Disinflation
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Inflation And Disinflation
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Author : Leonardo Leiderman
language : en
Publisher: University of Chicago Press
Release Date : 1993-07-15
Inflation And Disinflation written by Leonardo Leiderman and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-07-15 with Business & Economics categories.
During the early 1980s, Israel's inflation rate rose to almost 500% per year—one of the highest inflation rates in the developed world. In 1985, the Israeli government implemented a program that immediately reduced inflation to 15%-20%, where it remained for the rest of the decade. How did the economy deal with these major changes so rapidly and successfully? In these eighteen articles, Leonardo Leiderman discusses why the Israeli plan worked and considers how other countries might benefit from similar policies. Even though standard economic models predict that output will drop and unemployment will rise during disinflation, Israel saw a boom in private consumption and large increases in real wages that lasted for about three years. To understand how the effects of Israeli disinflation policies defied typical expectations, Leiderman investigates how monetary fiscal policy determined Israel's runaway inflation and how the country brought its economy abruptly under control. He finds that rates of inflation and consumption depend on the public's expectations about future fiscal adjustments and that foreign trade shocks do not inevitably lead to a long-term rise in the inflation rate. His illumination of international trade and domestic policies, past and present, will interest academic economists and policymakers alike.
Inflation Disinflation And Growth
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Author : Mr.Atish R. Ghosh
language : en
Publisher: International Monetary Fund
Release Date : 1998-05-01
Inflation Disinflation And Growth written by Mr.Atish R. Ghosh and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-05-01 with Business & Economics categories.
Although few would doubt that very high inflation is bad for growth, there is much less agreement about moderate inflation’s effects. Using panel regressions and a nonlinear specification, this paper finds a statistically and economically significant negative relationship between inflation and growth. This relationship holds at all but the lowest inflation rates and is robust across various samples and specifications. The method of binary recursive trees identifies inflation as one the most important statistical determinants of growth. Finally, while there are short-run growth costs of disinflation, these are only relevant for the most severe disinflations, or when the initial inflation rate is well within the single-digit range.
Models Of Inflation And The Costs Of Disinflation
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Author : Mr.Bankim Chadha
language : en
Publisher: International Monetary Fund
Release Date : 1991-10-01
Models Of Inflation And The Costs Of Disinflation written by Mr.Bankim Chadha and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-10-01 with Business & Economics categories.
This paper focuses on the output costs of disinflation. A model of inflation with both forward and backward elements seems to characterize reality. Such an inflation model is estimated using data for industrial countries, and the output costs of a disinflation path are calculated, first analytically in a simple theoretical model, then by simulation of a global, multi-region empirical model. The credibility of a preannounced path for money consistent with the lowest output loss is considered. An alternative, more credible policy may be to announce an exchange rate peg to a low inflation currency.
Supply Side Effects Of Disinflation Programs
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Author : Mr.Jorge Roldos
language : en
Publisher: International Monetary Fund
Release Date : 1994-07-01
Supply Side Effects Of Disinflation Programs written by Mr.Jorge Roldos and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-07-01 with Business & Economics categories.
This paper focuses on the short-run and long-run supply-side effects of disinflation programs in a two-sector economy. Fixing the exchange rate reduces the wedge between the return on foreign assets and that on domestic capital, leading to an increase in the latter. After an initial real exchange rate appreciation and increase in the production of nontradables—due to a consumption boom—the new capital is gradually installed in the tradable sector. During this transitional period, further real appreciation takes place—as the expansion of the tradable sector pulls labor away from the nontradable sector—together with investment-driven deficits in the current account. We conclude that when appreciation and deficits are due to supply-side rigidities, rather than to credibility and/or price stickiness, no further policies (i.e., capital controls, incomes policies) are advisable.
Disinflation And The Supply Side
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Author : Pierre-Richard Agénor
language : en
Publisher: World Bank Publications
Release Date : 2000
Disinflation And The Supply Side written by Pierre-Richard Agénor and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Aggregate Demand categories.
What role do supply-side factors play in the dynamics of output and absorption in exchange rate-based stabilization programs?
Disinflation In Transition Economies
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Author : Marek D?browski
language : en
Publisher: Central European University Press
Release Date : 2003-01-01
Disinflation In Transition Economies written by Marek D?browski and has been published by Central European University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-01-01 with Business & Economics categories.
The authors analyze the dynamics of in Central and Eastern Europe. The volume covers all the key factors of disinflation in transition economies: changes in money supply and money demand; exchange rate policy; currency crisis; fiscal policy; legal status of central banks; monetary policy strategy; changes in relative prices and changes in nominal and real wages.
Disinflation
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Author : Fouad Sabry
language : en
Publisher: One Billion Knowledgeable
Release Date : 2024-01-21
Disinflation written by Fouad Sabry and has been published by One Billion Knowledgeable this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-21 with Business & Economics categories.
What is Disinflation Disinflation is a decrease in the rate of inflation - a slowdown in the rate of increase of the general price level of goods and services in a nation's gross domestic product over time. It is the opposite of reflation. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Disinflation Chapter 2: Macroeconomics Chapter 3: Recession Chapter 4: Inflation Chapter 5: Monetarism Chapter 6: Deflation Chapter 7: Monetary policy Chapter 8: Causes of the Great Depression Chapter 9: Price stability Chapter 10: Long Depression Chapter 11: Neutrality of money Chapter 12: Reflation Chapter 13: Friedman rule Chapter 14: Inflation targeting Chapter 15: Indexed unit of account Chapter 16: Deleveraging Chapter 17: Depression of 1920-1921 Chapter 18: Constant purchasing power accounting Chapter 19: Monetary policy of the Philippines Chapter 20: Abenomics Chapter 21: Hyperinflation in the Federal Republic of Yugoslavia (II) Answering the public top questions about disinflation. (III) Real world examples for the usage of disinflation in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Disinflation.
Disinflation External Vulnerability And Fiscal Intransigence
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Author : Mr.Evan C Tanner
language : en
Publisher: International Monetary Fund
Release Date : 2017-05-22
Disinflation External Vulnerability And Fiscal Intransigence written by Mr.Evan C Tanner and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-22 with Business & Economics categories.
This paper examines the policy challenges a country faces when it wants to both reduce inflation and maintain a sustainable external position. Mundell’s (1962) policy assignment framework suggests that these two goals may be mutually incompatible unless monetary and fiscal policies are properly coordinated. Unfortunately, if the fiscal authority is unwilling to cooperate—a case of fiscal intransigence—central banks that pursue a disinflation on a ‘go it alone’ basis will cause the country’s external position to further deteriorate. A dynamic analysis shows that if the central bank itself lacks credibility in its inflation goal, it must rely even more on cooperation from the fiscal authority than otherwise. Echoing Sargent and Wallace’s (1981) ‘unpleasant monetarist arithmetic,’ in these circumstances, a ‘go it alone’ policy may successfully stabilize prices and output, but only on a short-term basis.
Credibility Dynamics And Disinflation Plans
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Author : Rumen Kostadinov
language : en
Publisher: International Monetary Fund
Release Date : 2020-06-05
Credibility Dynamics And Disinflation Plans written by Rumen Kostadinov and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-05 with Business & Economics categories.
We study the optimal design of a disinflation plan by a planner who lacks commitment. Having announced a plan, the Central banker faces a tradeoff between surprise inflation and building reputation, defined as the private sector's belief that the Central bank is committed to the plan. Some plans are harder to sustain: the planner recognizes that paving out future grounds with temptation leads the way for a negative drift of reputation in equilibrium. Plans that successfully create low inflationary expectations balance promises of lower inflation with dynamic incentives that make them more credible. When announcing the disinflation plan, the planner takes into account these anticipated interactions. We find that, even in the zero reputation limit, a gradual disinflation is preferred despite the absence of inflation inertia in the private economy.
Inflation Deflation And Disinflation
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Author : Mubariz Hasanov
language : en
Publisher: Nova Science Publishers
Release Date : 2012
Inflation Deflation And Disinflation written by Mubariz Hasanov and has been published by Nova Science Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Deflation (Finance) categories.