Xem 1-20 trên 50 kết quả Policy regime
  • This report investigates the income and equity effects of macroeconomic policy reforms in Zimbabwe, emphasizing linkages between macroeconomic policies and agricultural performance and agriculture's influence on aggregate income and its distribution.Analyses focus on reform of the foreign trade regime, public expenditure, and tax policy, along with the potential benefits of combining these structural changes with various land reform scenarios.

    pdf148p konbetocroi 07-01-2013 26 6   Download

  • The Syrian regime of Hafez al-Assad has in the past year seemed to change direction, first with tentative moves toward liberalization, then by siding with the American-led coalition that fought against Saddam Hussein and, perhaps most dramatically, by acceding to America’s wish that it attend a peace conference with Israel. There is no doubt that U.S.-Syrian relations have greatly improved in the process.

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  • The operational procedures of the Bank of Greece underwent major changes during the 1990s. These shifts in operational strategy made interest rates the main tool of monetary policy for the first time in Greece. This paper examines the effects of changes in the bank’s operational interest rates on market interest rates at eight maturities and for different operational regimes. A major feature of our study is the application of the event study methodology used in finance, which has not been employed in any previous study on this subject.

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  • This chapter define fiscal policy and describe fiscal goals and instruments at the macroeconomic, sectoral and microeconomic levels; discuss the evolution of views on the macroeconomic role of fiscal policy, focusing on the distinction between the Keynesian and structural approaches and the choice between discretionary and rulesbased fiscal regimes; distinguish between the various definitions of budget balance and explain the economic significance of each;...

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  • What constitutes a just tax system, and what are its moral foundations? Should a society's tax regime be designed to achieve a just distribution of wealth among its citizens, or should such a regime be designed to promote economic growth, rising standards of living, and increasing levels of employment? Are these two goals compatible or incompatible? Why should justice not require, or at least lead to, an increase in general prosperity? The essays in this volume examine the history of tax policies and the normative principles that have informed the selection of various types of taxes and tax...

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  • Authoritative and readable, this brief survey is a comprehensive historical overview of the U.S. federal tax system. Its coverage ex- tends from the ratification of the Constitution to the present day. Brownlee describes the five principal stages of federal taxation in relation to the crises that led to their adoption—the formation of the republic, the CivilWar,WorldWar I, the Great Depression, and World War II—and discusses the significant modifications during the Reagan presidency.

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  • With the ending of the political dichotomy in world politics around 1990, the good governance principle came to occupy an important position in judgements about political regimes in developing countries. Good governance became an important objective in the policies of many aid-giving Western countries and the main international financial institutions, such as the World Bank. Increasingly, however, good governance and market-oriented economic reform came to be subsumed under one heading, leading to what has been called a post-Washington Consensus.

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  • Challenges to sustaining the productivity of oceanic and coastal fisheries have become more critical and complex as these fisheries reach the upper limits to ocean harvests. In addition, it is now clear that we are managing interactive and dynamic food webs rather than sets of independent single-species populations.

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  • ABSTRACT Vietnam’s foreign exchange (forex) market has remained relatively poorly developed despite more than two decades of general reform throughout the economy. This paper adopts a microstructure approach to the analysis of the root-causes underlying the operational deficiencies of this market. The analysis suggests that the authorities have tended to follow a de facto adjustable peg exchange rate regime which, in turn, has acted as a retardant to the development of the country’s forex market. Consequently, market signals have become increasingly non-transparent.

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  • The Portfolio Review found that social funds projects that respond to emergency situations through the rapid creation of employment oppor- tunities are likely to achieve their objectives. The design of such social funds projects reflects their emergency nature well. The Portfolio Re- view did not, therefore, dwell on this cohort of social funds projects.

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  • The role of monetary analysis in the ECB’s monetary policy strategy is founded on the robust positive relationship between longer-term movements in broad money growth and inflation, whereby money growth leads inflationary developments. This relationship is found to hold true across countries and monetary policy regimes.

    pdf10p machuavo 19-01-2013 17 5   Download

  • More important is the scatter plot of data points, each representing a microfinance institution. Many points are above the threshold for profitability, and many are on the left of the graph, indicating low reliance on soft (subsidized) funds. This is the hope of commercial microfinance. But note too that an ample number of institutions are above the threshold and to the right, funded by social investors of various stripes. The solid circles represent institutions with for-profit status, while the empty circles are non-profits.

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  • The paper seeks to assess how a major policy regime change – such as the introduction of the currency board in Bulgaria – affects the flow of bank credit to the corporate sector. An attempt is made to identify the determinants of corporate credit separately from the viewpoint of lenders and borrowers. The estimated credit supply and credit demand equations provide empirical evidence of important changes in microeconomic behavioral patterns which can be associated with the policy regime change.

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  • The other extreme is “monetary dominance”. Central banks raise interest rates to avoid the inflationary effects of excessive budget deficits. Real interest rates rise across the maturity spectrum and the prospect of higher-and-higher debt service costs then forces governments to reduce their primary deficits. This seems to fit the UK story in the late 1980s and early 1990s when tighter macroeconomic policies (monetary and fiscal) brought down inflation.

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  • The Committee evaluated the impact of its regulatory regimes on trade finance for low income countries. For those countries, confirmed letters of credit are of specific importance. Confirmed letters of credit provide exporters with additional protection against any losses incurred from importers’ and issuing banks’ failure to meet their obligations of payments.

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  • This original study by Claudia Kissling of the University of Bremen fits our series on non-state actors for two reasons. First, she demonstrates the working of the international policy cycle following from the framing and passing of an international treaty. In this case the implementation and monitoring facets of an international agreement are discussed by a close analysis of the 7th Review Conference of the parties to the 1968 Treaty on the Non-Proliferation of Nuclear Weapons (NPT), which took place at the United Nations in 2005.

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  • The decision by the US and UK governments to use military force against Iraq in 2003 and the subsequent occupation and administration of that State have brought into sharp focus fundamental fault lines in international law. The deci- sion to invade, the conduct of the war and occupation, and the mechanisms used to administer the country all challenge the international legal community, placing it at a crossroads.

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  • However, predictability should not be mistaken for permanence. In the case of policies targeting investment in physical capital, it is important to „sunset‟ many of the policies. With time the financial market will price risk efficiently (assuming policy regimes do not generate shocks continuously) and learning benefits will be exhausted.

    pdf40p quaivatdo 19-11-2012 22 3   Download

  • There have been some attempts to explain theoretically the behavior of the stock return volatility. Veronesi (1999) constructs a model with regime shifts in the endowments in which investors will- ingness to hedge against their own uncertainty on the true regime generates overreaction to good news in bad times and volatility clustering. In contrast to that paper, I assume that the exogenous state variables are not subject to regimes, neither do they exhibit mean-reversion.

    pdf51p connhobinh 07-12-2012 18 3   Download

  • In a recent contribution, Gallmeyer and Holli…eld (2008) propose a model with heterogeneous beliefs and short sale constraints. They are able to show some e¤ects of heterogeneous beliefs and of short sales constraints on equilibrium volatility at a …xed point in time through extensive simulations. However, their constraints are imposed exogenously, while the rich dynamics obtained in this paper come from the endogenous solvency constraints and binding regimes which arise naturally from limited commitment....

    pdf53p connhobinh 07-12-2012 21 3   Download

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