Under policy coordination (PC), in contrast, fiscal policies
are set jointly by the regions.
However, focusing only on the deficit fails to account for the fact that different fiscal policies
may affect economic growth differently.
The general revenue law, which aims to increase transparency and accountability in the management of government income, will further strengthen the UAE budgeting process and the implementation of its fiscal policies
are pro-cyclical in the countries, where political system is subject to multiple fiscal veto points that results in higher output fluctuation [Stein, et al.
Thus, public debt related to GDP has doubled in just three years, following the pro-cyclical fiscal policies
pursued in previous years the economic crisis, but also because of the economic downturn beginning with 2009.
For now, the sovereign crisis, linked to fiscal policies
, is largely an advanced economy problem.
The cross-border coordination of the expansionary monetary and fiscal policies
implemented in response to the financial crisis has probably contributed to the fact that most countries appear to be emerging from the crisis at the same time (see Chart 1).
Nevertheless, within this broader direction of prudence and discipline, ADO 2010 recognises that there is plenty of scope for improving and strengthening Asia's monetary, exchange rate, and fiscal policies
," the ADB said.
13 (ANI): As the global crisis recedes, developing Asia should exit expansionary monetary and fiscal policies
appropriately and reaffirm its commitment to the sound and responsible policies that have fostered macroeconomic stability and sustained growth.
A comprehensive analysis and critical perspective of national fiscal policies
in the European Union can be found in contributors to the recent Ferreiro et al.
Most of the monetarists also believe that pure fiscal policies
, like increasing government expenditure, financed by taxes, cannot influence real output.
Similarly, if the government tried the reverse fiscal policies
, spending less by cutting either taxes or borrowing, it would leave more for citizens to spend.
Monetary Policy, Fiscal Policies
, and Labour Markets: Macroeconomic Policymaking in the EMU Roel Beetsma, Carlo Favero, Alessandro Missale, Anton Muscatelli, Piergiovanna Natale and Patrizio Tirelli (eds) Cambridge University Press: Cambridge, UK, and New York, 2004, xvi, 373pp.
The real-estate boom and conservative fiscal policies
created a $1 billion windfall for Los Angeles County, which supervisors decided Monday to spend hiring hundreds of deputies and propping up the ailing public health-care system.
625 rate, similar to the one in its last bond issue, thanks to its BB+ credit rating*, which analysts attributed to its prudent and responsible fiscal policies
, its macroeconomic stability, structural reforms, moderate debt and falling poverty.