Experiences With Stopping Inflation
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Experiences With Stopping Inflation
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Author : Leland B. Yeager
language : en
Publisher:
Release Date : 1981
Experiences With Stopping Inflation written by Leland B. Yeager and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Inflation (Finance) categories.
Inflation And The Costs Of Stabilization
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Author : Andres Solimano
language : en
Publisher: World Bank Publications
Release Date :
Inflation And The Costs Of Stabilization written by Andres Solimano 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 with categories.
Stopping Hyperinflation
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Author : Rudiger Dornbusch
language : en
Publisher:
Release Date : 1985
Stopping Hyperinflation written by Rudiger Dornbusch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Economic stabilization categories.
The special role of money in the hyper inflation process, and particularly in the stabilization phase, has now been reconsidered in a bestselling essay by Sargent. The message is that credible fiscal stabilizationis the sine qua non of stopping inflation. This is definitely not viewed as being in conflict with the monetary hypothesis, but it does represent a shift of emphasis. We draw attention to a third aspect of the hyperinflation process, and the stablization, namely exchange rate and interest rate policy. Even though a government may accomplish all the right measures in terms of budget stablization or control of money creation, there remains the problem of making these measures credible and hence being able to actually achieve them. We argue that exchange rate and interest rate policy in the transition have traditionally formed the vehicle for establishing that credibility by a de facto stablization. We make that point by discussing the events of the German hyperinflation. In that case the stablization was a much more diffuse, accidental matter than a reading of the classics reveals with exchange rate policy playing a key role. Immensely high interest rates in the face of a sharply appreciating free market exchange rate wiped out adverse speculation thus helping to establish stablization. The real exchange rate sharply appreciated in the final stage and persisted at an appreciated level well into the post-stabilization phase. It reflects the reverse of the coin of real depreciation in the capital flight phase.
Experiences With Stopping Inflation
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Author : Leland B. Yeager
language : en
Publisher: American Enterprise Institute Press
Release Date : 1981
Experiences With Stopping Inflation written by Leland B. Yeager and has been published by American Enterprise Institute Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Business & Economics categories.
The Great Inflation
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Author : Michael D. Bordo
language : en
Publisher: University of Chicago Press
Release Date : 2013-06-28
The Great Inflation written by Michael D. Bordo 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 2013-06-28 with Business & Economics categories.
Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Inflation Stabilization
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Author : World Institute for Development Economics Research
language : en
Publisher: MIT Press
Release Date : 1988
Inflation Stabilization written by World Institute for Development Economics Research and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Business & Economics categories.
Rampant inflation is a major economic problem in many of the less developed countries; two out of three attempts to stabilize these economies fail. Inflation Stabilization provides a valuable description and a critical analysis of the disinflation programs introduced in Argentina, Bolivia, Brazil, and Israel in 1985-86, and discusses the possibility of such a program in Mexico. It documents the initial steps in stabilization as well as the reasons for failure.As architects of the programs, several of the authors are in key positions to assess which aspects were critical in getting the programs accepted and where to look for difficulties and failures. In Israel, inflation was halted without recession. The challenge to policy makers today is in shifting from stabilization to the revival of sustained growth. This experience is described fully by Michael Bruno and Sylvia Piterman, who examine the critical issue of exchange rates, and by Alex Cukierman, who uses modeling to analyze the interaction of money, wages, prices, and activity under rational expectations that take the government's policy objectives into account.Endemic inflation and a sudden increase in external debt burden Argentina's economy, raising the wider issues of high inflation economies and stabilization that are discussed in the chapter by José Luis Machinea and that by Guido Di Tella and Alfredo Canavese.Eduardo Modiano and Mario Simonsen take up issues of wages in Brazil, particularly the problem of finding an equitable way to deal with a wage freeze; Simonsen develops an ambitious game theoretic rationalization of incomes policy as a coordinating device for imperfectly competitive economies. Bolivia did reach hyperinflation (price increases of more than 50 percent each month) before stabilizing. Juan Antonio Morales shows how stabilizing the exchange rate, in an economy where all pricing was already geared to the dollar, achieved stabilization without a wage or price freeze. And Francisco Gil Diaz asks whether an incomes-policy based program could work to control ever increasing inflation in Mexico.
Exchange Rates And Inflation
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Author : Rudiger Dornbusch
language : en
Publisher: MIT Press
Release Date : 1988
Exchange Rates And Inflation written by Rudiger Dornbusch and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Business & Economics categories.
Collected for the first time in Exchange Rates and Inflation, twenty-two articles are gathered in four parts covering exchange rate theory, special topics in exchange rate economics, equilibrium real exchange rates, and inflation and stabilization.
Stopping High Inflation
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Author : Mr.Carlos A. Végh Gramont
language : en
Publisher: International Monetary Fund
Release Date : 1991-11-01
Stopping High Inflation written by Mr.Carlos A. Végh Gramont 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 1991-11-01 with Business & Economics categories.
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Exploring The Mechanics Of Chronic Inflation And Hyperinflation
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Author : Fernando de Holanda Barbosa
language : en
Publisher: Springer
Release Date : 2016-10-17
Exploring The Mechanics Of Chronic Inflation And Hyperinflation written by Fernando de Holanda Barbosa and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-10-17 with Business & Economics categories.
This book presents a theoretical framework to explain chronic inflation and hyperinflation. The roots of these two phenomenon are a fiscal monetary regime in which money issues finance the public deficit. Chronic inflation is modeled by using both the old and the new Keynesian model, with a different policy rule. Instead of using the Taylor rule, the central bank policy rule states that money is issued to finance the public deficit. The chronic inflation models take into account the fact that indexation mechanisms adjust prices and wages, yielding the inertial component of inflation. The dynamics of these models can be very unstable under parameter changes or shocks that hit the economy. The previous hyperinflation models surveyed in this book attempt to explain hyperinflation as a bubble phenomenon because they assume a constant real deficit financed by money. The mechanics of hyperinflation models in this book explains hyperinflation by a fiscal crisis, characterized by an increasing fiscal deficit. This fiscal crisis yields an intertemporal budget constraint that is not sustainable. The analysis of the pathology of hyperinflation uses the same tools employed to understand the pathologies of public debt and external debt crises. The hyperinflation model allows a taxonomy of hyperinflations, namely bubble, weak and strong, that can be tested with the inflation tax revenue curve.
Money And Markets
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Author : Roger Koppl
language : en
Publisher: Routledge
Release Date : 2006-09-27
Money And Markets written by Roger Koppl and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-09-27 with Business & Economics categories.
A number of top class contributors including James Buchanan, Gordon Tullock, David Colander, Deirdre McCloskey and Roger Garrison have been brought together to produce a festschrift in honor of the important and celebrated economist Leland Yeager.