Fiscal Policy in Southeast Asia
The extent to which a fiscal policy reducing government spending or raising taxes was put in place in Southeast Asia in the time of the boom of 1995-1996 has been examined. Fiscal policy can be effective in a fixed-exchange-rate system. Three of the central governments in the countries in question had small surpluses or deficits. In 1995 Malaysia and the Philippines had fiscal surpluses of 0.3% of GDP and 0.5% of GDP, respectively. In the 1995-1996 boom in Southeast Asia context, governments would have been wise to cut government spending or increase taxes. Such actions would have a depressing effect on economy and would have lowered the market exchange rate below the administered fixed rates. Local currency would have been bought in arbitrage efforts at a low rate and sold to the central bank at the fixed rate thereby reducing the money supply.
Publication Name: Australian Economic Review
Stuck in low GEAR? Macroeconomic policy in South Africa, 1996-1998
The African National Congress (ANC) has been orthodox in its approach to macroeconomic policy following its election to government in 1995. Monetary policy has been tight, trade has been liberalised, and there has been an emphasis on deficit reduction. The Growth, Employment and Redistribution Programme (GEAR) is meant to be a way of boosting economic growth, at 4.2% for 1996 to 200. This level was not achieved by 1998, and in this sense, GEAR has not been successful. High interest rates and tight fiscal policy appear to be hampering growth, rather than external factors.
Publication Name: Cambridge Journal of Economics
U.S. abortion policy and fertility
A study was conducted to analyze the potential influence of fertility on differing abortion policies. Estimates of the effects of legalization and Medicaid funding were examined. The total fertility rate implied by the estimates under different legal regimes was then simulated using the estimated policy effects. Results indicated that the legalization of abortion and Medicaid funding promotes a significant and demographically important effect.
Publication Name: American Economic Review
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