Monetary and Fiscal Policy Analysis With an Agent-Based Macroeconomic Model

2008 ◽  
Vol 228 (2-3) ◽  
Author(s):  
Gottfried Haber
Keyword(s):  
Public Sector ◽  
Fiscal Policy ◽  
Policy Analysis ◽  
Macroeconomic Policy ◽  
Formation Mechanisms ◽  
Agent Based Models ◽  
Agent Based ◽  
Expectation Formation ◽  
The Public ◽  
High Level

SummaryMacroeconomic policy analysis is a challenge for agent-based models because these types of model are generally much elaborated on the specific market levels for partial (micro) markets, but have been of limited use for macroeconomic policy issues due to calibration and “model closure” issues.Moreover, macroeconomic policy measures at a high level of aggregation, such as general fiscal policy and monetary policy, tend to include several microeconomic aspects determined by the macroeconomic policy makers (i.e. the specific process of money transmission, budget constraints within/for the public sector, etc.), which are not usually captured by agent-based models with an emphasis on microfoundation. Thus, a fully-specified macroeconomic agent-based model, AS1, is applied in this paper. Specifically, the monetary sector is modeled in detail, and both the central bank and the public sector are set up as separate agents with their own expectations and behavior. The paper has two aims: (a) to show that economic policy may be analyzed in this context with more elaborate expectation formation mechanisms than in traditional models, and (b) to demonstrate that this might change the assessment of policy effectiveness. Two illustrative examples for monetary and fiscal policies are presented with different levels of rationality and differences in the expectation formation process.

A Smarter Fight Against Corruption

Contexts ◽  
2021 ◽  
Vol 20 (2) ◽  
pp. 63-65
Author(s):  
Marina Zaloznaya ◽  
Freda B. Lynn
Keyword(s):  
Public Sector ◽  
Socially Responsible ◽  
The Public ◽  
The World ◽  
High Level

According to a recent study, in forty-eight countries around the world, more than a quarter of citizens pays bribes in exchange for service. In this article, the authors suggest that a key to a more effective and socially responsible fight against corruption lies in sequencing. Here, they explain how initiatives targeting high-level corruption in government and business must take priority, preceding the reforms of the public sector.

scholarly journals Factors Influencing the Success of ERP System Implementation in the Public Sector in the Kingdom of Bahrain

2016 ◽  
Vol 8 (12) ◽  
pp. 21 ◽  
Author(s):  
Omar Mohamed Bukamal ◽  
Rami Mohammad Abu Wadi
Keyword(s):  
Public Sector ◽  
Critical Success Factors ◽  
Success Factors ◽  
System Implementation ◽  
Erp System ◽  
The Public ◽  
Critical Success ◽  
Management Commitment ◽  
Top Management Commitment ◽  
High Level

<p>This study aims empirically to analyze the critical factors that impact the success of ERP system implementation in the public sector in the Kingdom of Bahrain and to clarify the benefits gained from the implementation. The study used a detailed questionnaire as a measuring instrument across the sample group to measure two main variables, the first being critical success factors (CSFs), and the second whether ERP implementation was successful or not. The CSFs are top management commitment and support, ERP system matching organization, business process re-engineering, vendor support, and training users.</p>Those factors found to have a significant impact on ERP system implementation and the results illuminate the high level of success in implementing ERP systems. While simultaneously demonstrating that an organization with a functioning ERP system does not achieve the desired benefits by default, but rather the organization requires certain Critical Success Factors (CSFs) to be present and in effect for those benefits to be achieved.

A Process Model for Successful E-Government Adoption in the Least Developed Countries

2012 ◽  
pp. 341-369
Author(s):  
Ahmed Imran ◽  
Shirley Gregor
Keyword(s):  
Public Sector ◽  
Process Model ◽  
Developed Countries ◽  
Theoretical Development ◽  
Least Developed Countries ◽  
Developed Country ◽  
The Public ◽  
Key Stakeholders ◽  
Information And Communication ◽  
High Level

Least developed countries (LDCs), have been struggling to find a workable strategy to adopt information and communication technology (ICT) and e-government in their public sector organizations. Despite a number of high-level initiatives at national and international levels, the progress is still unsatisfactory in this area. Consequently, the countries are failing to keep pace in the global e-government race, further increasing the digital divide. This chapter reports on an exploratory study in a least developed country, Bangladesh, involving a series of focus groups and interviews with key stakeholders. A lack of knowledge and entrenched attitudes and mindsets are seen as the key underlying contributors to the lack of progress. The analysis of the relationships among the major barriers to progress led to a process model, which suggests a pathway for e-government adoption in an LDC such as Bangladesh. The chapter introduces important directions for the formulation of long-term strategies for the successful adoption of ICT in the public sector of LDCs and provides a basis for further theoretical development.

Performance Measurement and E-Reporting

2012 ◽  
pp. 544-560
Author(s):  
Kathryn Kloby
Keyword(s):  
Public Sector ◽  
Performance Measurement ◽  
Government Performance ◽  
Limited Information ◽  
Agency Staff ◽  
Data Manipulation ◽  
The Public ◽  
Measurement Systems ◽  
Performance Measurement Systems ◽  
High Level

Public sector performance measurement systems are often designed by high-level administrators and agency staff. In many instances performance reports are treated as internal documents or provide limited information of how government actions impact the lives of citizens or fall short of expectations. Performance measurement and reporting approaches, however, are gradually changing to include citizens in the process and to communicate results in a more robust way to the public. This chapter explores the topic of e-reporting and the potential it offers to engage the public in the assessment of government performance. Three exemplary programs are examined: Virginia Performs, Maryland’s BayStat, and King County AIMs High. Each offers useful techniques for describing program objectives, showing government progress, making data available, and exploring interactive mechanisms that support data manipulation or customization. The chapter concludes with a discussion of future areas of research.

scholarly journals Macroeconomic Policy in DSGE and Agent-Based Models

2012 ◽  
Vol 124 (5) ◽  
pp. 67 ◽  
Author(s):  
Giorgio Fagiolo ◽  
Andrea Roventini
Keyword(s):  
Macroeconomic Policy ◽  
Agent Based Models ◽  
Agent Based

scholarly journals Public Sector Transformation in the Digital Age: Obstacles and Challenges for the Government of Indonesia

2019 ◽  
pp. 75
Author(s):  
Putri Hening ◽  
Gozali Harda Kumara
Keyword(s):  
Public Sector ◽  
Information Dissemination ◽  
Policy Formulation ◽  
The Public ◽  
Indonesian Government ◽  
Security Issues ◽  
Digital Era ◽  
Technological Developments ◽  
The Government ◽  
High Level

The world has now entered the digital era. Rapid technological developments spur the transformation from the manual era to the digital era. A series of trends in this era are present such as high-level usage of the internet, the birth of social networks, the development of various applications, and fast amount of information dissemination. This trend has brought a series of changes to various sector including the public sector. The presence of digital tools in this era has changed the way Indonesian government in providing public services. This era has also changed the community's approach to interact with the government through online platforms. The transformation into the digital era also influences the process of drafting public policies, from the agenda settings, policy formulation, implementation, until evaluation. Privacy and data security issues are also present in this era. This paper analyzes how the digital era has transformed the public sector in Indonesia and the obstacles and challenges faced by the Indonesian government. This paper will also provide recommendations to overcome these obstacles and challenges. This research is conducted by using qualitative and quantitative method. In analyzing data, researcher do three simultaneously activities based on Miles and Huberman model.  

scholarly journals Integrative literature review of the financial fragility hypothesis proposed by Minsky

2021 ◽  
Author(s):  
Cláudio Caríssimo ◽  
Francisval Melo Carvalho ◽  
carlos eduardo Stefaniak Aveline ◽  
Mozar José de Brito ◽  
rafaela maiara caetano
Keyword(s):  
Public Sector ◽  
Fiscal Policy ◽  
Literature Review ◽  
Interest Rates ◽  
Cash Flow ◽  
Empirical Studies ◽  
Financial Fragility ◽  
Financial Instability ◽  
The Public ◽  
Theoretical Assumptions

<p>This paper conducts an Integrative Literature Review on the Financial Fragility Hypothesis presented by Minsky and on Financial Fragility Applied to the Public Sector. Twenty papers were chosen that addressed the proposed theme in both quantitative and qualitative procedures. The topics discussed ways of measuring financial fragility, effects on fiscal policy and need for regulation, relations between investment, cash flow expectations, the influence of interest rates and indebtedness on firms, and financial instability. The integration reinforced the conceptual aspects and propositions presented by Minsky, broadening in an integrated way the understanding of his theoretical assumptions regarding financial fragility, addressing the causes, observations, and economic and institutional consequences, in addition to signaling for insufficiencies of more empirical studies and the public sector.</p>

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