Macroeconomic Policies In An Interdependent World
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Author | : Richard N. Cooper |
Publisher | : Cambridge, Mass. : MIT Press |
Total Pages | : 360 |
Release | : 1986 |
Genre | : Economic policy |
ISBN | : |
These eleven essays written over the past fifteen years continue and develop Richard Cooper's central theme of interdependence, reflecting his experience in government in the Council of Economic Advisers and as Undersecretary of State for Economic Affairs. They focus in particular on the opportunities and constraints for national economic policy in an environment where goods, services, capital, and even labor are increasingly mobile. The first four chapters are informal, discursive treatments of economic and foreign policies in the face of growing interdependence among nations. The remaining chapters cover such specialist topics as optimal regional integration, the integration of world capital markets, the impact of greater interdependence on the effectiveness of domestic economic policy, the comparison of monetary and fiscal policy under fixed and flexible exchange rates, currency evaluation in developing countries, and the appropriate size and composition of a developing country's external debt. A concluding chapter surveys the preceding essays in terms of coordinating macroeconomic policymaking in an interdependent world economy. Richard N. Cooper is Maurits C. Boas Professor of International Economy at Harvard University.
Author | : Ralph C. Bryant |
Publisher | : Brookings Institution Press |
Total Pages | : 532 |
Release | : 2003 |
Genre | : Business & Economics |
ISBN | : 9780815700722 |
The world economy at the end of the twentieth century was afflicted with financial turbulence. Millions of people in emerging-market nations endured severe recessions, and many residents of wealthy nations also experienced losses. Some scholars describe this instability as a consequence of a progressively integrated global economy. Writing for the Washington Post, Jessica Matthews describe an "enormous, several trillion-dollar pool of money that sloshes around in what is effectively a supranational cyberspace, moving by computer in and out of off-shore banks and chasing profits in twenty-four hour markets."Spanning the disciplines of economics, finance, political economy and international relations, this wide-ranging, analytical review is a mainstream "primer" for defining the issues and catalyzing a fruitful public debate. It is grounded in an exposition of the analytic fundamentals of financial activity, how those fundamentals apply to an integrating (but still far from perfectly integrated) world economy and financial system, and how the institutions of collective governance need to be adapted to that evolving world. In addition to its analytical overview, Turbulent Waters offers practical recommendations for the major financial challenges that policymakers will face during the first decades of the twenty-first century.
Author | : Jacob A. Frenkel |
Publisher | : University of Chicago Press |
Total Pages | : 422 |
Release | : 2007-12-01 |
Genre | : Business & Economics |
ISBN | : 0226262545 |
This volume brings together nine papers from a conference on international macroeconomics sponsored by the NBER in 1985. International economists as well as graduate students in the fields of global monetary economics, finance, and macroeconomics will find this an outstanding contribution to current research. It includes two commentaries for each paper, written by experts in the field, and Frenkel's detailed introduction, which serves as a reader's guide to the arguments made, the models employed, and the issues raised by each contributor. The studies analyze national fiscal policies within the context of the international economic order. Malcolm D. Knight and Paul R. Masson use an empirical model to show that fiscal changes in recent years in the United States, West Germany, and Japan have caused major disturbances in net savings and investment flows. Linda S. Kole uses a two-country simulation model to examine the effects of a large nation's expansion on exchange rates, interest rates, and the balance of payments. In other studies, Warwick J. McKibbin and Jeffrey D. Sachs discuss the influences of different currency regimes on the international transmission of inflation; Kent P. Kimbrough analyzes the interaction between optimal tax policies and international trade; Sweder van Wijnbergen investigates the interrelation of fiscal policies, trade intervention, and world interest rates; and Willem H. Buiter uses an analytical model to look at fiscal interdependence and optimal policy design. David Backus, Michael Devereux, and Douglas Purvis develop a theoretical model to investigate effects of different fiscal policies in an open economy. Alan C. Stockman looks at the influence of policy anticipation in the private sector, while Lawrence H. Summers shows the effects of differential tax policy on international competitiveness.
Author | : Soumitra Sharma |
Publisher | : Springer |
Total Pages | : 285 |
Release | : 1996-01-12 |
Genre | : Business & Economics |
ISBN | : 1349242802 |
This volume discusses major macroeconomic policies and issues from theoretical and practical perspective focusing on the link between theory of macroeconomic management policy and its practice in the last few decades. The topics selected here are of persistent interest for those interested in economic policy - theorists and policists.
Author | : Ralph C. Bryant |
Publisher | : Brookings Institution Press |
Total Pages | : 188 |
Release | : 2020-11-17 |
Genre | : Political Science |
ISBN | : 0815738722 |
" The world's governing structures are higgledy-piggledy: disorderly, heads and tails in any or every direction. Such disorder fosters deficient governance. Decisions by noncooperating nations can generate damaging crossborder outcomes. Muddles destabilize mutual well-being. Public debate is often mired in superficial arguments about “globalization.” This insightful book by economist Ralph C. Bryant instead emphasizes that the world's nations need to craft better middle-ground compromises to improve governance and manage increasing integration. Individual nations, Bryant argues, should fashion a balance between local autonomy and external openness, avoiding the extremes of rigid localism and unfettered openness. And nations need to act together collectively. Cooperative governance can encourage orderliness that mitigates disarray undermining mutual goals. The global challenge of the coronavirus pandemic is a vivid reminderthat international cooperation is becoming progressively more essential. Do nations and their leaders have sufficient foresight to use borders not as barriers but as catalysts for international cooperation? Could national migration policies find sustainable middle ground between the unrealistic extreme of unfettered freedom for people to cross borders and the inhumane exclusion of foreign refugees? Could augmented cross-border cooperation mitigate dangers from recurring financial instability? Could the world community foster collective actions to reduce the severe risks of global climate change? The answer to such questions can and should be yes. Wiser cross-border collective action nurtures a mutually supportive order offsetting the threats of disorder that may otherwise prevail. A healthy evolution of our planet requires—requires!—more orderly national governance and more ambitious cross-border cooperation. "
Author | : Signe Krogstrup |
Publisher | : International Monetary Fund |
Total Pages | : 58 |
Release | : 2019-09-04 |
Genre | : Business & Economics |
ISBN | : 1513511955 |
Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The literature provides a menu of policy tools for mitigation. A key conclusion is that fiscal tools are first in line and central, but can and may need to be complemented by financial and monetary policy instruments. Some tools and policies raise unanswered questions about policy tool assignment and mandates, which we describe. The literature is scarce, however, on the most effective policy mix and the role of mitigation tools and goals in the overall policy framework.
Author | : Martin Feldstein |
Publisher | : University of Chicago Press |
Total Pages | : 346 |
Release | : 2007-11-01 |
Genre | : Business & Economics |
ISBN | : 0226241815 |
"A readable, balanced, and provocative view of the prospects for fruitful international economic cooperation. The papers are realistic: each discusses the difficulties involved in reaching cooperative solutions or procedures as well as the benefits of doing so. The discussion among the conference participants is lively, interesting, and insightful."--William H. Branson, Princeton University
Author | : International Monetary Fund. External Relations Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 60 |
Release | : 2014-08-25 |
Genre | : Business & Economics |
ISBN | : 1475566980 |
This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world.
Author | : Peter Dorman |
Publisher | : Springer |
Total Pages | : 528 |
Release | : 2014-06-11 |
Genre | : Business & Economics |
ISBN | : 3642374344 |
Focused on Dhaka, and applicable to other cities, this book uses geospatial techniques to explore land use, climate variability, urban sprawl, population density modeling, flooding, water quality, urban growth modeling, infectious disease and quality of life.
Author | : National Intelligence Council |
Publisher | : Cosimo Reports |
Total Pages | : 158 |
Release | : 2021-03 |
Genre | : |
ISBN | : 9781646794973 |
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.