scholarly journals Macroeconomic effects of unconventional balance sheet policies in the United States and The Euro area

2020 ◽  
Vol 67 (5) ◽  
pp. 627-655
Author(s):  
Maciej Ryczkowski
Keyword(s):  
United States ◽  
Central Bank ◽  
Credit Risk ◽  
Balance Sheet ◽  
The United States ◽  
The Real ◽  
Positive Effects ◽  
Real Gdp ◽  
Long Run ◽  
Plausible Reason

Post Great Recession vector autoregression analysis revealed that the reserves? creation of the European Central Bank (ECB) until 2015 had an impact on the perceived credit risk that was either statistically insignificant or opposite to the expected one. The ECB?s unconventional measures returned the real GDP growth merely to an equilibrium of nil growth. In the United States, unconventional balance sheet policies of the Federal Reserve System (the Fed) significantly increased the real GDP by between 3.2% and 5.3% and reduced the initial rise of the perceived credit risk. We argue that the plausible reason for the discrepancy between the Fed and the ECB?s outcomes were the contrasting goals of both central banks. The major conclusion is that creation of money by the central bank may support the economy after a crisis, but it cannot deliver long-run prosperity. The positive effects of balance sheet policies were found to be short-lasting.

scholarly journals NAFTA, Social Unionism, and Labour Movement Power in Canada and the United States

2005 ◽  
Vol 49 (4) ◽  
pp. 657-695 ◽  
Author(s):  
Ian Robinson
Keyword(s):  
United States ◽  
Trade Agreement ◽  
The United States ◽  
Negative Effects ◽  
Labour Movement ◽  
Positive Effects ◽  
The North ◽  
Long Run ◽  
Short Run ◽  
Negative Impacts

This paper considers how the North American Free Trade Agreement (NAFTA) is likely to affect labour movement power in Canada and the United States. The paper is divided into four parts. It first defines the concept of « labour movement power », breaking it down into its component parts. It next considers why we should care about what happens to labour movement power. It then outlines the principal negative and positive effects that the NAFTA is likely to have on labour movement power. Attention is also given to the beneficial consequences that the fight against the NAFTA has already had for the labour movement. It is argued that the NAFTA 's negative impacts are likely to outweight its positive ones in the short run and that the positive effects could substantially outweight its negative effects over the medium to long run. Whether it does will depend upon choices made in the next few years by labour movement leaders and activists.

Menelaah Lebih Dekat “Post Factual/Post Truth Politics, Studi Kasus Brexit” (Analsis Resensi Media)

2017 ◽  
Vol 1 (1) ◽  
Author(s):  
Eko Wahyono ◽  
Rizka Amalia ◽  
Ikma Citra Ranteallo
Keyword(s):  
United States ◽  
Mass Media ◽  
New Media ◽  
The United States ◽  
The Political ◽  
Political Struggle ◽  
The Real ◽  
The Mass Media ◽  
The Uk ◽  
The Way

This research further examines the video entitled “what is the truth about post-factual politics?” about the case in the United States related to Trump and in the UK related to Brexit. The phenomenon of Post truth/post factual also occurs in Indonesia as seen in the political struggle experienced by Ahok in the governor election (DKI Jakarta). Through Michel Foucault's approach to post truth with assertive logic, the mass media is constructed for the interested parties and ignores the real reality. The conclusion of this study indicates that new media was able to spread various discourses ranging from influencing the way of thoughts, behavior of society to the ideology adopted by a society.Keywords: Post factual, post truth, new media

The Impact of Monetary and Fiscal Policies on the Stock Market in the United States (U.S); Evidence from Linear ARDL Framework

2020 ◽  
Vol 11 (1) ◽  
pp. 132-132
Author(s):  
Aref Emamian
Keyword(s):  
United States ◽  
Stock Market ◽  
The United States ◽  
Real Effective Exchange Rate ◽  
Annual Data ◽  
Fiscal Policies ◽  
Long Run ◽  
The Us ◽  
Short Run ◽  
The Impact

This study examines the impact of monetary and fiscal policies on the stock market in the United States (US), were used. By employing the method of Autoregressive Distributed Lags (ARDL) developed by Pesaran et al. (2001). Annual data from the Federal Reserve, World Bank, and International Monetary Fund, from 1986 to 2017 pertaining to the American economy, the results show that both policies play a significant role in the stock market. We find a significant positive effect of real Gross Domestic Product and the interest rate on the US stock market in the long run and significant negative relationship effect of Consumer Price Index (CPI) and broad money on the US stock market both in the short run and long run. On the other hand, this study only could support the significant positive impact of tax revenue and significant negative impact of real effective exchange rate on the US stock market in the short run while in the long run are insignificant. Keywords: ARDL, monetary policy, fiscal policy, stock market, United States

scholarly journals House prices and credit risk: Evidence from the United States

2015 ◽  
Vol 51 ◽  
pp. 123-135 ◽  
Author(s):  
Mohammad Tajik ◽  
Saeideh Aliakbari ◽  
Thaana Ghalia ◽  
Sepideh Kaffash
Keyword(s):  
United States ◽  
Credit Risk ◽  
House Prices ◽  
The United States

The Impact of Energy on the Adoption of Conservation Tillage in the United States

1998 ◽  
Vol 9 (5) ◽  
pp. 549-568
Author(s):  
Noel D. Uri
Keyword(s):  
United States ◽  
Crude Oil ◽  
Conservation Tillage ◽  
The United States ◽  
Structural Instability ◽  
Special Importance ◽  
The Real ◽  
Real Price ◽  
The Impact ◽  
The Relationship

The impact of energy on the adoption of conservation tillage is of special importance in addressing concerns about the effect of agricultural production on the environment in the United States. It is the subject of this paper. After establishing that a relationship exists between the price of energy and the adoption of conservation tillage via cointegration techniques, the relationship is quantified. It is shown that while the real price of crude oil, the proxy used for the price of energy, does not affect the rate of adoption of conservation tillage, it does impact the extent to which it is used. Finally, there is no structural instability in the relationship between the relative use of conservation tillage and the real price of crude oil over the period 1963 to 1997.

scholarly journals The world market for soybeans: price transmission into Brazil and effects from the timing of crop and trade

Nova Economia ◽  
2007 ◽  
Vol 17 (2) ◽  
pp. 241-270 ◽  
Author(s):  
Mario A. Margarido ◽  
Frederico A. Turolla ◽  
Carlos R. F. Bueno
Keyword(s):  
United States ◽  
Forecast Error ◽  
The United States ◽  
World Market ◽  
Price Transmission ◽  
Long Run ◽  
Cointegration Tests ◽  
The World ◽  
The Law ◽  
The One

This paper investigates the price transmission in the world market for soybeans using time series econometrics models. The theoretical model developed by Mundlack and Larson (1992) is based on the Law of the One Price, which assumes price equalization across all local markets in the long run and allows for deviations in the short run. The international market was characterized by three relevant soybean prices: Rotterdam Port, Argentina and the United States. The paper estimates the elasticity of transmission of these prices into soybean prices in Brazil. There were carried causality and cointegration tests in order to identify whether there is significant long-term relationship among these variables. There was also calculated the impulse-response function and forecast error variance decomposition to analyze the transmission of variations in the international prices over Brazilian prices. An exogeneity test was also carried out so as to check whether the variables respond to short term deviations from equilibrium values. Results validated the Law of the One Price in the long run. In line with many studies, this paper showed that Brazil and Argentina can be seen as price takers as long as the speed of their adjustment to shocks is faster than in the United States, the latter being a price maker.

United States Strategic Interests in Latin America: An Assessment

1997 ◽  
Vol 39 (1) ◽  
pp. 45-57 ◽  
Author(s):  
Albert R. Coll
Keyword(s):  
United States ◽  
Latin America ◽  
The United States ◽  
Second World War ◽  
Economic Prosperity ◽  
World War ◽  
Long Run ◽  
The Us ◽  
Areas Of Concern ◽  
Second World

As of 1997, the United States faces an unprecedented degree of security, stability, and economic prosperity in its relations with Latin America. Never before have US strategic interests in Latin America been as well-protected or have its prospects seemed, at least on the surface, so promising. Yet while the US strategic interests are in better shape — militarily, politically, and economically — this decade than at any time since the end of the Second World War, some problems remain. Over the long run, there is also the risk that old problems, which today seem to have ebbed away, will return. Thus, the positive tone of any contemporary assessment must be tempered with an awareness of remaining areas of concern as well as of possible future crises.

scholarly journals INTERVENSI KEBIJAKAN MONETER TERHADAP INVESTASI PORTOFOLIO: KASUS INDONESIA DAN AMERIKA SERIKAT

2020 ◽  
Vol 2 (1) ◽  
pp. 1
Author(s):  
Nanda Alfarina ◽  
Hasdi Aimon
Keyword(s):  
United States ◽  
Interest Rate ◽  
Secondary Data ◽  
The United States ◽  
Portfolio Investment ◽  
Mechanism Analysis ◽  
Long Run ◽  
Negative Effect ◽  
The Difference ◽  
Effect Of Monetary Policy

This study aims to determine the effect of monetary policy measured by the central bank’s policy rate (X1) on portfolio investment (Y) in Indonesia and United States in the long run. The data used are secondary data seouced from SEKI BI, FRED The FEd, coinmarketcap.com, and investing.com, with the VECM (Vector Error Correction Mechanism) analysis methode. The study show The study shows the differences between the results that occur in Indonesia and the United States. The policy interest rate has a significant positive effect on portfolio investment in the long run in Indonesia, while in the United States the interest rate in the long run has a significant negative effect on portfolio investment. The difference in research results between the two countries shows the need for different treatment for monetary authorities in encouraging portfolio investment 

scholarly journals Neither a New Cold War nor a New Peloponnesian War: The Emerging Cyber-narrative Competition at the Heart of Sino-American Relations

2021 ◽  
Vol 21 (2) ◽  
pp. 252-264
Author(s):  
Nicholas Ross Smith ◽  
Ruairidh J. Brown
Keyword(s):  
United States ◽  
Cold War ◽  
Real World ◽  
The United States ◽  
Peloponnesian War ◽  
The Real ◽  
Current State ◽  
Thucydides Trap ◽  
The Relationship ◽  
Industrial Revolutions

There is much pessimism as to the current state of Sino-American relations, especially since the onset of the COVID-19 pandemic in January 2020. Such pessimism has led to some scholars and commentators asserting that the Sino-American relationship is on the cusp of either a new Cold War or, even more alarmingly, something akin to the Peloponnesian War (via a Thucydides Trap) whereby the United States might take pre-emptive measures against China. This article rejects such analogizing and argues that, due to important technological advancements found at the intersection of the digital and fourth industrial revolutions, most of the real competition in the relationship is now occurring in cyberspace, especially with regards to the aim of asserting narratives of truth. Two key narrative battlegrounds that have raged since the onset of the COVID-19 pandemic are examined: where was the origin of the COVID-19 pandemic? and who has had the most successful response to the COVID-19 pandemic?. This article shows that Sino-American competition in cyberspace over asserting their narratives of truth (related to the COVID-19 pandemic) is fierce and unhinged. Part of what is driving this competition is the challenging domestic settings politicians and officials find themselves in both China and the United States, thus, the competing narratives being asserted by both sides are predominately for domestic audiences. However, given that cyberspace connects states with foreign publics more intimately, the international aspect of this competition is also important and could result in further damage to the already fragile Sino-American relationship. Yet, whether this competition will bleed into the real world is far from certain and, because of this, doomsaying via historical analogies should be avoided.

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