Credit and Fiscal Policies in a "Global Monetarist" Model of the Balance of Payments (Politique du credit et politique budgetaire dans un modele "monetariste global" de la balance des paiements) (Las politicas crediticia y fiscal en un modelo "monetarista global" de la balanza de pagos)

1984 ◽  
Vol 31 (4) ◽  
pp. 685 ◽  
Author(s):  
Peter Montiel
Keyword(s):  
Balance Of Payments ◽  
Fiscal Policies ◽  
Monetarist Model

International economic structures, government interests, and international coordination of macroeconomic adjustment policies

1991 ◽  
Vol 45 (3) ◽  
pp. 309-342 ◽  
Author(s):  
Michael C. Webb
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Market Integration ◽  
Domestic Politics ◽  
Balance Of Payments ◽  
Fiscal Policies ◽  
Macroeconomic Policies ◽  
Macroeconomic Adjustment ◽  
Adjustment Policies ◽  
International Coordination

Analysts have commonly argued that there has been a decline in international coordination of the kinds of policies that governments can use to manage the international payments imbalances that emerge when different governments pursue different macroeconomic policies. The decline typically has been attributed to a posited decline in American hegemony. In contrast, this article argues that international coordination of macroeconomic adjustment policies (trade and capital controls, exchange rate policies, balance-of-payments financing, and monetary and fiscal policies) was at least as extensive for much of the 1980s as it had been in the 1960s. There was, however, a shift away from coordination of balance-of-payments financing and other policies that have limited direct consequences for domestic economic and political conditions and a concurrent shift toward coordination of monetary and fiscal policies that are critically important for domestic politics and economics. This change is best explained as a consequence of changes in the structure of the international economy. Most important, international capital market integration encouraged governments to coordinate monetary and fiscal policies because balance-of-payments financing and exchange rate coordination alone are insufficient to manage the enormous payments imbalances that emerge when capital is able to flow internationally in search of higher interest rates and appreciating currencies.

Chapter I. The Home Economy

1986 ◽  
Vol 117 ◽  
pp. 5-19
Keyword(s):  
Current Account ◽  
Oil Prices ◽  
Balance Of Payments ◽  
Total Output ◽  
Fiscal Policies ◽  
Moderate Rate ◽  
The Impact

Although information is still very incomplete for the second quarter, it seems likely that total output has continued to rise this year at a moderate rate—perhaps 1 ½ per cent a year. On constant fiscal policies, we would expect demand to grow just sufficiently during the rest of this year and in 1987 to keep non-oil GDP rising at about this rate, or perhaps just a little faster. Unemployment is still rising; the figures may soon level out, or possibly decline a little, under the impact of the special employment measures. Inflation is lower than for many years; it will probably edge up. The fall in oil prices has transformed the balance of payments. There could be a deficit on current account of substantial proportions in 1987.

scholarly journals Policies in the Fight against Fiscal Evasion in Albania

2018 ◽  
Vol 4 (3) ◽  
pp. 7
Author(s):  
Henris Balliu
Keyword(s):  
Fiscal Policy ◽  
Market Economy ◽  
Transition Process ◽  
Balance Of Payments ◽  
Primary Role ◽  
Fiscal Policies ◽  
Informal Market ◽  
Economic Progress ◽  
European Standards ◽  
Economic Balance

The transition process in Albania has revealed numerous problems uniformly spread having versatile impact. Such referring point is quality and effectiveness of fiscal policy in order to establish a sustainable connection among its goals and instruments being used. As a country that operates under conditions of market economy, Albania deems it necessary to increase the level of revenues in order to stabilize problems of economic balance and balance of payments. The analyses have shown that authority of fiscal policy has played primary role in the economic progress of the country. For that purpose, the behavior of contributors and their opportunity for evasion is taken into account as an important factor in the drafting of fiscal policies. The large business and VIP business conceal revenues; manipulate balances and the number of employees. Therefore they avoid tax liabilities. Roughly 45 % of economy in the country is informal, an informal market, an informal business and so on. Even nowadays, when a series of measures and amendments to the law have taken place, we still remain inside the transition train toward the station of a country with European standards. That is why the goal of this work is to analyze the offense of fiscal evasion and evasion of tax liabilities, the instruments in the prevention of this offense and the bodies rendering assistance in the fight against fiscal evasion. Arising questions are as following: What is the meaning of fiscal evasion?; What are the forms of fiscal evasion?; What are the established structures in the fight against tax informality?; What are the strategies used in the fight against fiscal evasion?; What are the solutions that can be offered?

scholarly journals From the EMS to the EMU and…to China

2019 ◽  
Author(s):  
Joseph Halevi
Keyword(s):  
Industrial Structure ◽  
Maastricht Treaty ◽  
Balance Of Payments ◽  
Military Power ◽  
Fiscal Policies ◽  
Republic Of China ◽  
Economic Area ◽  
Gravitational Pull ◽  
European Periphery ◽  
The Way

This essay deals with the EMS experience and its failure, with the Maastricht Treaty, and with the interregnum leading to the formation of the EMU in 1999. The paper highlights the position of German authorities, showing that they were quite lucid about the fundamental weaknesses inherent in a process that separated monetary from fiscal policies by giving priority to the centralization of the former. Instead of repeating the well known critiques leveled against the EMU – for which readers are referred to the unsurpassed treatment by Stiglitz, the essay highlights the splintering of Europe in the way in which it has unfolded during the 1990s and in the first decade of the present millennium. In particular the early economic and political origins of the terminal crisis of Italy are located between the late 1980s and the 1990s. France is shown to belong increasingly to the so-called European periphery by virtue of a weakening industrial structure and persistent balance of payments deficits. The paper argues that France regains its central role by political means and through its weight as an active nuclear military power centered on maintaining its imperial interests and posture especially in Africa. The first decade of the present millennium is portrayed as the period in which a distinct German economic area had been formed in the midst of Europe with a strong drive to the east with an increasingly powerful gravitational pull towards the People’s Republic of China.

scholarly journals Post-Keynesian alternative policies to curb macroeconomic imbalances in the Euro area

2015 ◽  
Vol 62 (2) ◽  
pp. 217-236 ◽  
Author(s):  
Eckhard Hein ◽  
Daniel Detzer
Keyword(s):  
Growth Rate ◽  
Euro Area ◽  
Balance Of Payments ◽  
Fiscal Policies ◽  
Policy Recommendations ◽  
Economic Policies ◽  
Regional Policies ◽  
Macroeconomic Imbalances ◽  
Current Account Imbalances ◽  
Differential Inflation

In this paper we outline alternative post-Keynesian policy recommendations addressing the problems of differential inflation, divergence in competitiveness and associated current account imbalances within the Euro area. We provide a basic framework in order to systematically address the related issues making use of Anthony P. Thirlwall?s (1979, 2002) model of a ?balance-of-payments-constrained growth rate? (BPCGR). Based on this framework, we outline the required stance for alternative economic policies and then we discuss the implications for alternative monetary, wage/incomes and fiscal policies in the Euro area as a whole, as well as the consequences for structural and regional policies in the Euro area periphery, in particular.

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