«This is on top of the improvement in other dimensions of
macroeconomic policy not analyzed here,» he said.
Not exact matches
While there are some signs of recognition such as the Fed's reduction in its estimated neutral rate from 4.5 percent to 3.0 percent during the last 2 years, the IMF's explicit use of the term secular stagnation in its World Economic Outlook, ECB president Mario Draghi's call for global coordination and greater use of fiscal
policy, and Japan's indicated interest in fiscal - monetary cooperation, policymakers still have
not made sufficiently radical adjustments in their world view to reflect this new reality of a world where generating adequate nominal GDP growth is likely to be the primary
macroeconomic policy challenge for the next decade.
I do think that in the long run, one can
not intelligently determine
macroeconomic policy without maintaining an awareness of electoral politics.
I do
not see a case for a further rate increase on current facts and remain very concerned that
macroeconomic policy has inadequately internalized all the aspects of large declines in the neutral real rate and secular stagnation risks.
It suggests that
macroeconomic policies can and have provided a measure of counter-cyclical stabilisation, but that they can't serve as a magic bullet to achieve sustained growth in living standards.
High - profile, successful, and gold - agnostic investment - world luminaries assess the
macroeconomic risks of radical monetary
policies and reach a similar conclusion: This will end badly: — Seth Klarman: «All the Trumans (reference: a 1998 movie [The Truman Show] in which the main character's entire life takes place on a TV set which he perceives as reality)-- the economists, fund managers, traders, market pundits — know at some level that the environment in which they operate is
not what it seems on the surface....
Poloz himself has no control over the actions of the markets. And his response to any
macroeconomic damage that results is limited to monetary
policy adjustments (the next Bank of Canada interest rate decision is September 9), over which the Prime Minister is
not supposed to have sway.
Why can we
not have control of house price inflation as one of our major
macroeconomic policies?
But without stronger
macroeconomic policies - notably higher non-oil tax collections (to create fiscal space) and a more transparent foreign exchange regime (to facilitate adjustment and promote diversification)- the plan will
not meet the objectives of fostering higher growth and employment»
On the very day that Ed Balls made his speech last week, there was a joint meeting of the three Labour
policy commissions that deal with aspects of the economy, but the
macroeconomic stance of the next Labour government was
not on the agenda.
[5] Lane Kenworthy, professor of sociology at the University of California at San Diego, has stated that Sanders is a social democrat and
not a democratic socialist -LSB-...] Mike Konczal, an economic
policy expert at the Roosevelt Institute, also characterizes Sanders» positions as «social democracy» rather than «socialist», noting that social democracy means support for a mixed economy combining private enterprise with government spending, social insurance programs, Keynesian
macroeconomic policies, and democratic participation in government and the workplace - all of which are a part of Sanders» platform.
At the same time, these powers will
not give the Scottish parliament the power to defend itself against Westminster austerity measures, and certainly
not the full control over
macroeconomic policy it would need to tackle poverty, inequality and other significant social
policy challenges.
Before the crisis, when I was writing at RealMoney.com, I usually encouraged taking the less risky
macroeconomic route, suggesting
policies that would
not increase debt levels.
One bias of mine is that most
macroeconomic policy actions of the government or central bank either don't help, or merely shift the problem to...
I don't use technical analysis, and I don't worry about
macroeconomics or government
policy.
Just as there are no good
macroeconomic policies after a financial crisis — one must seek to stop the next crisis,
not fix the current one, the same thing applies to the intelligent investor, where we go back to first principles:
For a real - world example of how a system of market - chosen monetary
policy would work in the absence of a central bank, one need
not look to the past; the example exists in present - day Central America, in the Republic of Panama, a country that has lived without a central bank since its independence, with a very successful and stable
macroeconomic environment.
The time was the Fall of 1980, and
macroeconomics was trying to catch up with what happened with stagflation, because that was
not something that expected would come from their
policy recommendations that offered the politicians a free lunch.
But with
macroeconomics, there is little agreement as to whether a given
policy aids real growth or
not.
However, in a world where money earns interest, minimising the uncertainty of
macroeconomic policy does
not equate to minimising the volatility of inflation.
Power - sector CO2 emissions are influenced by a number of factors
not directly affected by environmental
policies, such as
macroeconomic growth levels and relative fuel prices.