Title: Three essays in applied macroeconomics
Authors : Riguzzi, Marco
Advisors / Reviewers : Dellas, Harris
Collard, Fabrice
Extent : 156
Publisher / Ed. Institution : Winter Industries
Publisher / Ed. Institution: Berlin
Issue Date: 28-Mar-2013
License (according to publishing contract) : Licence according to publishing contract
Language : English
Subject (DDC) : 330: Economics
Abstract: In order to counter the economic crisis of the recent years, fiscal stimulus programs have been launched in numerous economies around the globe. In February 2009, the United States of America decided to spend a nominal amount of 787 billion U.S. dollars to support the economy, accounting for 5.5% of annual GDP. The U.S. are all but alone on this track. In the face of the crisis, political decision makers from several nations have agreed on fiscal expansions of significant size. For economists, it is therefore important to ask how effective such supportive actions of governments are, and what kind of circumstances can create grounds for effective policies. Economic openness of countries is a determining factor in this respect, which is gaining more importance as globalization is accelerating. As a result of the crisis, and of the sovereign debt of several countries reaching dangerously high levels, financial markets and foreign exchange markets have shown severe reactions. Relative interest rate ratios between countries and exchange rates between national currencies have changed dramatically. These developments have even caused central banks to fundamentally change the paradigm of their policy, as it is the case for the Swiss National Bank.
Departement: School of Management and Law
Organisational Unit: Winterthur Institute of Health Economics (WIG)
Publication type: Doctoral thesis
ISBN: 978-3-86624-596-9
URI: https://digitalcollection.zhaw.ch/handle/11475/18029
Appears in Collections:Publikationen School of Management and Law

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