Download or read book A Systems Approach to Estimating the Natural Rate of Unemployment and Potential Output for the United States written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-10-26 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: The methodology used in this paper has three distinguishing features: the natural rate of unemployment and potential output are jointly estimated; estimation integrates wage and price data with “real” and structural data; and third, the methodology encompasses many of the methods found in the literature. The results indicate that potential output growth has recovered somewhat during the early 1980s, but remains below the rapid rates of increase in the late 1960s. The natural rate, after rising during the late 1960s and the 1970s, is found to have declined in the 1980s. The paper concludes with an assessment of medium-term prospects for potential output and-the natural rate.
Download or read book Keynes Post Keynesianism and Political Economy written by Peter Kriesler and published by Routledge. This book was released on 1999-11-11 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt: Geoff Harcourt has had a major impact on the field of Post-Keynesian economics, not only in his research but also in his teaching. Many of Harcourts students have gone on to make valuable contributions in this field. This volume brings together contributions from thirty such former students, now established in academic institutions around the world
Download or read book Money in a Free Society written by Tim Congdon and published by Encounter Books. This book was released on 2011-11-01 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 15 years to mid-2007 the world economy enjoyed unparalleled stability (the so-called “Great Moderation”), with steady growth and low inflation. But the period since mid-2007 (“the Great Recession”) has seen the worst macroeconomic turmoil since the 1930s. A dramatic plunge in trade, output and employment in late 2008 and 2009 has been followed by an unconvincing recovery. How is the lurch from stability to instability to be explained? What are the intellectual origins of the policy mistakes that led to the Great Recession? What theories motivated policies in the USA and other leading nations? Which ideas about economic policy have proved right? And which have been wrong? Money in a Free Society contains 18 provocative essays on these questions from Tim Congdon, an influential economic adviser to the Thatcher government in the UK and one of the world’s leading monetary commentators. Congdon argues that academic economists and policy-makers have betrayed the intellectual legacy of both Keynes and Friedman. These two great economists believed – if in somewhat different ways – in the need for steady growth in the quantity of money. But Keynes has been misunderstood as advocating big rises in public spending and large budget deficits as the only way to defeat recession. That has led under President Obama to an unsustainable explosion in American public debt. Meanwhile the Fed has ignored extreme volatility in the rate of money growth, contrary to the central message of Friedman’s analytical work. In his 1923 Tract on Monetary Reform Keynes said, “The Individualistic Capitalism of today, precisely because it entrusts saving to the individual investor and production to the individual employer, presumes a stable measuring-rod of value, and cannot be efficient--perhaps cannot survive--without one.” In Money in a Free Society Congdon calls for a return to stable money growth and sound public finances, and argues that these remain the best answers to the problems facing modern capitalism.
Download or read book East Asian Economic Issues Vol 3 written by Donghyun Park and published by World Scientific. This book was released on 1997-11-29 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a compilation of papers written jointly by the staff and students of the Applied Economics Division of the Nanyang Business School. It is unique, in that all the works included are the result of an extensive, equal and mutually beneficial collaboration between the students and staff. At the same time, they embody the highest level of technical and analytical rigor, and will be immensely relevant and useful to readers interested in East Asian economic issues. In particular, this volume will prove valuable for anyone interested in both the microeconomic and macroeconomic developments affecting Singapore and ASEAN.
Download or read book East Asian Economic Issues written by Jon D. Kendall and published by World Scientific. This book was released on 1997 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a compilation of papers written jointly by the staff and students of the Applied Economics Division of the Nanyang Business School. It is unique, in that all the works included are the result of an extensive, equal and mutually beneficial collaboration between the students and staff. At the same time, they embody the highest level of technical and analytical rigor, and will be immensely relevant and useful to readers interested in East Asian economic issues. In particular, this volume will prove valuable for anyone interested in both the microeconomic and macroeconomic developments affecting Singapore and ASEAN.
Download or read book Potential Output Growth in Emerging Market Countries written by Mr.Jorge Roldos and published by International Monetary Fund. This book was released on 1997-09-01 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates potential output and the sources of growth in Chile during 1970-96. Actual output is cointegrated with the quality-adjusted measures of capital and labor, and constant returns to scale cannot be rejected. The estimates of potential output show a positive output gap in the years when the Chilean economy was deemed to be overheated. In 1986-90, the quality-adjusted labor variable explains close to 60 percent of the growth rate of GDP, while during 1991-95 capital formation plays a dominant role. The contribution of TFP growth in Chile is relatively small, but, based on a comparison with European and East Asian experiences, it is expected to increase in the medium term.
Download or read book German Unification written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-12-04 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses comparison of economic and social indicators in the year 1988 between Federal Republic of Germany (FRG) and German Democratic Republic (GDR). The budgetary costs of unification will be substantially larger than initially envisaged. Moreover, if one adds to the budget the increases in government debt related to equalization paper, a portion of the old enterprise debt on the books of the banks. The Trust Fund has been assigned a task or enormous scope and complexity: the privatization, restructuring, and in some cases, liquidation of 8000 enterprises with 4 million employees. Even taking care of the short-run financial problems of these enterprises has proved daunting; the more fundamental task will be near impossible to achieve with any rapidity. It is clearly essential to the success of economic integration that capital allow east rather than labor flowing west and that income growth and new opportunities arc enough to meet reasonable aspirations on the pan of the residents of East Germany.
Download or read book Cost benefit Analysis written by James H. Meisel and published by Routledge. This book was released on 2020-10-11 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world is increasingly concerned with bridging the developmental gap between the developed and developing countries. With the establishment of a number of institutions for funding the projects including the World Bank, Asian Development Bank, and many other agencies, the need to develop mechanisms to assess economically viable projects is more important than ever. The Social-Cost Benefit Analysis (SCBA) is an important technique used in formulating, appraising, and evaluating projects. It is a facet of applied welfare economics which is increasingly being used to identify and assess public projects in both developing and developed countries. This volume presents a comprehensive view of cost-benefit analysis in its theoretical and applied dimensions. Both theory and case studies are presented. The theoretical setting for Cost-Benefit Analysis is established by the first five chapters-"Spatial General Equilibrium and Cost-Benefit Analysis," by David M. Newbery; "Optimum Growth Theory and Social Time Preference: A Computerized Mathematical Modeling Exercise to Choose a Social Discount Rate," by Sardar M. N. Islam; "A Theoretical Inquiry of the Axiomatic Consistency of Distributional Weights used in Cost-Benefit Analysis," by Giuseppe Munda; "The Output Gap: Measurement, Related Concepts, and Policy Implications," by Parameswar Nandakumar; and "A Methodological Comparison of Theoretical Approaches in Dichotomous Choice Contingent Valuation," by John C. Whitehead. This book will be useful as a reference text by professors and students in project appraisal classes and will be of equal value to analysts, planners, and interested general readers.
Download or read book Sweden written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-10-12 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper describes a variety of methodologies for estimating a country’s potential output level and presents empirical estimates for Sweden. The paper explains why these methods produce a variety of results, some of which are more plausible than others. The paper looks more closely at one aspect of growth in potential output: how it has been affected by the structural policy improvements of the past several years. The paper examines the pattern of output and unemployment over time to separate permanent changes from cyclical and other temporary changes.
Download or read book The United States Economy written by Mr.Yusuke Horiguchi and published by International Monetary Fund. This book was released on 1992-01-15 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, by a staff team headed by Yusuke Horiguchi, examines U.S. economic policy and performance in the 1980s, during which the United States enjoyed its longest peacetime expansion. Notwithstanding the buoyant growth and declines in inflation, the economy experienced low savings, current account deficits, swings in the dollar exchange rate, and structural problems--relating to the strength of financial institutions, the tax system, health care, and productivity.
Download or read book Ireland written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-10-01 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper and Statistical Appendix on Ireland examines the productivity growth in Irish traded and nontraded goods, and provides some rough estimates of the sort of wage and inflation differentials that would be predicted by a Balassa–Samuelson framework under certain growth assumptions for the future. The paper provides a framework for judging what sort of wage growth and inflation could be sustained over the medium term without leading to a loss of competitiveness. The paper also examines traded and nontraded productivity in Ireland.
Download or read book Created Unequal written by James K. Galbraith and published by University of Chicago Press. This book was released on 2000-12-15 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: The strong U.S. economy in the late 1990s has validated the bold thesis of this book. Created Unequal shows that America's historically high inequality of pay and incomes is not the result of impersonal market forces such as technology or trade, but of bad economic policies over several decades and the poor performance they created. Featuring a new preface on the improvements since 1994, Created Unequal is a rousing book that reminds us we can reclaim our country through economic understanding, commonsense policy, and political action.
Download or read book Labor Market Flexibility in 13 Latin American Countries and the United States written by José Antonio González Anaya and published by World Bank Publications. This book was released on 1999-01-01 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Once again, the quick capacity to overcome economic difficulties in 1995 was insufficient to mark improvements on the labor field." -ILO-Latin America, Editorial, "Labor Outlook 1996" For the first time, this volume compares labor market flexibility across countries in Latin America and the United States. The study uses two performance variables, a price variable measured by real wages and a quantity variable measured alternatively by either employment or unemployment. This paper looks into the structural relationship between output and these variables across 13 countries in Latin America and the United States for the last 20-30 years as a way of measuring the ability of the labor market to absorb output shocks.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1990-01-01 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: The transition strategy from administratively set interest rates to market rates is discussed. Despite worldwide trends toward financial liberalization, few monetary authorities are prepared to accept as reasonable any interest rate level that is market determined. The paper suggests some helpful indicators to assess the adequacy of interest rates and discusses factors that contribute to a smooth liberalization process. The main conclusion is that interest rate liberalization is not synonymous with laissez-faire policies, but requires the replacement of the administratively set interest rates by indirect monetary management techniques that operate through the market.
Download or read book United Germany written by Mr.Robert J. Corker and published by International Monetary Fund. This book was released on 1995-06-14 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: This papers reviews economic and financial developments in Germany since its reunification nearly five years ago; and analyzes some critical issues that have featured prominently in the policy debate over this period and are likely to continue attracting attention in the years ahead.
Download or read book Why is Unemployment so High At Full Capacity The Persistence of Unemployment the Natural Rate and Potential Output in the Federal Republic of Germany written by Mr.David T. Coe and published by International Monetary Fund. This book was released on 1990-10-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The empirical analysis indicates that in the Federal Republic the unemployed primarily influence the relationship between the level of real wages and productivity, rather than the growth of wages. This result suggests a distinction between an equilibrium natural rate of unemployment, which is estimated to have been 3-4 percent in the 1980s, and a quasi-equilibrium unemployment rate closer to actual rates of 7-8 percent. Corresponding to these two concepts of equilibrium unemployment, estimates are presented of alternative concepts of potential output that differ according to whether labor input is consistent with the quasi-equilibrium rate of unemployment or with the natural rate of unemployment.
Download or read book International Bibliography of the Social Sciences written by British Library of Political and Economic Science and published by Psychology Press. This book was released on 1992 with total page 704 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IBSS is the essential tool for librarians, university departments, research institutions and any public or private institution whose work requires access to up-to-date and comprehenisve knowledge of the social sciences.
