scholarly journals Relaying the Foundations of Depression Economics for the Technology Age: Reintroduction of the Austrian School of Thought

2017 ◽  
Vol 10 (10) ◽  
pp. 10
Author(s):  
Abhith Pallegar
Keyword(s):  
Structural Changes ◽  
Aggregate Demand ◽  
Austrian School ◽  
Fiscal Policies ◽  
Technology Age ◽  
Current Scenario ◽  
The Impact ◽  
Fiscal And Monetary Policy ◽  
Future Business ◽  
Large Sections

Structural changes in the modern economy have diminished the impact of traditional monetary and fiscal policies. For the past 90 years, the field of depression economics has been dominated by the Keynesian school of thought, which advocated the judicious use of monetary and fiscal policies by governments to artificially create aggregate demand to bring the economy roaring back from a recession. Today, economies are more diversified entities and large sections of these economies cannot be stimulated by monetary and fiscal policies. This paper discusses future of fiscal and monetary policy in an age of rapid technological change. The current scenario calls for the reintroduction of the Austrian School to the mainstream thought process for effectively managing future business cycles.

scholarly journals Welfare Systems and Their Complexity

2018 ◽  
Vol 13 (5) ◽  
pp. 50-65 ◽  
Keyword(s):  
Aggregate Demand ◽  
Vertical Equity ◽  
Social Programs ◽  
Fiscal Policies ◽  
Policy Makers ◽  
Universal Healthcare ◽  
Welfare Systems ◽  
The Usa ◽  
Major Criterion ◽  
The Impact

In different periods, economists and policy-makers have focused their attention on various aspects of fiscal policies, such as the accumulation of public debt and the impact of taxes on growth, the impact of fiscal policies on aggregate demand and the ability to reduce the severity of recessions, as well as the effect that they might have on the incentives of economic operators and on economic efficiency. This paper considers another aspect, which has attracted relatively little attention so far–namely the impact that they may have on the complexity of government operations. The approach proposed in the article would elevate simplicity, on both the spending and the revenue side, to a major criterion that should drive economic policy. The benchmark cases of relatively simple policies are universal healthcare and education programs in Scandinavian and some other European countries. The representative examples of relatively complex arrangement provide numerous means-tested social programs such as the Medicaid in the USA. Tax expenditures are another case of relatively complex policies. Programs like these inevitably become more expensive with the passing of time. Problems of horizontal and vertical equity increase, and they may give rise to growing antagonism to the programs. To deal with these problems, new rules are often created, making the programs progressively more complex. The need for and the importance of simplicity has been largely ignored by economists and by most governments. It deserves a far more prominent place among the criteria that should guide the choice of policies.

scholarly journals Bridging the Gap between Economic Modelling and Simulation: A Simple Dynamic Aggregate Demand-Aggregate Supply Model with Matlab

2018 ◽  
Vol 2018 ◽  
pp. 1-13 ◽  
Author(s):  
José M. Gaspar
Keyword(s):  
Steady State ◽  
Numerical Solutions ◽  
Aggregate Demand ◽  
Economic Modelling ◽  
Aggregate Supply ◽  
Parameter Values ◽  
The Impact ◽  
The Relationship ◽  
Fiscal And Monetary Policy ◽  
Simulations In Economics

This paper aims to connect the bridge between analytical results and the use of the computer for numerical simulations in economics. We address the analytical properties of a simple dynamic aggregate demand and aggregate supply (AD-AS) model and solve it numerically. The model undergoes a bifurcation as its steady state smoothly interchanges stability depending on the relationship between the impact of real interest rate on demand for liquidity and how fast agents revise their expectations on inflation. Using code embedded into a unique function in Matlab, we plot the numerical solutions of the model and simulate different dynamic adjustments using different parameter values. The same function also accommodates the analysis of the impacts of fiscal and monetary policy and supply side shocks on the steady state and the transition dynamics of the model.

scholarly journals Monetary Policy Literature in the History of Islamic Economic Thinking

2021 ◽  
Vol 8 (8) ◽  
pp. 349-358
Author(s):  
Alfi Amalia ◽  
Emma Novirsari ◽  
Mutiara Shifa
Keyword(s):  
Monetary Policy ◽  
Aggregate Demand ◽  
Economic Thought ◽  
Economic Life ◽  
Fiscal Policies ◽  
Gold Silver ◽  
History Of ◽  
The Government ◽  
Islamic Economic ◽  
The Impact

One of the Government's strategies is to promote the welfare aspect of the community's economic life. Economic development can be carried out with various strategies. One of them is empowering the wealth of natural resources that have been created by God. The government can open mines of gold, silver, coal, kerosene, gas, tin, etc. that are stored in the bowels of the earth as a form of natural empowerment. From another dimension, to maximize the ability of the economy, the government can make monetary and fiscal policies. In this paper, the author will explain how the government's monetary and fiscal policies in economic empowerment. Broadly speaking, the Islamic version of monetary policy is different from the non-Islamic version of monetary policy. This article focuses on the discussion of monetary policy in the history of Islamic economic thought, which will discuss how monetary policy was carried out in the early days of Islamic rule, starting from the time of the Prophet, his companions, to classical and contemporary economic thinkers. The explanations and descriptions that will be presented in this article can provide benefits both theoretically and practically regarding monetary policy in classical civilization, and its suitability for the present. The method used in writing this article uses a literature review approach, is used to collect relevant information related to monetary policy in the history of Islamic economic thought, secondary data in this article is collected from various research reports in order to obtain an explanation more comprehensive. The impact of monetary policy on the economy at the beginning of the Islamic Government was seen by the increasing demand for Aggregate Demand from the community after moving to Medina by bringing together muhajirin and ansar. With this brotherhood, each ansar is responsible for the muhajirin so that the distribution of income from ansar to muhajirin increases and has an impact on increasing the total demand of the community and resulting in an increase in resources, labor, land and capital. Keywords: Monetary, Policy, Islam, Economy, Development.

International trade: Research of the reasons for the fall

2019 ◽  
pp. 79-91 ◽  
Author(s):  
V. S. Nazarov ◽  
S. S. Lazaryan ◽  
I. V. Nikonov ◽  
A. I. Votinov
Keyword(s):  
Growth Rate ◽  
International Trade ◽  
Exchange Rate ◽  
Global Economy ◽  
Structural Changes ◽  
Global Value Chains ◽  
Value Chains ◽  
Negative Contribution ◽  
Basic Commodity ◽  
The Impact

The article assesses the impact of various factors on the growth rate of international trade. Many experts interpreted the cross-border flows of goods decline against the backdrop of a growing global economy as an alarming sign that indicates a slowdown in the processes of globalization. To determine the reasons for the dynamics of international trade, the decompositions of its growth rate were carried out and allowed to single out the effect of the dollar exchange rate, the commodities prices and global value chains on the change in the volume of trade. As a result, it was discovered that the most part of the dynamics of international trade is due to fluctuations in the exchange rate of the dollar and prices for basic commodity groups. The negative contribution of trade within global value chains in 2014 was also revealed. During the investigated period (2000—2014), such a picture was observed only in the crisis periods, which may indicate the beginning of structural changes in the world trade.

THE IMPACT OF UKRAINE'S EXCISE DUTY POLICY ON THE TRANSFORMATION PROCESSES OF THE TOBACCO MARKET

2020 ◽  
Vol 2020 (10) ◽  
pp. 19-33
Author(s):  
Nadiia NOVYTSKA ◽  
◽  
Inna KHLIEBNIKOVA ◽  
Keyword(s):  
Structural Changes ◽  
Tax Avoidance ◽  
Transformation Process ◽  
State Regulation ◽  
Tobacco Products ◽  
Excise Duty ◽  
Increasing Demand ◽  
High Level ◽  
The Impact ◽  
Transformation Processes

The market of tobacco products in Ukraine is one of the most dynamic and competitive. It develops under the influence of certain factors that cause structural changes, therefore, the aim of the article is to conduct a comprehensive analysis of transformation processes in the market of tobacco and their alternatives in Ukraine and identify the factors that cause them. The high level of tax burden and the proliferation of alternative products with a potentially lower risk to human health, including heating tobacco products and e-cigarettes, are key factors in the market’s transformation process. Their presence leads to an increase in illicit turnover of tobacco products, which accounts for 6.37% of the market, and the gradual replacement of cigarettes with alternative products, which account for 12.95%. The presence on the market of products that are not taxed or taxed at lower rates is one of the reasons for the reduction of excise duty revenues. According to the results of 2019, the planned indicators of revenues were not met by 23.5%. Other reasons for non-fulfillment of excise duty revenues include: declining dynamics of the tobacco products market; reduction in the number of smokers; reorientation of «cheap whites» cigarette flows from Ukraine to neighboring countries; tax avoidance. Prospects for further research are identified, namely the need to develop measures for state regulation and optimization of excise duty taxation of tobacco products and their alternatives, taking into account the risks to public health and increasing demand of illegal products.

Effekt of blood flow shutdown on the vein damage when exposed to HIFU

2017 ◽  
pp. 46-50
Author(s):  
Н.Н. Петрищев ◽  
Д.Ю. Семенов ◽  
А.Ю. Цибин ◽  
Г.Ю. Юкина ◽  
А.Е. Беркович ◽  
...  
Keyword(s):  
Blood Flow ◽  
Structural Changes ◽  
Focused Ultrasound ◽  
Vena Cava ◽  
Posterior Wall ◽  
High Intensity Focused Ultrasound ◽  
Vein Wall ◽  
Ultrasound Exposure ◽  
Isolated Segment ◽  
The Impact

The purpose. In the study we investigated the impact of the partial blood flow shutdown on structural changes in the rabbit vena cava posterior wall after exposure to high-intensity focused ultrasound (HIFU). Methods. Ultrasound Exposure: frequency of 1.65 MHz, the ultrasound intensity in the focus of 13.6 kW/cm, the area of the focal spot 1 mm, continuous ultrasound, exposure for 3 seconds. Results. Immediately after HIFU exposure all layers of the vein wall showed characteristic signs of thermal damage. A week after exposure structural changes in the intima, media and adventitia was minimal in the part of vessel with preserved blood flow, and after 4 weeks the changes were not revealed. A week after HIFU exposure partial endothelium destruction, destruction of myocytes, disorganization and consolidation of collagen fibers of the adventitia were observed in an isolated segment of the vessel, and in 4 weeks endothelium restored and signs of damage in media and adventitia persisted, but were less obvious than in a week after exposure. Conclusion. The shutdown of blood flow after exposure to HIFU promotes persistent changes in the vein wall. Vein compression appears to be necessary for the obliteration of the vessel, when using HIFU-technology.

The Impact of Monetary and Fiscal Policies on the Stock Market in the United States (U.S); Evidence from Linear ARDL Framework

2020 ◽  
Vol 11 (1) ◽  
pp. 132-132
Author(s):  
Aref Emamian
Keyword(s):  
United States ◽  
Stock Market ◽  
The United States ◽  
Real Effective Exchange Rate ◽  
Annual Data ◽  
Fiscal Policies ◽  
Long Run ◽  
The Us ◽  
Short Run ◽  
The Impact

This study examines the impact of monetary and fiscal policies on the stock market in the United States (US), were used. By employing the method of Autoregressive Distributed Lags (ARDL) developed by Pesaran et al. (2001). Annual data from the Federal Reserve, World Bank, and International Monetary Fund, from 1986 to 2017 pertaining to the American economy, the results show that both policies play a significant role in the stock market. We find a significant positive effect of real Gross Domestic Product and the interest rate on the US stock market in the long run and significant negative relationship effect of Consumer Price Index (CPI) and broad money on the US stock market both in the short run and long run. On the other hand, this study only could support the significant positive impact of tax revenue and significant negative impact of real effective exchange rate on the US stock market in the short run while in the long run are insignificant. Keywords: ARDL, monetary policy, fiscal policy, stock market, United States

scholarly journals KUALITAS AIR SUNGAI DI KAWASAN WISATA PANTAI PETITENGET, KEROBOKAN KABUPATEN BADUNG BALI

2018 ◽  
Vol 12 (2) ◽  
pp. 226
Author(s):  
Wayan Budiarsa Suyasa ◽  
Sri Kunti Pancadewi G. A ◽  
Iryanti E. Suprihatin ◽  
Dwi Adi Suastuti G. A.
Keyword(s):  
Water Quality ◽  
Structural Changes ◽  
Pollution Index ◽  
Basic Structure ◽  
Physical Damage ◽  
E Coli ◽  
Pollutant Source ◽  
Quality Category ◽  
Index Value ◽  
The Impact

In order to maintain the environmental carrying capacity of coastal tourism, this research was conducted to determine the condition of river water environmental pollution in the Petitenget beach area and pollutant source activities. Determination of water quality is carried out by analyzing the water quality taken at several sampling points in the four rivers that lead to the Petitenget beach. Determined the pollution index value (IP) of the physical chemical and biological pollution parameters. The results showed that the four rivers that flow into the Petitenget Beach area had been contaminated with indications of pH, BOD, COD, ammonia, Coliform and E. coli which exceeded water quality category III class quality (PerGub Bali No 16 Year 2016). The four rivers are included in the criteria of severe contamination. The four rivers have experienced physical damage or structural changes that have very high discharge fluctuations both in quantity and quality. Slimy basic structure, smelly and slum aesthetic waters. While the indication of the impact of pollution is waste water which is directly discharged into the river from hotels, restaurants, homestays, commercial centers and settlements.

Statistical Approaches to Structural Change in Regional Interindustry Models

1986 ◽  
Vol 18 (9) ◽  
pp. 1189-1207
Author(s):  
B Ó Huallacháin
Keyword(s):  
Structural Change ◽  
Structural Changes ◽  
Washington State ◽  
Multivariate Statistical Analyses ◽  
Input Output ◽  
Multivariate Statistical ◽  
State Data ◽  
System A ◽  
Statistical Approaches ◽  
The Impact

The conventional approach to assessing structural change in regional input – output tables is to measure the impact of coefficient change on the estimation of outputs and multipliers. The methods developed and tested in this paper focus exclusively on the coefficients. Univariate and multivariate statistical analyses can be used to identify and measure various types of changes ranging from coefficient instability to changes in interindustry relationships as a system. A distinction is made between structural changes in input relationships and those in output relationships. The methods are tested by using Washington State data for the years 1963 and 1967. The results are compared with previous analyses of change in these data.

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