scholarly journals Effects of the Washington Consensus on the Macroeconomic Stability of Bosnia and Herzegovina

ECONOMICS ◽  
2016 ◽  
Vol 4 (2) ◽  
pp. 29-56
Author(s):  
Merim Kasumović ◽  
Dino Hadžialić
Keyword(s):  
Bosnia And Herzegovina ◽  
Washington Consensus ◽  
Specific Situation ◽  
Macroeconomic Indicators ◽  
Stabilization Policies ◽  
Fiscal Stabilization ◽  
The Stability ◽  
High Level ◽  
Macroeconomic Stability

Summary With regard to the specific situation and problems in Bosnia and Herzegovina this paper will analyse the effects caused by adhering to the rules of the Washington Consensus, and thus will determine to which extent they have influenced the stability of the macroeconomic indicators in Bosnia and Herzegovina and will explain how the rules affect the stability of macroeconomic indicators of Bosnia and Herzegovina. The main thesis of the Washington Consensus is that by following the measures of the same the macroeconomic situation in the country becomes more stabilised. However, stabilization often cannot sustain in the long term and this situation in the economy can be regarded as quasi-macroeconomic stability. The application of the Washington Consensus produces a quasi-macroeconomic stability of Bosnia and Herzegovina since the high level of unemployment exists due to a low inflation. Contrary to the neoliberal Washington Consensus profile, whose main goal is the maintenance of steady conditions in budgets through fiscal stabilization policies, the paper stresses the need to solve the permanent high unemployment rate as the main macroeconomic problem Bosnia and Herzegovina’s.

MACROECONOMIC STABILIZATION AND LONG-TERM GROWTH: THE ROLE OF POLICY DESIGN

2019 ◽  
pp. 1-46 ◽  
Author(s):  
Philipp Harting
Keyword(s):  
Policy Design ◽  
Theoretical Perspective ◽  
Long Term Effects ◽  
Agent Based ◽  
Stabilization Policies ◽  
Endogenous Business Cycles ◽  
The Business Cycle ◽  
Fiscal Stabilization

Do fiscal stabilization policies affect the long-term growth of the economy? If so, are the long-term effects growth enhancing or growth reducing? When addressing these questions from a theoretical perspective, the literature has typically emphasized the importance of structural aspects such as the modeling approach of endogenous technological change while paying less attention to an elaborate design of the considered fiscal stabilization policies. This paper uses an agent-based macroeconomic model that generates endogenous business cycles to emphasize the role of the policy design for long-term growth effects of stabilization policies. By comparing a demand-oriented consumption policy and two different investment subsidizing policies, it can be shown that these policies are successful in smoothing the business cycle but differ in terms of their effects on economic long-term growth. This highlights the importance of policy design for the analysis of long-term effects of stabilization policies.

Citizen Chen: a challenging test for bilateral diplomacy

2013 ◽  
Vol 3 (5) ◽  
pp. 1-9
Author(s):  
Barthélémy Michalon
Keyword(s):  
Legal Aspects ◽  
Subject Area ◽  
Chinese Government ◽  
Specific Situation ◽  
Content Type ◽  
The Us ◽  
The Usa ◽  
High Level

Subject area Diplomatic and consular policies; legal aspects of international relations and Asia regional scenario. Study level/applicability Undergraduate. Case overview In April 2012, high-level officials from China and the USA were about to meet in Beijing in the framework of the bilateral Strategic and Economic Dialogue, organized on a yearly basis. The event was always delicate, due to the ambiguous relationship existing between the two countries, which were at the same time rivals and dependent on one another. That time, the tension previous to the meeting increased significantly: a Chinese human rights activist had just sought and obtained diplomatic protection in the US Embassy in Beijing, thus creating an embarrassing situation for both States' foreign departments […] How could they possibly solve this contentious issue without affecting their already sensitive relationship? Expected learning outcomes Analytical: to be aware of the political nature of the current Chinese Government; to realize the concrete and practical implications of an Embassy's special status; to balance two contradictory objectives, in a specific situation where none of them can be fully discarded; to contrast and try to combine long-term goals (in this case, to maintain a functioning relationship between two main world powers) with short-term objectives (in this case, how to deal with a Chinese activist that required protection against his own country's security forces); to find a modus vivendi (conciliation) between values and interests; to get convinced that certain kinds of negotiations cannot be conceived through a “win or lose” approach: in this case, the only way out must be respectful of the two parties' core interests; and to take into account that image preservation (“face-saving”) must be included within any country's objectives in any situation involving diplomatic means. Conceptual: the purpose is to familiarize the students with specific concepts, such as: best alternative to a negotiated agreement (BATNA), which is to be mentioned as part of the discussion (it is not included in the case study itself); interdependence; (purported) Group of Two; asylum and refuge; Immunity; and sending state/receiving state. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email [email protected] to request teaching notes.

Long-Term Release from High Level Waste Glass - Part IV: The Effect of Leaching Mechanism

1984 ◽  
Vol 44 ◽  
Author(s):  
Eberhard Freude ◽  
Bernd Grambow ◽  
Werner Lutze ◽  
Harald Rabe ◽  
Rodney C. Ewing
Keyword(s):  
Linear Time ◽  
High Surface ◽  
High Level Waste ◽  
Corrosion Mechanism ◽  
Surface Areas ◽  
One Year ◽  
The Stability ◽  
High Level ◽  
Long Term Behavior

During the past ten years extensive data have been determined for the corrosion of nuclear waste forms in short-term laboratory experiments (usually less than one year). The long-term behavior of glass has been inferred by: (1) the acceleration of corrosion rates at high temperatures [1]; (2) the use of high surface areas of the glass to small volumes of solution [1]; and the analysis of natural glasses altered over long periods of geologic time [2, 3]. The most recent efforts have concentrated on understanding the mechanisms of corrosion [1, 4, 5]. The corrosion mechanism may be used to make long-term extrapolations of the “stability” of the waste form. In this paper, we consider a linear time dependence for the corrosion under near saturation conditions and use a rate equation in the QTERM code [6, 7, 8] to model the long-term behavior of the German glass, C-31−3EC [9], JSS A [10, 11] and SRL TDS 131 [1]. The data base for C-31−3EC has been published elsewhere [9, 12, 13, 14], and we include experimental work completed by Rabe for boron and silica, at 200°C.

scholarly journals EU PROSPECTS FOR BOSNIA AND HERZEGOVINA: BETWEEN STAGNATION AND GROWTH

2018 ◽  
pp. 21-39
Keyword(s):  
Bosnia And Herzegovina ◽  
Structural Reforms ◽  
Western Balkans ◽  
Financial Flows ◽  
The Public ◽  
Political Transformations ◽  
Macroeconomic Indicators ◽  
Western Balkan Region ◽  
Balkan Region

The aim of this paper is to point to the specificities of economic and political transformations in Bosnia and Herzegovina (B&H) and the Western Balkan in the context of economic and political changes in the global environment that can significantly affect the EU accession process. An analysis of the position of B&H in the group of Western Balkans countries and the perspective of economic growth was conducted by focusing on the political and economic criteria as well as on the current obstacles these countries are facing, specifically, based on their political and economic background and in conditions where external risks are growing. All these countries are commited to implementing structural reforms because the commitment of all the countries towards Europe, which means convergence towards the European countries and a reduction in the size of the GDP per capita. In order to achieve such long-term goals, it is necessary to implement structural reforms that will result in stimulating production, trade, financial flows and reforming the labor market and the public sector. That is why growth of investment and exports is the main determinant of long-term growth. This paper gives an overview of the basic economic features of B&H compared with the other countries that belong to Western Balkan region, as well as projections on the certain macroeconomic indicators in the forthcoming period.

scholarly journals Macroeconomic stability as the condition for Bulgaria to join the euro area

Equilibrium ◽  
2019 ◽  
Vol 14 (2) ◽  
pp. 295-315
Author(s):  
Anna Moździerz
Keyword(s):  
Euro Area ◽  
Budget Deficit ◽  
Value Added ◽  
Economic Convergence ◽  
Convergence Criteria ◽  
Macroeconomic Imbalances ◽  
Macroeconomic Indicators ◽  
The Subject ◽  
Macroeconomic Stability

Research background: The subject of research is the macroeconomic situation of Bulgaria in the context of the country's preparations for joining the euro area. In 2018, the Bulgarian government approved a plan of preparations covering the period until the end of June 2019, which assumes that the country will join the ERM II mechanism in July 2019, and the euro area on 1 January 2022. Bulgaria meets four nominal convergence criteria regarding inflation, long-term interest rate, budget deficit and public debt. The national currency is pegged to the euro under the currency board arrangement. Despite this, the implementation of this optimistic scenario may be difficult because since the 2007 crisis, the European institutions pay more attention to macroeconomic stability and the sustainability of convergence. Purpose of the article: The aim of the article is to identify the factors destabilising macroeconomic equilibrium in Bulgaria, which are a potential obstacle to the adoption of the euro by Bulgaria on schedule. Methods: The research was based on the changes in selected macroeconomic indicators, as well as on the method used by the European Commission to detect macroeconomic imbalances. The observation and analysis covered the 2007–2018 period.  Findings & Value added: The research results indicate that the low level of socio-economic convergence of Bulgaria and macroeconomic imbalances may delay its membership in the monetary union. Therefore, while respecting the country's aspirations to join the euro area, one cannot ignore the risk of another destabilisation of the euro area. 

Geodynamic aspects of high-level radioactive waste disposal: a case-study of Nizhnekansky massif

2021 ◽  
pp. 108-112
Author(s):  
V. N. Tatarinov ◽  
V. N. Morozov ◽  
A. I. Manevich ◽  
E. N. Kamnev
Keyword(s):  
Radioactive Waste ◽  
System Analysis ◽  
Radioactive Waste Disposal ◽  
Energy Concentration ◽  
Geological Environment ◽  
Tectonic Structures ◽  
High Level Radioactive Waste ◽  
The Stability ◽  
High Level

This article describes the methodological aspects and some results of the assessment and prediction of the geodynamic stability of the geological environment as applied to the problem of ensuring the safety of underground isolation of high-level radioactive waste (HLRW) in the geological formations of the Nizhnekansky massif, Krasnoyarsk Region. For this, the authors introduced a basic concept of the stability of the geological environment. Based on instrumental observations, mathematical models, system analysis of geospatial data, the ranking of structural tectonic blocks according to the degree of stability and the geodynamic zoning of the northern part of the Nizhnekansky massif were implemented. To assess the stability, the authors used geological data, a digital elevation model, the results of the interpretation of geophysical fields and geodetic observations. It is shown that the stability of the blocks differs significantly according to kinematic parameters. Geodetic observations based on GPS/GLONASS satellite systems, carried out in 2010-2019, made it possible to obtain for the first time information on the rates of horizontal movements of the lithosphere and their cyclicity for the region located in the zone of force interaction of the largest tectonic structures, namely, Siberian platform, West Siberian plate and the Altai-Sayan Orogen. The maximum speeds were recorded for points located in the zone of dynamic influence of the Muratovsky and Pravoberezhny faults. The energy concentration criteria as the fracturability characteristics of structural rock blocks are proposed for the stress–strain analysis of rock mass. To substantiate the long-term geodynamic safety of deep disposals of HLRW of the 1st and 2nd classes, the authors developed a program for the long-term observations of differentiated movements in the earth’s crust and seismic activity for 2021–2026 in an underground research laboratory. The study was carried out under the state contract between the Geophysical Center of the Russian Academy of Sciences and the Ministry of Science and Higher Education of the Russian Federation.

scholarly journals STABILITY OF SMALL BARRIER ESTUARIES: FIRST PASS ASSESSMENT USING PUBLIC DATA AND ATTRACTOR MODELLING

2020 ◽  
pp. 64
Author(s):  
Jon Hinwood ◽  
Errol McLean
Keyword(s):  
Balance Model ◽  
Eastern Coast ◽  
Data Bases ◽  
Salinity Regime ◽  
Future Evolution ◽  
Public Data ◽  
Stability Data ◽  
The Stability ◽  
High Level

Small barrier estuaries are common in temperate latitudes where catchment runoff is small. The entrance state controls the tidal exchange and hence the salinity regime and flushing. To aid the study and management of these estuaries, predictions of the stability and future evolution of the estuary entrance must be made. This paper demonstrates the application of the attractor method to determine the stability of a wide sample of estuaries on the south-eastern coast of Australia, using only data available in broad-based public data bases. The method uses a simple hydrodynamic-sediment balance model, run for thousands of scenarios and thousands of tide cycles to identify the long-term dynamic equilibria - the attractors. The model predictions are shown to match stability data in the data bases and to provide realistic predictions of the entrance evolution. The results have direct applicability to high-level assessment of coastal assets and to optimal selection of model scenarios for more detailed modelling of any selected estuary.

scholarly journals The Influence of Macroeconomic Trends on the Repayment of Loans by Households: Evidence from the Federation of Bosnia and Herzegovina and Policy Reccomendations

2016 ◽  
Vol 11 (1) ◽  
pp. 76-87
Author(s):  
Sanela Pašić ◽  
Adisa Omerbegović-Arapović
Keyword(s):  
Bosnia And Herzegovina ◽  
Banking Sector ◽  
Consumer Price Index ◽  
Loan Repayment ◽  
Banking Market ◽  
Macroeconomic Indicators ◽  
The Government ◽  
The Stability ◽  
Credit Losses

Abstract This paper explores the influence of macroeconomic indicators, namely GDP growth, the Consumer Price Index and the unemployment rate on the quality of loan repayments by households in the banking market of the Federation of Bosnia and Herzegovina. Potential influence is observed over a period of fourteen years at the level of nonperforming household loans using regression analysis. The authors aim to determine whether macroeconomic forces actually influence loan repayment, and if so how and what can be done by banks to utilize this information in order to reduce future credit losses, and by the government to maintain the stability of the banking sector.

scholarly journals Tuberculins for mammals, stability of biological properties of old Koch altuber-culin (Germany) after long-term storage

2021 ◽  
Author(s):  
A.H. Najmanov ◽  
Yu.M. Мyasoedov
Keyword(s):  
Biological Activity ◽  
Guinea Pigs ◽  
Biological Properties ◽  
Mycobacterial Infections ◽  
Long Term Storage ◽  
The Stability ◽  
High Level ◽  
Term Storage

The allergic method is the main one in the diagnosis of mycobacterial infections in humans and animals. Allergic diagnosis of mycobacterial infections is carried out us-ing tuberculin. Tuberculin was developed over a hundred years ago by the German microbiologist Robert Koch. The diagnostic properties of tuberculin have been studied in detail. This made it possible to develop various methods of using tuberculin in a clinical setting. In addition, tuberculin is still used in the study of the fundamental mechanisms of immunity. Until now, tuberculin is a valuable diagnostic tool. However, the stability of tu-berculin over a long period of time has not been studied. The article provides a historical overview of the manufacture and use of various types of tuberculins for mammals, as well as the results of our own research. Purpose of the study: to study the stability of the biological properties of altuberculin for mammals (Germany) after long-term storage. The study of stability was carried out according to the following parameters: activity, specificity, reactogenicity. The activity was studied in guinea pigs sensitized with M. bovis mycobacteria. The specificity was investigated in guinea pigs sensitized with M. avium mycobacteria. Reactogenicity was studied in non-sensitized guinea pigs. As a result of the research, it was found that alttuberculin for mammals is characterized by biological activity at the level of 8000 IU in accordance with the current active standard of activity (the value of biological activity should correspond to the range of 6600 IU - 15000 IU). Altuberculin is characterized by a low specificity at the level of 41% (the specificity value should not be more than 10%). Alttuberculin, in accordance with modern requirements for the quality of purified tuberculins, is characterized by a high level of reactogenicity (the value of reactogenicity is expressed in the development of inflammation, the size of which should not exceed 5 mm). Thus, Alttuberculin for mammals maintains the stability of biological properties with a shelf life of more than 70 years. A comparative analysis of the quality indicators of alttuberculin and purified tuberculin PPD indicates the preference of using the purified form of the allergen when conducting diagnostic studies of animals for tuberculosis.

Vivid Imagers Are Better at Detecting Salient Changes

2006 ◽  
Vol 27 (4) ◽  
pp. 218-228 ◽  
Author(s):  
Paul Rodway ◽  
Karen Gillies ◽  
Astrid Schepman
Keyword(s):  
Individual Differences ◽  
Change Detection ◽  
Visual Imagery ◽  
Detection Task ◽  
Level Of Detail ◽  
Detection Accuracy ◽  
Change Detection Task ◽  
Term Change ◽  
High Level

This study examined whether individual differences in the vividness of visual imagery influenced performance on a novel long-term change detection task. Participants were presented with a sequence of pictures, with each picture and its title displayed for 17  s, and then presented with changed or unchanged versions of those pictures and asked to detect whether the picture had been changed. Cuing the retrieval of the picture's image, by presenting the picture's title before the arrival of the changed picture, facilitated change detection accuracy. This suggests that the retrieval of the picture's representation immunizes it against overwriting by the arrival of the changed picture. The high and low vividness participants did not differ in overall levels of change detection accuracy. However, in replication of Gur and Hilgard (1975) , high vividness participants were significantly more accurate at detecting salient changes to pictures compared to low vividness participants. The results suggest that vivid images are not characterised by a high level of detail and that vivid imagery enhances memory for the salient aspects of a scene but not all of the details of a scene. Possible causes of this difference, and how they may lead to an understanding of individual differences in change detection, are considered.

Sign in / Sign up

Export Citation Format

Share Document