sectors fiscal policy and the social contract

... together in the combination known as the policy mix The Policy Mix and German Unification Monetary versus Fiscal Policy • Complete crowding out – Expansionary fiscal policy does not lead to a rise ... increases the interest rate and crowds out investment spending and net exports • The less interest-sensitive money demand is, the more effective monetary policy is relative to fiscal policy Effectiveness ... to the left until it reaches Yn (long-run monetary neutrality) • Neither monetary nor fiscal policy affects output in the long run The ISLM in the Long Run Deriving the AD Curve Shifts in the...

Ngày tải lên: 05/01/2014, 17:00

... both fiscal policy and country risk-premium are independent of the state of the economy This version is the benchmark case In the second experiment we consider the case of independent fiscal policy, ... most of the countries showing high growth, solid fiscal stances, and sustainable debt levels Now, with the end of the commodity super-cycle, these countries are facing fiscal pressures and their ... non-performing loans in banks, and considerable fiscal strain They are now the ones who stand to benefit the most from the current state of affairs as oil prices remain low and the main sources of tourism-related...

Ngày tải lên: 23/04/2016, 04:50

... genes and the social environment Understanding their implications and the new biology they describe are key goals for the behavioural sciences and for psychiatry Devising testable hypotheses ... gene–gene and gene–environment interactions in schizophrenia and other disorders One serious issue in these studies will be the specificity of the genetic and environmental risks The search for candidate ... Genes and the social environment In the first study, the authors questioned why some children who are maltreated grow up to develop antisocial behaviour while others not Abnormalities in the gene...

Ngày tải lên: 01/11/2013, 09:20

... have to go on is the disorder as defined, the phenomena, not the noumena In other words, it is the strange beliefs, the hallucinations, and their contents, that we have to explain There has long ... about the self and others, and emotional disturbance, all of which interact with (and sometimes originate from) the social contexts that individuals find themselves in We will consider these ... schizophrenia is the heritability of positive symptoms, since it is from these that the condition is identified The potential association of 225 Cognition, emotion and the social world the Val/Val...

Ngày tải lên: 01/11/2013, 09:20

... both today and in the future (the economic and technological dimension); • The need to prepare the United States, its allies, and other friends to fight future wars as coalitions (the political-military ... defense-related trade and technology transfers and FOCI over key sectors of the U.S industrial base Our reading of the literature indicates that both the Office of the Secretary of Defense (OSD) and the Air ... Defense for Acquisition, Technology, and Logistics and current Director of the Center for Public Policy and Private Enterprise at the University of Maryland; and RAND Senior Economist Lloyd Dixon...

Ngày tải lên: 17/02/2014, 11:20

... the stability of the euro area and, therefore, not least for the monetary policy of the European Central Bank Jürgen Stark Member of the Executive Board and the Governing Council of the ECB There ... processes and their economic impact adjusts automatically to the cycle Given the size of the public sector, their stabilising impact on the economy is relatively large in the euro area Girouard and André ... due to the stabilisation measures At the country level, Belgium, Ireland, Luxembourg and the Netherlands witnessed the most noticeable increases in government debt by 6.4%, 6.7%, 6.6% and 11.3%...

Ngày tải lên: 06/03/2014, 09:22

Ngày tải lên: 06/03/2014, 15:20

Ngày tải lên: 07/03/2014, 02:20

... of Class 3 also benefit from ultra easy monetary policy1 28. Overall, however, they suffer the most because their net wealth is very low, their access to further credit disappears, and they  are the most liable to lose their jobs in the downturn. Ironically, if Rajan’s thesis is correct, the ...  Such concerns have been expressed in the various country reviews organized by the Economic and Development  Review Committee of the OECD. Australia, New Zealand, Canada, the Scandinavian countries and a number of  others all seem to be exposed in this regard.   ... based on “shadow banking”, which promised to alleviate both the capital problem and the long  term funding problem simultaneously.   The essence of shadow banking is to make loans, securitize them, sell the securities and insure  them,  and actively ...

Ngày tải lên: 22/03/2014, 23:20

... authorities, and the policy objective of the latter, while the same policy appears e¢ cient under the rational expectations hypothesis The delayed response to economic shocks or to changes in monetary policy ... German series due to the central place of the German policy in the European Monetary System before the launch of the ECB and because the German bond rates remain the benchmark for the long-term interest ... previous periods The middle panel shows the volatility of the bond rate over 12 months This is computed at the date t as the standard error of the series over the interval [t-12, t] And the bottom...

Ngày tải lên: 22/03/2014, 23:20

... discussion of the effects of the zero bound on interest rate policy in the recession, and Swanson and Williams (2012) for estimates of the effects of constrained monetary policy Hancock and Passmore ... during the recession, reflecting in part the uneven effects of the housing bust But, during the recovery, the gap has been smaller than at any time since the mid1970s In other words, across the ... state and local governments with past periods The red line represents the most recent recession and recovery The shaded region portrays the range of outcomes over the eight previous recessions and...

Ngày tải lên: 23/03/2014, 05:22

... fiscal position versus the non-Ricardian views of the private sector response Another is the nature of the policy responses (eg fiscal versus monetary dominance) and the interaction between them ... the average maturity of the debt … The question arose regarding whether the Fed and the Treasury were working at cross purposes … It was pointed out by members of the Committee that the Fed and ... offered by the government will change relative prices and thus influence the shape of the yield curve At the same time, monetary policy based on setting the policy rate becomes less effective: the lower...

Ngày tải lên: 29/03/2014, 13:20

... Helbling, and A Mazarei, 1997, Fiscal Policy and Growth in the Middle East and North Africa Region,” IMF Working Paper No 97/101 (Washington, DC: International Monetary Fund) Engle, R and C Granger, ... Development, Vol 22, pp 165-172 Ghosh, S., and A Gregoriou, 2006, “On the Composition of Government Spending, Optimal Fiscal Policy, and Endogenous Growth: Theory and Evidence,” Brunel University Discussion ... Oil-Rich Country: The Case of Saudi Arabia,” Pakistan Economic and Social Review,Vol 43, pp 151-166 Al-Obaid, H., 2004, “Rapidly Changing Economic Environments and the Wagner’s Law: The Case of Saudi...

Ngày tải lên: 10/04/2014, 23:56

... fundamentally, the natural and the social sciences both involve proposing hypotheses and testing them against empirical evidence— the bolder the hypotheses, the better The most daring of such hypotheses, and ... has the power to assign grades, a student has the power to attend class, and to evaluate the teacher at the end of the course Without the social institutions and social roles that create the ... against Plato and Hegel— that they sacrificed the individual on the altar of, respectively, the city and the state For Popper, methodological collectivism was the handmaiden to the “totalitarian...

Ngày tải lên: 11/06/2014, 12:47

... education for their children On the other hand, the ethnic groups and their leaders had major concerns and they raised their voices for their mother-tongues at every stage to preserve their regional ... time and space, the thesis has focused on the debate that came out of the publication of NEP, the important issues within the debate and the impact of the policy on Balochistan province 1.2 The ... confusion On the one hand the NEP 2009 allows the provinces to come up with their own MoI policy while on the other hand it has declared Math and Science subjects to be taught in English Thus the policy...

Ngày tải lên: 22/12/2014, 16:41

... hand, and the owners of the audit rms (partners) and their employees (auditors) on the other hand In the rst agency relationship, nancial statement users (principals) rely on the opinion of the ... and the psychological contract 799 they were not detected and question the effort put into the engagement by the audit team As such, quality reductions can be a threat to the credibility of the ... paid, and that these individuals are considered the best by the rms – could be that the auditors who are the most rewarded nancially by their rms are those who can best handle the constraints of their...

Ngày tải lên: 06/01/2015, 19:42

... output 22.4 Deficits and the fiscal stance    The size of the budget deficit is not a good measure of the government’s fiscal stance The structural budget shows what the budget would have ...  the quantity of notes and coin in private circulation plus the quantity held by the banking system The money multiplier – the change in the money stock for a £1 change in the quantity of the ... demand is always changing Induced effects on autonomous demand – changes in fiscal policy may induce offsetting effects in other components of aggregate demand 22.7 Limits on active fiscal policy...

Ngày tải lên: 03/02/2015, 15:21

... cities and suburbs The outcome of affordable housing policy in Beijing mainly favors the people with strong ties to the state and in employment The new experience of homeownership and the protection ... society was divided into two parts the upper class and the bottom class in the 1990s and the shape of the Chinese society was like a pyramid The upper class stands for only a small part of population ... examined the roles of state and market in urban development in China using Shanghai as a case He found that the state played the key role in determining the timing, the pace and the economic and spatial...

Ngày tải lên: 26/09/2015, 11:07

... motivate them and the means they employ in order to satisfy them, depend in fact very closely on their position in the field, i.e on their scientific capital and the power it gives them over the field ... debate between the principle giving primacy to observation and experimentation, and hence to the corresponding dispositions and capa- cities, and the principle which privileges theory and the correlative ... terms of the time devoted to research) and in their nature (and especially in the degree of risk involved) on the amount of actual and potential recognition-capital which they possess, and on their...

Ngày tải lên: 16/02/2016, 09:34