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Author: Ole Ohlson
Publisher: GRIN Verlag
ISBN: 3346655903
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
Bachelor Thesis from the year 2021 in the subject Economics - Monetary theory and policy, grade: 1,3, University of Frankfurt (Main), course: Wirtschaftswissenschaften, language: English, abstract: This thesis aims at giving a broad outlook on fiscal discussions and standpoints concerning crises which might occur and ultimately aims at answering the following question: How can financial authorities shape public spending and what are the steps necessary? – Lessons learned from the global financial crisis of 2008. The Keynesian multiplier process is a concept which was first introduced by Richard Kahn and later on carried further by John Maynard Keynes. This concept was rather simple and very intuitive; if a government increases its spending, the resulting output will increase as well. This became especially relevant in times of crises, when governments were aiming at raising their output. The analysis of how government spending would affect output became omnipresent and there are different standpoints in the literature concerning this, most of them focusing on different aspects, such as the timing of news, spillover effects to other countries, the general environment of the economies and also different model approaches to estimate said multiplier as good as possible and to include as many different determinants as possible.
Author: Ole Ohlson
Publisher: GRIN Verlag
ISBN: 3346655903
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
Bachelor Thesis from the year 2021 in the subject Economics - Monetary theory and policy, grade: 1,3, University of Frankfurt (Main), course: Wirtschaftswissenschaften, language: English, abstract: This thesis aims at giving a broad outlook on fiscal discussions and standpoints concerning crises which might occur and ultimately aims at answering the following question: How can financial authorities shape public spending and what are the steps necessary? – Lessons learned from the global financial crisis of 2008. The Keynesian multiplier process is a concept which was first introduced by Richard Kahn and later on carried further by John Maynard Keynes. This concept was rather simple and very intuitive; if a government increases its spending, the resulting output will increase as well. This became especially relevant in times of crises, when governments were aiming at raising their output. The analysis of how government spending would affect output became omnipresent and there are different standpoints in the literature concerning this, most of them focusing on different aspects, such as the timing of news, spillover effects to other countries, the general environment of the economies and also different model approaches to estimate said multiplier as good as possible and to include as many different determinants as possible.
Author: Richard Hemming
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 62
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Book Description
This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Author: International Monetary Fund. External Relations Dept.
Publisher: International Monetary Fund
ISBN: 1475566980
Category : Business & Economics
Languages : en
Pages : 60
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Book Description
This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world.
Author: John Maynard Keynes
Publisher: Atlantic Publishers & Dist
ISBN: 9788126905911
Category : Business & Economics
Languages : en
Pages : 410
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Book Description
John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning
Author: Mr.Abdul Abiad
Publisher: International Monetary Fund
ISBN: 1484361555
Category : Business & Economics
Languages : en
Pages : 26
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Book Description
This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting output in countries with higher public investment efficiency and when it is financed by issuing debt.
Author: Michael Emerson
Publisher:
ISBN: 9780198773245
Category : Business & Economics
Languages : en
Pages : 356
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Book Description
The European Community is negotiating a new treaty to establish the constitutional foundations of an economic and monetary union in the course of the 1990s. This study provides the only comprehensive guide to the economic implications of economic and monetary union. The work of an economist inside the Commission of the European Community, it reflects the considerations influencing the design of the union. The study creates a unique bridge between the insights of modern economic analysis and the work of the policy makers preparing for economic and monetary union.
Author: Engelbert Stockhammer
Publisher: Springer
ISBN: 1137357932
Category : Business & Economics
Languages : en
Pages : 329
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Book Description
This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.
Author: John B. Taylor
Publisher: University of Chicago Press
ISBN: 0226791262
Category : Business & Economics
Languages : en
Pages : 460
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Book Description
This timely volume presents the latest thinking on the monetary policy rules and seeks to determine just what types of rules and policy guidelines function best. A unique cooperative research effort that allowed contributors to evaluate different policy rules using their own specific approaches, this collection presents their striking findings on the potential response of interest rates to an array of variables, including alterations in the rates of inflation, unemployment, and exchange. Monetary Policy Rules illustrates that simple policy rules are more robust and more efficient than complex rules with multiple variables. A state-of-the-art appraisal of the fundamental issues facing the Federal Reserve Board and other central banks, Monetary Policy Rules is essential reading for economic analysts and policymakers alike.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451844239
Category : Business & Economics
Languages : en
Pages : 33
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Book Description
Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
Author: John Maynard Keynes
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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