scholarly journals Fiscal Multipliers and Foreign Holdings of Public Debt

2021 ◽  
Author(s):  
Fernando Broner ◽  
Daragh Clancy ◽  
Aitor Erce ◽  
Alberto Martin
Keyword(s):  
Public Debt ◽  
Crowding Out ◽  
Fiscal Multiplier ◽  
Fiscal Multipliers ◽  
Natural Connection ◽  
Advanced Economies ◽  
The Us ◽  
Policy Shocks ◽  
Post War ◽  
The U.S

Abstract This paper explores a natural connection between fiscal multipliers and foreign holdings of public debt. Although fiscal expansions can raise domestic economic activity through various channels, they can also have crowding-out effects if the resources used to acquire public debt reduce domestic consumption and investment. These crowding-out effects are likely to be weaker when governments have access to foreign savings when selling their debt. We test this hypothesis for the US in the post-war period and for a panel of 17 advanced economies from the 1980s to the present. To do so, we assemble a novel database of public debt holdings by domestic and foreign creditors for these countries. We combine this data with standard measures of fiscal policy shocks and show that, indeed, the size of fiscal multipliers is increasing in the share of public debt held by foreigners. In particular, the fiscal multiplier is smaller than one when the foreign share is low, such as in the U.S. in the 1950s and 1960s and Japan today, and larger than one when the foreign share is high, such as in the U.S. and Ireland today.

Public debt and macroeconomic activity: a predictive analysis for advanced economies

2016 ◽  
Vol 20 (3) ◽  
Author(s):  
Deniz Baglan ◽  
Emre Yoldas
Keyword(s):  
Public Debt ◽  
Linear Models ◽  
Predictive Analysis ◽  
Debt Ratio ◽  
Finite Sample ◽  
Weak Support ◽  
Sample Bias ◽  
Advanced Economies ◽  
Post War ◽  
Finite Sample Bias

AbstractUsing post-war data on advanced economies, we find that a higher public debt ratio predicts marginally slower GDP growth under the assumption of a linear relationship. This result is robust to strong persistence in debt ratio, which may cause finite sample bias in estimation and inference. In the nonlinear framework, we find only weak support for piece-wise linear models that explicitly incorporate the idea of a debt

Problems of the US Economic Policy

2013 ◽  
pp. 129-143
Author(s):  
V. Klinov
Keyword(s):  
Economic Policy ◽  
Real Estate ◽  
Full Employment ◽  
Tax Rates ◽  
Equitable Distribution ◽  
Investment Rate ◽  
The Us ◽  
Budget Systems ◽  
Enterprise Activity ◽  
The U.S

How to provide for full employment and equitable distribution of incomes and wealth are the keenest issues of the U.S. society. The Democratic and the Republican Parties have elaborated opposing views on economic policy, though both parties are certain that the problems may be resolved through the reform of the federal tax and budget systems. Globalization demands to increase incentives for labor and enterprise activity and for savings to secure proper investment rate. Tax rates for labor and enterprise incomes are to be low, but tax rates for consumption, real estate and land should be progressive.

The Unassailable Self: Freud's Image Among Post-war American Intellectuals

2017 ◽  
Vol 19 (1) ◽  
pp. 55-75 ◽  
Author(s):  
Katherine Jenness
Keyword(s):  
World War Ii ◽  
Cold War ◽  
External Force ◽  
Sigmund Freud ◽  
Human Being ◽  
World War ◽  
The Us ◽  
Post War ◽  
The Cold War ◽  
The Way

This paper explores the way American intellectuals depicted Sigmund Freud during the peak of popularity and prestige of psychoanalysis in the US, roughly the decade and a half following World War II. These intellectuals insisted upon the unassailability of Freud's mind and personality. He was depicted as unsusceptible to any external force or influence, a trait which was thought to account for Freud's admirable comportment as a scientist, colleague and human being. This post-war image of Freud was shaped in part by the Cold War anxiety that modern individuality was imperilled by totalitarian forces, which could only be resisted by the most rugged of selves. It was also shaped by the unique situation of the intellectuals themselves, who were eager to position themselves, like the Freud they imagined, as steadfastly independent and critical thinkers who would, through the very clarity of their thought, lead America to a more robust democracy.

Palestine Unbound

2018 ◽  
Vol 47 (3) ◽  
pp. 130-134
Keyword(s):  
United States ◽  
Human Rights ◽  
Task Force ◽  
The United States ◽  
Donald Trump ◽  
Tel Aviv ◽  
The Us ◽  
Intention To Move ◽  
Arab Israeli Conflict ◽  
The U.S

This section, updated regularly on the blog Palestine Square, covers popular conversations related to the Palestinians and the Arab-Israeli conflict during the quarter 16 November 2017 to 15 February 2018: #JerusalemIstheCapitalofPalestine went viral after U.S. president Donald Trump recognized Jerusalem as the capital of Israel and announced his intention to move the U.S. embassy there from Tel Aviv. The arrest of Palestinian teenager Ahed Tamimi for slapping an Israeli soldier also prompted a viral campaign under the hashtag #FreeAhed. A smaller campaign protested the exclusion of Palestinian human rights from the agenda of the annual Creating Change conference organized by the US-based National LGBTQ Task Force in Washington. And, UNRWA publicized its emergency funding appeal, following the decision of the United States to slash funding to the organization, with the hashtag #DignityIsPriceless.

Is bigger more effective? shock size and the efficacy of monetary policy

2021 ◽  
pp. 1-10
Author(s):  
Toyoichiro Shirota
Keyword(s):  
Monetary Policy ◽  
Projection Method ◽  
Monetary Policy Shocks ◽  
Information Effect ◽  
Local Projection ◽  
Policy Effects ◽  
Potential Source ◽  
The Us ◽  
Policy Shocks ◽  
Us Monetary Policy

Abstract This study empirically examines whether shock size matters for the US monetary policy effects. Using a nonlinear local projection method, I find that large monetary policy shocks are less powerful than smaller monetary policy shocks, with the information effect being the potential source of the observed asymmetry in monetary policy efficacy.

scholarly journals An Exploratory Study of Research Data Governance in the U.S.

2020 ◽  
Vol 4 (1) ◽  
pp. 122-142
Author(s):  
Inna Kouper ◽  
Anjanette H Raymond ◽  
Stacey Giroux
Keyword(s):  
Decision Making ◽  
Exploratory Study ◽  
Research Data ◽  
Science And Society ◽  
Data Governance ◽  
Knowledge Commons ◽  
Multiple Voices ◽  
The Us ◽  
The Commons ◽  
The U.S

AbstractMaking decisions regarding data and the overall credibility of research constitutes research data governance. In this paper, we present results of an exploratory study of the stakeholders of research data governance. The study was conducted among individuals who work in academic and research institutions in the US, with the goal of understanding what entities are perceived as making decisions regarding data and who researchers believe should be responsible for governing research data. Our results show that there is considerable diversity and complexity across stakeholders, both in terms of who they are and their ideas about data governance. To account for this diversity, we propose to frame research data governance in the context of polycentric governance of a knowledge commons. We argue that approaching research data from the commons perspective will allow for a governance framework that can balance the goals of science and society, allow us to shift the discussion toward protection from enclosure and knowledge resilience, and help to ensure that multiple voices are included in all levels of decision-making.

The World Bank and the politics of productivity: the debate on economic growth, poverty, and living standards in the 1950s

2011 ◽  
Vol 6 (1) ◽  
pp. 53-74 ◽  
Author(s):  
Michele Alacevich
Keyword(s):  
Economic Growth ◽  
International Organizations ◽  
Social Issues ◽  
Living Standards ◽  
Bretton Woods ◽  
The World Bank ◽  
Development Agenda ◽  
The Us ◽  
Multilateral Organizations ◽  
Post War

AbstractAccording to most reconstructions of development debates, poverty and social issues were not part of the development agenda until the late 1960s. In contrast, this article shows that development practitioners and institutions were already addressing poverty and social issues in the late 1940s and early 1950s. However, economic multilateral organizations soon marginalized those inclusive views and focused exclusively on economic growth. This article discusses those early policy options and why they were marginalized. It argues that this happened for ideological reasons, specifically because of the ideological anti-New Deal post-war backlash and the adhesion of Western countries and multilateral organizations to what Charles Maier defined as the politics of productivity. This ideological backlash explains the rise and early demise of Keynesian ideas in international organizations, and, conversely, their stronger influence in developing countries, where the direct influence of the US and Bretton Woods organizations was somewhat mitigated.

scholarly journals Mid-century Modern Jazz: Music and Design in the Postwar Home

Popular Music ◽  
2016 ◽  
Vol 36 (1) ◽  
pp. 55-74
Author(s):  
Tom Perchard
Keyword(s):  
Middle Class ◽  
Historical Sociology ◽  
Living Room ◽  
Historical Method ◽  
Modern Jazz ◽  
Jazz Music ◽  
The Us ◽  
Post War ◽  
The Uk ◽  
Cover Art

AbstractThis article takes an imagined, transnational living room as its setting, examining jazz's place in representations of the ‘modern’ middle-class home across the post-war West, and exploring the domestic uses that listeners both casual and committed made of the music in recorded form. In magazines as apparently diverse asIdeal Homein the UK andPlayboyin the US, a certain kind of jazz helped mark a new middlebrow connoisseurship in the 1950s and 60s. Yet rather than simply locating the style in a historical sociology of taste, this piece attempts to describe jazz's role in what was an emergent middle-class sensorium. The music's sonic characteristics were frequently called upon to complement the newly sleek visual and tactile experiences – of furniture, fabrics, plastics, the light and space of modern domestic architecture – then coming to define the aspirational bourgeois home; an international modern visual aesthetic was reflected back in jazz album cover art. But to describe experience or ambience represents a challenge to historical method. As much as history proper, then, it's through a kind of experimental criticism of both music and visual culture that this piece attempts to capture the textures and moods that jazz brought to the postwar home.

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