Public Sector Shock
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Public Sector Shock
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Author : Daniel Vaughan-Whitehead
language : en
Publisher: Edward Elgar Publishing
Release Date : 2013-01-01
Public Sector Shock written by Daniel Vaughan-Whitehead and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-01 with Business & Economics categories.
ÔThis is a fascinating, rich and comprehensive analytical account of the causes and consequences of austerity measures affecting the public sector in terms of pay and employment. The editors have assembled a broad array of contributions that really reflect the diversity within Europe, both in terms of how deep the financial crisis hit, and the drivers of public sector reforms. An absorbing and thought-provoking read.Õ Ð Jacqueline OÕReilly, University of Brighton, UK After a first series of policy responses to the 2008Ð09 crisis aimed at sustaining domestic demand through expansionary anti-crisis packages, most European governments Ð starting with Greece, Ireland, Bulgaria and Romania, and followed by many others Ð have since put in place a series of restrictive budgetary policies aimed at reducing their budget deficits. With these new policies, a significant number of jobs and wages have been cut in the public sector. A number of expenditure items related to education and training have also been cut. These reforms have given rise to waves of protest throughout Europe. The goal of this volume is to study this Ôpublic sector shockÕ. While budgetary reforms seek to ensure a more balanced and sound economic policy, they may generate new work inequalities among public sector employees, most particularly among women, who account for a considerable proportion of public sector employment. Cuts in education and training may also have an impact on the quality of human capital in both the public and private sectors, despite the fact that the recent crisis has shown the value of education as employees with better skills and training are more likely to maintain their jobs and incomes. The authors explore a number of questions, including: what types of reform have been implemented in the public sector and what are their implications in both the short and long term? On the economic side, what will be the impact on wages, and on job quantity and quality? On the social side, what will the effects be on inequality and social cohesion? And what will be the outcome for, and potential role of, social partners and social dialogue? On the basis of a comparative and comprehensive assessment, illustrated by case studies in education, health and public administration, policy issues are discussed with the aim of finding the right mix of public sector reforms.
Policy Towards Commodity Shocks In Developing Countries
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Author : Mr.Paul Collier
language : en
Publisher: International Monetary Fund
Release Date : 1996-08
Policy Towards Commodity Shocks In Developing Countries written by Mr.Paul Collier and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-08 with Business & Economics categories.
On the basis of a comparative study of 23 episodes involving commodity price shocks we find that both the public and private sectors typically save around half of a windfall gain resulting from a price rise. We argue that private windfalls should be left with the private sector rather than taxed. The focus of policy towards windfalls should be monetary rather than fiscal. The central bank should accommodate aggregate changes in the demand for financial assets. The private sector will initially wish to increase its claims on the central bank as it saves the windfall, but will then reduce them as portfolios are switched into real assets.
The Public Sector And The Latin American Crisis
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Author : Felipe Larraín B.
language : en
Publisher:
Release Date : 1991
The Public Sector And The Latin American Crisis written by Felipe Larraín B. and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Debts, External categories.
Covers the period from 1970 to 1985.
Achieving Price Financial And Macro Economic Stability In South Africa
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Author : Nombulelo Gumata
language : en
Publisher: Springer Nature
Release Date : 2021-05-27
Achieving Price Financial And Macro Economic Stability In South Africa written by Nombulelo Gumata and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-27 with Business & Economics categories.
This book explores the macro-financial effects of central bank balance sheets, macro-prudential tools, and financial regulation in South Africa. How employment can be maximised while keeping inflation low and stable is examined in relation to the structural changes required to alter the composition of South African bank balance sheets. Quantitative methods and approaches are utilised to highlight the impact of suggested policies. This book aims to outline strategies and policy interventions that can help achieve the National Development Plan in South Africa. It will be of interest to researchers and policymakers working within development economics, African economics, development finance, and financial policy.
Policy Shock
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Author : Edward J. Balleisen
language : en
Publisher: Cambridge University Press
Release Date : 2017-11-02
Policy Shock written by Edward J. Balleisen and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-02 with Business & Economics categories.
In this book, compelling case studies show how past crises have reshaped regulation, and how policy-makers can learn from crises in the future.
Global Shocks And The New Global And Regional Financial Architecture
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Author : Naoyuki Yoshino
language : en
Publisher:
Release Date : 2018
Global Shocks And The New Global And Regional Financial Architecture written by Naoyuki Yoshino and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Business & Economics categories.
Asian economies continue to be subject to new shocks: US monetary policy tightening, the adoption of negative-interest-rate policies by central banks all over the world, the slowdown of the People's Republic of China, and the sharp drop in oil and other commodity prices. All these highlight the vulnerability of the region to volatile trade and capital flows even as the global and Asian regional financial architecture evolves. This volume analyzes the vulnerabilities of Asian economies to external economic and financial shocks and assesses the performance of Asian regional institutions in financial surveillance and cooperation. It also evaluates ongoing reforms of the global financial architecture, including the International Monetary Fund (IMF), the Financial Stability Board, and reviews the experience of the "Troika" (European Commission, European Central Bank, and the IMF) in managing the European sovereign debt and banking crisis. Based on these, the book develops valuable recommendations to strengthen the Asian regional financial architecture and improve cooperation with global multilateral institutions.
Who Bore The Brunt Of The Pandemic In Europe Shifting Private Stress To The Public Sector
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Author :
language : en
Publisher: International Monetary Fund
Release Date : 2021-07-15
Who Bore The Brunt Of The Pandemic In Europe Shifting Private Stress To The Public Sector written by and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-15 with Business & Economics categories.
In Europe, the severe human toll of the COVID-19 pandemic was compounded by the deepest fall in economic activity in modern history. Yet this huge decline in output did surprisingly little damage to the aggregate financial balance sheets of firms and households. This paper discusses how unprecedented policy support transferred private sector income losses to the public sector’s balance sheet and contrasts this experience to that of the global financial crisis.
Finland S Public Sector Balance Sheet
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Author : Maren Brede
language : en
Publisher: International Monetary Fund
Release Date : 2018-04-06
Finland S Public Sector Balance Sheet written by Maren Brede and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-06 with Business & Economics categories.
We construct a comprehensive public sector balance sheet for Finland from 2000 to 2016 by complementing general government statistics with data on public corporations and public pensions. We show that exposure to valuation changes in equity markets through asset holdings and increases in pension liabilities relative to GDP amplify crisis impacts on public finances. We expand the balance sheet by including present value estimates of future fiscal flows; this allows us to perform fiscal stress tests and policy experiments. These analyses suggest that Finland’s public finances will remain sound provided ongoing reform and consolidation efforts to address aging pressures are implemented as planned.
Labour Market And Fiscal Policy Adjustments To Shocks
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Author : Nombulelo Gumata
language : en
Publisher: Springer
Release Date : 2017-12-18
Labour Market And Fiscal Policy Adjustments To Shocks written by Nombulelo Gumata and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-18 with Business & Economics categories.
This book focuses on the implications of the South African labour market dynamics including labour market reforms and fiscal policy for monetary policy and financial stability. Evidence suggests there are benefits in adopting an approach that coordinates labour market policies and reforms, fiscal policy, price and financial stability. In particular, the benefits of coordinating policies present policymakers with policy options in cases where they are confronted by binding policy trade-offs and dilemmas, such as in cases when there is divergence in price and financial and economic growth outcomes. The empirical insights and policy recommendations are based on different techniques that include the counterfactual and endogenous-exogenous approaches, non-linearities introduced by thresholds and the impact of persistent and transitory shock effects. Themes covered in the book include various aspects of labour market conditions and reforms and their link to inflation and inflation expectations, the impact of the national minimum wage, the interaction between public and private sector wage inflation, economic policy uncertainty and employment, government debt thresholds, sovereign yields and debt ratings downgrades, labour productivity, the impact of inflation regimes on expansionary fiscal and monetary policy multipliers, the increase in government cost of funding on price and financial stability and the link between fiscal policy and credit dynamics.
Public Sector Debt Fiscal Deficits And Economic Adjustment
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Author : Alfredo E. Thorne
language : en
Publisher: World Bank Publications
Release Date : 1992
Public Sector Debt Fiscal Deficits And Economic Adjustment written by Alfredo E. Thorne and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Debts, Public categories.
Why did some highly indebted Latin American Countries experience high inflation as a result of the external shock of the 1980s, while other countries managed to absorb the shock and resume growth?