Central Banking at a Time of Crisis and Beyond: A Practitioner’s Perspective

monetary policy, inflation targeting

Central bank perspectives on stabilization policy

For some time, the use of monetary and fiscal policies to smooth business cycle fluctuations has taken a back seat to longer term objectives of restoring price stability and fiscal balance. More recently, however, weaker economic performance in some of the world’s economies, most notably in Japan and the United States, has led to renewed interest in the use of short-run stabilization policy. ; This year the bank’s economic policy symposium, “Rethinking Stabilization Policy,” explored the potential scope for stabilization policy in this new environment. The papers presented at the symposium and the ensuing discussion focused on a number of key issues including: reasons for the renewed interest in stabilization policy, the effectiveness and limitations of stabilization policy, and whether the use of short-run stabilization policy conflicts with the pursuit of longer term macroeconomic objectives. ; The articles included in this special issue of the Economic Review provide perspectives on stabilization policy from five prominent central bank officials: Alan Greenspan, Otmar Issing, Guillermo Ortiz, Yukata Yamaguchi, and David Dodge. As these articles suggest, policymakers in different countries clearly share a common set of core values that guide policy. At the same time, monetary policy decisions must also be tailored to the unique circumstances of individual countries. Viewed individually, each of these presentations is highly interesting and informative. Taken together, they provide a broad perspective on the challenges facing policymakers in a changing economic environment.Monetary policy ; Fiscal policy

Chronic Healthcare Spending Disease: A Macro Diagnosis and Prognosis

The amount Canadians spend on healthcare is set to rise rapidly over the next two decades and Canadians need to face up to tough choices to deal with this “spending disease.” The study examines the trajectory of total healthcare spending – public and private – in Canada and the policy choices Canadians must make in response. The authors estimate the extent to which healthcare spending is going to absorb a greater fraction of income than Canadians have experienced to date under two scenarios: a baseline scenario drawn from historical experience, and an optimistic scenario, which assumes an unprecedented improvement in the efficiency and effectiveness of the healthcare system and large improvement in potential economic growth. Canadians must choose some combination of: 1) a sharp reduction in public services, other than health care; 2) increased taxes to finance the public share of healthcare spending; 3) increased individual spending on healthcare services currently insured by provinces, through some form of co-payment or through delisting of services that are currently publicly financed; 4) or a degradation of publicly insured healthcare standards – longer queues, and services of poorer quality.The Health Papers, healthcare spending, Canada

CL 553 United Methodist Polity and Discipline

1. To examine the development of United Methodist polity from a historical and theological perspective: a. To understand the implicit and explicit structural expressions of ecclesiology. b. To become familiar with the nature and implications of connectionalism and itinerancy for ministry. c. To understand the annual conference as the basic unit of The United Methodist Church. d. To study and understand the covenantal relationship between ministers (lay, diaconal and ordained) in The United Methodist Church. 2. To use the Discipline and the Book of Resolutions as working handbooks for mission and ministry. a. To understand the process by which leaders and selected. b. To gain a knowledge of the selection, deployment, evaluation and termination of clergy. c. To become familiar with the decision-making process at all levels of the church. d. To become aware of the required structure and alternative organization of the local church. e. To examine connectionalism in relationship to church property. f. To understand the judicial structures, the appeal and review process. g. To gain an awareness of the role and functioning of the general boards and agencies. h. To understand the role of caucuses and special groups. i. To perceive the nature of ecumenical relationships.https://place.asburyseminary.edu/syllabi/2159/thumbnail.jp

CL 553 United Methodist Polity and Discipline

REQUIRED TEXTS The Book of Discipline, 2004 United Methodist Publishing House The Book of Resolutions, 2004 United Methodist Publishing House Polity, Practice and Mission of The United Methodist Church, 2nd Edition, Thomas E. Frank, Abingdon, 2001https://place.asburyseminary.edu/syllabi/3871/thumbnail.jp

CL 553 United Methodist Polity and Discipline

REQUIRED TEXTS The Book of Discipline, 2004 United Methodist Publishing House The Book of Resolutions, 2004 United Methodist Publishing House Polity, Practice and Mission of The United Methodist Church, 2nd Edition, Thomas E. Frank, Abingdon, 2001https://place.asburyseminary.edu/syllabi/3871/thumbnail.jp

CL 553 United Methodist Policy and Discipline

The Book of Discipline, 2000 United Methodist Publishing House The Book of Resolutions, 2000 United Methodist Publishing House Polity, Practice and Mission of The United Methodist Church, Thomas E. Frank, Abingdon, 1997 The Organization of The United Methodist Church, 2002 Edition, Jack Tuell, Abingdon, 2002 Calling and Character: Virtues of the Ordained Life, Will Willimon, Abingdon, 2001https://place.asburyseminary.edu/syllabi/3159/thumbnail.jp

The Piggy Bank Index: Matching Canadians’ Savings Rates to Their Retirement Dreams

As Canada’s babyboom generation approaches retirement age, public concern about the adequacy of retirement income is mounting, note the authors. Most of the public debate has been about potential reform of the tax and fiduciary rules governing corporate pension plans, the possibility of expanding contributory public pension plans such as the CPP/QPP, about how much tax-deferred saving the Income Tax Act should allow, and for how long. To date, say the authors, there has been little focus on the fraction of annual earnings that must be saved by Canadians – either through employer plans, private saving, or expanded contributions to a public plan – to provide adequate and reasonably assured retirement incomes.Pension Papers, retirement income, Registered Retirement Savings (RRSPs), Canada Pension Plan (CPP/QPP), Income Tax Act

Employment Training — A Government Perspective

Federal involvement in employment training, from the establishment of the Royal Military College in 1884 to the legislation of the National Training Program in 1982, has been to ensure a qualified Canadian labour force. The evolving Canadian economy and the changing world of work have required a federal role varying from passive financing to direct training involvement. An examination of current and future demographic and employment trends, altered demand patterns, changing technology, new challenges of employment and unemployment, and a narrowing global community; in Federal reports and papers indicates that a com- prehensive, cooperative human resource strategy is essential to Canadian econo- mic health and international competitiveness.Aussi loin que l'on remonte, c'est-à-dire en 1884 lors de la fondation du Collège militaire royal, jusqu'à nos jours et à l'adoption de la Loi créant le Programme national de formation en 1982, le gouvernement fédéral a eu pour objectif d'assurer, de par sa participation à la formation professionnelle, la création d'une population active qualifiée. L'évolution de la conjoncture économique au pays et la transformation du monde du travail lui ont tour à tour demandé de s'en tenir à un rôle de financier passif ou, à l'autre extrême, d'intervenir directement dans le domaine. Les rapports et documents produits par l'administration fédérale ont examiné les tendances de l'emploi de la population, tant actuelles que futures, de la nouvelle physionomie de la demande, de l'évolution technologique, des défis que suscitent les problèmes liés au chômage et à l'emploi, et de l'univer-salisation de la société. Ils mettent en évidence la nécessité d'une stratégie globale et coopérative en matière de ressources humaines pour assurer la santé de l'éco-nomie canadienne et défendre la position concurrentielle du Canada sur les marchés internationaux

Coral of Opportunity Survivorship and the Use of Coral Nurseries in Coral Reef Restoration

Coral reef damage is unfortunately becoming a common occurrence off southeast Florida, U.S.A. Reattachment of the dislodged scleractinian corals usually initiates damage site restoration. Because mortality of dislodged colonies is typically high and natural recovery in southeast Florida is typically slow, transplantation of additional scleractinian corals into a damaged area has been used to accelerate reef recovery. Donor colonies available for transplantation have been grown in situ, grown in laboratories, and taken from nondamaged reef areas. An alternative source of donor colonies for transplantation into damaged sites is “corals of opportunity,” which we define as scleractinian corals that have been detached from the reef through natural processes or unknown events. This paper describes a project, initiated in 2001 in Broward County, Florida, that was developed to collect these dislodged colonies and transplant them to a coral nursery. Coral nurseries are interim locations that function as storage sites for corals of opportunity where they can be cached, stabilized, and allowed to grow, until needed as donor colonies for future restoration activities. This project is a partnership between a local university, county government, and a volunteer dive group. Two hundred and fifty corals of opportunity were collected, transplanted to the coral nurseries, and monitored for survival. Transplanted colony survival was similar to that of naturally attached control colonies and significantly greater than that of corals of opportunity left unattached. Results provide resource managers with information on the utility of using corals of opportunity as a source of transplant donor colonies, and the value of using coral nurseries to create a reserve of corals of opportunity for use in future coral reef restoration activities