The Impact of Financial Crisis on UK Fiscal Policy and Government Debt Essay

The Impact of Financial Crisis on UK Fiscal Policy and Government Debt - Essay Example The current crisis is definitely more pronounced and prolonged than any other previous financial crisis, yet support from fiscal policy, monetary policy, use of guarantees on liabilities and purchase of assets has helped in reducing the direct fiscal costs (Laeven & Valencia, 2012). While such efforts might have led to minimizing the direct impact of the financial crisis yet it has been becoming a rising concern for fiscal sustainability in many countries, as the fiscal policy has led to increasing the public debt burden as well as the government contingent liabilities size. Fiscal policy holds great interest for policy makers as it has the ability to act as an instrumental tool for growth and development in the long run (Brahmbhatt & Otaviano, 2012). Fiscal policy is no business strategy, for a national economy is by no means a business, it does not earn; rather it implies how the public is taxed and how the government spends the gathered money (debt bombshell, 2012). In the UK the national debt is the amount that is owed to the private sector and UK gilts purchases. The government spends more money than it can afford to tax, leading to selling bonds/gilts.The case study is based on two economic theories and their fundamental aspects while addressing the research questions.Battaglini and Coate (2008) presented the political economy model. The model was meant to understand the influence of the fiscal policy that it has on the Business cycle

Monet Essay Example | Topics and Well Written Essays - 2000 words

Monet - Essay Example Bearing in mind how all these painters elaborated their strongly personal manners relating to the new imaginative ideas, one notices that the new aspects appeared most frequently in the work of Monet to be captured by the other Impressionists including them as ideas or as explicit methods and applying them in their own ways (Monet biography, repropaint.com, Monet, artchive.com) Monet's father wanted him to go into the family business of trading in grocery supplies but Monet (the second son of Claude-Adolphe and Louise-Justine Aubre Monet) wanted to become an artist and was admitted in the Le Havre secondary school of the arts in 1851 after his family shifted at that region. He was not a typical, good student in school. He had said, "School seemed like a prison and I could never bear to stay there, especially when the sunshine beckoned and the sea was smooth." He always drew funny caricatures of his teachers. He always got in trouble for his drawings, but he became very good at them (thinkquest.org). It was Eugene Boudin Boudin, his early mentor, who used to draw his sketches outdoors that pushed Monet to do the same. "Suddenly the veil was torn away.... My destiny as a painter opened out to me," he later said. For the next 60 years Monet delved into the effects of light on open-air scenes (plein-air landscape painting). He was the first artist to let his f irst impressions remain as finished works, rather than as "notes" for doing work inside the studio. (House, 1998, Monet bio, repropaint.com). After his mother died when he was only 16 years (in 1857) he left school, went to live with his childless aunt. His family was not very happy about his occupation as a painter. In 1860 he was conscripted and had to go to Northern Africa for two years. After his return he took a trip to Paris to visit the Louvre Museum copying old masters and took painting lessons at Gleyre's studio in Paris wher he got to know Auguste Renoir, Sisley, Bazille, Pissarro ,Edouard Manet.and others. The basis of the future Impressionist movement was built. Monet liked to paint water, the way colors reflected in the water and boats, seas, and lakes were some of his pet subjects, so much so that after he married in 1870 (he married his favorite model Camille, whom he painted in Women in the Garden), and settled in Argenteuil, he fixed a boat with an easel and painted his way wavering down the Seine River, seizing his impressions of the relationship of light, water and surroundings. The boat served him as h is floating studio where he kept paints, brushes, canvas, and drawing materials (thinkquest.org, repropaint.com). Colors in plein air Soon, Monet averted from the conventional style of painting inside a studio and with his new friends went outside in the Fontainebleau forest to paint in the open air. Albeit Monet painted outside, he never found it to be easy. Every time, more or less, he painted outside, a bit got glued to the wet paint. If he was in the wilderness, sand and rock would get attached to his paintings. In the forest, leaves and other things would fix to his