			Home About us Contact

Policy Package (policy + package)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	60%

Selected Abstracts

Anatomy of employment growth

ECONOMIC POLICY, Issue 34 2002
Pietro Garibaldi
Summary This paper studies net employment growth across 21 OECD economies since 1980, focusing on the wide range of experiences within the European Union. The initial composition of employment across sectors is relevant in a few countries, but can only partially account for cross-country differences in net employment growth. Institutions play a more important role. A policy package including low dismissal costs and low taxation is significantly associated with high net employment growth and can account for a substantial share of cross-country differences. While the Netherlands' employment miracle is largely accounted for by an increase in part-time jobs for women aged 25,49 in the services sector, we find that in the whole sample part-time jobs largely replace full-time jobs, and temporary jobs replace permanent jobs, with small net effects on hours worked. Continental Europe did not increase employment as much as other OECD countries until the mid-1990s, but later appears to be staging a resurgence of employment growth. We argue that this resurgence is not merely cyclical, is likely related to reforms, and may well be there to stay. [source]

Interest rate rules and global determinacy: An alternative to the Taylor principle

INTERNATIONAL JOURNAL OF ECONOMIC THEORY, Issue 4 2009
Jean-Pascal Bénassy
E43; E52; E58; E62; E63 A well-known determinacy condition on interest rate rules is the "Taylor principle," which states that nominal interest rates should respond more than 100 percent to inflation. Unfortunately, notably because interest rates must be positive, the Taylor principle cannot be satisfied for all interest rates, and as a consequence global determinacy may not prevail even though there exists a locally determinate equilibrium. We propose here a simple alternative to the Taylor principle, which takes the form of a new condition on interest rate rules that ensures global determinacy. An important feature of the policy package is that it does not rely at all on any of the fiscal policies associated with the "fiscal theory of the price level," which has so far been the main alternative for determinacy. [source]

Oil demand in transportation sector in Iran: an efficiency and income asymmetric modelling approach

OPEC ENERGY REVIEW, Issue 4 2007
Mohammad Mazraati
The transportation sector in Iran consumed about 52 per cent of oil demand in 2005. This high consumption rate of oil in the sector is fuelled by many factors including fiscal policies structural, as well as infrastructural factors. The vehicle ownership (intensity), efficiency of vehicles, public transportation, transport infrastructure, per capita income, cost of vehicle use, and fuel prices are among the factors which are shaping the trend of oil demand in this very important sector. Energy in Iran is heavily subsidized and in the transportation sector, the subsidy amounted to $3.59 billion in 1996, rising to $12.43 billion in 2005. Logistic model of vehicle ownership is estimated as a function of real per capita income, length of roads and other explanatory variables. Per capita income is a cumulative non-declining variable incorporating the idea of income asymmetric. Oil demand is estimated as a function of fuel efficiency, age of car fleet, per capita income and vehicle ownership per 1,000 inhabitants. Oil demand elasticities of vehicle ownership and fuel efficiency are 1.29 and 1.11, respectively, confirming that these variables have major impacts on oil demand in the transportation sector. It is concluded that rationing of fuel or upward price adjustment merely cannot curb the fast growth of oil demand in the sector. A policy package including mandatory fuel efficiency standards, scraping of old vehicles, upward fuel price, and development of public transportation could lead to better management of fuel consumption in this sector. [source]

MACROECONOMIC PERFORMANCE AND INEQUALITY: BRAZIL, 1983,94

THE DEVELOPING ECONOMIES, Issue 1 2009
Manoel BITTENCOURT
D31; E31; O11; O54 We examine how poor macroeconomic performance, mainly in terms of high rates of inflation, affected earnings inequality in the 1980s and early 1990s in Brazil. The results, based initially on aggregate time series, and then on sub-national panel time-series data and analysis, show that the extreme inflation, combined with an imperfect process of financial adaptation and incomplete indexation coverage, had a regressive and significant impact on inequality. The implication of the results is that sound macroeconomic policies, which keep inflation low and stable in the long run, should be a necessary first step of any policy package implemented to alleviate inequality in Brazil. [source]

INTERNATIONAL PRODUCTION/DISTRIBUTION NETWORKS AND INDONESIA

THE DEVELOPING ECONOMIES, Issue 1 2005
Fukunari KIMURA
This study examines the industrialization performance of Indonesia through a comparative evaluation with other East Asian economies. While neighboring countries actively formulated international production/distribution networks, Indonesia fell behind in utilizing the benefits of globalizing corporate activities. International production/distribution networks are supported by new economic thought such as fragmentation, agglomeration, and theories about corporate firm; and a policy package of development strategies should be designed to utilize such opportunities. The design of Indonesia's development strategies and "institutions", however, does not conform to the globalizing world because the presence of network-forming foreign companies is not large enough to make them influential "actors". This author argues that the traditional comparative advantage argument for Indonesia's economic development is possibly misleading. Rather, Indonesia must learn the experience of its neighboring countries and introduce foreign companies as new actors to break the old "structure". [source]