Download A General Approach to Macroeconomic Policy by J. O. N. Perkins (auth.) PDF

By J. O. N. Perkins (auth.)

Show description

Read or Download A General Approach to Macroeconomic Policy PDF

Similar money & monetary policy books

Savage Money

The mark of a civilized economic system is nationwide cash; the English pound, the Australian greenback, the Indian rupee. The mark of a savage economic climate is untamed funds within the kind of cowrie shells, silver, gold and so forth. The state's energy is significantly depending on its skill to cultivate savage cash and to reassert its regulate.

Exchange Rates under the East Asian Dollar Standard: Living with Conflicted Virtue

The more and more built-in economies of East Asia—China, Hong Kong, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, and Thailand—face the challenge of the way to accomplish exchange-rate safety within the absence of a unifying "Asian euro. " the U.S. greenback has turn into the region's dominant intraregional buying and selling forex in addition to the financial anchor to which East Asian economies informally peg their currencies.

Integrity in Mobile Phone Financial Services: Measures for Mitigating the Risks of Money Laundering and Terrorist Financing (World Bank Working Papers)

Integrity in Mobil telephone monetary companies explores recommendations to spot and deal with strength cash laundering and terrorist financing dangers in cellular monetary prone. The paper presents tips at the most sensible technique of assessing perceived as opposed to real dangers and identifies particular measures to mitigate the particular hazards.


Funds makes the area move round. From the earliest bartering structures to modern day refined digital transfers of billions of greenbacks in a cut up moment, platforms of alternate have conferred price upon items and prone and created the commercial glue that binds participants, companies, groups, and countries jointly.

Additional info for A General Approach to Macroeconomic Policy

Sample text

In this case it is obvious that if one wants to exert downward pressure on prices while raising output, government outlays should be reduced and taxes cut to an appropriate extent until the two objectives are achieved; for in this case a cut in government outlays would not have any (unwanted) downward effect on output. (ii) Even if each instrument has some effect on both objectives, the desired result can be achieved by appropriate adjustments of both of them, provided only that their respective (upward) effects on prices are not the same for a given upward effect on output.

2 also show, in two of the countries covered - the US and Canada - the effect on the average level of prices over the five-year period ofthe accommodated form of both types of fiscal stimulus tested (for a given effect on output) is less than is the bond-financed alternative. For the rest of the countries the accommodated form of a fiscal stimulus exerts more upward Empirical Evidence 27 pressure on prices over the course of the period than when the same form of fiscal stimulus is financed by bond sales (that is, with the quantity of money held constant).

98 or more SOURCE: Derived from Dramais, 1986. NOTE: as cuts in indirect taxes and in employers' social security contributions reduce prices as well as stimulating real output, there is (so far as this evidence goes, at any rate) no upper limit to the extent to which those taxes could be cut in the process of giving a non-inflationary stimulus. Indeed, there would be no need also to reduce government outlays in order to give a non-inflationary stimulus by cuts in either of those taxes, unless there was also some other aim, such as holding down the budget deficit or the deficit on the current account.

Download PDF sample

Rated 4.62 of 5 – based on 31 votes