Iraqi Journal For Economic Sciences

International Financial Stability: Macroprudential policies and Global Imbalances ABSTRACT The mainstream paradigm of macroeconomic policy models allows no room for crises of the sort the major economies are experiencing. The apparatus of economic Analysis although provides good expost interpretation has delivered no robust forecasts well head of the turmoil. The article has reviewed the assumptions and conclusions of the ongoing discussions in an attempt to rethinking of macroeconomic theorizing. There are many dead ends in the prevailing macroeconomics along with promising strands of thought to be pursued. The concept of stability is the main concern of the article highlighting the failure of inflation as a proxy for overall performance. Inflations targeting proved to be neither necessary nor sufficient to stabilization of the financial sector which has been the crux of the post Breton woods economies. Furthermore, the economics of special case, like our oil dominated economy, and Asian emergent of successful performance like china, and other members of group of 20, have not been effectively contained in the main body of the profession. As a result, the economists are no longer the true advisors to their government in economic management. Dissatisfaction with these shortcomings may lead to fruitful inventions in the way of thinking and tools of policy formulation. The article, tried to assess the findings of the relationships between global imbalance, differential economic structures, of the major players in the world, and monetary policies. The new proposals of macro prudential tools to maintain financial stability are investigated. The article is more inclined to saving- investment gaps in understanding the global imbalances and the challenge of high capital flows. Also, the sovereign indebtedness, particularly of peripheral Europe, is incorporated. The main conclusions are: the conceptual framework of stabilization policy need to be radically changed. Fiscal and monetary policies in advanced economies would most likely be reoriented to check irregularities of the financial sector. International competitive power is the main policy target of emerging economies. And the rules of international coordination, which have been formally established, lack the conditions of compliance due to significant divergence in national interests. Therefore, a realistic approach is required and better political environment to move forward.

A Suggested Method to Estimat the Potential Output Potential output is the level of output that can be produced at a level of full employment. The importance of potential output that it's reflects the level of output that can be produced without undesired inflation. Then the policy maker will be able to depend on the level of potential output in relation with the level of actual output (or what might be called output gap) as an indicator of loss in production capacity when it exceeds the actual level of potential output. Otherwise, it means a stress on the resources, and may lead to inflationary pressures when there is no flexibility in the possibility of production, or may lead to an additional catalytic effect of the economy when there is complete flexibility in the possibility of production. As a result of the importance of the potential output variable and depending on the logic of economic theory, the research has tried to device an easy way, different from the ways that depend on a complex time series ways. The devised method has been applied on the Iraqi economy, and the significant results were obtained.

This paper is congider as attempt to take view of the most important challenges which facing the Iraqi economy accession to WTO, as observant member now and managed many introductory negotiations meetings.
Discovering the possible potentials to facing such challenges is the other target of the paper.
The most concern mater is considering WTO accession as sum-zero game, especially to Iraq and other developing countries, when gains of one side equal to losses of other side, in this case there is minimum chance to be the Iraqi economy is the winner side. But all optimists believe that the game is sum-positive game, all sides get gains, which doesn’t proved to all pessimists yet, in spite of all classic and modern trade theories.
For that purposes the paper presents expected challenges analysis in the fields preferences, SMCs, trade facilitation, Israel boycott and regional integration, ending with special prospect to face such challenges.

The aim of the study is to spot light on actual situation in Iraqi universities in general, and in AL- mustansirya university especially, in the light of learning product quality, direct cost, invisible cost at country level and study how much universities need to anew model to working with to be enable to serve (student, university, community and country) with learning product quality assurance.
The study based on historical data with using two kind of questionnaire, one to evaluate student performance another to evaluate teacher's performance.
The research has found number of conclusions such as low level of (learning product quality, economic benefit, and using advance techniques).
The study recommends a model to replace evening studies which mixed between lectures and electronic learning.