Multipliers

Author by : Liz Wiseman
Languange : en
Publisher by : Harper Collins
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Description : Wall Street Journal Bestseller A thought-provoking, accessible, and essential exploration of why some leaders (“Diminishers”) drain capability and intelligence from their teams, while others (“Multipliers”) amplify it to produce better results. Including a foreword by Stephen R. Covey, as well the five key disciplines that turn smart leaders into genius makers, Multipliers is a must-read for everyone from first-time managers to world leaders.


Multipliers Revised And Updated

Author by : Liz Wiseman
Languange : en
Publisher by : HarperCollins
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Description : A revised and updated edition of the acclaimed Wall Street Journal bestseller that explores why some leaders drain capability and intelligence from their teams while others amplify it to produce better results. We’ve all had experience with two dramatically different types of leaders. The first type drains intelligence, energy, and capability from the people around them and always needs to be the smartest person in the room. These are the idea killers, the energy sappers, the diminishers of talent and commitment. On the other side of the spectrum are leaders who use their intelligence to amplify the smarts and capabilities of the people around them. When these leaders walk into a room, light bulbs go off over people’s heads; ideas flow and problems get solved. These are the leaders who inspire employees to stretch themselves to deliver results that surpass expectations. These are the Multipliers. And the world needs more of them, especially now when leaders are expected to do more with less. In this engaging and highly practical book, leadership expert Liz Wiseman explores these two leadership styles, persuasively showing how Multipliers can have a resoundingly positive and profitable effect on organizations—getting more done with fewer resources, developing and attracting talent, and cultivating new ideas and energy to drive organizational change and innovation. In analyzing data from more than 150 leaders, Wiseman has identified five disciplines that distinguish Multipliers from Diminishers. These five disciplines are not based on innate talent; indeed, they are skills and practices that everyone can learn to use—even lifelong and recalcitrant Diminishers. Lively, real-world case studies and practical tips and techniques bring to life each of these principles, showing you how to become a Multiplier too, whether you are a new or an experienced manager. This revered classic has been updated with new examples of Multipliers, as well as two new chapters one on accidental Diminishers, and one on how to deal with Diminishers. Just imagine what you could accomplish if you could harness all the energy and intelligence around you. Multipliers will show you how.


Theory Of Sobolev Multipliers

Author by : Vladimir Maz'ya
Languange : en
Publisher by : Springer Science & Business Media
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Description : The first part of this book offers a comprehensive overview of the theory of pointwise multipliers acting in pairs of spaces of differentiable functions. The second part of the book explores several applications of this theory.


The Multiplier Effect

Author by : Liz Wiseman
Languange : en
Publisher by : Corwin Press
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Description : When you become a Multiplier, your whole team succeeds! Why do some leaders double their team’s effectiveness, while others seem to drain the energy right out of the room? Using insights gained from more than 100 interviews with school leaders, this book pinpoints the five disciplines that define how Multipliers bring out the best across their schools. By practicing these disciplines, you’ll learn how to: Attract top teachers to your school Create an intense environment that demands people’s best thinking Drive sound decisions by constructing debate and decision-making forums Give your team a sense of ownership for responsibilities and results


Local Multipliers Of C Algebras

Author by : Pere Ara
Languange : en
Publisher by : Springer Science & Business Media
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Description : Many problems in operator theory lead to the consideration ofoperator equa tions, either directly or via some reformulation. More often than not, how ever, the underlying space is too 'small' to contain solutions of these equa tions and thus it has to be 'enlarged' in some way. The Berberian-Quigley enlargement of a Banach space, which allows one to convert approximate into genuine eigenvectors, serves as a classical example. In the theory of operator algebras, a C*-algebra A that turns out to be small in this sense tradition ally is enlarged to its (universal) enveloping von Neumann algebra A". This works well since von Neumann algebras are in many respects richer and, from the Banach space point of view, A" is nothing other than the second dual space of A. Among the numerous fruitful applications of this principle is the well-known Kadison-Sakai theorem ensuring that every derivation 8 on a C*-algebra A becomes inner in A", though 8 may not be inner in A. The transition from A to A" however is not an algebraic one (and cannot be since it is well known that the property of being a von Neumann algebra cannot be described purely algebraically). Hence, ifthe C*-algebra A is small in an algebraic sense, say simple, it may be inappropriate to move on to A". In such a situation, A is typically enlarged by its multiplier algebra M(A).


Fiscal Multipliers

Author by : Nicoletta Batini
Languange : en
Publisher by : International Monetary Fund
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Total Read : 98
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Description : Fiscal multipliers are important tools for macroeconomic projections and policy design. In many countries, little is known about the size of multipliers, as data availability limits the scope for empirical research. This note provides general guidance on the definition, measurement, and use of fiscal multipliers. It reviews the literature related to their size, persistence and determinants. For countries where no reliable estimate is available, the note proposes a simple method to come up with reasonable values. Finally, the note presents options to incorporate multipliers in macroeconomic forecasts.


Design Of Analog Multipliers With Operational Amplifiers

Author by : K.C. Selvam
Languange : en
Publisher by : CRC Press
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Description : Design of analog multipliers discusses what an analog multiplier and its related types is, how different types of analog multipliers are implemented with analog two to one multiplexers and op-amps, and how the types of analog multipliers are implemented with transistors and op-amps. Describing forty-eight analog multiplier circuits, book explains six building blocks as integrator, comparator, switch, low pass filter, peak detector and sample & hold circuit. All analog multiplier circuits presented in this book use a maximum of four operational amplifiers which will enable the readers to simulate the multipliers with minimum number of components and use for their application at low cost.


Regional Multipliers

Author by : Richard M. Beemiller
Languange : en
Publisher by :
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Description :


Regional Multipliers

Author by :
Languange : en
Publisher by :
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Total Read : 36
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Description :


Fiscal Policy Multipliers In Small States

Author by : Ali Alichi
Languange : en
Publisher by : International Monetary Fund
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Total Read : 21
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Description : Government debt in many small states has risen beyond sustainable levels and some governments are considering fiscal consolidation. This paper estimates fiscal policy multipliers for small states using two distinct models: an empirical forecast error model with data from 23 small states across the world; and a Dynamic Stochastic General Equilibrium (DSGE) model calibrated to a hypothetical small state’s economy. The results suggest that fiscal policy using government current primary spending is ineffective, but using government investment is very potent in small states in affecting the level of their GDP over the medium term. These results are robust to different model specifications and characteristics of small states. Inability to affect GDP using current primary spending could be frustrating for policymakers when an expansionary policy is needed, but encouraging at the current juncture when many governments are considering fiscal consolidation. For the short term, however, multipliers for government current primary spending are larger and affected by imports as share of GDP, level of government debt, and position of the economy in the business cycle, among other factors.


Fiscal Multipliers In Ukraine

Author by : Ms.Pritha Mitra
Languange : en
Publisher by : International Monetary Fund
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Total Read : 23
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Description : Amid renewed crisis, falling tax revenues, and rising debt, Ukraine faces serious fiscal consolidation needs. Durable fiscal adjustment can support economic confidence and rebuild buffers but what is its overall impact on growth? How effective are revenue versus spending instruments? Does current or capital spending have a larger impact? Applying a structural vector autoregressive model, this paper finds that Ukraine’s near-term revenue and spending multipliers are well below one. In the medium-term, the revenue multiplier becomes insignificant (with a wide confidence interval) and the spending multiplier strengthens. Capital and current spending have a similar effect on growth but the capital multiplier remains significant for longer. These results suggest near-term consolidation based on a combination of revenue and spending measures would have a modest impact on growth. At the same time, medium-term policies could minimize the adverse consequences of consolidation on growth by offsetting some current spending cuts with increased capital spending. Given the severe challenges facing the Ukrainian economy, it is important that policymakers apply these results in conjunction with broader considerations such as public debt sustainability, investor confidence, credibility of government policies, and public spending efficiency. Consequently, it may be necessary to rely more on current spending cuts over other types of consolidation measures even though multiplier estimates suggest a more diverse combination of measures.


Growth Forecast Errors And Fiscal Multipliers

Author by : Mr.Olivier J. Blanchard
Languange : en
Publisher by : International Monetary Fund
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Description : This paper investigates the relation between growth forecast errors and planned fiscal consolidation during the crisis. We find that, in advanced economies, stronger planned fiscal consolidation has been associated with lower growth than expected, with the relation being particularly strong, both statistically and economically, early in the crisis. A natural interpretation is that fiscal multipliers were substantially higher than implicitly assumed by forecasters. The weaker relation in more recent years may reflect in part learning by forecasters and in part smaller multipliers than in the early years of the crisis.


A Simple Method To Compute Fiscal Multipliers

Author by : Nicoletta Batini
Languange : en
Publisher by : International Monetary Fund
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Total Read : 52
Total Download : 233
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Description : Fiscal multipliers are important tools for macroeconomic projections and policy design. In many countries, little is known about the size of multipliers, as data availability limits the scope for empirical research. For these countries, we propose a simple method—dubbed the “bucket approach”—to come up with reasonable multiplier estimates. The approach bunches countries into groups (or “buckets”) with similar multiplier values, based on their characteristics. It also takes into account the effect of some temporary factors, such as the state of the business cycle.


Fiscal Multipliers And The State Of The Economy

Author by : Ms.Anja Baum
Languange : en
Publisher by : International Monetary Fund
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Description : Only a few empirical studies have analyzed the relationship between fiscal multipliers and the underlying state of the economy. This paper investigates this link on a country-by-country basis for the G7 economies (excluding Italy). Our results show that fiscal multipliers differ across countries, calling for a tailored use of fiscal policy. Moreover, the position in the business cycle affects the impact of fiscal policy on output: on average, government spending, and revenue multipliers tend to be larger in downturns than in expansions. This asymmetry has implications for the choice between an upfront fiscal adjustment versus a more gradual approach.


Taylor Coefficients And Coefficient Multipliers Of Hardy And Bergman Type Spaces

Author by : Miroljub Jevtić
Languange : en
Publisher by : Springer
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Description : This book provides a systematic overview of the theory of Taylor coefficients of functions in some classical spaces of analytic functions and especially of the coefficient multipliers between spaces of Hardy type. Offering a comprehensive reference guide to the subject, it is the first of its kind in this area. After several introductory chapters covering the basic material, a large variety of results obtained over the past 80 years, including the most recent ones, are treated in detail. Several chapters end with discussions of practical applications and related topics that graduate students and experts in other subjects may find useful for their own purposes. Thus, a further aim of the book is to communicate to non-specialists some concrete facts that may be of value in their own work. The book can also be used as a textbook or a supplementary reference for an advanced graduate course. It is primarily intended for specialists in complex and functional analysis, graduate students, and experts in other related fields.


Fiscal Multipliers For Brazil

Author by : Mr.Troy Matheson
Languange : en
Publisher by : International Monetary Fund
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Description : We find historical fiscal multipliers for Brazil around 0.5, larger than what existing literature typically identifies for the average emerging market. However, spending and public credit multipliers seem to have dropped to near zero since the global financial crisis, as the estimate for the whole sample period (1999-2014) is about 1⁄2 of that for precrisis years. By contrast, revenue multipliers have remained broadly stable. We conclude that fiscal consolidations based on expenditure and public credit retrenchment are likely to entail a modest drag on growth in the near term.


Fiscal Multipliers In Bulgaria

Author by : Mr.Dirk Muir
Languange : en
Publisher by : International Monetary Fund
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Total Read : 17
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Description : With fiscal adjustment proceeding quickly in Bulgaria and given the weak economic growth environment, there is keen interest in making the budget composition more growth friendly. This paper quantifies the short-term impact of fiscal policy on economic activity in Bulgaria using econometric and model-based approaches. While fiscal multipliers have been modest in the past, as can be expected in a small open emerging economy, the effect on output is not independent of the speed of adjustment and the specific consolidation measures used. The impact of fiscal policy on economic activity is larger in downturns than in expansions and capital spending and direct taxes are associated with the largest effects on output, while non-targeted government transfers and indirect taxes are associated with a smaller impact. The results suggest that increased capital spending financed by higher indirect tax revenue collections through base broadening has sizeable growth effects over the medium and long-term.


Empirical Estimation Of Fiscal Multipliers In Mena Oil Exporting Countries With An Application To Algeria

Author by : Maria Elkhdari
Languange : en
Publisher by : International Monetary Fund
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Description : At a time when Algeria must undertake considerable fiscal consolidation to restore sustainability, the issue of fiscal multipliers has come to the fore. This paper estimates short-term and long-term fiscal multipliers for Algeria applying several econometric methodologies, including Local Projection Methodology and Vector Autoregressive Models, and using both Algeria-specific and panel data. The paper also explores asymmetries related to the sign of the output gap as well as the direction of spending. The results suggest that (i) average fiscal multipliers for Algeria are generally moderate and below unity; (ii) the impact of public spending shocks is more important when the output gap is negative; (iii) fiscal spending multipliers are significantly larger during spending contraction than expansion; (iv) procyclicality in public spending does not appear to affect output, except for capital spending cuts when the output gap is negative; and (v) while multipliers associated with countercyclical public spending can be sizeable, a contraction in current spending does not materially affect non-oil GDP.


An Introduction To The Theory Of Multipliers

Author by : Ronald Larsen
Languange : en
Publisher by : Springer Science & Business Media
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Description : When I first considered writing a book about multipliers, it was my intention to produce a moderate sized monograph which covered the theory as a whole and which would be accessible and readable to anyone with a basic knowledge of functional and harmonic analysis. I soon realized, however, that such a goal could not be attained. This realization is apparent in the preface to the preliminary version of the present work which was published in the Springer Lecture Notes in Mathematics, Volume 105, and is even more acute now, after the revision, expansion and emendation of that manuscript needed to produce the present volume. Consequently, as before, the treatment given in the following pages is eclectric rather than definitive. The choice and presentation of the topics is certainly not unique, and reflects both my personal preferences and inadequacies, as well as the necessity of restricting the book to a reasonable size. Throughout I have given special emphasis to the func tional analytic aspects of the characterization problem for multipliers, and have, generally, only presented the commutative version of the theory. I have also, hopefully, provided too many details for the reader rather than too few.


Credit And Fiscal Multipliers In China

Author by : Sophia Chen
Languange : en
Publisher by : International Monetary Fund
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Description : We jointly estimate credit and fiscal multipliers in China. We use the tenure of the provincial party secretary, interacted with the type of stimulus used in other provinces, to obtain separate instruments for provincial credit and government expenditure. We estimate a fiscal multiplier of 0.8 and a credit multiplier of 0.2 in 2001-2015. The multipliers have changed over time. The fiscal multiplier has increased from 0.75 in 2001-2008 to 1.4 in 2010-2015. The credit multiplier has declined from 0.17 to zero over the same periods. Our results suggest that reducing credit growth in China is unlikely to disrupt output growth, whereas fiscal policy may be effective in supporting macroeconomic adjustment.


Fiscal Multipliers In The Eccu

Author by : Mr.Jesus Gonzalez-Garcia
Languange : en
Publisher by : International Monetary Fund
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Description : The multipliers of taxes, and government consumption and investment expenditure for the Eastern Caribbean Currency Union (ECCU) are estimated using vector autoregression models with panel data. The impact and long-run multipliers are below unity, suggesting that a great extent of the intended impulse ends up expanding imported demand. The long-run multipliers of taxes and consumption expenditure are non-different from zero statistically, while public investment has a long-run multiplier of 0.6. The results suggest that countercyclical policies to stimulate growth should focus on public investment.


How Strong Are Fiscal Multipliers In The Gcc

Author by : Mr.Raphael A. Espinoza
Languange : en
Publisher by : International Monetary Fund
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Description : The effectiveness of fiscal policy in smoothing the impact of shocks depends critically on the size of fiscal multipliers. This is particularly relevant for the GCC countries given the need for fiscal policy to cushion the economy from large terms of trade shocks in the absence of an independent monetary policy and where fiscal multipliers could be weak dues to substantial leakages through remittances and imports. The paper provides estimates of the size of fiscal multipliers using a variety of models. The focus is on government spending since tax revenues are small. The long-run multiplier estimates vary in the 0.3-0.7 range for current expenditure and 0.6-1.1 for capital spending, depending on the particular specification and estimation method chosen. These estimates fall within the range of fiscal multiplier estimates in the literature for non-oil emerging markets.


Fredholm And Local Spectral Theory With Applications To Multipliers

Author by : Pietro Aiena
Languange : en
Publisher by : Springer Science & Business Media
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Description : A signi?cant sector of the development of spectral theory outside the classical area of Hilbert space may be found amongst at multipliers de?ned on a complex commutative Banach algebra A. Although the general theory of multipliers for abstract Banach algebras has been widely investigated by several authors, it is surprising how rarely various aspects of the spectral theory, for instance Fredholm theory and Riesz theory, of these important classes of operators have been studied. This scarce consideration is even more surprising when one observes that the various aspects of spectral t- ory mentioned above are quite similar to those of a normal operator de?ned on a complex Hilbert space. In the last ten years the knowledge of the spectral properties of multip- ers of Banach algebras has increased considerably, thanks to the researches undertaken by many people working in local spectral theory and Fredholm theory. This research activity recently culminated with the publication of the book of Laursen and Neumann [214], which collects almost every thing that is known about the spectral theory of multipliers.


Estimating Fiscal Multipliers With Correlated Heterogeneity

Author by : Emmanouil Kitsios
Languange : en
Publisher by : International Monetary Fund
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Description : We estimate the average fiscal multiplier, allowing multipliers to be heterogeneous across countries or over time and correlated with the size of government spending. We demonstrate that this form of nonseparable unobserved heterogeneity is empirically relevant and address it by estimating a correlated random coefficient model. Using a panel dataset of 127 countries over the period 1994-2011, we show that not accounting for omitted heterogeneity produces a significant downward bias in conventional multiplier estimates. We rely on both crosssectional and time-series variation in spending shocks, exploiting the differential effects of oil price shocks on fuel subsidies, to identify the average government spending multiplier. Our estimates of the average multiplier range between 1.4 and 1.6.


Medium Term Fiscal Multipliers During Protracted Recessions

Author by : Mr.Salvatore Dell'Erba
Languange : en
Publisher by : International Monetary Fund
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Description : The paper examines the consequences of fiscal consolidation in times of persistently low growth and high unemployment by estimating medium-term fiscal multipliers during protracted recessions (PR) in a sample of 17 OECD countries. Based on Jorda’s (2005) local projection methodology, we find that cumulative fiscal multipliers related to output, employment and unemployment at five-year horizons are significantly above one during PR episodes. These results suggest that medium-term fiscal consolidation plans to reduce public debt burdens should proceed gradually if economic activity remains below trend for a prolonged period.


How Big Are Fiscal Multipliers In Latin America

Author by : Jorge Restrepo
Languange : en
Publisher by : International Monetary Fund
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Description : This paper uses the strategy and data of Blanchard and Perotti (BP) to identify fiscal shocks and estimate fiscal multipliers for the United States. With these results, it computes the cumulative multiplier of Ramey and Zubairy (2018), now common in the literature. It finds that, contrary to the peak and through multipliers reported by BP, the cumulative tax multiplier is much larger than the cumulative spending one. Hence, the conclusions depend on the definition of multiplier. This methodology is also used to estimate the effects of fiscal shocks on economic activity in eight Latin American countries. The results suggest that the fiscal multipliers vary significantly across countries, and in some cases multipliers are larger than previously estimated.


How Big Small Are Fiscal Multipliers

Author by : Ethan Ilzetzki
Languange : en
Publisher by : International Monetary Fund
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Description : We contribute to the intense debate on the real effects of fiscal stimuli by showing that the impact of government expenditure shocks depends crucially on key country characteristics, such as the level of development, exchange rate regime, openness to trade, and public indebtedness. Based on a novel quarterly dataset of government expenditure in 44 countries, we find that (i) the output effect of an increase in government consumption is larger in industrial than in developing countries, (ii) the fisscal multiplier is relatively large in economies operating under predetermined exchange rate but zero in economies operating under flexible exchange rates; (iii) fiscal multipliers in open economies are lower than in closed economies and (iv) fiscal multipliers in high-debt countries are also zero.