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Sunday, November 22, 2020 | History

4 edition of Fiscal operations in a depressed economy found in the catalog.

Fiscal operations in a depressed economy

Nigeria, 1960-90

by Akpan Hogan Ekpo

  • 183 Want to read
  • 35 Currently reading

Published by African Economic Research Consortium in Nairobi .
Written in English

    Places:
  • Nigeria.
    • Subjects:
    • Intergovernmental fiscal relations -- Nigeria.,
    • Grants-in-aid -- Nigeria.,
    • Transfer payments -- Nigeria.,
    • Fiscal policy -- Nigeria.

    • Edition Notes

      StatementAkpan H. Ekpo and John E. Udo Ndebbio.
      SeriesAERC research paper ;, 44
      ContributionsNdebbio, John E. Udo.
      Classifications
      LC ClassificationsHJ1501 .E38 1996
      The Physical Object
      Pagination56 p. :
      Number of Pages56
      ID Numbers
      Open LibraryOL654096M
      ISBN 109966900632
      LC Control Number96981065


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Fiscal operations in a depressed economy by Akpan Hogan Ekpo Download PDF EPUB FB2

Fiscal operations in a depressed economy by Akpan Hogan Ekpo,African Economic Research Consortium edition, in EnglishPages: Fiscal operations in a depressed economy.

Nairobi: African Economic Research Consortium, © (OCoLC) Document Type: Book: All Authors / Contributors: Akpan Hogan Ekpo; John E.

FISCAL OPERATIONS IN A DEPRESSED ECONOMY-NIGERIA. © AKPAN H. EKPO and JOHN E. NDEBBI O - AFRICA ECONOMIN RESEARCC CONSORTIUH M CONSORTIUM POUR LA RECHERCHE ECONOMIQU EE N AFRIQUE. Fiscal operations in a depressed economy. march f research paper forty-four fiscal operations in a depressed economy: nigeria, akpan h.

ekpo and john e. ndebbio archiv )mic research consortium consortium pour la recherche economioue en afrioue. This study analyses fiscal federalism in Nigeria. Specifically, the report presents an historical account of fiscal federalism in the economy, highlighting significant episodes as well as drawing out implications for overall fiscal performance.

Furthermore, it attemps to highlight some issues of fiscal centralization and decentralization within the economy. This paper examines Fiscal operations in a depressed economy book and evidence bearing on the efficacy of fiscal policy in severely depressed economies.

In normal times central banks offset the effects of fiscal policy. This keeps the policy-relevant multiplier near zero. It leaves no space for expansionary fiscal policy as a. Fiscal Policy in a Depressed Economy ABSTRACTIn a depressed economy, with short-term nominal interest rates at their zero lower bound, ample cyclical unemployment, and excess capac- ity, increased.

regime-dependence of fiscal multipliers i.e., higher effects Fiscal operations in a depressed economy book output due to discretionary policy shocks in periods of deep economic contractions than in normal economic times or expansions.

As regards hysteresis, i.e. the notion that in a depressed economy featuring ample cyclical unemployment and. In a depressed economy, with short-term nominal interest rates at their zero lower bound, ample cyclical unemployment, and excess capacity, increased government purchases would be neither offset.

Let’s talk about the role of fiscal policy, from the perspective of Lester Chandler’s America’s Greatest Depression.

Please tell us about the book. This book gives a great description of what went on during the Great Depression. It is especially strong in describing the policy response.

Corrections. All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bin:bpeajo:vyipSee general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors. Fiscal policy is the use of taxes and government spending to stabilize the economy. During the first part of the s, contractionary fiscal policy may have deepened the Great Depression.

Afterfiscal policy became more expansionary and may have helped to end the Great Depression. “People often think the US economy stagnated in the Depression all the way through the s; in fact the growth rate of the US economy from until is extremely rapid” For example, some of the things he did was try to organize labour unions and also businesses essentially promoting monopoly – I don’t think that was a g: Fiscal operations.

This book contributes to our understanding of the Great Depression's immediate and long-term impacts on the American economy. Editor Mark Wheeler has gathered six scholars from a range of subdisciplines within economics who, together, offer a diverse look at the Depressions's effects on the nation's GDP, workers and labor markets, and monetary.

The book titled "Fiscal Consolidation, Budget Deficits and the Macro Economy", by Lekha Chakraborty, is a welcome addition to the growing literature that deals with fiscal policy in specific countries, focusing on the longer run and on fiscal consolidation, rather than on a short run and countercyclical s: 2.

Founded inthe NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals. The great depression was a very good lesson to the Federal Reserve and other Central Banks in the monitoring and regulation of the economy through the intervention of the government.

If the U.S government did not intervene the effects would have been worse according to Keynes, and the economy would have collapsed maybe to worse extent.

The budget is the principal instrument of fiscal policy. Budgetary policy exercises control over size and relationship of government receipts and expenditures. We discuss below the common budgetary policies that can be adopted for stabilising the economy.

(1) Budget Deficit—Fiscal Policy during Depression. that an economy could languish indefinitely with high unemployment if aggregate demand is inadequate.

Keynes contended that monetary policy was powerless to boost the economy out of a depression because it depended on reducing interest rates, and in a depression interest rates were already close to. This implies that the economy will be producing below its potential output. As a result, inflation will fall with time.

In order to solve the situation, there is a need to implement an expansionary monetary policy. During the great depression, fiscal policy played an important role in reviving the US economy.

fiscal policy, the budget deficit began growing again inrising to nearly 4% of GDP in despite relatively strong economic conditions. This change in fiscal policy is notable, as expanding fiscal stimulus when the economy is not depressed can result in rising interest rates, a growing trade deficit, and accelerating inflation.

The fiscal policy of a government has a direct influence on that country's economy. The government is involved in fiscal policy any time that it makes payments, purchases goods and services, or even collects taxes.

Any change in the government's fiscal policy affects the economy as well as individuals. Search the world's most comprehensive index of full-text books. My libraryMissing: Fiscal operations.

This chart book documents the economic expansion and will continue to track the evolution of the economy. It supplants its predecessor, “ The Legacy of the Great Recession,” which covers the decade from the start of the recession in December through December with a focus on the plunge into and recovery from the Great.

Fiscal Operations Policy Manual. Fiscal Operations and Policy Manual April 2. INTRODUCTION. The ASSOCIATION’S Fiscal Operations Handbook has been developed as a policy to offer general guidelines about financial controls and procedures of the organization.

The information in the handbook is in accordance with Executive Limitations, a policy framework established by the. Keynes argued that most of the adverse effects of the Great Depression could have been avoided had governments acted to counter the depression by boosting spending through fiscal policy.

Keynes thus ushered in a new era of macroeconomic thought that viewed the economy as something that the government should actively manage.

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. The fiscal expansion successfully resulted in a long-run shift in the French GDP growth rate to above 2%.

The German economy benefitted from the spillover effect of higher French imports of German goods. Fiscal expansionary policy should never be adopted by European economies, as they have high levels of trade with each other. Fiscal policy is the use of taxes and government spending to stabilize the economy.

During the first part of the s, contractionary fiscal policy may have deepened the Great Depression. Afterfiscal policy became more expansionary and may have helped to end the Great Depression.

Economists view monetary policy as the first line of defense against economic slowdowns—the Federal Reserve can act faster than the president or Congress, and it is better equipped to judge the appropriate timing and magnitude of economic stimulus.

Monetary policy—adjustments to interest rates. When revenue generation is impacted, as it often is in a depressed economy, business finance departments are charged with looking for ways to shore up expenses while maintaining productivity.

A complete introduction to economics and the economy taught in undergraduate economics and masters courses in public policy. CORE’s approach to teaching economics is student-centred and motivated by real-world problems and real-world data. Fiscal policy can have a multiplier effect on the economy.

For example, if a $ increase in government spending causes the GDP to increase by $, then the spending multiplier is In addition to the spending multiplier, other types of fiscal multipliers can also be calculated, like multipliers that describe the effects of changing taxes.

The economy, jobs and the role of government were the central issue in the government election, yet listening to the President’s big government Inauguration speech, the deficit and jobs were.

Monetary and fiscal policies cannot contain the full effects of bankruptcies and unemployment, to the extent that central banking ‘accidents’ crop up.

The ’s is. Fiscal Policy. Fiscal policy Government economic policy involving taxation and spending. is the government taxing, spending, and borrowing. In theory, cutting taxes and increasing spending expand the economy and increase employment, while raising taxes and decreasing spending contract the economy and reduce inflation.

Reality is more complex. The new Brookings Paper by Larry Summers and Brad DeLong, Fiscal Policy in a Depressed Economy, is an important document and should be widely explains the conditions under which fiscal.

This study reveals that for the Nigerian economy fiscal policy is more effective than monetary policy for getting the country out of economic depression. Specifically, given the role assigned to the use of government expenditure in the study, government must formulate appropriate policies with regard to its mix of current/capital expenditure.

Biden would pursue a larger fiscal stimulus targeted at households, workers, and small businesses that need it, as well as job-creating infrastructure spending and investments in the green economy. One of the policy objectives of monetary policy is to stabilise the price level. Both economists and laymen favour this policy because fluctuations in prices bring uncertainty and instability to the economy.

Economic Growth: One of the most important objectives of monetary policy in recent years has been the rapid economic growth of an economy.

For a discussion of fiscal policy during the Great Depression, see E. Cary Brown, “Fiscal Policy in the ’Thirties: A Reappraisal,” American Economic Rev no. 5 (December ): – As Figure "World War II Ends the Great Depression" shows, expansionary fiscal policies forced by the war had brought output back to potential.

The Great Depression was the biggest economic contraction in U.S. history. It began inthe year Herbert Hoover became president. He lowered the top income tax rate to 24%, and the top corporate tax rate to 12%. But it was too late. The economy contracted in August, signaling the beginning of the Great Depression.The free-market economy of Sri Lanka was worth $84 billion by nominal gross domestic product (GDP) in and $ billion by purchasing power parity (PPP).

The country has experienced an annual growth of percent from towell above its regional peers but has slowed since then. In with an income per capita of 13, PPP Dollars or 3, () nominal US dollars, Sri.