scholarly journals Demand effects of fiscal policy since 2008

2019 ◽  
Vol 7 (1) ◽  
pp. 57-74 ◽  
Author(s):  
Engelbert Stockhammer ◽  
Walid Qazizada ◽  
Sebastian Gechert
Keyword(s):  
Fiscal Policy ◽  
Fiscal Policies ◽  
Fiscal Multipliers ◽  
The Great Recession ◽  
The Usa ◽  
Demand Effects ◽  
The Uk ◽  
Open Question ◽  
The Impact

The Great Recession of 2007–2009 has led to controversies about the role of fiscal policy. Academically this has translated into renewed interest in the effects of fiscal policy. Several studies have since suggested that fiscal multipliers are substantially larger in downswings or depressions than in upswings. In terms of economic policy reactions, countries have differed substantially in their fiscal stance. It is an important open question how big the impact of these policies on economic growth has been. The paper uses the regime-dependent multiplier estimates by Qazizada and Stockhammer (2015) and by Gechert and Rannenberg (2014) to calculate the demand effects of fiscal policy for Germany, the USA, the UK, Greece, Ireland, Italy, Portugal and Spain since 2008. This allows us to assess to what extent fiscal policy explains different economic performances across countries. We find expansionary fiscal policy in 2008–2009 in all countries, but since 2010 fiscal policies have differed. While the fiscal effect was roughly neutral in Germany, the UK and the USA, it was large and negative in Greece, Ireland, Italy, Portugal and Spain.

scholarly journals The Impact of the Great Recession on Monetary and Fiscal Policy in Developed Market Economies

2015 ◽  
Vol 6 (1) ◽  
pp. 56-71 ◽  
Author(s):  
Damir Šehović
Keyword(s):  
Fiscal Policy ◽  
Great Recession ◽  
Fiscal Policies ◽  
Market Economies ◽  
The Great Recession ◽  
The Great Depression ◽  
Theoretical Assumptions ◽  
Monetary And Fiscal Policy ◽  
The Impact

Abstract Background: With the occurrence of the crisis in 2007, which caused the largest economic contraction since the Great Depression in the thirties, it has become evident that the previous understanding of strategies, effects and roles of monetary and fiscal policy should be redefined. Objectives: The aim of this paper is to illustrate a possible expected change in monetary and fiscal policy in developed market economies that could occur as a consequence of the Great Recession. Methods/Approach: The paper provides a comparative analysis of various primary economic variables related to the developed OECD countries, as well as the empirical testing of the selected theoretical assumptions. Results: The changes in monetary policy refer to the question of raising target inflation, considering a possible use of aggregate price level targeting and paying attention to the role of central banks in suppressing the formation of an asset bubble. The success of fiscal policy in attaining stabilization depends on the size of possible fiscal measures and creation of automatic stabilizers. Conclusions: For the most part, monetary and fiscal policies will still stay unchanged, although some segments of these policies need to be improved.

International perspectives

2020 ◽  
pp. 95-110
Author(s):  
Ian Cummins
Keyword(s):  
South Africa ◽  
Initial Period ◽  
The United States ◽  
Gauteng Province ◽  
International Perspectives ◽  
The Usa ◽  
The Uk ◽  
Fiscal Considerations ◽  
The Impact

This chapter will examine deinstitutionalisation in Italy, the United States, and post-apartheid South Africa. In examining the different drivers and outcomes of policies in these areas, similar themes to the UK experience emerge. These include: the role of scandals in the pressure for change, the role of fiscal considerations in the development of policy, an initial period of optimism and the impact of scandals. In Italy, the work of the psychiatrist, Franco Basaglia was seen as a possible blueprint for wider reforms. Basaglia’s work became very influential amongst radicals and the anti-psychiatry movement. The USA was at the forefront of the deinstitutionalisation policy. The links between the closure of psychiatric facilities and the expansion of the use of imprisonment have been most closely examined in this context. Finally, the chapter examines the total policy failure that led to the deaths of one hundred and forty-four patients in Gauteng Province, South Africa in 2014

Tanneries and Treescapes: the Influence of the Tanning Industry on Woodland Management

2018 ◽  
pp. 249-257
Author(s):  
Christine Handley ◽  
Ian D. Rotherham
Keyword(s):  
Supply And Demand ◽  
Economic Value ◽  
Economic Conditions ◽  
Tree Bark ◽  
The Usa ◽  
The Uk ◽  
The Impact ◽  
The Relationship ◽  
Tanning Industry

The relationship between supply and demand for wood, timber and bark in different markets, geographical areas, and times is complex, but there are common themes. These relationships have influenced the form, structure and management of woodlands; and their legacies can be seen today. Using examples from the UK and the USA, these common themes are considered and some complexities arising from responses to local economic conditions highlighted. Bark is sometimes described as a waste by-product of other wood and timber industries. However, it is clear that with the high economic value of the tanning industry as a whole, and the central role of leather goods in society for centuries, the impact on woodlands to ensure a ready supply of tree-bark for tanning varied but could be immense.

scholarly journals The impact of fiscal policies on corruption: A panel analysis

2018 ◽  
Vol 21 (1) ◽  
Author(s):  
Monica V. Achim ◽  
Sorin N. Borlea ◽  
Andrei M. Anghelina
Keyword(s):  
Developing Countries ◽  
Fiscal Policy ◽  
Developed Countries ◽  
Fiscal Policies ◽  
Panel Analysis ◽  
Policy Makers ◽  
The Right ◽  
Fiscal Pressure ◽  
The Impact

This article seeks to complement the previous literature and clarify whether fiscal policy plays a role in the level of corruption of a country. The present work investigates whether the increase in fiscal pressure leads to a higher level of corruption and whether the results differ from developed to developing countries. This article examines a large sample consisting of over 185 countries, during the period 2005–2014. The technique employed was short panel data. Five statistical models were used such as the pooled OLS, pooled FGLS, within model, between model and random-effects GLS model. Our main contribution consists in finding differentiated results of the influence of fiscal policy on the level of corruption among developed and developing countries. For developed countries, we found that, with high-quality institutions, low fiscal pressure leads to a lower level of corruption, which is in line with expectations. Conversely, in developing countries, with low-level institutional quality, low fiscal pressure increases corruption, because of low governance efficiency under which people may easily circumvent the law. Our findings suggest that governments and policy-makers need to acknowledge that the anti-corruption fight requires not only the right fiscal policies but also the right way of implementing these policies, recognising the role of quality institutions, which need to prevail in any country.

Evaluation of Fiscal Policy Effect of China’s Photovoltaic Industry

2018 ◽  
pp. 111-116 ◽  
Author(s):  
Gang AN ◽  
Hang WANG
Keyword(s):  
Fiscal Policy ◽  
Research And Development ◽  
Operating Performance ◽  
Fiscal Policies ◽  
Micro Data ◽  
Policy Effect ◽  
Policy Suggestions ◽  
Asset Size ◽  
The Empirical Analysis

To explore the role of fiscal policies in promoting the development of photovoltaic industry, the effects of financial subsidies on the development of China’s photovoltaic industry were analyzed by using the micro data of listed companies. The empirical analysis results in this study indicate that the fiscal policies represented by financial subsidies play a remarkable positive impetus function and financial subsidies are positively correlated with the operating performance of Photovoltaic enterprises. With larger the asset size and higher the Research and Development (R&D) investments, the operating performance of Photovoltaic enterprises is the better. Based on the above results, this study puts forward some policy suggestions on optimizing fiscal policy tools and further promoting the development of photovoltaic industry.

scholarly journals Crisis Management in Higher Education in the Time of Covid-19: The Case of Actor Training

2021 ◽  
Vol 11 (3) ◽  
pp. 132
Author(s):  
Anna McNamara
Keyword(s):  
Higher Education ◽  
Crisis Management ◽  
High Frequency ◽  
High Reliability ◽  
Actor Training ◽  
Management Actions ◽  
The Usa ◽  
The Uk ◽  
The Impact ◽  
High Frequency Words

The impact of Covid-19 placed Higher Education leadership in a state of crisis management, where decision making had to be swift and impactful. This research draws on ethea of mindfulness, actor training techniques, referencing high-reliability organisations (HRO). Interviews conducted by the author with three leaders of actor training conservatoires in Higher Education institutions in Australia, the UK and the USA reflect on crisis management actions taken in response to the impact of Covid-19 on their sector, from which high-frequency words are identified and grouped thematically. Reflecting on these high-frequency words and the thematic grouping, a model of mindful leadership is proposed as a positive tool that may enable those in leadership to recognise and respond efficiently to wider structural frailties within Higher Education, with reference to the capacity of leaders to operate with increased mindfulness, enabling a more resilient organisation that unlocks the locus of control.

Social Development and Police Reform: Some Reflections on the Concept and Purpose of Policing and the Implications for Reform in the UK and USA

2020 ◽  
Author(s):  
Andrew Williams ◽  
Craig Paterson
Keyword(s):  
Social Development ◽  
Conceptual Understanding ◽  
Critical Question ◽  
Police Reform ◽  
Liberal Democratic ◽  
The Usa ◽  
Anglo American ◽  
The Uk ◽  
Common Understanding

Abstract The increase in calls for police reform following the death of George Floyd has led to renewed debate about social inequality and the role of policing in society. Modern bureaucratic police systems emerged from locally administered structures and Anglo-American policing models continue to be aligned, to varying degrees, with the political, socio-cultural, legal, and ideological aspects of contemporary liberal democratic society with its emphasis on democratic localism and decentralised accountability. However, at a time when society is reimagining itself and technology, government, and nations are radically re-shaping themselves, a critical question is whether there is a sufficiently common philosophical and conceptual understanding of policing to support its development rather than just a common understanding of police functions. This is profoundly important when considering the current calls for reform of policing in the USA and other western democratic states. The article argues that there is an urgent need to reconsider how we conceptualize policing and its relationship with social development.

scholarly journals Three models for the regulation of polygenic scores in reproduction

2021 ◽  
pp. medethics-2020-106588
Author(s):  
Sarah Munday ◽  
Julian Savulescu
Keyword(s):  
Human Genetics ◽  
Ethical Issues ◽  
Well Being ◽  
Embryo Selection ◽  
Risk Scores ◽  
Regulatory Regime ◽  
Polygenic Scores ◽  
The Usa ◽  
The Uk ◽  
The Impact

The past few years have brought significant breakthroughs in understanding human genetics. This knowledge has been used to develop ‘polygenic scores’ (or ‘polygenic risk scores’) which provide probabilistic information about the development of polygenic conditions such as diabetes or schizophrenia. They are already being used in reproduction to select for embryos at lower risk of developing disease. Currently, the use of polygenic scores for embryo selection is subject to existing regulations concerning embryo testing and selection. Existing regulatory approaches include ‘disease-based' models which limit embryo selection to avoiding disease characteristics (employed in various formats in Australia, the UK, Italy, Switzerland and France, among others), and 'laissez-faire' or 'libertarian' models, under which embryo testing and selection remain unregulated (as in the USA). We introduce a novel 'Welfarist Model' which limits embryo selection according to the impact of the predicted trait on well-being. We compare the strengths and weaknesses of each model as a way of regulating polygenic scores. Polygenic scores create the potential for existing embryo selection technologies to be used to select for a wider range of predicted genetically influenced characteristics including continuous traits. Indeed, polygenic scores exist to predict future intelligence, and there have been suggestions that they will be used to make predictions within the normal range in the USA in embryo selection. We examine how these three models would apply to the prediction of non-disease traits such as intelligence. The genetics of intelligence remains controversial both scientifically and ethically. This paper does not attempt to resolve these issues. However, as with many biomedical advances, an effective regulatory regime must be in place as soon as the technology is available. If there is no regulation in place, then the market effectively decides ethical issues.

scholarly journals The value of psychiatrists in leadership and management

2016 ◽  
Vol 22 (4) ◽  
pp. 263-268 ◽  
Author(s):  
Jennifer Perry ◽  
Fiona L. Mason
Keyword(s):  
Social Care ◽  
Self Awareness ◽  
Management Styles ◽  
Leadership And Management ◽  
Health And Social Care ◽  
The Uk ◽  
Medical Leadership ◽  
The Impact ◽  
Organisational Level

SummaryThe health and social care landscape in the UK is changing, and there is now, more than ever, a real need for doctors to embrace leadership and management. Evidence shows that medical leadership is associated with better outcomes for patients. Psychiatrists are particularly well suited to such roles, given the interpersonal skills and self-awareness that they develop in their training. In this article, we examine the role of the psychiatrist in leading at a patient, team and organisational level and the impact this has. We also discuss different leadership and management styles.

scholarly journals Long COVID and the role of physical activity: a qualitative study

BMJ Open ◽  
2021 ◽  
Vol 11 (3) ◽  
pp. e047632
Author(s):  
Helen Humphreys ◽  
Laura Kilby ◽  
Nik Kudiersky ◽  
Robert Copeland
Keyword(s):  
Physical Activity ◽  
Qualitative Study ◽  
Lived Experience ◽  
Well Being ◽  
Telephone Interviews ◽  
Semistructured Interviews ◽  
The Usa ◽  
The Uk ◽  
Insight Into

ObjectivesTo explore the lived experience of long COVID with particular focus on the role of physical activity.DesignQualitative study using semistructured interviews.Participants18 people living with long COVID (9 men, 9 women; aged between 18–74 years; 10 white British, 3 white Other, 3 Asian, 1 black, 1 mixed ethnicity) recruited via a UK-based research interest database for people with long COVID.SettingTelephone interviews with 17 participants living in the UK and 1 participant living in the USA.ResultsFour themes were generated. Theme 1 describes how participants struggled with drastically reduced physical function, compounded by the cognitive and psychological effects of long COVID. Theme 2 highlights challenges associated with finding and interpreting advice about physical activity that was appropriately tailored. Theme 3 describes individual approaches to managing symptoms including fatigue and ‘brain fog’ while trying to resume and maintain activities of daily living and other forms of exercise. Theme 4 illustrates the battle with self-concept to accept reduced function (even temporarily) and the fear of permanent reduction in physical and cognitive ability.ConclusionsThis study provides insight into the challenges of managing physical activity alongside the extended symptoms associated with long COVID. Findings highlight the need for greater clarity and tailoring of physical activity-related advice for people with long COVID and improved support to resume activities important to individual well-being.

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