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Macro > Context > Flashcards

Context Flashcards

1
Q

Low ir

A

China in 2023
Japan -0.1% for a while but now is 0-0.1% - due to low business confidence no I

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2
Q

High ir

A

Turkey due to inflation and wpidec to beyond 40%
Argentina beyond 100% due to recession and inflation
Uk and USA increased during 2022 and 23 rapidly

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3
Q

High consumer confidence

A

India on par with pre pandemic levels
UAE and Qatar due to high oil p

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4
Q

Low consumer confidence

A

Eurozone and uk due to Covid

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5
Q

High asset p

A

Uk with house p rises

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6
Q

Low asset p

A

Uk and us stocks in march 2020

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7
Q

Household indebtedness

A

Germany low as they spend mainly from savings
Uk and USA high as they are reliant on credit

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8
Q

Real disposable income

A

India has high due to quick Covid recovery
Uk and eurozone low due to high inflation

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9
Q

Low Y tax

A

USA reducing rates and increasing in line with inflation to prevent fiscal drag
Uk increasing tax free allowance and 40% y threshold and reducing top tax band from 50 to 45% and national insurance cut

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10
Q

High y tax

A

Scotland increasing y tax - large discrepancy in band rates may cause unintended consequences
France’s millionaires tax of 75% being voided due to people leaving and voicing disinterest in coming and trouble attracting talented workers from abroad
Uk reducing highest tax hand threshold and freezing other tax bands till 2028 (fiscal drag)

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11
Q

Low business confidence

A

Uk due to brexit (supply chain disruption, trade friction, uncertainty) inflation and Covid

Eurozone due to inflation and high energy costs with low consumer demand

USA high costs of living and threat of recession

All could recover in 2024 due to lower inflation, easing of energy crisis and general improvement in economic outlook

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12
Q

Low corporation tax

A

Uk cut from 28 to 19%
Us cut from 35 to 21%
Ireland at 12.5% attracts lots of fdi

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13
Q

High corporation tax

A

France at 31% to fund budget deficit and high debt levels
Uk increase from 19 to 25% to raise revenue and remove debt from Covid and energy crisis

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14
Q

Gov spending

A

France Germany uk USA japan released packages for households and business for Covid

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15
Q

Austerity

A

2010 to 2019 uk cutting funding to councils police defence and welfare

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16
Q

Weak ex rate

A

Uk pound
Japan yen

17
Q

Strong ex rate

A

Us dollar

18
Q

Sras

A

Increased in 2022 23 due to oil gas electric rises so sras left

Germany cut vat rate reducing business costs in 2020
Uk reducing vat for hospitality in 2020

Uk annual w growth peaking at 8% 2023

19
Q

Recession

A

D side
Covid
Financial crisis

S side
Germany 2023 due to high oil energy and food prices due to russia Ukraine

20
Q

Problems with gdp as a measure of growth

A

Informal sectors in Italy and Greece
Pollution in India and china
Malaysia deforestation

21
Q

Problems with cpi as a measure of inflation uk

A

Shrinkflation (Kit Kats snickers twix) have become smaller in size but at the same p so not taken into account by inflation figures
Too slow (hand sanitiser and video conferencing software entered in 2021 march)

22
Q

Cyclical u

A

Covid

23
Q

D pull inflation

A

Strong economic growth uk usa 2021

24
Q

C push inflation

A

Oil energy and food prices exacerbated by Russia Ukraine war

25
Q

Bad deflation

A

Japan

26
Q

Good deflation

A

Uk eurozone 2015 16

27
Q

Expansionary monetary and fiscal policy

A

Uk Covid reduced ir from 0.75 to 0.1% and qe
Ir were already low so didn’t rlly help
More qe helped
Low consumer and business confidence halted growth
Large increase in money supply may have caused the high inflation

Japan negative ir

28
Q

Contractionary monetary policy

A

Uk and USA 2022 23
Didn’t really help as inflation was due to s side issues (p of oil energy and food) that monetary policy doesn’t directly target

29
Q

Contractionary fiscal policy

A

Uk austerity cutting g
Tax rises in uk increasing t

30
Q

Ssps

A

Uk 2019 Investment tax free allowance increased
Cutting corporation tax to increase rp
Increasing y tax free allowance to encourage inactive into work and raise productivity
Apprenticeship levy
Curriculum changes
Real increase in nhs budget
30 hours gov funded childcare per week
National roads fund
Hs2
5G
Deregulation
Cutting planning permission

31
Q

Protectionism

A

USA china trade war
China accused of illegal dumping, currency manipulation, tariffs.
Destruction of us jobs and industries

Raising and increasing breadth of tariffs
Tariff retaliation esp on sensitive goods in republican swing states

Eu russia bilateral sanctions

32
Q

Free trade

A

Uk eu free trade deal

33
Q

Lack of international competitiveness in uk due to

A

High ulcs due to high wmin and low productivity
Low I

Macro (4 decks)

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