The traditional role of the central bank appears to be evolving in modern macroeconomics. Monetary policy from the central bank was once responsible for acting as a counterbalance to fiscal policy to aid the government to achieve its objectives.
The Bank of Jamaica (BOJ) continues with the Inflation Targeting strategy, let us explore why, as well as the advantages and disadvantages of doing so.
Elements Of Inflation Targeting
According to Mishkin (2001) in order for the strategy of inflation targeting to be effective it must contain the following key elements:
What Is The Value Of The Jamaican Dollar Relative To The US?
The Jamaican dollar has depreciated to more than $130 to US$1 again. The price of the US dollar rose to an all-time high, selling for an average price of $132 to US$1 and has remained above $131 mark.
WHAT ARE THE ECONOMIC GROWTH PROJECTIONS?
ECON 3030 is a NEW final year elective which will expose students in their final year to specially chosen topics in economics. ECON 3030 will be offered in SEMESTER II (AY 2019/2010).
Last week, the prime minister gave his contribution to the Budget Debate for the 2018-2019 fiscal year. Mr. Holness declared that he had brought his family to Parliament, which
The budget Debate continues and Dr. Peter Phillips, leader of the Opposition People's National Party, delivered his budget rebuttal, titled Empowering the People restoring Hope.
Where Was Phillips' Main Focus?
NO NEW TAXES
For the first time ever, to the best of my knowledge, the Government has tabled a Budget without implementing new tax revenue measures. Traditionally, we take it as a norm for the government to add a new tax category or increase the tax on an existing source to help generate revenue, given the country's limited fiscal space.
WHAT IS THE MEDIUM TERM DEBT STRATEGY?
Jamaica's pursuits to increase its per annum economic growth rate is somewhat dependent on the country's ability to maintain macroeconomic stability and measures in place to effectively monitor and manage its public debt.
An estimated $773 billion is expected to be spent by the Government during the next fiscal year (FY) as the items of expenditure for the 2018-2019 Budget has been tabled by the Ministry of Finance and the Public Service. The projected expenditure for the 2018-2019 FY is $31 billion less than the $805.5 million spent last year.
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