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Modern economies become more and more open and the external sector of an economy becomes more and more important. This textbook aims at clarify ing how an open economy functions, in particular at explaining the determi nants of international fiows of commodities and financial assets. It also aims at examining the effects of these fiows on the domestic and international econ omy and the possible policy acti.ons at the national and international level. Particular attention will be paid to the problems of international economic at both the commercial and monetary level. integration Students will be able to read and interpret the balance of payments of a country, evaluating the various types of balance, to explain the behaviour of commercial fiows in the light of the theories studied, to analyze fiows of financial assets according to interest-rate differentials and other elements, to study the forces that determine exchange rates and cause currency crises, to understand the reasons behind international economic integration such as the European Union, to evaluate the effects of national and international policies.
In this book, 10 international scholars examine the complex relationship between the economy and the polity from a scientific rather than an ideological point of view. In so doing, they present an overview of the exciting new work now being done, the main ideas and controversies now prevalent, and the new approaches to the study of political economy now being pursued.
Arguing that there were important elements of continuity in the decisions of the Treasury and the Bank of England, this survey of macroeconomic policy in Britain contains a chronological account of policy actions that covers the most influential writings of economists during this period.
A complete course in applied macroeconomics at the intermediate level that emphasizes the application of economic theory to real-world data and policy.
No detailed description available for "Budgetary Politics and Elections".
The 1986 pre-election year in the Federal Republic of Germany was an interesting one. Starting with the communal elections in Schleswig-Holstein in March, the parties began to prepare themselves for the big upcoming event - the general election in January 1987. The governing Christian Democrats (CDU) suffered a severe vote loss in this March election as part of their most loyal supporters - the farmers - decided to abstain due to a general dissatisfaction with EEC regulations and agricultural government policies. In order to avoid further farmers' boycotts for the next 'Lander'-elections in Lower Saxony in June, Bavaria in October and Hamburg in November, the federal government sprang into action. A 500 million DM programme was passed in the beginning of June, which reduced the farmers' contributions to the agrarian social security system with retrospective effect to January 1986. As a result of the reactor accident in Tschernobyl another 500 million DM were promised to cover the losses of agricultural products because of radio activity. In order to appease the farmers even more, a special election gift of 100 million DM to subsidize fallow land was given to Lower Saxony's farmers one week before the election took place. At the same time the parliament increased veterans' benefits by 2,15% from July onwards, further increases being promised by January 1987. The predominant social policy issue, however, concerned old age pensions, more precisely, the question of adopting a so-called 'baby year' in pension law. The coalition government in Bonn decided to give all women born before 1921 a monthly payment of 25 DM for each child. The programme will start in October 1987 and will gradually include all female pensioners with children by 1990. Described by Chancellor Kohl as a new dimension in social policy, the programme will cost 3,3 billion DM per year by 1990.