macroeconomic policy


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macroeconomic policy

the setting of broad objectives by the government for the economy as a whole and the use of policy instruments to achieve those objectives. Macroeconomic objectives include FULL EMPLOYMENT, the avoidance of INFLATION, ECONOMIC GROWTH and BALANCEOF-PAYMENTS EQUILIBRIUM. FISCAL POLICY, MONETARY POLICY and SUPPLY-SIDE POLICIES are the main policy instruments used to regulate the economy.

Generally, the achievement of a broad objective, such as avoiding inflation, involves the setting of‘intermediate targets’, like, for example, the permissible rate of growth of the MONEY SUPPLY. See alsoDEMAND MANAGEMENT, PRICES AND INCOMES POLICY, INTERNAL-EXTERNAL BALANCE MODEL, FIXED TARGETS, OPTIMIZING, BUSINESS CYCLE, EQUILIBRIUM LEVEL OF NATIONAL INCOME, DEFLATIONARY GAP, INFLATIONARY GAP, MEDIUM-TERM FINANCIAL STRATEGY, ECONOMIC POLICY, MICROECONOMIC POLICY, NEW AND OLD PARADIGM ECONOMICS.

References in periodicals archive ?
The researchers find that countries with more macroeconomic policy space tend to use whatever policy instruments they have available much more aggressively in response to a crisis than countries with less space.
in the 2014-2015 academic year, the five papers in this volume examine macroeconomic policy challenges in the Great Recession.
In his opening statement at the meeting of the ECOWAS Technical Committee on Macroeconomic Policy held in Bamako, Mali on 11 September 2017, Mr Traor highlighted the adoption of a roadmap, designation of Heads of State to supervise the process and setting up of a Task Force to advise the Heads of States.
BEIJING, Ramadan 01, 1437, June 06, 2016, SPA -- China and the United States will further enhance macroeconomic policy coordination, China finance minister Lou Jiwei said on Monday, according to Reuters.
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Reforms to the macroeconomic policy framework can help strengthen macroeconomic management and create an environment conducive to private investment and job creation.
The project's overarching objective is to build and enhance transparency, accountability and efficiency in the use of public resources, macroeconomic policy and debt management through institutional strengthening and capacity building.
An important factor in US GDP growth for the last couple of years has been the stance of macroeconomic policy.
Amid uncertain external and domestic environments, keeping monetary conditions under control following the devaluation, strengthening the macroeconomic policy architecture, and accelerating structural and financial reforms are critical to mitigating shocks and achieving medium-term objectives, the National Bank of Kazakhstan reported.
The present government has not yet focused on improving the macroeconomic policy framework and has been spending resources at micro levels.
IMF director further said that it is of principal consideration of the IMF to have a sound macroeconomic policy and framework and deep structural reforms to boost growth potential over time which will help the Pakistani people.