Public Economics Commons^™

Indikator Makroekonomi Dalam Perspektif Sentimen Media Massa Internasional Di Negara Asean, Eman Sukmana, Musdalifah Musdalifah, Bakhtiar Amaludin, Anton Nurcahyo

Jurnal Ekonomi dan Pembangunan Indonesia

This study was conducted to analyze the effect of international mass media sentiment on macroeconomic indicators in five ASEAN countries, namely Indonesia, Malaysia, Thailand, Singapore, and Brunei Darussalam. The purpose of this study is to develop a macroeconomic forecast model based on the analysis of macroeconomic indices and international sentiment that combines GDELT and World Development Indicators (WDI) data. The research result states that each economic index variable has a correlation with the news sentiment variable. The indicators most correlated with the news sentiment variable were Current Account Balance (CAB) (0.777628), Foreign Direct Investment (FDI) (0.727840), and Inflation (-0.223941). Therefore, …

The Roaring Twenties After Covid-19: Revisiting The Evidence For Europe, Alessio Terzi

Journal of New Finance

Inspired by conspicuous historical parallels, some scholars and journalists have recently postulated that GDP growth and productivity might boom in the aftermath of the Covid-19 pandemic. This paper reviews the evidence for and against the ‘Roaring 20s’ hypothesis, concluding that some countries might experience a forceful economic expansion, possibly fuelled by pent-up demand, compounding a successful digital and green transition, or leveraging an export-led model. However, a strong prolonged economic bonanza is unlikely to materialise evenly across the EU. An uneven recovery would acquiesce imbalances within the Union, and especially the euro area. As such, policymakers should avoid complacency, and …

Monetary And Fiscal Policies In The Covid-19 Crisis. Will They Work?, Daniel Lacalle

Journal of New Finance

The spread and mortality rate of the COVID-19 virus has created enormous strains on global healthcare systems and driven governments to take extreme measures to contain the virus, including the lock down of most citizens and shutting down most economic sectors. Due to these unique challenges and coming from an economy that was weak already in 2018 and 2019, the world faces a global crisis of unprecedented impact and high uncertainty about the recovery process. In this paper, we analyze how the world economy is addressing the COVID-19 pandemic. We start with the situation of the main economic regions at …

The Dutch Credit Guarantee Scheme (Netherlands Gfc), Lily Engbith

Journal of Financial Crises

As fallout from the global financial crisis intensified in October 2008, governments around the world sought to implement stabilization measures in order to calm and protect their domestic markets. While not directly exposed to the subprime mortgage crisis, the Kingdom of the Netherlands announced the creation of the Dutch Credit Guarantee Scheme (the Guarantee Scheme) on October 13, 2008, to boost confidence in interbank lending markets and to ensure the flow of credit to Dutch households and companies. In establishing this program, the Dutch State Treasury Agency of the Ministry of Finance (DSTA) committed €200 billion to support the issuance …

The State Guarantee Of External Debt Of Korean Banks (South Korea Gfc), Lily S. Engbith

Journal of Financial Crises

Following the Lehman Brothers bankruptcy of September 15, 2008, a number of foreign governments enacted stabilization measures in order to bolster their currencies and inject much-needed liquidity into domestic markets. As part of its effort, the Korean Ministry of Strategy and Finance announced a series of government interventions that included a three-year guarantee of foreign debt issued (including extensions of maturity) by domestic banks between October 20, 2008, and June 30, 2009. This opt-in program was introduced as a preemptive step in ensuring that Korean financial institutions would retain competitive access to external funding in the wake of the global …

The Italian Guarantee Scheme (Italy Gfc), Lily Engbith

Journal of Financial Crises

The collapse of Lehman Brothers on September 15, 2008, and its severe impact on global credit markets impelled governments around the world to enact stabilization measures to calm and protect their domestic economies. The Italian Republic, while not directly affected by the US subprime mortgage crisis, preemptively implemented emergency procedures and programs to ensure the stability of their banking system. Announced with the passage of Decree-Law No. 157 on October 13, 2008, and legally enforced under Law 190/2008 of December 4, 2008, the Italian Guarantee Scheme (the Guarantee Scheme) was aimed at protecting institutions whose interbank lending abilities had the …

The Guarantee Scheme For Bank Funding In Finland (Finland Gfc), Lily Engbith

Journal of Financial Crises

As the global financial crisis raged in October 2008, its severe impact on global credit markets impelled governments to enact stabilization measures to calm and protect their domestic economies. The Republic of Finland, though not directly affected, designed preemptive interventions to mitigate disruption to its financial system. Among them was the Guarantee Scheme for Bank Funding in Finland (the Guarantee Scheme), announced on October 22, 2008, and implemented on February 12, 2009, which aimed to support banks and mortgage institutions with their short- and medium-term financing needs. Under the program, the Finnish State Treasury made up to €50 billion available …

Japan's Special Funds-Supplying Operations (Japan Gfc), Alec Buchholtz

Journal of Financial Crises

Following the collapse of Lehman Brothers in September 2008, the global commercial paper (CP) market began to tighten as interest rates rose and investors sought more-liquid money market securities. The Bank of Japan (BOJ) introduced several measures in late 2008 to make liquidity available to nonfinancial corporations that were strapped for cash. In December 2008, the BOJ implemented special funds-supplying operations in order to provide unlimited liquidity to banks and other financial institutions so they could continue to fund nonfinancial corporations. The BOJ would provide one- to three-month loans against an equal value of eligible corporate debt at a rate …

Japan's Outright Purchases Of Commercial Paper (Japan Gfc), Alec Buchholtz

Journal of Financial Crises

Following the collapse of Lehman Brothers in September 2008, the global commercial paper (CP) market began to tighten as interest rates rose and investors sought more-liquid money market securities. The Bank of Japan (BOJ) introduced several operations in late 2008 to promote liquidity in the CP market. In January 2009, the BOJ began to purchase CP and asset-backed CP outright from banks and other financial institutions. The BOJ could purchase up to ¥3 trillion of CP with a residual maturity of up to three months, among other short-term securities, via 10 purchases of up to ¥300 billion each. The BOJ …

The Primary Dealer Credit Facility (Pdcf) (U.S. Gfc), Karen Yang

Journal of Financial Crises

On March 16, 2008, the Federal Reserve created the Primary Dealer Credit Facility, or PDCF, to provide overnight funding to primary dealers in the tri-party repurchase agreement (repo) market, where lenders had become increasingly risk averse. Loans were fully secured by (initially) investment-grade securities and offered at the primary credit rate by the Federal Reserve Bank of New York. The eligible collateral was significantly expanded in September 2008, after rumors of Lehman Brothers potentially filing for bankruptcy, to include all of the types of instruments that could be pledged at the two major tri-party repo clearing banks. The PDCF was …

Restructuring And Forgiveness In Financial Crises C: The Swedish Banking Crisis Of 1990-94, Christian M. Mcnamara, Dr. Lars Thunell, Andrew Metrick

Journal of Financial Crises

In the Spring of 1992, the Swedish government faced a dilemma. The country was in the midst of an economic downturn stemming from the collapse of asset prices (especially in real estate) that had spiked as a result of a credit boom that followed the deregulation of the Swedish banking system in the mid-1980s. Initially the impact of the downturn on the country’s banks had seemed to be limited to a small number of specific firms that the government moved to assist on an ad hoc basis in 1991. However, evidence was mounting that the banking crisis was reaching a …

Basel Iii D: Swiss Finish To Basel Iii, Christian M. Mcnamara, Natalia Tente, Andrew Metrick

Journal of Financial Crises

After the Basel Committee on Banking Supervision (BCBS) introduced the Basel III framework in 2010, individual countries confronted the question of how best to implement the framework given their unique circumstances. Switzerland, with a banking industry that is both heavily concentrated and very large relative to the size of its overall economy, faced a special challenge. It ultimately adopted what is sometimes referred to as the “Swiss Finish” to Basel III—enhanced requirements applicable to Switzerland’s “too-big-to-fail” banks Credit Suisse and UBS that go beyond the base requirements established by the BCBS. Yet the prominent role played by relatively new contingent …

Basel Iii A: Regulatory History, Christian M. Mcnamara, Thomas Piontek, Andrew Metrick

Journal of Financial Crises

From the earliest efforts to mandate the amount of capital banks must maintain, regulators have grappled with how best to accomplish this task. Until the 1980s, regulation had been based largely on discretion and judgment. In the wake of two bank failures, the central bank governors of the G10 countries established the Basel Committee on Banking Supervision (BCBS) and in 1988, the BCBS introduced a capital measurement system, Basel I. The system represented a triumph of the fixed numerical approach, however, critics worried that it was too blunt an instrument. In 1999, the BCBS issued Basel II, a proposal to …

The Oppressive Pressures Of Globalization And Neoliberalism On Mexican Maquiladora Garment Workers, Jenna Demeter

Pursuit - The Journal of Undergraduate Research at The University of Tennessee

The international economic trends of globalization and neoliberalism have exposed and enabled the exploitation of Mexican workers, especially women in the maquiladora garment industry. During the 1950s, globalization gave rise to the new international division of labor and transnational corporations (TNCs) that have offshored labor-intensive phases of production to developing countries, many of which have pursued export-led industrialization. Export processing in Mexico was encouraged in the 1960s by Item 807 of the U.S. Tariff Code and Mexico’s Border Industrialization Program. Especially following the Latin American debt crisis of the 1980s, advanced capitalist countries and International Financial Institutions foisted neoliberal structural …

Economic Evaluation Of Coastal Land Loss In Louisiana, Stephen R. Barnes, Craig Bond, Nicholas Burger, Kate Anania, Aaron Strong, Sarah Weilant, Stephanie Virgets

Journal of Ocean and Coastal Economics

Louisiana has lost approximately 1,880 square miles of land over the past eighty years. Projections suggest that in a future without action, the next fifty years could result in the loss of 1,750 additional square miles of land area. As land loss continues, a large portion of the natural and man-made capital stocks of coastal Louisiana will be at greater risk of damage, either from land loss or from the associated increase in storm damage. We estimate the replacement cost of capital stock directly at risk from land loss ranges from approximately $2.1 billion to $3.5 billion with economic activity …

Corporate Responsibility In Peace Building, Conflict Prevention And Development: The Role Of The Mining Sector In Ghana, Abdul Karim Issifu

Journal of Interdisciplinary Conflict Science

This article seeks to explore the role of the mining sector in peace building, conflict prevention and community development in Ghana. After thoroughly reviewing secondary data, including articles, books, journals, newspapers, etc., via critical document review and qualitative research approaches the research found that, there is no legal document on CSR in Ghana, yet mining companies in a free will, have executed CSR programs laying down for peace, security and development in the country. More so, this article provides a theoretical support for the Integrative theory of CSR on the basis that, the socio-economic, political, cultural and environmental needs of …

Ocean Economy Valuation Studies In The Asia-Pacific Region: Lessons For The Future International Use Of National Accounts In The Blue Economy, Alistair Mcilgorm

Journal of Ocean and Coastal Economics

There have been several projects that have addressed the challenges of measuring the ocean economy in the Asia-Pacific region. The paper examines some lessons from these projects and the implications for the future use of national accounts.

Following the Asia Pacific Economic Cooperation (APEC) Bali declaration, the APEC Marine Resource Conservation Working group’s “Measuring the Marine economy” project promoted consistent measurement of the marine economy across the 21 APEC economies against a list of agreed marine industry categories which was developed by an APEC workshop on Easter Island in 2004.

In 2008-09 a Partnership for the Environmental Management of the …

The Gettysburg Economic Review, Volume 9, Spring 2016

Gettysburg Economic Review

No abstract provided.

Signed Peer Reviews As A Means To Improve Scholarly Publishing, Linwood H. Pendleton

Journal of Ocean and Coastal Economics

Peer review is a necessary process with a long history of complaints, including over-solicitation of a small number of reviewers, delays, inadequate numbers of reviewers, and a lack of incentives to provide strong reviews or avoid reviews with little helpful information for the author. In the era of Web-based distribution of research, through working paper or project reports, anonymous peer reviews are much less likely. The Journal of Ocean and Coastal Economics will use signed peer reviews and an open communication process among authors, reviewers, and editors. This approach, to be developed over time, should lead to stronger communication of …

The Gettysburg Economic Review, Volume 8, Spring 2015

Gettysburg Economic Review

No abstract provided.

Analysis Of External Debt Dynamics In Ecowas Economies, A. C. Chuku

Economic and Financial Review

This paper recognised the importance of identifying the core determinants of external debt dynamics in ECOWAS economies. Using a panel dynamic generalised least squares procedure, the study sought to identify the core determinants of external debt dynamics in 12 ECOWAS economies from 1970 to 2009. Overall, the findings revealed six core determinants of external debt in ECOWAS economies. Inflation, external reserves, per capita income and real oil prices were inversely related with external debt ratio; while, GDP gap and real effective exchange rate depreciation directly affected external debt. Significant dissimilarities were observed in the influence of government size and inflation …

The Gettysburg Economic Review, Volume 7, Spring 2013

Gettysburg Economic Review

No abstract provided.

China’S Local Government Debt And Economic Growth, Jia Qi Zhou

Gettysburg Economic Review

This paper explores the impact of China’s local government debt on economic growth. This analysis, based on a panel of 31 provinces over 14 years, takes into account a broad range of economic growth determinants as well as various estimation issues including heteroskedascity and omitted variable. The empirical results suggest an inverse relationship between China’s local government debt and economic growth, controlling for other determinants of growth: on average, a 10 percentage point increase in the debt-to-GDP ratio is associated with a slowdown in annual real per capita GDP growth of around 0.27 percentage points per year.

The Gettysburg Economic Review, Volume 6, Spring 2012

Gettysburg Economic Review

No abstract provided.

The Gettysburg Economic Review, Volume 5, 2011

Gettysburg Economic Review

No abstract provided.

Friedrich Von Hayek: The Socialist-Calculation Debate, Knowledge Arguments, And Modern Economic Development, Cara A. Elliott

Gettysburg Economic Review

At the close of the nineteenth and the commencement of the twentieth century, socialism began to gain momentum as a large-scale movement in Europe and the United States. This popularity was supported by an increased influence of the working class in society, which put pressure for representation upon European parliaments and began to secure concrete improvements in labor protection laws. Moreover, socialist proponents looked hopefully towards the living example of the Soviet Union, which began its socialist experiment in 1917 following the success of the Bolshevik Revolution. Socialism, which found its economic grounding in the legacies of such men as …

The Gettysburg Economic Review, Volume 4, Spring 2010

Gettysburg Economic Review

No abstract provided.

A Comprehensive Economic Stimulus For Our Failing Economy, Sarah R. Anderson, Steven T. Ferraro, Jeffrey D. Greenlaw, Justin E. Holz, David H. Krisch, Jonathan M. Koury, Jamee L. Kuznicki, Stephen M. Mcnamee, Jeffrey D. Ryckbost, Kristi L. Saeger, Andrew L. Smith, Daniel B. Sprague, Ryan Willaurer, Timothy D. Wills, Benjamin B. Wood

Gettysburg Economic Review

This paper presents a comprehensive plan to fix the ailing American economy, through a five-step approach. First, the Federal Reserve must continue to broaden the scope of monetary policy, by purchasing and selling long-term securities. Manipulating expectations through FOMC statements is another tool at the Federal Reserve’s disposal. Secondly, the government must enact fiscal stimulus to stabilize the economy in the short and medium runs, through investment in infrastructure projects, green technology, fusion technology, and science education. Additionally, the new fiscal policy must tackle the mortgage meltdown, which is weighing down the entire economy. Third, the regulatory system must be …

The Economic Decline Of Zimbabwe, Chidochashe L. Munangagwa

Gettysburg Economic Review

For the past decade, Zimbabwe has been experiencing an economic decline that has resulted in an inflation rate of 231 million percent and an unemployment rate of over 90 percent. Past research has concluded that the economic decline of Zimbabwe has mainly been caused by poor monetary policies and failure of fiscal policies to control the budget deficit. This research aimed to closely examine some of these policies that the Zimbabwean government implemented, the effects of these policies on economic activity, employment and inflation levels in the country. By interviewing many economic analysts in Zimbabwe, I managed to gather the …

The Gettysburg Economic Review, Volume 3, Spring 2009

Gettysburg Economic Review

No abstract provided.