scholarly journals Structural reforms, animal spirits, and monetary policies

2020 ◽  
Vol 124 ◽  
pp. 103395 ◽  
Author(s):  
Paul De Grauwe ◽  
Yuemei Ji
Keyword(s):  
Structural Reforms ◽  
Monetary Policies ◽  
Animal Spirits

scholarly journals ALTERNATIVE MONETARY POLICIES UNDER KEYNESIAN ANIMAL SPIRITS

2021 ◽  
pp. 1-1
Author(s):  
Tai-Kuang Ho ◽  
Ya-Chi Lin ◽  
Kuo-Chun Yeh
Keyword(s):  
Monetary Policies ◽  
Animal Spirits

China’s Economy 2016/17: Seeking Growth with Stability Amidst External Uncertainty

2017 ◽  
Vol 09 (01) ◽  
pp. 21-38
Author(s):  
John WONG
Keyword(s):  
Supply Side ◽  
Policy Intervention ◽  
Structural Reforms ◽  
Economic Policies ◽  
Monetary Policies ◽  
Growth Policy ◽  
The Government ◽  
Double Digit ◽  
Growth Deceleration ◽  
China’S Economy

China’s economy ended 2016 with 6.7% growth. It formally ended its era of double-digit growth in 2012 with 7.7%. China has managed growth deceleration remarkably well by letting it slide gradually. This was achieved mainly by the government’s pro-growth policy intervention through expansionary fiscal and monetary policies. The government has recently refocused its macroeconomic policy from demand-side management to supply-side structural reforms, giving priority to reducing over-capacity and de-leveraging. For 2017, growth is expected to slow to 6.5% due to great uncertainties including the potentially hostile US economic policies of President Trump.

scholarly journals Resilience in Focus : Certain Mechanisms of the Deepening of the Economic and Monetary Union

2021 ◽  
Vol 66 (1) ◽  
pp. 7-31
Author(s):  
Péter Halmai
Keyword(s):  
National Level ◽  
Economic And Monetary Union ◽  
Structural Reforms ◽  
Economic Policies ◽  
Vulnerability Factors ◽  
Economic Resilience ◽  
Monetary Policies ◽  
National Economic ◽  
Reform Processes ◽  
Deep Integration

The economic resilience - the flexibility of the economy and also the capability of resistance to shocks - is a central category of European reform processes. It contains proactive and reactive dimension, as well as the necessity of adaptation to the new circumstances. The study examines the basic dimensions of resilience: vulnerability factors, shock absorption and the ability to recover, and finds that the efficiency of the interactions and synergy of the deep integration system is determined by the interconnected mechanisms of convergence and resilience. Approaching resilience may show a new direction to national economic policies. With the increase of resilience of certain member states, the structural reforms at national level could decrease (reduce) the expense of the anti-cyclical (national fiscal or common monetary) policies in stabilizing of the Eurozone’s economies.

ALTERNATIVE MONETARY POLICIES UNDER KEYNESIAN ANIMAL SPIRITS

2019 ◽  
pp. 1-27
Author(s):  
Tai-kuang Ho ◽  
Ya-chi Lin ◽  
Kuo-chun Yeh
Keyword(s):  
Open Economy ◽  
Inflation Targeting ◽  
Price Level ◽  
Rational Expectation ◽  
Consumer Price Index ◽  
Monetary Policies ◽  
Animal Spirits ◽  
Cognitive Limitations ◽  
Expectation Hypothesis ◽  
Error Learning

In this paper, we make the case that an argument for price-level targeting over inflation targeting need not to be based on some overly restrictive assumptions. We adopt a theoretical framework that deviates from the assumption of rational expectation, and that takes into account the cognitive limitations and a “trial and error” learning mechanism of the agents. The (im)perfect credibility of various monetary policies (e.g., a Taylor-type rule, strict domestic inflation targeting, strict consumer price index (CPI) inflation targeting, exchange rate peg, and domestic price-level and CPI-level targeting) may lead agents to react according to their expectation rules, and then create various degrees of booms and busts in output and inflation. Therefore, relaxing the rational expectation hypothesis has potential consequences for policy planning. We find that price-level targeting prevails over inflation targeting even under different expectation formation and even when the announced inflation target is not fully credible. The counterfactual analysis and sensitivity test confirm that CPI-level targeting is the most effective for improving social welfare and stability in an open economy. The business cycles induced by animal spirits are enhanced by strict inflation targeting.

Anti-crisis measures or structural reforms: Russia’s economic policy in 2015

2016 ◽  
pp. 5-33 ◽  
Author(s):  
V. Mau
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Structural Transformation ◽  
Growth Model ◽  
Emerging Economies ◽  
Social Issues ◽  
Import Substitution ◽  
Structural Reforms ◽  
Energy Prices ◽  
New Models

The paper deals with 2015 trends and challenges for social and economic policy in the nearest future. The analysis of global crisis includes: uneven developments in the leading advanced and emerging economies; new models of economic growth which look differently in different countries; prospects of globalization and challenges of ‘regional globalization’; currency configurations of the future; energy prices dynamics and its influence on political and economic prospects of particular states. Current challenges are discussed in the context of previous 30 years. Among the main topics on Russia, there are approaches to a new growth model, structural transformation (including import substitution issues), economic dynamics, budget and monetary outlines, social issues. The priorities of economic policy are also considered.

Suva Residents’ Views on Cancer, Diabetes and HIV in The Fiji Times

2020 ◽  
Vol 40 (1) ◽  
Author(s):  
Farzana Gounder
Keyword(s):  
Chronic Illnesses ◽  
Structural Reforms ◽  
Letters To The Editor ◽  
Medical Responsibility ◽  
Grassroots Support ◽  
Preliminary Study ◽  
Socially Relevant ◽  
Situated Approach ◽  
Significant Health

The burden of preventable diseases is increasing in the South Pacific Island Countries and Territories. In Fiji, significant media attention and national finances are spent on public dissemination of the modifiable risk factors of chronic illnesses. However, little is known about lay societal perceptions of chronic illnesses and of people living with these illnesses. This preliminary study takes an area-situated approach to lay knowledge and examines Suva residents’ moral evaluations associated with socially significant health concerns in Fiji. Using the case studies of HIV, cancer, and diabetes, the research employs content analysis to examine 144 Suva residents’ Letters to the Editor, published between 2000 and 2019 in The Fiji Times. The findings indicate that letter writers on chronic illnesses are power sensitive, interested in governmental responsibility, and aware of the role of stigma in creating inequitable health outcomes. The study’s findings locate chronic illness as not only a medical responsibility but also a social justice and human rights concern that requires a multisectoral approach, with community-tailored responses at the heart of all discussions. The lay-societal recognition of the three illnesses as being socially relevant suggests grassroots support for policies directed towards structural reforms for the prevention and management of these illnesses.

Why do the national financial and monetary policies not boost the economy?

2020 ◽  
Vol 26 (7) ◽  
pp. 1496-1521
Author(s):  
N.I. Kulikov ◽  
M.A. Kulikova ◽  
A.A.S.R. Mobio
Keyword(s):  
Central Bank ◽  
Policy Support ◽  
Gdp Growth ◽  
Government Contracts ◽  
Monetary Policies ◽  
The Past ◽  
Russian Economy ◽  
Yearly Average ◽  
Analysis And Synthesis ◽  
The Government

Subject. This article assesses the reasons why the economic policy of the Government and Central Bank of Russia does not cause the economic advance. The article tries to find out why the two strategic programmes adopted over the past ten years have not been implemented in most indicators. Objectives. The article aims to analyze the results of financial and monetary policies in Russia over the past ten years, and establish why the Russian economy has been growing within one percent yearly average all these years, and its share in the world economy has not grown, but got reduced even. Methods. For the study, we used the methods of analysis and synthesis. Results. The article proposes certain measures and activities to move to soft financial and monetary policies of the State and corresponding changes in the structure of the Russian economy. This will help ensure six to seven percent GDP growth annually. Conclusions. High loan rates have become the main obstacle to GDP growth in Russia. It is necessary to accept concrete actions and decisions concerning the Bank of Russia key rate, expansion of the functions of the Central Bank of the Russian Federation, industrial policy, support of consumer demand, long-term government contracts for the real sector enterprises, etc.

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