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Polycentric banking and macroeconomic stability
Business and Politics, 2015AbstractWe contribute to the post-crisis literature on macroeconomic stability by arguing that polycentric banking systems can better achieve stability than monocentric systems. Building on the theories of E. Ostrom, we engage the literature on free banking systems to show that these systems met the requirements of polycentric governance systems, and ...
Alexander William Salter, Vlad Tarko
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Unemployment Insurance in Macroeconomic Stabilization
SSRN Electronic Journal, 2021Abstract I study unemployment insurance (UI) in general equilibrium with incomplete markets, search frictions, and nominal rigidities. An increase in generosity raises the aggregate demand for consumption if the unemployed have a higher marginal propensity to consume than the employed or if agents precautionary save in light of future ...
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Improving Macroeconomic Stability
2015Although the initial impact of the global financial crisis on the region appeared limited, Asia was hit hard when the crisis spread to the real sector and caused the volume of world trade to collapse. Policymakers in almost all economies in the region responded to the sharp contraction of output by easing macroeconomic policies.
Masahiro Kawai, Shinji Takagi
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Achieving Macroeconomic Stability
2018Following the preceding two chapters which focussed on economic policy and reform and on the growth and structure of the economy, this chapter considers core macroeconomic issues in the Ghanaian economy, with particular attention to the period after April 1983 when the first Economic Recovery Programme (ERP) was launched.
Mozammel Huq, Michael Tribe
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2019
The aim of macroeconomic stabilization is restoring price stability and reducing monetary, fiscal, and balance-of-payment imbalances. Macroeconomic stabilization is particularly needed when a country suffers from high inflation or hyperinflation. To stop such an inflation one can choose between three types of anti-inflationary programmes: orthodox ...
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The aim of macroeconomic stabilization is restoring price stability and reducing monetary, fiscal, and balance-of-payment imbalances. Macroeconomic stabilization is particularly needed when a country suffers from high inflation or hyperinflation. To stop such an inflation one can choose between three types of anti-inflationary programmes: orthodox ...
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Average inflation targeting and macroeconomic stability
Economics Letters, 2022zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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STABILIZING MACROECONOMIC FLUCTUATIONS IN THE EMU
Macroeconomic Dynamics, 2001Macroeconomic performance in the Economic and Monetary union (EMU) will be impaired if national fiscal policy flexibility and monetary flexibility of the ECB is limited, goods markets adjust sluggishly, labor mobility is low, and automatic stabilization from federal taxes and government spending is low. This paper analyzes the stabilization of output
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Exchange rate systems and macroeconomic stability
Journal of Monetary Economics, 2002Abstract We examine macroeconomic stability and the properties of the international transmission of business cycles under three exchange rate systems: a flexible, a unilateral peg (EMS) and a single currency (EMU). The subjects of study are Germany and France.
Collard, Fabrice, Dellas, Harris
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Stability of Macroeconomic Variables
2018In Chap. 4, we have seen some important characteristics of long-term inventory processes. If we want to see the relationship of these to the other GDP components, we have to examine long-term characteristics not only the GDP components but also some other macroeconomic factors, which according to previous research are in close relationship with ...
Attila Chikán +4 more
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Macroeconomic Stabilization Policy: Does Politics Matter?
1991A very neat picture of the role of macroeconomics is the Tinbergen view of the (wise and benevolent) government trying to control economic fluctuations being generated in the private sector of the economy.2 In this view (we) economists are to provide the analysis allowing the government to manipulate the economy so as to maximize its welfare function ...
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