Impact of Austerity on Economy
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The document discusses the effect of austerity on economies. It defines austerity as economic policies aimed at reducing government budget deficits through lower spending and higher taxes. While austerity aims to restore confidence and improve fiscal positions, it often leads to falls in aggregate demand, higher unemployment, and lower economic growth. The document outlines some determinants that can impact the effects of austerity, such as labor market flexibility, spending policies, monetary policy, exchange rates, and global growth. It also discusses the negative impacts austerity can have through reduced demand, lower output and inflation, as well as some potential positive impacts on competitiveness. The summary concludes that higher taxes and lower spending from austerity may improve budget deficits in the short-run but could lead to lower economic growth
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Fiscal policy refers to government spending and tax policies used to influence macroeconomic conditions. Discretionary fiscal policy involves deliberate changes to spending and taxes, while automatic stabilizers adjust naturally with economic fluctuations. Expansionary policy, like increased spending, aims to boost aggregate demand during recessions by shifting the curve outward, raising real GDP and prices. Contractionary policy, like tax increases, seeks to reduce demand and inflation by shifting the curve inward. The multiplier effect amplifies these impacts. Lags and crowding out limit fiscal policy effectiveness.
Fiscal policy and economic development
It will help the students understand the impact of fiscal policy on the economic growth of a country. it also discuses the case of Pakistan.
Econ789 chapter031
The document discusses fiscal policy, deficits, and debt. It defines fiscal policy as using the federal budget to achieve macroeconomic goals of growth and employment. There are two types of fiscal policy - discretionary, which are deliberate changes to spending and taxes, and non-discretionary, which are automatic changes. Expansionary fiscal policy involves increasing spending or decreasing taxes to boost aggregate demand during recessions, while contractionary policy involves the opposite to reduce inflationary gaps. Large deficits and debt are a long-term concern but bankruptcy is unlikely due to the ability to refinance or collect taxes. Social security and medicare funds face shortfalls that may require reforms like raising the retirement age.
lecture 2.slides.ppt
Fiscal policy aims to achieve objectives like full employment and price stability through instruments like government spending and taxation. While fiscal policy was once used actively to counter business cycle fluctuations, its effectiveness is limited by the difficulties in accurately predicting economic impacts and political interference. Additionally, persistent budget deficits can rapidly increase debt levels, raising sustainability concerns. Most countries now pursue more conservative fiscal policies focused on reducing debt burdens through surpluses rather than attempting discretionary fine-tuning of aggregate demand.
Fiscal policy
Fiscal policy involves discretionary changes to government spending and taxes to achieve economic goals like high employment, price stability, and economic growth. An increase in spending or tax cut expands aggregate demand, while a spending cut or tax increase contracts it. However, fiscal policy faces offsets like crowding out private investment. It also has long and variable time lags making timely responses difficult. Automatic stabilizers like unemployment insurance partially offset downturns. While fiscal policy may be ineffective in normal times, it can boost demand during severe downturns like the Great Depression.
Chapter 11 - Fiscal Policy.pptx
Fiscal policy involves a government using tax rates and spending levels to influence and stabilize a nation's economy. It is based on John Maynard Keynes' theory that governments can impact macroeconomic activity by increasing or decreasing taxes and public spending. Fiscal policy aims to stabilize growth, curb inflation, increase employment, and maintain monetary value by using public spending and tax rate changes to stimulate a recession or decrease demand and inflation during boom periods. The challenges for policymakers are deciding how much the government should intervene in the economy to sustain growth while avoiding too much or too little involvement.
AS Macro Fiscal Policy Questions
The document discusses the effectiveness of cuts in government spending in meeting macroeconomic objectives. It presents three main arguments: 1) the impact depends on where spending is cut, 2) it depends on the magnitude of the cuts, and 3) it depends on external economic conditions. The document also considers the extent to which tax reductions could boost growth in the UK. It analyzes how different types of tax cuts could increase consumer spending, business investment, and competitiveness. However, it notes the UK's current economic context adds uncertainty around these policies.
AS Macro Revision Aspects of the Economic Cycle
This document provides an overview of the economic cycle and key stages including boom, slowdown, recession, and recovery. It defines recession as a period of at least six months of falling output and discusses the output gap. Negative output gaps occur when actual GDP is below potential GDP, resulting in underused resources and higher unemployment. Positive output gaps happen when resources are overutilized, posing inflationary pressures. The document also examines causes of recessions like external shocks or domestic policy changes and analyzes short-term effects like falling profits and rising unemployment as well as potential long-term hysteresis versus creative destruction.
Fiscalpolicy 131208031212-phpapp02
Fiscal policy involves changes to government spending and taxes to influence the economy. The document discusses the types of fiscal policy including expansionary, contractionary, and neutral fiscal policy. Expansionary policy involves increasing spending or decreasing taxes to increase money supply, while contractionary policy does the opposite to reduce money supply and inflation. Fiscal policy aims to achieve long-run growth, full employment and lower prices. However, it faces criticisms like time lags in its effects and potential for increasing budget deficits. The document also examines concepts like the Laffer curve and effects of fiscal policy on unemployment, expansion, and inflation.
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一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
永久可查学历认证【微信：A575476】【美国新罕布什尔大学(unh)毕业证成绩单Offer】【微信：A575476】（留信学历认证永久存档查询）采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信：A575476】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信：A575476】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
→ 【关于价格问题（保证一手价格）
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
选择实体注册公司办理，更放心，更安全！我们的承诺：可来公司面谈，可签订合同，会陪同客户一起到教育部认证窗口递交认证材料，客户在教育部官方认证查询网站查询到认证通过结果后付款，不成功不收费！
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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快速办理(SMU毕业证书)南卫理公会大学毕业证毕业完成信一模一样
学校原件一模一样【微信：741003700 】《(SMU毕业证书)南卫理公会大学毕业证》【微信：741003700 】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
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如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
◇面对父母的压力，希望尽快拿到；
◇不清楚认证流程以及材料该如何准备；
◇回国时间很长，忘记办理；
◇回国马上就要找工作，办给用人单位看；
◇企事业单位必须要求办理的
◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
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Impact of Austerity on Economy
- 1. Effect of Austerity on Economy Presented by: Abhishek Sao (PGDIM-22) 1502008
- 2. AUSTERITY Definition: • Set of economic policies implemented with the aim of reducing government budget deficits Objective • Reduce government spending and increase taxes • Hopes to ‘restore confidence’, improve countries fiscal position and enable long-term recovery Negative Impact • Often leads to fall in aggregate demand, higher unemployment & low economic growth • Can lead to fall in real GDP and higher Debt to GDP ratio Positive Impact • Can reduce budget deficits without any negative impact
- 3. DETERMINANTS Labor Market Flexibility • Easier to implement and benefit from austerity when the flexibility is high Spending • If govt increases retirement age, it can increase labour supply and productivity • If govt cuts spending on infrastructure, it can lower demand and growth Monetary policy • Lowering of interest rates and increasing money supply can balance the deflationary effect of austerity Exchange rate • Negative effects can be assuaged by devaluing of currency (Euro countries suffered because they do not have direct control on currency) Global growth • Austerity will negatively effect if the global market is going down (Exports affected)
- 4. IMPACT • Cut in govt spending and increased tax rate Lower Aggregate Demand & Output growth Higher unemployment • Media coverage of ‘austerity measures’ reduces business confidence • Fear of job losses More savings & less spending Low output growth Lower Demand • Fall in aggregate demand Lower inflationary pressure • Fall in wages Low inflation Lower Inflation • Austerity can lead business to reduce costs hence promoting competitiveness • Can prove beneficial for exports (Ireland moved from trade deficit to surplus due to increased competitiveness after austerity) Competitiveness
- 5. IMPACT SUMMARY • Higher taxes and lower spending will lead to an improvement in the government's budget deficit • If austerity measures cause lower economic growth, the government will also see a fall in cyclical tax revenues • If austerity measures cause unemployment, it will require higher government spending on benefits
- 6. Effects observed • Debt to GDP in UK increased after austerity measures • Growth declined further in Eurozone countries after austerity
- 8. THANK YOU