Abstract The recent reforms in the European economic governance framework add to the Stability and Growth pact requirements for establishing a new macroeconomic surveillance mechanism for both euro area and non-euro area countries. The early identification and the prevention of imbalances are of...

This paper evaluates the interactions of monetary policy and fiscal policy in countries within regional economic communities and monetary blocs of Africa (AMU, EAC, ECCA, ECOWAS and SADC) as well as establish the extent of monetary dominance and/or fiscal dominance in the 48 African countries...

Why does the hours worked show a decreasing pattern in the postwar Japanese economy? This paper answers this question in the background of the changing pattern of government spending and tax-imposing behaviors. We construct and simulate a standard optimal growth model with the following key...

The U.S. manufacturing sector has become the poster child of the jobless recovery, the latest victim of the Bubble Economy. On Labor Day 2003 President Bush called for the creation of a new position of Assistant Secretary for Manufacturing in the Department of Commerce. The National Association...

This paper surveys evidence on fiscal multipliers from the Euro area and the United States obtained by direct, cross-state or economywide measures of the effects of broad-based tax cuts and increases in government purchases. In view of the evidence in the literature I conclude that that fiscal...

In this paper, we attempt to shed new light on the dynamic impacts of gov- ernment spending and technology shocks on the real exchange rate for the Euro area. The main idea under this identification scheme is to let the data speak about the behavior of the interested variables. Moreover, this...

This comprehensive review examines the wide-ranging impact of the COVID-19 pandemic on the Ghanaian economy. By analysing a diverse array of sources, including academic papers, reports, and official publications, it aims to provide a comprehensive understanding of the economic implications...