FINAL PERBAIKAN EKONOMI MIKRO

-Ekonomi islam sebagai sistem perekonomian mempunyai cara dan strategis tersendiri dalam menekan inflasi yang jauh berbeda dengan sistem ekonomi lainnya. Pembangunan ekonomi siatu negara umumnya bertujuan untuk mewujudkan tingkat kesejahteraan ekonomi yang tinggi ditandai dengan penggunaan tenaga kerja penuh (full employment) berarti sedikit kapasitas pengangguran faktor produksi yang ada dalam perekonomian tersebut. Dan ada kalanya dapat menimbulkan masalah yang disebut inflasi.

Innovative development mechanisms of health care as a foundation of the social policy of the state

The social policy of a modern state should be aimed at creating conditions that ensure a decent life for a person and their free development as an individual. The most important areas of social activity of the state should be labor protection and improvement of people's health, ensuring a guaranteed minimum wage, full employment, state support for large families, students, motherhood and childhood, disabled people and pensioners. The objectives of social policy are: increasing incomes and social protection of the population; optimization of social and labor relations; improving the health of citizens; protection of motherhood and childhood and state support of the family. These factors determine the relevance ofstudying and developing methods of financing healthcare. The article pays attention to the issues of social insurance, as it is an integral part of the general insurance system. However, social insurance has a number of significant features that are determined by the requirements of social protection of citizens. Together with the state budget, significant amounts of financial resources are accumulated in social insurance funds, directed to solving problems of socio-economic development, which is reflected in this article. In the practice of healthcare financing in Kazakhstan, certain negative trends have developed, leading to inefficiency in the use of allocated budget allocations, which are emphasized in the work. Based on the results of the study, the issues of creating a stable financial base for compulsory social health insurance in the Republic of Kazakhstan are systematized.

Determinantes del empleo no pleno de los jóvenes rurales del Ecuador durante el 2020

In Ecuador, since 2017, the representativeness of full employment had been showing a decline among the number of employed persons in rural and urban areas. This structural problem joins a break in economic growth of the country and the region. In this sense, this study aims to highlight the factors that determine access to non-full employment of young people in rural areas. For this, the estimation of a probit model is carried out. The results show the need to establish differentiated policies for access to full employment for rural youth.

Debt to GDP Ratio from the Perspective of MMT

In this note we examine the debt to GDP ratio from the perspective of MMT (Modern Monetary Theory) by a simple macroeconomic model with savings by government bonds instead of money. Mainly we will show the following results. 1) In order to maintain full employment under economic growth, the budget deficit, including interest payments on government bonds, must be positive; and if the budget deficit is smaller than this value, there will be recession with involuntary unemployment. 2) Under full employment the debt to GDP ratio approaches to a finite value over time. 3) In the underemployment case the national income is determined by the budget deficit. 4) The excessive budget deficit causes inflation. 6) In order to recover full employment from recession we need budget deficit larger than that when full employment is maintained. 5) The budget deficit, including interest payments on government bonds, equals the increase of the savings of consumers between periods (generations); and this result holds whether we have full employment or not, whether we have inflation or not. Then, the ratio of the national debt to GDP in a period is smaller than one, and even if one period constitutes of several years, the debt to GDP ratio in a year is finite.

On Budget Deficit under Economic Growth: Towards a Mathematical Model of MMT

Recently, a school of thought called Modern Monetary Theory (MMT) has been attracting attention, but it has not received much theoretical or mathematical analysis. In this paper, we examine the theoretical validity of the MMT argument using an overlapping generations (OLG) model that includes economic growth due to population growth, and give a generally positive evaluation of MMT. The basic idea is that a certain level of continuous budget deficit is necessary to maintain full employment when the economy is growing, that inflation occurs when the budget deficit exceeds that level, that a recession occurs when the budget deficit falls below that level, and involuntary unemployment occurs. In order to recover from a recession, a budget deficit in excess of that level is required, and that deficit need not be covered by a future budget surplus. The same can be said for growth resulting from technological progress.

Banks and Economic Growth: A Basic Disequilibrium Model with Five Rationing Regimes

In this paper, an inductive research methodology and the principle of parsimony are applied to reconsider a central issue in economics and macro-finance, namely the determinants of economic growth and the role of the financial sector. A simple framework is derived, characterised by information imperfections and the absence of market clearing. The literature on rationing has identified the need to consider differing rationing regimes but has not included a banking sector. Such a set-up is presented in this paper, which identifies the link between credit and economic growth under differing rationing regimes, with varying consequences for inflation. The familiar case of money creation resulting in inflation features as a special case within the general framework. Others are the possibility of asset price bubbles and collapses, non-inflationary growth despite full employment, and instability in banking systems. The model is consistent with empirical evidence that has been difficult to reconcile with conventional equilibrium models. It is found that within this simple rationing framework, banks, left to their own devices, do not necessarily deliver stable, non-inflationary growth, and there is no reason to expect their behaviour to optimise social welfare. Some implications for research and policy are discussed.

Severe Maternal Morbidity among Women in the U. S. Military, 2003–2015

Objective This study aimed to assess trends and correlates of severe maternal morbidity at delivery among active duty women in the U.S. military, all of whom are guaranteed health care and full employment. Study Design Linked military personnel and medical encounter data from the Department of Defense Birth and Infant Health Research program were used to identify a cohort of delivery hospitalizations among active duty military women from January 2003 through August 2015. Cases of severe maternal morbidity were identified by applying 21- and 20-condition algorithms (with and without blood transfusion) developed by the Centers for Disease Control and Prevention. Rates (per 10,000 delivery hospitalizations) were reported overall and by specific condition. Multivariable Poisson regression models estimated associations with demographic, clinical, and military characteristics. Results Overall, 187,063 hospitalizations for live births were included for analyses. The overall 21- and 20-condition severe maternal morbidity rates were 111.7 (n = 2089) and 37.4 (n = 699) per 10,000 delivery hospitalizations, respectively. The 21-condition rate increased by 184% from 2003 to 2015; the 20-condition rate increased by 40%. Compared with non-Hispanic White women, the adjusted 21-condition rate of severe maternal morbidity was higher for Hispanic (adjusted rate ratio [aRR] = 1.28, 95% confidence interval [CI]: 1.13–1.46), non-Hispanic Black (aRR = 1.34, 95% CI: 1.21–1.49), Asian/Pacific Islander (aRR = 1.35, 95% CI: 1.13–1.61), and American Indian/Alaska Native (aRR = 1.39, 95% CI: 1.06–1.82) women. Rates also varied by age, clinical factors, and deployment history. Conclusion Active duty U.S. military women experienced an increase in severe maternal morbidity from 2003 to 2015 that followed national trends, despite protective factors such as stable employment and universal health care. Similar to other populations, military women of color were at higher risk for severe maternal morbidity relative to non-Hispanic White military women. Continued surveillance and further investigation into maternal health outcomes are critical for identifying areas of improvement in the Military Health System. Key Points

A Brief Rationale for MMT Arguments

In this note we examine MMT (Modern Monetary Theory) arguments by a simple macroeconomic model without microeconomic foundation. Mainly we will show the following results. 1) In the underemployment case the national income is determined by the budget deficit. 2) In the full employment case we can define the budget deficit which is necessary and sufficient to achieve full employment. 3) The excessive budget deficit causes inflation. 4) We need budget deficit to achieve and maintain full employment under economic growth. 5) We can recover recession by the budget deficit which is larger than that when full employment is maintained. Also, we show that the budget deficit equals the increase in the savings between generations.

Impacts of Monetary Policy on Stability of Commercial Banks – Evidence from Vietnam

Before 2009, most central banks conducted their monetary policy with the ultimate goals of promoting price stability, economic growth and full employment. However, the 2009 financial crisis demonstrated that these goals are not enough to maintain a stable financial arena. So, aside from those objectives, the objective of financial stability is also of interest to central banks when implementing monetary policy. In this study, the authors explore the influence of monetary policy on the stability of commercial banks in Vietnam – an emerging economy. The study uses the dataset of the Vietnamese commercial banks from 2008 to 2019, applying SGMM estimations and checking their robustness with a Bayesian approach. The results show that, in recent years, the SBV has effectively implemented monetary policy to ensure banks’ stability in Vietnam. In particular, money supply M2 has positively impacted the stability of commercial banks. Also, the results imply that the ratio of loan to total assets, the ratio of cost operating to income operating, as well as CPI, correlate negatively with bank stability. The study did not find any impact of bank size or GDP on bank stability during the research period. Based on these results, the SBV should manage an optimal level of money supply M2 to guarantee efficient economic operations in general and maintain bank stability in particular, and should avoid high inflation.

Estimation of labor migration impact on the economy of sending country

This paper provides a theoretical framework for estimating the labor migration impact on the economy of sending country. The overall emigration impact includes two effects, which can be calculated separately, i.e., a departure effect and a remittances effect. The departure effect causes a negative impact on the economy by decreasing autonomous consumption. The remittances effect causes a positive impact by increasing disposable income and thus internal consumption and savings and imports. Calculations include the multiplier effect. The labor emigration impact on GDP is calculated as a difference between a positive remittances effect and a negative departure effect. The analysis is conducted for countries that are not at full employment.