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In this paper, I focus on the stabilization properties of alternative simplified approaches to the conduct of monetary policy and fiscal policy. The paper is motivated by questions of topical interest in New Zealand, for example what the costs might be in terms of lost credibility if the Reserve...
Persistent link: https://www.econbiz.de/10005660604
In contemporary New Zealand, microeconomics is in the ascendant over macroeconomics, to such an extent that neither the Reserve Bank nor the Cabinet and Treasury appear to give much attention to shorter-run macroeconomic stabilization as a policy goal. This lecture examines why thoughtful New...
Persistent link: https://www.econbiz.de/10005660608
This paper outlines the macroeconomic experiences of the Japanese economy since 1990. The MSG2 multi-country model is used to determine the extent to which the strong yen and growth experience of Japan over this period was due to underlying trends in the Japanese economy and to what extent...
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In this first paper, I focus on the question which has been subject to considerable recent debate, namely whether collapse of North Korea is imminent. In accessing this question the paper discusses the three structural bottlenecks now thought to be severely constraining the North Korean economy...
Persistent link: https://www.econbiz.de/10005618747
have caused anxieties in the rest of the world. Some commentators see Chinese growth wholly in terms of competition for … capital on macroeconomic adjustment in the world economy. The study focuses on the period from 1990 to 2020. Rather than being … a problem for the world economy, we find strong growth in China is beneficial for the world economy directly through …
Persistent link: https://www.econbiz.de/10005618755
prohibitive environment for egalitarian interventions. I present a model of globalization and redistribution to answer the … following question: in a liberalized world economy, what programs of egalitarian redistribution and social insurance are …
Persistent link: https://www.econbiz.de/10005474694