¶ … macroeconomic policy measures introduced by the UK authorities in response to the global credit crisis and associated UK recession
Macro-economic policy measures
This essay is based on two scenarios of financial crisis that occurred consecutively in the United Kingdom and other parts of the World. The recent economic recession started in 2007 up to 2010 while the credit crunch was experienced in 2002 up to 2004. In both of the financial crisis what were witnessed were reduced employment levels, collapse of major sectors of the economy mostly the financial sector, high prices of goods and services brought about by high inflation rates, low economic productivity and a deficit in the balance of payment coupled with a general decline in the country's gross domestic product.
According to Dale, Proudman and Westaway (2010) the causes of the recent economic depression and the earlier credit crunch are more or less similar to one another. As in both crises regulatory laxity was first to be blamed, followed by other factors such a rational market behavior and the poor financial performance of the housing industry, among others.
Abstract
The essay intends to analyze the mechanisms and briefly evaluate the effectiveness of the macroeconomic policy measures introduced by the UK authorities in response to the global credit crisis and associated UK recession.
To start with the study will identify some of the policy measures that were used to address both the credit crunch crisis and the subsequent recession. Secondly in the literature section the study will highlight on impact these measure should have had and thirdly in the evaluation section, the effectiveness of these measures will be evaluated before the essay comes to a conclusion.
Policy measures
Buiter (2010) noted in his publication in the oxford review of economic policy, that during both the credit crunch crisis and the recent economic recession witnessed in most parts of the world, the United Kingdom government introduced a number of macroeconomic policies measures that were categorized into three groups, namely the fiscal policy measures, monetary policy measures and supply side policy measures, all of which were meant to control the crisis and lead to economic recovery.
In the two scenarios it would have been inappropriate to consider the re-evaluation of the macro economic policies, because according to Dooley and Garber (2009) the credit crisis and the economic downturn that was experienced World wide was largely contributed by laxity in these financial regulations. Consequently, UK authorities opted for an expansionary fiscal policy because monetary policies that were in place only promised higher inflation rates in the future, in addition they also opted for the development of new and more effective monetary policy measures.
Through the fiscal monetary expansion the government increased its' spending in a bid recover from both crisis and also increase the economic output, demand for goods and services and the employment levels. Important to note is that in the early phases the government introduced precautionary measures due to fiscal implementation uncertainty and lags. According to Chung, Davig and Leeper (2007) the overall objective of the government in introducing the stimulus plan concurrently with the expansionary fiscal policies...
Looking at the variability of each group is important because it gives the decision-maker an indication of how wide is the spread of scores of each worker in the group. That is, through measures of variability, the decision-maker is informed of just how varied the manual dexterity scores of the workers are, since it would be most efficient for him/her to have workers who at least have the same levels/scores
Measure You Get What You Measure The phrase "you get what you pay for" is pretty easy to understand, but "you get what you measure" is a little more difficult -- measuring doesn't actually procure or "get" anything other than a measurement, and of course you get the measurement that you take -- that's self-evident, right? In the business world, though, people often seem to think that they can get whatever results
Measure Target Action Maintain Starbucks "Ethos" It is difficult to directly measure consumer sentiment. However, dissatisfied customers provided needed feedback as to problems in the overall objective. Consumers, Vendors Take drastic action to address consumers' issues in a timely manner. This may include free samples or refunds but should be as comprehensive as possible to address a wide range of complaints Ethical Treatment of Internal Employees Starbucks can gauge its treatment of its employees from industry standards and
GPA is interval level data one can report all measures of central tendency and dispersion (Creswell, 2012). In the original data case 38 had a GPA reported as 9.00. This value is of course impossible and since there were no missing values defined in the data set this case was treated as missing data. If used as reported it would have resulted in a much larger standard deviation and
measure situations of reality (Piquero, 2002). A dependent variable and an independent variable are studied for patterns of relation, covariance, and cause and effect. For example, the relationship between impulsivity, the independent variable, and criminal behavior, the dependent variable, or the effects of a mandatory arrest policy, the independent variable, on future patterns of domestic violence, the dependent variable, are both examples of quantitative research. For causality, three criteria
Measure Value Vice Versa." - Joseph Stiglitz. Having started module question:" What purpose business? "You finish assignment links question individual level. IMPORTANT*** PLEASE ONLY USE THE READINGS / TEXT / MATERIAL FROM THE ATTACHED FILE COURSE READINGS AND TEXT. The Importance of Values on Decision Making The following pages focus on providing an analysis of the application of ethical in several types of activity. The Introduction presents the points-of-view used in
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now