{"title":"对英国失去信心对国内和全球经济的影响","authors":"M. Ramadhan","doi":"10.20414/jed.v5i2.6782","DOIUrl":null,"url":null,"abstract":"Purpose — This research examines the effects of loss of confidence caused by tax cuts in the UK on the domestic and worldwide economies.Method — The G-Cubed model is used to simulate a 5% shock to risk premiums in the UK. G-Cubed is a multi-country, multisector, intertemporal general equilibrium model used to analyse a range of policies in international commerce, tax reform, and environmental regulation. Combining the finest elements of three study fields—econometric general equilibrium modelling, international trade theory, and contemporary macroeconomics—is intended to close the gaps between them.Result — UK currency surplus in non-shocked nations leads to exchange rate decline and capital flight, reducing the capital stock and raising interest rates. Loss of confidence prompts households to discount income, resulting in lower domestic consumption and increased savings, coupled with a decrease in private investment. The UK currency's decline improves net exports but eventually causes a drop in real GDP, with falling investment and consumption exceeding rising net exports. Capital outflows and depreciation lead to inflation, mainly in the short term. However, capital outflows from the UK benefit non-shocked countries by raising capital, investment, capital stock, consumption, and real GDP.Contribution — The present study contributes to the academic literature by offering novel insights into the impact of loss of confidence caused by tax cuts on the economies in both, the UK and other countries, by employing G-Cubed model.","PeriodicalId":35485,"journal":{"name":"International Journal of Management and Enterprise Development","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2023-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Impact of loss of confidence in the UK on the domestic and global economy\",\"authors\":\"M. Ramadhan\",\"doi\":\"10.20414/jed.v5i2.6782\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Purpose — This research examines the effects of loss of confidence caused by tax cuts in the UK on the domestic and worldwide economies.Method — The G-Cubed model is used to simulate a 5% shock to risk premiums in the UK. G-Cubed is a multi-country, multisector, intertemporal general equilibrium model used to analyse a range of policies in international commerce, tax reform, and environmental regulation. Combining the finest elements of three study fields—econometric general equilibrium modelling, international trade theory, and contemporary macroeconomics—is intended to close the gaps between them.Result — UK currency surplus in non-shocked nations leads to exchange rate decline and capital flight, reducing the capital stock and raising interest rates. Loss of confidence prompts households to discount income, resulting in lower domestic consumption and increased savings, coupled with a decrease in private investment. The UK currency's decline improves net exports but eventually causes a drop in real GDP, with falling investment and consumption exceeding rising net exports. Capital outflows and depreciation lead to inflation, mainly in the short term. However, capital outflows from the UK benefit non-shocked countries by raising capital, investment, capital stock, consumption, and real GDP.Contribution — The present study contributes to the academic literature by offering novel insights into the impact of loss of confidence caused by tax cuts on the economies in both, the UK and other countries, by employing G-Cubed model.\",\"PeriodicalId\":35485,\"journal\":{\"name\":\"International Journal of Management and Enterprise Development\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2023-03-25\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Journal of Management and Enterprise Development\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.20414/jed.v5i2.6782\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"Business, Management and Accounting\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Management and Enterprise Development","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.20414/jed.v5i2.6782","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"Business, Management and Accounting","Score":null,"Total":0}
Impact of loss of confidence in the UK on the domestic and global economy
Purpose — This research examines the effects of loss of confidence caused by tax cuts in the UK on the domestic and worldwide economies.Method — The G-Cubed model is used to simulate a 5% shock to risk premiums in the UK. G-Cubed is a multi-country, multisector, intertemporal general equilibrium model used to analyse a range of policies in international commerce, tax reform, and environmental regulation. Combining the finest elements of three study fields—econometric general equilibrium modelling, international trade theory, and contemporary macroeconomics—is intended to close the gaps between them.Result — UK currency surplus in non-shocked nations leads to exchange rate decline and capital flight, reducing the capital stock and raising interest rates. Loss of confidence prompts households to discount income, resulting in lower domestic consumption and increased savings, coupled with a decrease in private investment. The UK currency's decline improves net exports but eventually causes a drop in real GDP, with falling investment and consumption exceeding rising net exports. Capital outflows and depreciation lead to inflation, mainly in the short term. However, capital outflows from the UK benefit non-shocked countries by raising capital, investment, capital stock, consumption, and real GDP.Contribution — The present study contributes to the academic literature by offering novel insights into the impact of loss of confidence caused by tax cuts on the economies in both, the UK and other countries, by employing G-Cubed model.
期刊介绍:
IJMED is a major international research journal dedicated to business development strategy and entrepreneurship policy as well as management processes in an international and cross-cultural context. IJMED provides a venue for high quality papers including theoretical research articles, evidence-based case studies and practical applications seeking to explore best practice and investigate strategies for rapid growth management in SMEs. IJMED has a history of contributing to the academic literature, providing conceptual and practical insights and generating innovative ideas for organizational enterprise. Topics covered include: -SMEs'' start-up development, corporate venturing- Technological opportunities, new firm creation, valuation- Technological adoption, technology transfer, technopreneurship- Joint ventures/alliances, franchising and corporate ownership- Business incubator development strategy- Economic and social entrepreneurship- Virtual coaching services for SMEs- SMEs and entrepreneurship policy- Start-up cognitions/behaviours- Halo effect, technology licensing- Long-run technology investments- Knowledge management/technology strategy in SMEs- Managing rapid growth, accelerating competitive effectiveness- Strategy decision speed and SME performance- Entrepreneurs in non-profit sector.