Welcome to our book review site go-pdf.online!
You may have to Search all our reviewed books and magazines, click the sign up button below to create a free account.
A Modern History of Fiscal Prudence and Profligacy
We draw on a newly collected historical dataset of fiscal variables for a large panel of countries—to our knowledge, the most comprehensive database currently available—to gauge the degree of fiscal prudence or profligacy for each country over the past several decades. Specifically, our dataset consists of fiscal revenues, primary expenditures, the interest bill (and thus both the primary and the overall fiscal deficit), the government debt, and gross domestic product, for 55 countries for up to two hundred years. For the first time, a large cross country historical data set covers both fiscal stocks and flows. Using Bohn’s (1998) approach and other tests for fiscal sustainability, we document how the degree of prudence or profligacy varies significantly over time within individual countries. We find that such variation is driven in part by unexpected changes in potential economic growth and sovereign borrowing costs.
Inflation and Public Debt Reversals in the G7 Countries
This paper investigates the impact of low or high inflation on the public debt-to-GDP ratio in the G-7 countries. Our simulations suggest that if inflation were to fall to zero for five years, the average net debt-to-GDP ratio would increase by about 5 percentage points over the next five years. In contrast, raising inflation to 6 percent for the next five years would reduce the average net debt-to-GDP ratio by about 11 percentage points under the full Fisher effect and about 14 percentage points under the partial Fisher effect. Thus higher inflation could help reduce the public debt-to-GDP ratio somewhat in advanced economies. However, it could hardly solve the debt problem on its own and would raise significant challenges and risks. First of all, it may be difficult to create higher inflation, as evidenced by Japan’s experience in the last few decades. In addition, un-anchoring of inflation expectations could increase long-term real interest rates, distort resource allocation, reduce economic growth, and hurt the lower–income households.
Ariel
None
The Living Church
None
Broadway Musicals, 1943-2004
On March 31, 1943, the musical Oklahoma! premiered and the modern era of the Broadway musical was born. Since that time, the theatres of Broadway have staged hundreds of musicals--some more noteworthy than others, but all in their own way a part of American theatre history. With more than 750 entries, this comprehensive reference work provides information on every musical produced on Broadway since Oklahoma's 1943 debut. Each entry begins with a brief synopsis of the show, followed by a three-part history: first, the pre-Broadway story of the show, including out-of-town try-outs and Broadway previews; next, the Broadway run itself, with dates, theatres, and cast and crew, including replacements, chorus and understudies, songs, gossip, and notes on reviews and awards; and finally, post-Broadway information with a detailed list of later notable productions, along with important reviews and awards.
Major Donors
None
Clinical Neuropsychological Assessment
Practicing neuropsychologists and students in clinical neuropsychology must increas ingly cross disciplinary boundaries to understand and appreciate the neuroanatomical, neurophysiological, and neuropharmacological bases of cognition and behavior, cur rent cognitive theory in many different domains of functioning, and the nature and tools of clinical assessment. Although the cognitive functions and abilities of interest are often the same, each of these fields has grappled with them from sometimes very different perspectives. Terminology is often specific to a particular discipline or ap proach, methods are diverse, and the goals or outcomes of study or investigation are usually very differe...
Rethinking Macro Policy II
This note explores how the economic thinking about macroeconomic management has evolved since the crisis began. It discusses developments in monetary policy, including unconventional measures; the challenges associated with increased public debt; and the policy potential, risks, and institutional challenges associated with new macroprudential measures. Rationale: The note contributes to the ongoing debate on several aspects of macroeconomic policy. It follows up on the earlier “Rethinking” paper, refining the analysis in light of the events of the past two years. Given the relatively fluid state of the debate (e.g., recent challenges to central bank independence), it is useful to highlight that while many of the tenets of the pre-crisis consensus have been challenged, others (such as the desirability of central bank independence) remain valid.
Portland Transcript
None
