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Articles ( Showing 1-20 of 28 items)
Searched for: [ Keywords: "Macroeconomic policy" ] clear all
Journal Article
Central bank policy formulation under COVID-19 in Ghana: A fit-for-purpose?
by Johnson Worlanyo Ahiadorme  and  Deodat E. Adenutsi
Abstract
This paper evaluates the fit-for-purpose of the monetary policy measures implemented by the Bank of Ghana in response to the COVID-19 pandemic. We examine the effectiveness of the BoG’s policy interventions in the context of vector autoregressions augmented with macroeconomic and financial indicators. We demonstrate that the BoG’s monetary policy measures have had n [...] Read more
Hit Affiliation:
Macroeconomics Section, Ghana Statistical Service, Accra, Ghana

Journal Article
An overlapping generations version of Krugman’s world’s smallest macroeconomic model and fiscal deficit
by Yasuhito Tanaka
Abstract
This paper attempts to introduce an overlapping generations structure into Paul Krugman's "The world's smallest macroeconomic model" (Krugman (1999)) to examine the implications of fiscal policy, particularly fiscal deficits, in a framework suitable for policy analysis. In that paper, Krugman argued that under the price rigidity assumption, a shortage in the money supply leads [...] Read more

Journal Article
In search of an optimal public policy in a pandemic: The question of lives versus livelihood
by Gopal K. Basak , Chandramauli Chakraborty  and  Pranab Kumar Das
Abstract
The paper addresses the alternative policy options available to address the question of lives versus livelihood in an SIRD model augmented with a macroeconomic structure. An important contribution of the paper lies in designing the policy of lockdown dependent on the extent of the constraint on the health facilities. The paper supplements the literature with a less stringent ve [...] Read more

Journal Article
The impact and mechanism of the relaxation of fertility policy on income distribution: Evidence from China's Selective Two Children Policy
by Qian Huang , Shoulin Fang , Dongmei Wang , Weiheng Sun , Youcheng Zhou  and  Feiling Lu
Abstract
Numerous studies have explored the impact of family planning policies on income distribution, but the impact of policy relaxation remains largely unexplored. To address this gap, we investigate the effects of China's selective two-child policy, which was implemented in 2013, using provincial panel data from 2011 to 2016. Specifically, we employ a generalized difference-in-diffe [...] Read more

Journal Article
Dynamics of deposit dollarization in Turkey
by A. Yasemin Yalta  and  A. Talha Yalta
Abstract
Deposit dollarization in Turkey has been on the rise, reaching record levels in 2022. This was caused by the worsening macroeconomic fundamentals along with the transition to the presidential system in 2018 and the associated deviation from the monetary policy stance afterward. The unique case of Turkey presents an excellent natural experiment to explore the dynamics of deposit [...] Read more

Journal Article
Exports of Renewable Energy Goods among RCEP members: Potential and Constraints
by Yichang Liu  and  Kaliappa Kalirajan
Abstract
Objective: The paper, specifically examines whether the recently formed Regional Comprehensive Economic Partnership (RCEP) can potentially facilitate minimising the constraints to renewable energy goods exports at the regional level in Asia. Data, Methodology and Findings: Using the panel data from 11 RCEP members from 2006 to 2014, this study has applied the ‘meta fronti [...] Read more
Hit Affiliation:
Arndt-Corden Department of Economics, Crawford School of Public Policy, The Australian National University, Canberra, Australia

Journal Article
Are Banks Too Many? A Theoretical Possibility and a Policy Issue
by Gerasimos T. Soldatos  and  Erotokritos Varelas
Abstract
Motivated by the Blackorby-Schworm (1993) observation that market outcomes may differ from those originating in market-actor optimization, this paper claims that the number of banks in the market is larger than the number justified by bank profit maximization alone or in combination with bank depositor welfare maximization. This claim is made within the context of bilateral mon [...] Read more

Journal Article
Dilemma for fiscal policies: supporting economic activity, or ensuring public debt sustainability?
by Séverine Menguy
Abstract
We study analytically the conflict of goals between stabilizing economic activity and public debt sustainability, for the fiscal authorities. In the short run, an active and expansionary fiscal policy, increasing public investment or reducing the labor taxation rate, is growth enhancing. However, as these short term fiscal policies also decrease government revenue and increase [...] Read more

Journal Article
The Impact of Financial Liberalization Policies on Income Inequality
by Fateh Saci
Abstract
This paper examines impacts of China’s financial liberalization policy on income inequality, through three channels: financial scale, financial structure and financial efficiency, an empirical analysis based on panel data of 30 provinces in China from 1996 to 2013 is conducted. The results confirm the Kuznets effect between financial scale, financial structure and income [...] Read more

Journal Article
Green Credit Policy, Institution Supply and Enterprise Green Innovation
by Chunji Zheng , Feng Deng , Chengfeng Zhuo  and  Weiheng Sun
Abstract
Green credit policy (GCP) relies on financial means to promote environmental governance. Whether it can achieve the goals of economic development and environmental protection, especially in the context of different institutional supplies, remains to be scientifically tested. Based on the implementation of China’s Green Credit Guidelines in 2012, this study uses panel data [...] Read more

Journal Article
The Policy Relevance of Urban Scaling Laws: A Study on Impervious Ground in German Cities
by Rolf Bergs
Abstract
The expansion of urban infrastructure is an important indicator of agglomeration and a major factor in the deterioration of the urban environment. The investment in urban infrastructure is accompanied by the sealing of ground. The implementation of effective policies to reduce the practice of sealing ground is impeded by the existence of conflicting interests and fiscal disince [...] Read more

Journal Article
Sources of Productivity Growth in the Indonesian Manufacturing Industries
by Martha Primanthi  and  Kaliappa Kalirajan
Abstract
Generating output growth by adding more inputs into the production process may not be sustainable in the long run for any economy, given the limited resources. On the other hand, if productivity growth dominates the production process, it will generate more output without excessive increase in input use. Hence, this paper examines whether the output growth in Indonesia’s [...] Read more
Hit Affiliation:
Arndt Corden Department of Economics, Crawford School of Public Policy, Australian National University, Canberra, Australia

Journal Article
Keynesian Without the Policy: Why the Business Cycle is all about Business Confidence and Finance
by Karl Johan Bergstrӧ m
Abstract
Many of Keynes´s ideas and concepts are proven correct in this paper. The demand side, mainly business investments, drives the economy. Business firms steer the business cycle via profit expectations and animal spirits. Injections to and withdrawals from the circular flow of income are multiplied throughout the economy in accordance with Keynes´s multiplier. A sudde [...] Read more

Journal Article
Probability of Achieving NDC and Implications for Climate Policy: CO-STIRPAT Approach
by Ick Jin
Abstract
This paper presents an analytical framework to assess the probability of achieving nationally determined contributions (NDC). The prediction model based on the Kaya identity is used to simulate the pathway of carbon emission until the target year. Applying the modified STIRPAT framework (named CO-STIRPAT) to data observed in South Korea shows that the probability that the predi [...] Read more

Journal Article
Financial Inclusion and Environmental Sustainability in Emerging and Developing Countries: Do control of corruption and trade openness matter?
by Emna Trabelsi  and  Thouraya Fhima
Abstract
This study investigates the impact of financial inclusion on environmental sustainability in 178 emerging and developing countries from 1996 to 2022. Employing a composite index derived through Principal Component Analysis (PCA) as a measure of financial inclusion and covering four aspects (access, depth, efficiency, stability), our analysis reveals negative outcomes. The findi [...] Read more
Hit Affiliation:
Department of Quantitative Methods, Higher Institute of Management of Tunis, Social and Economic Policy Analysis Laboratory, Bouchoucha City, Tunis, Tunisia

Journal Article
Inflation: Thruway of ECB’s Monetary Policy
by Christian Seidl
Abstract
Part of the present inflation is caused by the breakdown of globalization, in particular supply chains, part is caused by the Corona Pandemic, in particular lockdowns, part is caused by the Ukrainian War, part is caused by European sanctions, and part – and not the smallest one – is caused by the European Central Bank’s printing money by hook or by crook in th [...] Read more

Journal Article
Credit risk and Tunisian bank stability in the Covid-19 wave
by Emna Trabelsi  and  Malek Ben Mansour
Abstract
Banks are at the core of economic functioning in various countries and are the cause of their development in various fields. In a changing environment, they must deal with certain risks and maintain financial stability as the ultimate objective. The primary objective of this study is to examine the correlation between credit risk and bank stability within the Tunisian banking s [...] Read more
Hit Affiliation:
Social and Economic Policy Analysis Laboratory, Higher Institute of Management of Tunis, University of Tunis, Tunisia

Journal Article
Agricultural Exports, Other Exports, Imports, and Economic Growth: An ARDL Approach for Tunisia
by Emna Trabelsi  and  Nesrine Kachout
Abstract
This paper aims to study and quantify the impact of agricultural exports on economic growth along with other variables in Tunisia. For that purpose, we estimate the relationship between GDP, agricultural exports, other exports, and imports by applying the ARDL approach under the period 1990-2020. The results show a negative and insignificant impact of agricultural exports on ec [...] Read more
Hit Affiliation:
Higher Institute of Management of Tunis, Social and Economic Policy Analysis Laboratory, University of Tunis, Tunis, Tunisia

Journal Article
Interactive influence of house prices and the repo rate on household debt in South Africa
by Juniours Marire
Abstract
The recent interest rate policy decisions of the South African Reserve Bank have been criticized significantly by left-leaning political parties and civic society organisations for being anti-poor, anti-labour, and pro-capital because of their implications for household debt. Existing literature has established that interest rates and house prices are insignificant determinants [...] Read more

Journal Article
The Expanded Child Tax Credit and Educational Attainment in Rural, Majority-Minority Communities
by Ethan Bennett  and  Mengzhong Zhang
Abstract
Despite the status of the United States as one of the world’s economic superpowers, the country is plagued by child poverty. The issue of child poverty is most prominent in rural, majority-minority communities, where years of limited opportunity, often created by systematic oppression, have created a vicious cycle of economic despair. There are a number of policies that h [...] Read more