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Swings and the Rules-Discretion Balance

John B. Taylor

in Rethinking Expectations: The Way Forward for Macroeconomics

Published in print:
2013
Published Online:
October 2017
ISBN:
9780691155234
eISBN:
9781400846450
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691155234.003.0013
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter examines two major swings in the balance between rules and the discretion of policymakers in U.S. economic policymaking in the past four decades: one in favor of rules and the other in ... More


Uganda: The Social and Economic Costs of Conflict

John Mary Matovu and Frances Stewart

in War and Underdevelopment

Published in print:
2000
Published Online:
October 2011
ISBN:
9780199241880
eISBN:
9780191696978
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199241880.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

Uganda has had a harsh, conflict-ridden history since 1962. These conflicts were the outcome of complex interactions across ethnic, regional, and religions divisions. Underlying these distinctions ... More


Australia

Hal Hill and Bruce McKern

in Governments, Globalization, and International Business

Published in print:
1999
Published Online:
November 2003
ISBN:
9780198296058
eISBN:
9780191596209
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198296053.003.0008
Subject:
Economics and Finance, International

This case study on the impact of globalization on Australia is organized into six main sections. Sect.1 and Sect. 2, provide a general overview of Australia's international integration from a ... More


What Scope for Monetary Policy?: Experiences from the Nordic Countries after the Financial Crisis1

Anders Møller Christensen and Niels Lynggård Hansen

in Reform Capacity and Macroeconomic Performance in the Nordic Countries

Published in print:
2015
Published Online:
March 2015
ISBN:
9780198717102
eISBN:
9780191785740
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198717102.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter reports on differences in monetary-policy responses to pressures after the financial crisis across the Nordic countries. Based on an analysis of a broad set of macroeconomic data, ... More


A Crisis Not Wasted: Institutional and Structural Reforms Behind Norway’s Strong Macroeconomic Performance

Erling Steigum and Øystein Thøgersen

in Reform Capacity and Macroeconomic Performance in the Nordic Countries

Published in print:
2015
Published Online:
March 2015
ISBN:
9780198717102
eISBN:
9780191785740
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198717102.003.0018
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter makes the connection between the Norwegian boom—bust cycle and banking crises in the late 1980s and early 1990s, the succeeding institutional and structural reforms, and the strong ... More


Pre-Crisis Macroeconomic Performance and Triggers of the Economic Crisis in Zimbabwe

Arnold M. Chidakwa and Gibson Chigumira

in Economic Management in a Hyperinflationary Environment: The Political Economy of Zimbabwe, 1980–2008

Published in print:
2016
Published Online:
March 2016
ISBN:
9780198747505
eISBN:
9780191810442
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198747505.003.0002
Subject:
Economics and Finance, Development, Growth, and Environmental, Macro- and Monetary Economics

This chapter analyses Zimbabwe’s pre-crisis macroeconomic performance and the triggers of the economic crisis that Zimbabwe suffered during the period 1997–2008. Economic crisis is defined in this ... More


Bulgaria

Wolf Holger C., Ghosh Atish R., Berger Helge, and Gulde Anne-Marie

in Currency Boards in Retrospect and Prospect

Published in print:
2008
Published Online:
August 2013
ISBN:
9780262232654
eISBN:
9780262286411
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262232654.003.0012
Subject:
Economics and Finance, Econometrics

This chapter evaluates Bulgaria’s use of a currency board arrangement in 1997. The chapter covers the board’s structure and operation environment, monetary and banking policies, the board’s impact on ... More


Economic Growth in Ghana: Trends and Structure, 1960–2014

Ernest Aryeetey and Ama Pokuaa Fenny

in The Economy of Ghana Sixty Years after Independence

Published in print:
2017
Published Online:
March 2017
ISBN:
9780198753438
eISBN:
9780191815065
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198753438.003.0004
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter presents patterns of economic growth and macroeconomic performance in Ghana using a cross‐sectional time series data for the period 1960–2014. It identifies the recurrent issues that ... More


Lithuania

Wolf Holger C., Ghosh Atish R., Berger Helge, and Ghosh Atish R.

in Currency Boards in Retrospect and Prospect

Published in print:
2008
Published Online:
August 2013
ISBN:
9780262232654
eISBN:
9780262286411
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262232654.003.0011
Subject:
Economics and Finance, Econometrics

This chapter examines Lithuania’s adoption of a currency board arrangement on April 1, 1994. The discussions looks at the board’s structure, monetary and banking policies, the exit debate and ... More


Confidence Intervals

Dale W. Jorgenson, Richard J. Goettle, Mun S. Ho, and Peter J. Wilcoxen

in Double Dividend: Environmental Taxes and Fiscal Reform in the United States

Published in print:
2014
Published Online:
September 2014
ISBN:
9780262027090
eISBN:
9780262318563
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262027090.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter describes a method for constructing confidence intervals for general equilibrium model results using the covariance matrices routinely computed in the course of estimating the model's ... More


Estonia

Wolf Holger C., Ghosh Atish R., Berger Helge, and Gulde Anne-Marie

in Currency Boards in Retrospect and Prospect

Published in print:
2008
Published Online:
August 2013
ISBN:
9780262232654
eISBN:
9780262286411
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262232654.003.0010
Subject:
Economics and Finance, Econometrics

This chapter looks at Estonia’s adoption of a currency board arrangement in 1992. The discussions cover the board’s structure, monetary and banking policies, adjustments to the way of the European ... More


International Borrowing and Macroeconomic Performance in Argentina

Kathryn M. E. Dominguez and Linda L. Tesar

in Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences

Published in print:
2007
Published Online:
February 2013
ISBN:
9780226184975
eISBN:
9780226184999
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226184999.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter investigates the evolution of capital flows and macroeconomic performance in Argentina from the adoption of the Convertibility Plan in 1991 until the collapse of the pegged exchange rate ... More


Does Inflation Targeting Matter?

Laurence Ball and Niamh Sheridan

in The Inflation-Targeting Debate

Published in print:
2005
Published Online:
February 2013
ISBN:
9780226044712
eISBN:
9780226044736
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226044736.003.0007
Subject:
Economics and Finance, Financial Economics

The performance of inflation-targeting regimes has been quite good. Inflation-targeting countries seem to have significantly reduced both the rate of inflation and inflation expectations beyond that ... More


Bosnia and Herzegovina

Wolf Holger C., Ghosh Atish R., Berger Helge, and Gulde Anne-Marie

in Currency Boards in Retrospect and Prospect

Published in print:
2008
Published Online:
August 2013
ISBN:
9780262232654
eISBN:
9780262286411
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262232654.003.0013
Subject:
Economics and Finance, Econometrics

This chapter looks at the establishment of a currency board in Bosnia and Herzegovina in 1997. The analysis cover the board’s structure, monetary and banking policies, the board’s impact on ... More


The Macroeconomic Effects of Oil Price Shocks: Why Are the 2000s so Different from the 1970s?

Olivier J. Blanchard and Jordi Galí

in International Dimensions of Monetary Policy

Published in print:
2010
Published Online:
February 2013
ISBN:
9780226278865
eISBN:
9780226278872
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226278872.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter discusses the large output losses and the rises in inflation rates that accompanied the two oil shocks of 1970 in most industrialized countries, and shows the more recent absence of ... More


Constitutional language: lessons from beyond Westminster

Matthew Williams

in How Language Works in Politics: The Impact of Vague Legislation on Policy

Published in print:
2018
Published Online:
January 2019
ISBN:
9781529200201
eISBN:
9781529200225
Item type:
chapter
Publisher:
Policy Press
DOI:
10.1332/policypress/9781529200201.003.0007
Subject:
Political Science, Political Theory

This chapter provides international comparisons of constitutional language and the clarifying potential of higher constitutional law in order to put the UK's struggles with indeterminate legislation ... More


Policy Evaluation

Dale W. Jorgenson, Richard J. Goettle, Mun S. Ho, and Peter J. Wilcoxen

in Double Dividend: Environmental Taxes and Fiscal Reform in the United States

Published in print:
2014
Published Online:
September 2014
ISBN:
9780262027090
eISBN:
9780262318563
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262027090.003.0008
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter presents the simulation results for five increasingly aggressive carbon tax regimes covering all greenhouse gas emissions. Major fiscal reform is viewed from a tax perspective involving ... More


The Political Economy of Structural Reforms in Europe

Nauro F. Campos, Paul De Grauwe, and Yuemei Ji (eds)

Published in print:
2018
Published Online:
August 2018
ISBN:
9780198821878
eISBN:
9780191861000
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198821878.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

Reforms in labour and product markets play a central role in government policies. The issue of whether structural reforms lead to higher economic growth remains controversial. Researchers in this ... More


Model Solution

Dale W. Jorgenson, Richard J. Goettle, Mun S. Ho, and Peter J. Wilcoxen

in Double Dividend: Environmental Taxes and Fiscal Reform in the United States

Published in print:
2014
Published Online:
September 2014
ISBN:
9780262027090
eISBN:
9780262318563
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262027090.003.0006
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter describes the construction and simulation of the IGEM base case, illustrating how the various components of the model combine to achieve the economy's growth path. Key projections for ... More


Following the Leader: The Central Bank and the Markets

Alan S. Blinder

in The Quiet Revolution: Central Banking Goes Modern

Published in print:
2004
Published Online:
October 2013
ISBN:
9780300100877
eISBN:
9780300127508
Item type:
chapter
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300100877.003.0007
Subject:
Economics and Finance, Economic Systems

This chapter focuses on the complex and evolving relationship between central banks and the financial markets. It argues that central banks, which used to pride themselves on lording it over the ... More


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