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Tuesday, July 21, 2020 | History

2 edition of Fiscal deficits, monetary reform and inflation found in the catalog.

Fiscal deficits, monetary reform and inflation

Nina Budina

Fiscal deficits, monetary reform and inflation

the case of Romania

by Nina Budina

  • 280 Want to read
  • 18 Currently reading

Published by Institut für Höhere Studien/Institute for Advanced Studies in Vienna .
Written in English

    Subjects:
  • Romania -- Economic conditions -- 1989-,
  • Romania -- Economic policy -- 1989-

  • Edition Notes

    StatementNina Budina, Sweder van Wijnbergen.
    SeriesInstitut für Höhere Studien -- no.37, Sept. 1996, Institute for Advanced Studies -- no.37, Sept. 1996
    ContributionsWijnbergen, Sweder van, 1951-, Institut für Höhere Studien und Wissenschaftliche Forschung.
    The Physical Object
    Pagination36p. :
    Number of Pages36
    ID Numbers
    Open LibraryOL17203891M

      This book takes a science-based approach to the reforms needed, using long accepted norms and principles, and two key observations made by one of the world’s most influential economists, Lord J M Keynes, in his landmark paper 'A Tract on Monetary Reform', published in This new book is expected to have a significant impact on macro. Fiscal policy, measures employed by governments to stabilize the economy, specifically by manipulating the levels and allocations of taxes and government expenditures. Fiscal measures are frequently used in tandem with monetary policy to achieve certain goals. Learn more about fiscal policy in this article.

    Inflation may also weaken the relation between conventional fiscal deficits and current account disequilibrium, since it would increase the nominal demand for monetary base. The inflation tax on the monetary base is an alternative source of financing the deficit, which is likely to be intensively used when the availability of foreign credit and. Abstract: This paper examines the causal relationship between inflation and fiscal deficits in Nigeria, covering the period This was carried out by way of developing an estimation model of inflation and fiscal deficit, with a view to testing causes and effects as well as the relationship between by: 6.

      Fiscal policy is how Congress and other elected officials influence the economy using spending and taxation. It is used in conjunction with the monetary policy implemented by central banks, and it influences the economy using the money supply and interest rates. 1  The objective of fiscal policy is to create healthy economic growth. The interaction between fiscal and monetary policy has long been recognized as important in macroeconomic theory and policy. Large and persistent fiscal deficits, in particular, have been argued to influence a country’s inflation dynamics (Friedman, ; Sargent and Wallace, ).


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Fiscal deficits, monetary reform and inflation by Nina Budina Download PDF EPUB FB2

Unsustainable fiscal deficits were the chief reason for the inflation that has persisted in Eastern Europe since Deficits need to be cut back, but by how much for a given inflation target. Budina and van Wijnbergen develop a simple framework for debt, the deficit, and inflation to study the interactions between fiscal and monetary policy.

Get this from a library. Fiscal deficits, monetary reform, and inflation stabilization in Romania. [Nina Budina; Sweder van Wijnbergen; World Bank. Development Research Group. Macroeconomics and Growth.] -- Fiscal problems are a key factor behind the inflation that has persisted in Eastern Europe since Deficits need to be cut back, but by how much for a given inflation target.

Macroeconomic theory postulates that fiscal deficits cause inflation. Yet empirical research has had limited success in uncovering this relationship. This paper reexamines the issue in light of broader data and a new modeling approach that incorporates two key features of the theory.

Unlike previous studies, we model inflation as nonlinearly related to fiscal deficits through the inflation tax Cited by: Fiscal deficits, monetary reform, and inflation stabilization in Romania Article (PDF Available) in The Journal of Policy Reform 4(3) May with 44 Reads How we measure 'reads'.

Downloadable (with restrictions). Fiscal problems are widely recognized as a key factor behind persistent inflation in Eastern Europe post Deficits need to be cut back, but how much for a given inflation target. We develop a simple framework Fiscal deficits debt, deficit and inflation to study the fiscal and monetary policy interactions for the Romanian economy.

Get this from a library. Fiscal Deficits, Monetary Reform, and Inflation Stabilization in Romania. [Nina Budina; vanSweder Wijnbergen; World Bank.] -- March - Fiscal problems are a key factor behind the inflation that has persisted in Eastern Europe since Deficits need to be cut back, but by how much for a given inflation target.

Downloadable. Unsustainable fiscal deficits were the chief reason for the inflation that has persisted in Eastern Europe since Deficits need to be cut back, but by how much for a given inflation target. The authors develop a simple framework for debt, the deficit, and inflation to study the interactions between fiscal and monetary policy in Romania's economy.

The third part discusses the impact of unification on inflation and quasi-fiscal deficits, and identifies a variety of implicit taxes and subsidies that must be taken into account in assessing the longer-run effects of exchange market reform. A government budget is a financial statement presenting the government's proposed revenues and spending for a financial government budget balance, also alternatively referred to as general government balance, public budget balance, or public fiscal balance, is the overall difference between government revenues and spending.A positive balance is called a government budget surplus, and.

Introduction Catão and Terrones () find that the relationship between fiscal deficits and inflation differs across income levels: deficits are inflationary in developing countries (i.e.

Fiscal deficits are negative balances that arise whenever a government spends more money than it brings in during the fiscal imbalance, sometimes called the. I will try to answer this question with the knowledge i have. I am no expert.

Fiscal deficit= revenues -expenditure Suppose if you are earning rs and spendingthe deficit is If we take at a country level the sum increases. Every on.

persistence of fiscal deficits inevitable. For example, dur-ing the year period (–), Nigeria witnessed 33 years of fiscal deficits, with only 6 years of surplus fiscal operations (Central Bank of Nigeria, ). Thus, unraveling the relationship between budget defi-cit and inflation has remained a source of both theoretical.

Fischer (), using fixed effects for a panel of 94 developing and developed economies, showed fiscal deficits are main driver of high inflation (defined in excess of percent a year), and estimated that a 1 percentage point improvement (deterioration) in the ratio of fiscal balance-to-GDP typically leads to a 41/4 percent decline (rise Cited by: 5.

But monetary and fiscal policy are connected, and the Fed chair should talk about the impact that a growing debt level might have monetary policy. Money, Inflation, and Deficit in Egypt Marcelo Giugale and Hinh T. Dinh Despite huge public sector deficits, Egypt has escaped high inflation by depleting three nonrecoverable assets: creditwor-thiness, money illusion, and enforceable foreign-exchange controls.

Without a tough reform program, the country will soon be in a serious Size: 1MB. Debrun, ). This literature points not only to cross-effects between fiscal (monetary) outcomes and monetary (fiscal) frameworks, but also to interactions between the two types of reforms. The present paper aims at filling this important gap in the literature on the effects of inflation targeting and fiscal rules on policy performance.

The linkage between inflation and economic growth has been the subject of considerable interest and debate. The 18 papers included in this volume comprise the proceedings of a conference on inflation and growth in China that brought together academics, officials and IMF staff members.

The papers edited by Manuel Guitián and Robert Mundell, examine issues in international exeperiences with. Fiscal Deficits and Inflation China has been running fiscal deficits for decades, and it had become a “take it for granted” attitude that subsidy provisions would become part of China’s policy.

In the 4 years from toe.g., the inflation rates measured by the Consumer Price Index (CP) in China were % in% in The Need For Monetary Reform PDF (To Read this page in French, please click here)) Monetary reform is the critical missing element needed to move humanity back from the brink of economic destruction and nuclear disaster, away from a future dominated by fraud, ugliness and warfare, toward a.

Deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit, or budget deficit; the opposite of budget term may be applied to the budget of a government, private company, or individual.

Government deficit spending is a central point of controversy in economics, as discussed below.I read Dr. Lekha S. Chakraborty's book titled "Fiscal Consolidation, Budget Deficits and the Macro Economy" with interest.

It is a book of substance. In less than pages, the author has tried to pack consideration of many contentious issues relating to fiscal policy and its linkages with overall macro economic performance.The definition of Fiscal deficit is basically excess of total expenditure over total revenue excluding borrowings.

Formula: Total expenditure - Total receipts (excluding borrowings) Implication: The borrowing requirements of Government Now the co.