{"id":1138,"date":"2017-08-04T21:08:35","date_gmt":"2017-08-04T21:08:35","guid":{"rendered":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/chapter\/introduction-to-macroeconomic-policy-around-the-world\/"},"modified":"2023-10-27T01:24:40","modified_gmt":"2023-10-27T01:24:40","slug":"introduction-to-macroeconomic-policy-around-the-world","status":"publish","type":"chapter","link":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/chapter\/introduction-to-macroeconomic-policy-around-the-world\/","title":{"raw":"Chapter 4 - Introduction to Economic Growth Policies around the World","rendered":"Chapter 4 – Introduction to Economic Growth Policies around the World"},"content":{"raw":"
\r\n\r\n[caption id=\"\" align=\"aligncenter\" width=\"780\"]\"This Figure 1.<\/strong> Looking for Work. Job fairs and job centers are often available to help match people to jobs. This fair took place in the U.S. (Hawaii), a high-income country with policies to keep unemployment levels in check. Unemployment is an issue that has different causes in different countries, and is especially severe in the low- and middle-income economies around the world. (Credit: modification of work by Daniel Ramirez\/Flickr Creative Commons)[\/caption]<\/figure>\r\n
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Youth Unemployment: Three Cases<\/h3>\r\n

Chad Harding, a young man from Cape Town, South Africa, completed school having done well on his exams. He had high hopes for the future. Like many young South Africans, however, he had difficulty finding a job. \u201cI was just stuck at home waiting, waiting for something to come up,\u201d he said in a BBC interview in 2012. In South Africa 54.6% of young females and 47.2% of males are unemployed. In fact, the problem is not limited to South Africa. Seventy-three million of the world\u2019s youth aged 15 to 24 are currently unemployed, according to the International Labour Organization.<\/p>\r\n

According to the Wall Street Journal,<\/em> in India, 60% of the labor force is self-employed, largely because of labor market regulation. A recent World Development Report by The World Bank says that India\u2019s unemployed youth accounted for 9.9% of the youth work force in 2010. In Spain (a far richer country) in the same year, the female\/male youth unemployment rate was 39.8% and 43.2% respectively.<\/p>\r\n

Youth unemployment is a significant issue in many parts of the world. However, despite the apparent similarities in rates between South Africa, Spain, and India, macroeconomic policy solutions to decrease youth unemployment in these three countries are different. This chapter will look at macroeconomic policies around the world, specifically those related to reducing unemployment, promoting economic growth, and stable inflation and exchange rates. Then we will look again at the three cases of South Africa, Spain, and India.<\/p>\r\n\r\n<\/div>\r\n

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Chapter\u00a0Objectives<\/h3>\r\nIntroduction to Macroeconomic Policy around the World<\/strong>\r\n

In this chapter, you will learn about:<\/p>\r\n\r\n