Fiscal Policy In A Turbulent Era

Recognising the regained importance of fiscal policy over the last two decades, this timely book provides much-needed insight into the manifold changes and challenges of fiscal policy and how it is adapting to the unpredictable nature of the 21st century. Fiscal Policy in a Turbulent Era brings together esteemed experts who offer detailed analyses on how the turbulence of the last 20 years has caused a tectonic shift in economic thinking. Chapters consider the resources which underpin current fiscal policy, assessing its overall effectiveness before outlining the changing priorities due to ageing, inequality and the green transition, the financial tools available, and the future of fiscal policy in uncertain times. Incisive and thorough, this book acknowledges that although fiscal policy has become more relevant and effective, it now faces far greater risks against the backdrop of increasing debt, rising demands and higher interest rates. This highly prescient book will be a crucial read for students, academics and researchers studying public finance, public sector economics, political science, banking and finance, and public policy. Offering in-depth accessible analyses, Fiscal Policy in a Turbulent Era will also prove beneficial for practitioners and policymakers working in finance ministries, central banks and other areas associated with fiscal policy.

Recognising the regained importance of fiscal policy over the last two decades, this timely book provides much-needed insight into the changing practice of fiscal policy and how it is adapting to the unpredictable nature of the 21st century. Expert academic and practitioner contributors consider the resources which underpin current fiscal policy, assessing its overall effectiveness before outlining the changing priorities –ageing, inequality, climate change- and the financial tools available, and considering the future of fiscal policy in uncertain times.

This insightful book provides a systematic analysis of the development of affluent Western welfare states in this turbulent era. It explores the consequences for welfare states of modern crises such as climate change, the COVID-19 pandemic, and the war in Ukraine. Most importantly, it investigates how to prioritize scarce resources in the face of many competing demands and argues that there is an urgent need to improve crisis funding whilst at the same time maintaining provision for vulnerable groups. This title contains one or more Open Access chapters.

Two main themes of the book are that (1) politics can distort optimal fiscal policy through elections and through political fragmentation, and (2) rules and institutions can attenuate the negative effects of this dynamic. The book has three parts: part 1 (9 chapters) outlines the problems; part 2 (6 chapters) outlines how institutions and fiscal rules can offer solutions; and part 3 (4 chapters) discusses how multilevel governance frameworks can help.

How can we interpret and respond to the rise of populist regimes that infringe on human rights? This incisive book analyses illiberal, repressive, and patriarchal logics of rule, identifying critical catalysts in the meteoric growth of populist agendas. Contributors scrutinise the records of authoritarian and nationalist leaders in Brazil, Hungary, India, Mexico, the Philippines, Poland, Turkey and the United States.

This incisive book examines how the values of social justice can be protected against attacks from the interacting economic, social, environmental, and health crises of the 21st century. Global contributors outline key elements of a political programme that resists the shift to the right caused by this turbulence through centring fairness, equality, respect and inclusion.

Offering a practical and phenomenon-driven perspective, Strategy in a Turbulent Era expertly analyses questions relating to strategy in light of different forms of turbulence. From the global COVID-19 pandemic outbreak to the escalation in number and far reaching implications of new technologies, such as artificial intelligence and cryptocurrencies, this timely book explores how recent sources of turbulence are rapidly transforming the nature and dynamics of global competition.

This is an open access title available under the terms of a CC BY-NC-ND 4.0 License. It is free to read, download and share on Elgaronline.com. This thoughtful book provides a refreshing, comparative perspective on the future of care homes in our post-pandemic world. Building on more than a decade of collaborative international and interdisciplinary research in Canada, Germany, Norway, Sweden, the UK and the US, it employs a feminist political economy framework to address the key challenges facing care homes in this turbulent era.

Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.

This book rethinks economic theory and calls for a creative and pragmatic approach to policymaking. It examines what development and sustenance of economic progress mean, and how these may be facilitated. The relevance of this issue has received fresh impetus from the significant changes in the degree and pattern of international economic relations that are unfolding across the world, posing both opportunities and challenges. While globalisation of goods and financial markets may have delivered high growth for some nations, the distribution of the benefits has often been highly unequal, with gains to owners of capital and skills being disproportionately higher compared to that of labour, especially the unskilled. Widening and persistent inequalities have been at the heart of rising polarisation and spread of conflicts that threaten the social fabric. This work emphasises the relevance of a broad policy framework based on building individual capabilities and in line with a human-centric perspective. At the same time, it points out the crucial need to create policy space for macroeconomic stability and to accommodate heterodox influences, especially when conventional wisdom proves inadequate, as starkly demonstrated inter alia during the recent global financial crisis. This festschrift, dedicated to Deepak Nayyar, presents chapters on diverse themes that address the persisting global problems of poverty, inequality and sustaining development. The book will be of great interest to scholars and researchers of economics, development studies, public policy and governance, and also to policymakers, government officials and those in media.