Search results for "Macroeconomic"
showing 10 items of 503 documents
Investments in Latvia
2021
The effective attraction of investments to the national economy is a key factor, which provides favourable conditions to perform structural changes in the national economy, regional development as well as promotes technical progress. Therefore, investments in the public and the private sectors conduce development of the national economy and provide conditions to increase the overall competitiveness of a country. The purpose of research is to evaluate investment processes in Latvia before and after the global financial crisis, revealing investment-related problems. Also, to calculate the level of the desired investment, which would ensure the Latvia’s average GDP growth of 5% per year, accor…
Leveraging and Deleveraging: Pluses and Minuses
2013
Abstract As in physics, leverage is an amplifier. In business, the leverage is amplifying the losses or the gains. In good times, leverage is good, it is busting the gains, it supports economic growth. Companies and governments are using leverage at large scale. In bad times, it is busting the losses. Companies and governments will have to deleverage. This paper aims to present in brief the concepts of leveraging and deleveraging, to explain why companies, banks and governments are using the leverage, and what are the consequences of using it? The high degree of leverage is one cause of a financial crisis and therefore deleveraging is usually following a financial crisis. We will address th…
Accounting Analysis of Economic Policy of Spain (2012)
2014
The analysis of economic policy is made through a new methodology using the information provided by businesses to the Bank of Spain. The financial statements are the result of economic and financial transactions in a year and show a behavior that is likely to be measured by applying the Edgeworth’s box for analysis. This means that it is possible to measure the response of firms against market disruptions through an accounting interpretation of the information contained in the financial statements. The indicators obtained through this methodology measure a position taken in the Edgeworth’s box. Consequently, the observations obtained are random and therefore may explain the evolution of the…
EUROscepticism and Monetary Security in Europe
2018
By deliberating on the correlations between the monetary security and the EUROsceptic views of the European citizenry and elites, this chapter addresses the problem of supranational monetary policy and the consequences it has for the economic security of the EU and its constitutive member states. The analysis starts with the introduction into the concept of EUROscepticism and its relations with the classical Euroscepticism. Then the second key term of the chapter is defined, which is the monetary security—nested in the general understanding of the economic security. Here, not only the author provides his own understanding of the monetary security, but also discusses its main levels, dimensi…
Modern Monetary Macroeconomics. A New Paradigm for Economic Policy
2012
This timely book uses cutting-edge research to analyse the fundamental causes of economic and financial crises, and illustrates the macroeconomic foundations required for future economic policymaking in order to avoid these crises.
The financial impact of Spanish pension reform: A quick estimate
2012
In this paper, we present a preliminary estimate of the financial impact of the recent reform of the Spanish pension system. After updating the projections of pension expenditure constructed in de la Fuente and Doménech (2010) for the period 2008-2060, we analyze the impact on this variable of raising the retirement age from 65 to 67 years, extending from 15 to 25 years the period over which wages are averaged to calculate the starting pension and increasing from 35 to 37 the number of contribution years required to obtain a 'full pension.' Conditional on a series of assumptions about the evolution of employment, productivity and demographics, our estimates suggest that these measures will …
Modeling the Macroeconomic Effects of Pension Systems
2021
This chapter aims to achieve a socioeconomic perspective on the financial resources of the elderly population, considering the recommendation of international bodies as OECD, WB, EC to diversify financial resources, on one hand by joining private pension funds and, on the other hand by increasing the degree of personal saving. The objective of this chapter pursued the econometric study of the macroeconomic effects of pension systems, in terms of the close correlation between several specific indicators oriented toward macroeconomic stability, the development of the financial sector, and the structure of national pension systems in CEE countries.
A Comparative Analysis of the Power of Selected European Countries. The Economic Determinants
2021
The ever-increasing need for in-depth analysis and quantification of the national power, in particular ‘hard’ and ‘soft’ power-generating factors as well as difficulties in identifying a comprehensive and effective method for scientific determination of the national power, have given rise to research in the indicated scientific issues within this article. The presented considerations aim to define the assumptions for a descriptive sub-model that would enable a comparison of Poland’s power in the economic sphere (which is a component of the non-military sphere) with the power of selected European countries. The research hypothesis is that, among the variety of descriptive variables in the ec…
Public capital and productive efficiency in the Spanish regions (1964–89)
1995
The article analyses the evolution of the differences in economic conditions among Spanish regions from the perspective provided by the recent advances made in economic growth empirics. Although convergence is usually established in terms of Gross Value Added (GVA) per capita, in the case of Spain it is of special interest to break it down into three separate elements: activity rate, employment rate, and productivity of labour. Regional differences in unemployment rates, which persist for long periods of time, are identified as a force against convergence. After describing the distinction between conditional and non conditional convergence, the paper considers the role played by the product…
Public capital, productive efficiency and convergence in the Spanish regions (1964-93)
1998
This paper analyses the behaviour of productive efficiency in the Spanish regions for the period 1964–93. From a growth accounting approach, it describes the regional evolution of total factor productivity (TFP'), based on a private inputs production function. A stricter measure of efficiency is then quantified, which is not equivalent to Solow's residual, since public capital is included in the production function and constant returns to scale are not imposed. Finally, on the basis of the measures of total factor productivity and efficiency, the study discusses the existence of technological convergence among Spanish regions and the role played in it by public capital. The renewed interest…