Exchange Rate Volatility: Does Microeconomic Policy Uncertainty Impact Exchange Rate Volatility?

This paper analyzes the impact of macroeconomic policy uncertainty on the exchange rate volatility in United States. Using newly developed measure of monetary policy uncertainty, and macroeconomic variables, I find that higher monetary policy uncertainty increases the exchange rate volatility.

Other Innovation Policies and Alternative Modelling Approaches

This chapter discusses the macroeconomic impact evaluation of other policies related to innovation. In particular, two examples are shown on the impact simulation of a reduction to firms’ entry barriers and an increase in R&D tax credits. Alternative ways of modelling these two types of policy shocks are also provided to illustrate how different modelling platforms featuring different economic mechanisms can complement each other and enrich the landscape of macroeconomic policy impact assessments.

Labour in the Technocratic Frame: Macroeconomic Policy and Wages in 1950s Australia

Though the labour market has always been central to macroeconomics, policy has usually had no instrument for intervening directly in the wage-setting process. But in the mid-twentieth century, economists commonly believed that there should be such an instrument. In 1950s Australia, it seemed that the arbitration system could potentially be used as such. This article uses Trevor Swan’s contemporary model of Australian policy in the 1950s to understand the tensions facing policy and explain why wage control seemed to be a solution. The arbitration judges began to consider macroeconomics in their decisions, and the unions adapted by presenting macroeconomic arguments of their own. In full employment conditions, labour had considerable economic power outside the tribunal, and the limitations of arbitration as an instrument of policy raised the shadow of unemployment as an alternative disciplining device.

Conclusion

The Handbook of China Innovation, through the contributions of more than sixty leading scholars in the field of China innovation and development studies, attempts to provide a contemporary, authoritative, and critical assessment of the current state of knowledge on the topic of innovation in China. This concluding section, summarizes the main findings of this Handbook, based on the insights from each of the chapters and addresses the question of whether China will become a global innovation superpower. It considers China’s past, present, and future innovation prospects from the perspectives of macroeconomic policy, institutions, microeconomic policies, and managerial initiatives, considering the roles played by both the state and the private sectors and by both domestic and international actors.

External migration and endogenous development nexus: challenges for the sustainable macroeconomic policy

El estudio identifica los vínculos entre la migración y el desarrollo endógeno, además de presentar el análisis de las áreas afectadas por los procesos migratorios, incluido el mercado laboral, la inversión, el comercio minorista y la actividad empresarial. Los modelos económicos y matemáticos del impacto de la migración en el desarrollo social (empleo, salarios, ingresos, índice de precios, gastos de los hogares) y económico (inversión extranjera, valor agregado, actividad económica extranjera, productividad laboral) se proponen y prueban con el ejemplo de las regiones occidentales de Ucrania. El estudio confirma la hipótesis de que la intensificación de la migración externa de la población tiene consecuencias tanto negativas como positivas para el desarrollo social y económico endógeno.Las medidas de la política estatal para minimizar riesgos y amenazas, y reforzar la influencia positiva de la migración en el desarrollo social y económico de las regiones de Ucrania.