It is in much better shape to withstand the blow, thanks to prudent macroeconomic policy.
The need to execute skillful monetary and macroeconomic policy will be key, both reports claim.
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Macroeconomic policy in South Africa is better now than it has been in living memory.
Taken together, the Fund's overhaul and the G20's expanded powers mark an important shift in international macroeconomic policy.
The Czechs could at a pinch turn to quantitative easing, but elsewhere the macroeconomic policy locker looks bare.
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Thus the more the economy needs looser macroeconomic policy, the more scope the authorities will have to provide it.
"Tarrin doesn't look at macroeconomic policy, " says Surakiart Sathirathai, a leading economic adviser to the Thai Rak Thai Party.
The score on macroeconomic policy is roughly level-pegging: Labour has succeeded in neutralising macro management as an election issue.
ECB's insistence that macroeconomic policy cannot affect joblessness could produce higher structural unemployment.
Some people even fear that flows of dirty money may have become so big that they can distort macroeconomic policy.
It is the best way to ensure that problems in macroeconomic policy or within the financial sector are quickly identified.
But until labour markets are freed, tight macroeconomic policy is one of those shocks that can only make things worse.
Much the same goes for financial regulation, public spending and macroeconomic policy.
Thatcher's macroeconomic policy was front and centre of the debate when she was in office - at least in the first few years.
In other words, on the biggest macroeconomic policy question of the day Britain is not part of Europe, it is looking on from outside.
Whereas the IMF has steered only Turkey's macroeconomic policy, the EU has been the catalyst for an entire programme of social and economic reforms.
Thus macroeconomic policy was previously broadly liberal, energy policy dirigiste, social policy welfarist, nationality policy inclusive but with an ethnic Russian face, and foreign policy statist.
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What really turns him on, apart from macroeconomic policy, are welfare and labour-market issues such as reducing child poverty and getting unemployed people back to work.
Evaluating the impact of countercyclical macroeconomic policy is inherently difficult because we do not observe what would have happened to the economy in the absence of policy.
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Like so much of macroeconomic policy, that has the potential to trigger currency and trade wars that very soon get us back to the doorstep of financial collapse.
Macroeconomic policy, he argues, is not just about controlling inflation.
So, there is at least one way in which short-term decisions on macroeconomic policy by the Bank of England and the chancellor could be important for the long-term as well.
In contrast, many conservatives seem to have macroeconomic policy views that seem like common sense but are hard to square with empirical reality or assemble into a coherent economic model.
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"Chancellor Merkel's coalition government has made an important contribution to the economic upswing by introducing investment programmes for energy-saving technologies, and measures to encourage small business investment, " said Gustav Horn, director of the Macroeconomic Policy Institute.
At the country level, the meeting noted that the development of African LDCs had continued to be constrained by shortcomings in physical infrastructure and human resources development, low levels of domestic resource mobilization, shortcomings in macroeconomic policy design and management, and severe socio-economic consequences of local or regional conflicts.
Or is it that macroeconomic policy has not allowed the creation of enough jobs for all, especially at the bottom of the ladder, leading to middle class anxiety which, combined with signaling effects, licensing regulation and what might be termed the Knowledge Economy Ideology, has created a credential arms race?
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We also need to have better macroeconomic policy that ensures full employment so that wages are high for everyone, and we need to reemphasize the trades and other mid-skill service jobs, and decredentialize, delicence, our economy, so that there are many things you can do without a piece of paper.
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For the moment, though, monetary policy is causing less controversy than the other macroeconomic lever, fiscal policy.
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