Narrow Results

This paper examines Singapore's fiscal position and its unique way of financing targeted welfare programs. We examine how reserves are accumulated through fiscal discipline during times of phenomenal economic growth in Singapore and when Singapore was enjoying demographic dividend. The existence of the large accumulated reserves has resulted in particular features of the Singapore's budgetary process, such as fiscal rules, which govern the utilization of revenues from the reserves. Innovative budget implementation, such as Block Budgeting, has helped Singapore to ensure fiscal sustainability. The accumulation of reserves throughout its economic history has afforded Singapore a unique way to fund social protection through special transfers and funds, without having to raise taxes.

By adapting the emerging conceptualization of reliability network equivalents, originally developed to obtain reliability indices in the restructured scenario, a suitable framework encapsulating relatively independent modularity could be evolved that shall enable the application of joint deterministic- probabilistic well being-analysis for the composite restructured power systems. Reliability management forms the core component of successful transition from vertical integration of power systems to their deregulation. Timely reinforcements to the resource adequacy will ensure reliably operating power systems. Redundancy apportioning without pessimistic appraisals or exceedingly optimistic estimates is a vital ingredient for the success of restructured systems. With these goals in mind, this paper puts forward a philosophical modeling paradigm that investigates the feasibility of extending the hybrid approach of well-being analysis to a composite bilateral contracts market structure, a potential indicator of generation reinforcements to gear up for. Probabilistic load flow studies as a means to justify transmission reinforcements is also brought forward. Also presented is an overview of the reliability cost-worth methods, information from which forms an integral part of the reinforcement strategies.

This paper provides an analysis of the liquidity management of the euro. We tested the influence of five variables (the exchange rate, the price of oil, the EU deficit, the EU interest rate, and the U.S. interest rate) on the euro liquidity supply in addition to the fluctuation of the liquidity supply before and after September 11, 2001. While the literature focuses on the internal European institutional environment, this study looks at the international systemic risks and their influence on the liquidity supply. Ultimately, we come to the conclusion that the ECB’s liquidity supply is affected by international factors.