to vary the paper currency interest rate along with other key interest rates, makes it possible to stimulate investment and net exports as much as needed to revive the economy, even when inflation, interest rates, and economic activity are quite low, as they are currently in many countries. The paper also examines different options available to the central bank to return to par when negative interest rates are no longer needed, and the associated implications for the financial sector and debt contracts. Finally, the paper discusses various legal, political, and economic challenges of putting in place such a framework and how policymakers could address them.
