This book describes practical techniques to formulate multiannual macroeconomic projections for developing economies. The approach is broadly similar to that of well-known financial-programming “models”, but some of the material, including solution procedures for the external and fiscal projections and the external-debt projection methodology, is innovative. The basic aim of macroeconomic programming exercises is to determine whether a quantitatively specified macroeconomic and government-expenditure policy program would be “financially feasible” ― that is, consistent over time with external and internal financing likely to be available. Exercises of the kind described here formulate national-, external-, fiscal-, and monetary-accounts projections, based on (i) assumed behavioral parameters; (ii) assumed “exogenous” world conditions and internal variables; (iii) programmed macroeconomic objectives such as real growth, inflation, and exchange-rate evolution; (iv) programmed real government expenditure; (v) an external-debt program; and (vi) data for the “base” year preceding the projection period. The projections include estimates of the external and internal financing the public sector and economy as a whole would require, which may be evaluated for feasibility. Among other applications, macroeconomic programming exercises may be used to help gauge the financial feasibility of development and poverty-reduction objectives (like the UN Millennium Development Goals), or to address external-debt “sustainability”.
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Charlotte y Peter Fiell son dos autoridades en historia, teoría y crítica del diseño y han escrito más de sesenta libros sobre la materia, muchos de los cuales se han convertido en éxitos de ventas. También han impartido conferencias y cursos como profesores invitados, han comisariado exposiciones y asesorado a fabricantes, museos, salas de subastas y grandes coleccionistas privados de todo el mundo. Los Fiell han escrito numerosos libros para TASCHEN, entre los que se incluyen 1000 Chairs, Diseño del siglo XX, El diseño industrial de la A a la Z, Scandinavian Design y Diseño del siglo XXI.
This book describes practical techniques to formulate multiannual macroeconomic projections for developing economies. The approach is broadly similar to that of well-known financial-programming models , but some of the material, including solution procedures for the external and fiscal projections and the external-debt projection methodology, is innovative. The basic aim of macroeconomic programming exercises is to determine whether a quantitatively specified macroeconomic and government-expenditure policy program would be financially feasible that is, consistent over time with external and internal financing likely to be available. Exercises of the kind described here formulate national-, external-, fiscal-, and monetary-accounts projections, based on (i) assumed behavioral parameters; (ii) assumed exogenous world conditions and internal variables; (iii) programmed macroeconomic objectives such as real growth, inflation, and exchange-rate evolution; (iv) programmed real government expenditure; (v) an external-debt program; and (vi) data for the base year preceding the projection period. The projections include estimates of the external and internal financing the public sector and economy as a whole would require, which may be evaluated for feasibility. Among other applications, macroeconomic programming exercises may be used to help gauge the financial feasibility of development and poverty-reduction objectives (like the UN Millennium Development Goals), or to address external-debt sustainability .
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