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STABILIZATION POLICIES IN AN OPEN ECONOMY UNDER ALTERNATIVE EXCHANGE RATE AND WAGE RATE CONDITIONS
Title
STABILIZATION POLICIES IN AN OPEN ECONOMY UNDER ALTERNATIVE EXCHANGE RATE AND WAGE RATE CONDITIONS.
Creator
HORN, KLAUS-PETER., Florida Atlantic University, Redman, Milton, College of Business, Department of Economics
Abstract/Description
This thesis examines how the various instruments of monetary and fiscal policy work in the presence of fixed and flexible exchange rates. Based on the pioneering work of Mundell and Fleming, the traditional view assigns fiscal policy as being highly suitable for a fixed exchange rate regime, while stimulative monetary policy is effective in raising output under floating exchange rates. Once the implicit assumptions of constant prices and wages are relaxed, the conclusions of the original...
Show moreThis thesis examines how the various instruments of monetary and fiscal policy work in the presence of fixed and flexible exchange rates. Based on the pioneering work of Mundell and Fleming, the traditional view assigns fiscal policy as being highly suitable for a fixed exchange rate regime, while stimulative monetary policy is effective in raising output under floating exchange rates. Once the implicit assumptions of constant prices and wages are relaxed, the conclusions of the original model no longer hold. With the introduction of wage indexation as a mean to adjust nominal wages to changes in the price level, the initial results of policies of the Mundell-Fleming type are reversed. Finally, it was examined how the practical implications of policy actions of the United States and West Germany could be applied to the theoretical models.
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Date Issued
1987
PURL
http://purl.flvc.org/fcla/dt/14386
Subject Headings
Monetary policy, Fiscal policy
Format
Document (PDF)
Is operating budget execution really a coherent process?
Title
Is operating budget execution really a coherent process?.
Creator
Campbell, Kenneth Alan, Florida Atlantic University, Mendell, Jay S., Lynch, Thomas D., College for Design and Social Inquiry, School of Public Administration
Abstract/Description
Most of the debate within public budgeting has centered on whether the incremental or non-incremental approach is best. In a theoretical context, little attention has been paid to the actual execution of an entity's budget. Specific theoretical objectives must be met for execution to take place: the objectives have been arranged in different ways, yet the basic requirements have remained constant. The dissertation compared these established theoretical objectives with actual budget execution;...
Show moreMost of the debate within public budgeting has centered on whether the incremental or non-incremental approach is best. In a theoretical context, little attention has been paid to the actual execution of an entity's budget. Specific theoretical objectives must be met for execution to take place: the objectives have been arranged in different ways, yet the basic requirements have remained constant. The dissertation compared these established theoretical objectives with actual budget execution; it concentrated on whether actual budgeting practice met the requirements of budget execution as depicted in normative theory. The research question asked to what extent is practice consistent with theory. The reality of budget practice was determined through survey responses. The questions were based on the procedures required for carrying out the theoretical objectives of execution. Surveys were sent to budget practitioners within the two-county area in southeast Florida. These individuals are responsible for public sector budgeting within their various entities on a state, county, and local level. The survey asked for the respondents perceptions of actual practice as it related to budget execution within their entity. The individual responses were evaluated and analyzed. Factor Analysis was used to determine the loading of eleven specific objectives. The patterns created by the factor loading were explored; it established how the objectives were viewed and whether there was a monolithic approach to execution. The results of the factor loading suggested that, in practice, budget objectives are not recognized as a cohesive process. Theory failed to match actual budget execution. Established procedures found in theory are only partially recognized by those who practice budgeting. A chi-square analysis of the survey results were examined to establish internal validity of the survey instrument and determine whether the responses were influenced by the independent variables. The results of the chi-square failed to note any influence on the responses.
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Date Issued
1994
PURL
http://purl.flvc.org/fcla/dt/12374
Subject Headings
Fiscal policy, Finance, Public, Budget
Format
Document (PDF)
ALTERNATIVE VIEWS OF THE ECONOMIC EFFECTS OF GOVERNMENT DEFICITS
Title
ALTERNATIVE VIEWS OF THE ECONOMIC EFFECTS OF GOVERNMENT DEFICITS.
Creator
TROMBINO, FRANK V., Florida Atlantic University, Manage, Neela D., College of Business, Department of Economics
Abstract/Description
Federal government budget deficits and federal government debt have been the cause of controversy and debate in recent years. Economists have argued over the effects of government debt and government deficits in the economy. Of particular interest is the view that associates large government deficits and government debt to higher rates of interest and to reduced private investment in the economy. An alternative view contends that federal budget deficits and federal debt have no effect on...
Show moreFederal government budget deficits and federal government debt have been the cause of controversy and debate in recent years. Economists have argued over the effects of government debt and government deficits in the economy. Of particular interest is the view that associates large government deficits and government debt to higher rates of interest and to reduced private investment in the economy. An alternative view contends that federal budget deficits and federal debt have no effect on interest rates and private investment in the economy. Statistical techniques were used to test both views regarding the effects of budget deficits.
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Date Issued
1986
PURL
http://purl.flvc.org/fcla/dt/14335
Subject Headings
Budget deficits--United States, Fiscal policy--United States
Format
Document (PDF)
impact of the budget deficit on key macroeconomic variables in the major industrial countries
Title
The impact of the budget deficit on key macroeconomic variables in the major industrial countries.
Creator
Al-Khedair, Saleh Ibrahim, Florida Atlantic University, Thai, Khi V.
Abstract/Description
This study was conducted to analyze the impact of the budget deficit on key macroeconomic variables in the seven major industrial countries (G-7): Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. Four models were developed to test the impact of the budget deficit on the variables of importance within the economies of the countries in question. The first model tested the relationship between the budget deficit and the short-term interest rate. The second...
Show moreThis study was conducted to analyze the impact of the budget deficit on key macroeconomic variables in the seven major industrial countries (G-7): Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. Four models were developed to test the impact of the budget deficit on the variables of importance within the economies of the countries in question. The first model tested the relationship between the budget deficit and the short-term interest rate. The second explored the impact of the budget deficit on the long-term interest rate. The third model examined the impact of the budget deficit on the trade balance. The fourth and final model was specified to explain the relationship between the budget deficit and economic growth. The data utilized in this study covered the period from 1964 to 1993 and were gathered mainly from the international statistics of the International Monetary Fund. The data were standardized in the form of the percentage of the gross domestic product and the percentage change over the previous year in order to compile similar data across the seven countries. Multiple regression analysis as well as meta analysis were used to analyze the data. The multiple regression results indicated that the budget deficit leads to higher short-term interest rates in Japan and the United States. With respect to the long term-interest rate, the budget deficit led to an increase of this rate in France, Germany, and the United States. The budget deficit, however, appeared to worsen the trade balance in Canada. In Italy and the U.S., the trade balance improved with the budget deficit. With respect to the economic growth, the budget deficit is a significant variable of growth in France, Germany, and Italy. When the data for the seven countries were combined in meta analysis, the results showed that the budget deficit led to higher short-term interest rates in the seven countries. The budget deficit, however, did not manifest any impact on the long-term interest rates. The trade balance was worsened by the budget deficit and the economic growth improved in all the seven major industrial countries.
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Date Issued
1996
PURL
http://purl.flvc.org/fcla/dt/12466
Subject Headings
Debts, Public, Budget deficits, Fiscal policy, International economic relations
Format
Document (PDF)
MONETARY AND FISCAL POLICIES AND THE BALANCE OF PAYMENTS
Title
MONETARY AND FISCAL POLICIES AND THE BALANCE OF PAYMENTS.
Creator
OKTAR, MURAT RUSTU., Florida Atlantic University, Redman, Milton, College of Business, Department of Economics
Abstract/Description
This thesis deals with the effect of the fiscal and monetary policies in the models of the balance of payments for a small country model with and without nontraded goods. The first chapter provides an introduction. In Chapter Two, a balance of payments model which makes no distinction between traded and nontraded goods is examined under the fixed and flexible exchange rates. In Chapter Three, the definition of nontraded goods is given and the Dornbush model is analyzed in the case of demand...
Show moreThis thesis deals with the effect of the fiscal and monetary policies in the models of the balance of payments for a small country model with and without nontraded goods. The first chapter provides an introduction. In Chapter Two, a balance of payments model which makes no distinction between traded and nontraded goods is examined under the fixed and flexible exchange rates. In Chapter Three, the definition of nontraded goods is given and the Dornbush model is analyzed in the case of demand shift from the traded goods to nontraded goods and the transfer payments to the foreign country. In Chapter Four, a balance of payments model with nontraded goods is examined under the fixed and flexible exchange rates. The fifth chapter summarizes the previous chapters and gives some conclusions.
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Date Issued
1982
PURL
http://purl.flvc.org/fcla/dt/14109
Subject Headings
Balance of payments--Mathematical models, Fiscal policy--Mathematical models, Monetary policy--Mathematical models
Format
Document (PDF)