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Japan’s revitalization plan, dubbed the “three arrows of Abenomics,” devises a three-pronged strategy—combining fiscal, monetary, and structural policies—to overcome that country’s apparent inability to sustain economic recovery. This book is the first comprehensive assessment of Abenomics and the reforms needed to make it a success, including aggressive monetary easing, growth-friendly fiscal consolidation, and structural and financial sector reforms.

Stagnation (Economics) --- Deflation (Finance) --- Disinflation --- Finance --- Economic stagnation --- Stationary state (Economics) --- Steady-state economics --- Economics --- Japan --- Economic conditions --- E-books

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A long-standing conjecture in macroeconomics is that recent declines in exchange rate pass-through are in part due to improved monetary policy performance. In a large sample of emerging and advanced economies, we find evidence of a strong link between exchange rate pass-through to consumer prices and the monetary policy regime’s performance in delivering price stability. Using input-output tables, we decompose exchange rate pass-through to consumer prices into a component that reflects the adjustment of imported goods at the border, and another that captures the response of all other prices. We find that price stability and central bank credibility have reduced the second component.

Foreign Exchange --- Inflation --- Macroeconomics --- Price Level --- Deflation --- Monetary Policy --- Open Economy Macroeconomics --- Currency --- Foreign exchange --- Exchange rate pass-through --- Consumer prices --- Import prices --- Nominal effective exchange rate --- Prices --- Imports --- United States

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This book analyses the causes and consequences of deflation. In contrast to the widespread believe that deflation would be harmful to the economy as a whole, the author argues that free market deflation is liberating and beneficial. Several myths of deflation are exposed and the reasons for the widespread deflation phobia that serves to justify expansionary monetary policy, i.e., inflation are investigated. Two historical case studies, the growth deflation in the US after the Civil War and the bank credit deflation in Germany during the Great Depression are discussed to illustrate the points made in the theoretical analysis of deflation.

Economics/Management Science. --- Macroeconomics/Monetary Economics. --- Financial Economics. --- Economic Policy. --- Economics. --- Economic policy. --- Macroeconomics. --- Finance. --- Economie politique --- Politique économique --- Macroéconomie --- Finances --- Business & Economics --- Economic Theory --- Deflation (Finance) --- Disinflation --- Macroeconomics/Monetary Economics//Financial Economics. --- Finance --- Economic nationalism --- Economic planning --- National planning --- State planning --- Economics --- Planning --- National security --- Social policy

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Ukraine’s gas pricing policy subsidizes gas and heating for all households. As the cost of imported gas rises, this policy increasingly weighs on government finances, sustains energy over-consumption, dampens investment in delivery systems, and undermines incentives for domestic production. However, gas price hikes have been deferred to the medium-term as they are politically unpopular. Through estimation of household demand functions by income quintiles to evaluate the distributional consequences of tarrif reform, this paper finds that tariff reforms combined with targeted social support can address the economic inefficiencies of the current pricing policy without large welfare costs to the lower income segments of the population.

Business & Economics --- Industries --- Natural gas --- Prices --- Economic aspects --- Gas, Natural --- Sour gas --- Gases, Asphyxiating and poisonous --- Hydrocarbons --- Macroeconomics --- Public Finance --- Taxation --- Aggregate Factor Income Distribution --- Trade Policy --- International Trade Organizations --- Macroeconomics: Consumption --- Saving --- Wealth --- Price Level --- Inflation --- Deflation --- National Government Expenditures and Related Policies: General --- Public finance & taxation --- Income --- Tariffs --- Consumption --- Price elasticity --- Expenditure --- National accounts --- Taxes --- Tariff --- Economics --- Expenditures, Public --- Ukraine

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We empirically revisit the crowding-in effect of government spending on private consumption based on rolling windows of U.S. data. Results show that in earlier samples government spending is increasingly crowding in private consumption; however, this relation is reverted in the latest periods. We propose a model embedding non-separable public and private consumption in the utility function and rule-of-thumb consumers to assess the sources of non-monotonic changes in the transmission of the shock. The iterative full information estimation of the model reveals that changes in the co-movement between private and public spending is primarily driven by the fluctuations in the elasticity of substitution between private and public consumption, the share of financially constrained consumers, and the elasticity of intertemporal substitution.

Monetary policy. --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Monetary policy --- E-books --- Labor --- Macroeconomics --- Public Finance --- National Government Expenditures and Related Policies: General --- Macroeconomics: Consumption --- Saving --- Wealth --- Wages, Compensation, and Labor Costs: General --- Price Level --- Inflation --- Deflation --- Public finance & taxation --- Labour --- income economics --- Expenditure --- Private consumption --- Consumption --- Real wages --- Sticky prices --- National accounts --- Prices --- Expenditures, Public --- Economics --- Wages --- United States