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Displaying results 1 to 10 of 10.

  1. How Latin America is finding its path to economic prosperity again
    a just transition as the target
    Author: Maihold, Günther
    Published: [April 2023]
    Publisher:  SWP, Berlin

    The traditional image of Latin America as a troubled region seems to continue even after the Covid-19 crisis, this time in the wake of the war in Ukraine and the sanctions imposed by the West. Inflationary pressures, budget deficits and the danger... more

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    Fachinformationsverbund Internationale Beziehungen und Länderkunde
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    Ibero-Amerikanisches Institut Preußischer Kulturbesitz, Bibliothek
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    Stiftung Wissenschaft und Politik (SWP), Bibliothek
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DSP 386
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    The traditional image of Latin America as a troubled region seems to continue even after the Covid-19 crisis, this time in the wake of the war in Ukraine and the sanctions imposed by the West. Inflationary pressures, budget deficits and the danger that broad sections of the population will slip into poverty are fuelling negative scenarios. There are initial indications that some countries are already experiencing payment difficulties. Demands from Latin American governments for debt relief or the renego­tiation of foreign debt are being put on the agenda as part of a reorientation of the development model towards sustainability and climate protection criteria. This re­quires a far-reaching structural change, away from the traditional commodity-based economies and towards an environmentally and socially compatible development path. Germany and Europe must also shift course by contributing to the conservation of natural resources and not just to their exploitation.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/271551
    Series: SWP comment ; 2023, no. 21 (April 2023)
    Subjects: Wirtschaftsentwicklung; Regionalpolitik; Regionale Wirtschaftsstruktur; Natürliche Ressourcen; Strukturpolitik; Strukturfaktor; Latin America; economic development model; sustainability; climate protection; Just Transition; inflationary pressures; budget deficits
    Scope: 1 Online-Ressource (6 Seiten), 1 Diagramm
    Notes:

    "English version of SWP-Aktuell 24/2023"

    Gesehen am 04.04.2023
  2. The theory of monetary disorder
    debt finance, existing assets, and the consequences of prolonged monetized budget deficits and ultra-easy monetary policy
    Author: Palley, Thomas
    Published: 2023
    Publisher:  Hans-Böckler-Stiftung, Düsseldorf

    This paper introduces the notion of monetary disorder. The underlying theory rests on a twin circuits view of the macro economy. The idea of monetary disorder has relevance for understanding the experience and consequences of the recent decade-long... more

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    DSP 200
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    This paper introduces the notion of monetary disorder. The underlying theory rests on a twin circuits view of the macro economy. The idea of monetary disorder has relevance for understanding the experience and consequences of the recent decade-long period of monetized large budget deficits and ultra-easy monetary policy. Current policy rests on Keynesian logic whereby a large fall in aggregate demand warrants robust offsetting monetary and fiscal policy actions. That logic neglects potential monetary disorder being bred within the financial circuit in the form of inflated asset prices and leveraged balance sheets. That disorder is likely to develop long before inflation accelerates so that inflation targeting fails to protect against it. Political factors increase the policy danger as the benefits of disorder are front-loaded and the costs backloaded. The paper concludes with a policy discussion regarding how to prevent Keynesian goods market counter-cyclical stabilization policy from causing monetary disorder.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/297856
    Series: FMM working paper ; Nr. 93 (October 2023)
    Subjects: Monetary disorder; twin circuits; inflation; asset price bubbles; budget deficits; modern money theory (MMT)
    Scope: 1 Online-Ressource (circa 36 Seiten), Illustrationen
  3. European fiscal policies under the stability pact
    some first insights
    Author: Lehment, Harmen
    Published: 2002
    Publisher:  Inst. of World Economics, Kiel

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  4. European fiscal policies under the stability pact - some first insights
    Author: Lehment, Harmen
    Published: 2002
    Publisher:  Kiel Institute for the World Economy (IfW), Kiel

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  5. How Latin America is finding its path to economic prosperity again
    a just transition as the target
    Author: Maihold, Günther
    Published: [April 2023]
    Publisher:  SWP, Berlin

    The traditional image of Latin America as a troubled region seems to continue even after the Covid-19 crisis, this time in the wake of the war in Ukraine and the sanctions imposed by the West. Inflationary pressures, budget deficits and the danger... more

    Access:
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)
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    Location:
    Ibero-Amerikanisches Institut Preußischer Kulturbesitz, Bibliothek
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    Unlimited inter-library loan, copies and loan

     

    The traditional image of Latin America as a troubled region seems to continue even after the Covid-19 crisis, this time in the wake of the war in Ukraine and the sanctions imposed by the West. Inflationary pressures, budget deficits and the danger that broad sections of the population will slip into poverty are fuelling negative scenarios. There are initial indications that some countries are already experiencing payment difficulties. Demands from Latin American governments for debt relief or the renego­tiation of foreign debt are being put on the agenda as part of a reorientation of the development model towards sustainability and climate protection criteria. This re­quires a far-reaching structural change, away from the traditional commodity-based economies and towards an environmentally and socially compatible development path. Germany and Europe must also shift course by contributing to the conservation of natural resources and not just to their exploitation.

     
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    Content information
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/271551
    Series: SWP comment ; 2023, no. 21 (April 2023)
    Subjects: Wirtschaftsentwicklung; Regionalpolitik; Regionale Wirtschaftsstruktur; Natürliche Ressourcen; Strukturpolitik; Strukturfaktor; Latin America; economic development model; sustainability; climate protection; Just Transition; inflationary pressures; budget deficits
    Scope: 1 Online-Ressource (6 Seiten), 1 Diagramm
    Notes:

    "English version of SWP-Aktuell 24/2023"

    Gesehen am 04.04.2023
  6. Fiscal performance of minority governments
    new empirical evidence for OECD countries
    Author: Potrafke, Niklas
    Published: [2019]
    Publisher:  ifo Institute - Leibniz Institute for Economic Research at the University of Munich, Munich, Germany

    I use new data on central and general governments for 23 OECD countries over the period 1960-2015 (unbalanced panel) to examine fiscal performance under minority governments. The results do not suggest that minority governments had higher fiscal... more

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    I use new data on central and general governments for 23 OECD countries over the period 1960-2015 (unbalanced panel) to examine fiscal performance under minority governments. The results do not suggest that minority governments had higher fiscal deficits and public expenditure than majority governments - corroborating many previous studies. An innovation of my study is to examine fiscal policies of minority governments that enjoy organized support of opposition parties. The results do not show that minority governments that enjoy organized support of opposition parties increased public expenditure to a larger extent than majority governments. If anything, fiscal deficits were somewhat higher under single-party minority governments with organized support of opposition parties than under majority governments especially. Minority and majority governments had quite similar fiscal performance in OECD countries.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/213582
    Series: Ifo working papers ; 305 (July 2019)
    Subjects: Minority governments; organized support of opposition parties; budget deficits; public expenditure; general and central government; OECD countries; paneldata models
    Scope: 1 Online-Ressource (circa 34 Seiten)
  7. Fiscal performance of minority governments
    new empirical evidence for OECD countries
    Author: Potrafke, Niklas
    Published: [2019]
    Publisher:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    I use new data on central and general governments for 23 OECD countries over the period 1960-2015 (unbalanced panel) to examine fiscal performance under minority governments. The results do not suggest that minority governments had higher fiscal... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 63
    Inter-library loan:
    No inter-library loan

     

    I use new data on central and general governments for 23 OECD countries over the period 1960-2015 (unbalanced panel) to examine fiscal performance under minority governments. The results do not suggest that minority governments had higher fiscal deficits and public expenditure than majority governments - corroborating many previous studies. An innovation of my study is to examine fiscal policies of minority governments that enjoy organized support of opposition parties. The results do not show that minority governments that enjoy organized support of opposition parties increased public expenditure to a larger extent than majority governments. If anything, fiscal deficits were somewhat higher under single-party minority governments with organized support of opposition parties than under majority governments especially. Minority and majority governments had quite similar fiscal performance in OECD countries.

     
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    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/201959
    Series: Array ; no. 7733 (July 2019)
    Subjects: minority governments; organized support of opposition parties; budget deficits; public expenditure; general and central government; OECD countries; panel data models
    Scope: 1 Online-Ressource (circa 34 Seiten)
  8. What's wrong with modern money theory (MMT)
    a critical primer
    Author: Palley, Thomas
    Published: 2019
    Publisher:  Hans-Böckler-Stiftung, Düsseldorf

    Recently, there has been a burst of interest in modern money theory (MMT). The essential claim of MMT is sovereign currency issuing governments do not need taxes or bonds to finance government spending and are financially unconstrained. MMT rests on... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Recently, there has been a burst of interest in modern money theory (MMT). The essential claim of MMT is sovereign currency issuing governments do not need taxes or bonds to finance government spending and are financially unconstrained. MMT rests on a triad of arguments concerning: (i) the macroeconomics of money financed budget deficits, (ii) the employer of last resort or job guarantee program, and (iii) the history of money. This primer analyzes that triad and shows each element involves suspect economic arguments. That leads MMT to underestimate the economic costs and exaggerate the capabilities of money financed fiscal policy. MMT's analytic shortcomings render it poor economics. However, its simplistic printing press economics is proving a popular political polemic, countering the equally simplistic and wrong-headed household economics of neoliberal austerity polemic.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/213401
    Series: FMM working paper ; Nr. 44(March, 2019)
    Subjects: Modern money theory (MMT); budget deficits; job guarantee program
    Scope: 1 Online-Ressource (circa 38 Seiten)
  9. Fiscal policy and interest rates in a small open economy
    Author: Lindé, Jesper
    Published: 2000
    Publisher:  Sveriges Riksbank], [Stockholm

    This paper contains an empirical investigation of the effects of fiscal policy on interest rates based on a conventional stochastic macro model designed for a small open economy. The empirical investigation undertaken utilizes data for Sweden, a... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 204 (55)
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    This paper contains an empirical investigation of the effects of fiscal policy on interest rates based on a conventional stochastic macro model designed for a small open economy. The empirical investigation undertaken utilizes data for Sweden, a country which has experienced very large fluctuations in the government budget deficits and in the short- and long-term nominal interest rates, thus providing a better empirical test than previous studies. According to the empirical results, larger budget deficits jspell higher interest rates, as posited by conventional macroeconomic theory.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/83028
    Series: [Sveriges Riksbank working paper series ; 55]
    Subjects: Term structure of interest rates; Ricardian equivalence; budget deficits; small open economy; stationary and non-stationary time series
    Scope: Online-Ressource (41 S.), graph. Darst.
  10. The effect of fiscal rules on public investment if budget deficits are politically motivated
    Author: Dur, Robert A. J.; Peletier, Ben D.; Swank, Otto H.
    Published: 1997
    Publisher:  Tinbergen Inst., Rotterdam [u.a.]

    Uncertainty about the future preferences of the government may induce policy makers to run excessive budget deficits. As a solution to this problem, economists have proposed to impose a binding debt rule. In this paper we argue that a binding debt... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 432 (1997,125)
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    Uncertainty about the future preferences of the government may induce policy makers to run excessive budget deficits. As a solution to this problem, economists have proposed to impose a binding debt rule. In this paper we argue that a binding debt rule does not eliminate the distortions due to strategic behaviour of politicians. Rather, strategic manipulation shifts from public debt to public investment. As an alternative, we examine the effects of a capital borrowing rule which permits the government to run a budget deficit equal to the amount of public investment. We show that this rule effectively eliminates strategic behaviour.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/85615
    Series: Array ; 1997,125
    Subjects: fiscal rules; budget deficits; public investment
    Scope: Online-Ressource (18 S.)