Budget deficits and money creation: Exploring their relation before Bretton Woods

62 india and Bretton Woods ii

The G-20 meeting in Washington on 15 November is an opportunity for India to help shape the new global economic architecture in line with its strategic interests. India should propose short-term crisis response actions and suggest a clear medium-term agenda. On the former, India needs to support globally coordinated actions to help limit the economic downturn, including a political commitment b...

Voting power in the Bretton Woods institutions

The Bretton Woods institutions have systems of governance based on weighted voting. Each member possesses a number of votes which depends on its quota allocation and which must be cast as a bloc. This leads to a problem of democratic legitimacy since a member's influence or voting power within such decision making systems does not in general correspond to its voting weight. This paper uses voti...

Bretton Woods Institution Narratives about Inequality and Economic Vulnerability on the Eve of South African Austerity.

In South Africa, at a time when National Health Insurance should be generously funded (7 years after its approval as public policy by the ruling party), state fiscal austerity appears certain to nip the initiative in the bud. The World Bank and the International Monetary Fund issued separate reports about South Africa in late 2014, following a new finance minister's mid-term budget speech. In j...

Modeling the relationship between budget deficits, money supply and inflation in Fiji

Pacific Economic Bulletin Volume 21 Number 2 2006 © Asia Pacific Press For Fiji, which has been suffering persistent deficits since independence, determining the relationships between inflation, budget deficits, money supply, output, and import prices is essential. We find that inflation, deficits and money supply are cointegrated when inflation is the endogenous variable, and the long-run elas...

Optimal Budget Deficits