Exchange Rate Based Stabilization With Endogenous Fiscal Response
DOWNLOAD
Download Exchange Rate Based Stabilization With Endogenous Fiscal Response PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Exchange Rate Based Stabilization With Endogenous Fiscal Response book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
The Role Of Fiscal Policy In Sustainable Stabilization
DOWNLOAD
Author : Mr.Gerd Schwartz
language : en
Publisher: International Monetary Fund
Release Date : 1997-08-01
The Role Of Fiscal Policy In Sustainable Stabilization written by Mr.Gerd Schwartz 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 1997-08-01 with Business & Economics categories.
This paper reviews the role of fiscal policy in a number of stabilization programs in Latin America since the early 1980s. The paper highlights the importance of sustainable fiscal adjustment in stabilization efforts, and discusses the main issues that arise in this context. By reviewing the Latin American experience, it is argued that responsibility for failed stabilization attempts can be traced to four main factors: inconsistent policy mixes; excessive reliance on temporary factors of improvement in the fiscal accounts; failure to implement fundamental fiscal reforms; and lack of complementary structural reforms.
Do Fixed Exchange Rates Induce More Fiscal Discipline
DOWNLOAD
Author : Mr.Yan Sun
language : en
Publisher: International Monetary Fund
Release Date : 2003-04-01
Do Fixed Exchange Rates Induce More Fiscal Discipline written by Mr.Yan Sun 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 2003-04-01 with Business & Economics categories.
Conventional wisdom has held that a fixed exchange rate regime induces more fiscal discipline, but Tornell and Velasco (1995, 1998) argue the opposite. Using a dynamic model with fragmented fiscal policymaking, this paper evaluates the two arguments in a single framework and shows that (1) future punishment against fiscal laxity exists under both fixed and flexible regimes; (2) fiscal authorities have a greater incentive to spend more today under fixed rates than under flexible rates; (3) in the presence of both factors above, fixed rates will induce more fiscal discipline only if the future punishment is sufficiently stronger than under flexible rates; and (4) neither fixed nor flexible rates could resolve the structural distortions caused by fragmented policymaking, and fiscal centralization needs to be undertaken to strengthen fiscal discipline.
Modern Exchange Rate Regimes Stabilisation Programmes And Co Ordination Of Macroeconomic Policies
DOWNLOAD
Author : Maria Luiza Falcão Silva
language : en
Publisher: Routledge
Release Date : 2018-08-17
Modern Exchange Rate Regimes Stabilisation Programmes And Co Ordination Of Macroeconomic Policies written by Maria Luiza Falcão Silva and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-17 with Business & Economics categories.
Published in 1999, this work analyzes the phenomenon of macroeconomic adjustment, with special emphasis on selected Latin American countries facing stabilization programmes. It provides a historical description of the origins, functioning and collapse of exchange-rate regimes from the international classical gold standard period to modern arrangements. The author supports the argument that systemic asymmetries in the worldwide adjustment mechanism are inherent in the international monetary system. The recent theoretical literature dealing with the rules vs discretion debate and its interaction with the credibility issue is reviewed. This topic is intrinsically related to the dispute over the appropriate role of exchange-rate anchors in disinflation programmes. Against a background of academic dispute between advocates of exchange-rate prescriptions and monetary conceptions, the contrasting views of different theorists regarding the choice of exchange rate regimes are presented and assessed. Finally, a comparative analysis of recent experiments in Argentina, Brazil, Chile and Mexico with exchange-rate based disinflation stabilization programmes is undertaken. The problems that have arisen while establishing new institutional arrangements, such as new currency or a policy rule for monetary base creation, are examined.
Essays On Exchange Rate Based Stabilization And Inflation Convergence
DOWNLOAD
Author : Piero S. Ghezzi
language : en
Publisher:
Release Date : 1997
Essays On Exchange Rate Based Stabilization And Inflation Convergence written by Piero S. Ghezzi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with categories.
Exchange Rate Appreciations Labor Market Rigidities And Informality
DOWNLOAD
Author : Norbert M. Fiess
language : en
Publisher: World Bank Publications
Release Date : 2002
Exchange Rate Appreciations Labor Market Rigidities And Informality written by Norbert M. Fiess 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 2002 with Foreign exchange market categories.
Monetary Theory As A Basis For Monetary Policy
DOWNLOAD
Author : A. Leijonhufvud
language : en
Publisher: Springer
Release Date : 2016-03-11
Monetary Theory As A Basis For Monetary Policy written by A. Leijonhufvud and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-11 with Business & Economics categories.
Since the inflationary 1970s, theoretical work on monetary policy has concentrated almost exclusively on price-level stabilization and the avoidance of nominal shocks. In the aftermath of the collapse of financial bubbles in various parts of the world, the accomplishments and limitations of this dominant approach are debated in this volume edited by Axel Leijonhufvud, with contributions by a number of noted monetary economists, including Nobel Laureate Robert Lucas.
Macroeconomic Stability In Developing Countries
DOWNLOAD
Author : Peter Montiel
language : en
Publisher: World Bank Publications
Release Date : 2004
Macroeconomic Stability In Developing Countries written by Peter Montiel 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 2004 with Developing countries categories.
"In the 1990s macroeconomic policies improved in a majority of developing countries, but the growth dividend from such improvement fell short of expectations, and a policy agenda focused on stability turned out to be associated with a multiplicity of financial crises. Montiel and Serven take a retrospective look at the content and implementation of the macroeconomic reform agenda of the 1990s. They review the progress achieved with fiscal, monetary, and exchange rate policies across the developing world, and the effectiveness of the changing policy framework in promoting stability and growth. The main lesson is that slow growth and frequent crises resulted, more often than not, from shortcomings in the reform agenda of the 1990s. These shortcomings essentially concern the depth and breadth of the macroeconomic reform agenda, its attention to macroeconomic vulnerabilities, and the complementary reforms outside the macroeconomic sphere"--Abstract.
Annual World Bank Conference On Development Economics 2000
DOWNLOAD
Author : Boris Pleskovic
language : en
Publisher: World Bank Publications
Release Date : 2001
Annual World Bank Conference On Development Economics 2000 written by Boris Pleskovic 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 2001 with Political Science categories.
Annotation This 12th Annual World Bank Conference on Development Economics focuses mainly on four areas: new development thinking, crises and recovery, corporate governance and restructuring, and social security including public and private savings.
Monetary Policy And Exchange Rate Regimes
DOWNLOAD
Author : Eliana A. Cardoso
language : en
Publisher: American Univ in Cairo Press
Release Date : 2002
Monetary Policy And Exchange Rate Regimes written by Eliana A. Cardoso and has been published by American Univ in Cairo Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
Monetary Policy and Exchange Rate Regimes: Options for the Middle East examines some of the most pressing issues facing policymakers today. The authors offer answers to such questions as: Are the choices of exchange rate regime limited to hard fixing or fully floating? Are capital flight and banking crises avoidable? What is the best way to coordinate monetary and fiscal policies? The answers to these questions draw on the vast literature available on these topics as well as the lessons learned from recent crises, especially in East Asia and Latin America. Beside its broad coverage, this volume includes rich analyses on specific countries of the Middle East. It merits a wide readership, but policymakers seeking to achieve macroeconomic stability and growth will find it particularly useful.
The Debt Burden And Its Consequences For Monetary Policy
DOWNLOAD
Author : Guillermo Calvo
language : en
Publisher: Springer
Release Date : 1998-02-12
The Debt Burden And Its Consequences For Monetary Policy written by Guillermo Calvo and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-02-12 with Business & Economics categories.
In all countries debt and deficits of the public sector are at the heart of economic policy debate. Debt and deficits pose major problems, all the more pressing in Europe because of the Maastricht criteria for entry into European Monetary Union. And in the developing world debt has been associated with major financial crises. This volume, arising from an International Economic Association conference at the Bundesbank, sees academics and policy makers debate the key issues and their implications in theory and practice.