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Inflation Stabilization And Debt

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Inflation Stabilization And Debt

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Author : Manuel Pastor
language : en
Publisher: Routledge
Release Date : 2019-04-24

Inflation Stabilization And Debt written by Manuel Pastor and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-24 with Political Science categories.

This book analyzes the Peruvian and Bolivian macroeconomic experiments. It contrasts the logic of orthodox and heterodox policy, offers an account of the dynamics of hyperinflation and stabilization, explores the explicit and implicit class character, and suggests some lessons for future policy .

Inflation Stabilization And Debt

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Author : Manuel Pastor, Jr.
language : en
Publisher: Routledge
Release Date : 2019-06-17

Inflation Stabilization And Debt written by Manuel Pastor, Jr. and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-17 with categories.

Stabilization Debt And Reform

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Author : Rudiger Dornbusch
language : en
Publisher:
Release Date : 1993

Stabilization Debt And Reform 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 1993 with Business & Economics categories.

Debt Stabilization Bias And The Taylor Principle

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Author : Sven Jari Stehn
language : en
Publisher: International Monetary Fund
Release Date : 2007-08

Debt Stabilization Bias And The Taylor Principle written by Sven Jari Stehn 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 2007-08 with Business & Economics categories.

We analyse optimal monetary and fiscal policy in a New-Keynesian model with public debt and inflation persistence. Leith and Wren-Lewis (2007) have shown that optimal discretionary policy is subject to a 'debt stabilization bias' which requires debt to be returned to its pre-shock level. This finding has two important implications for optimal discretionary policy. Firstly, as Leith and Wren-Lewis have shown, optimal monetary policy in an economy with high steady-state debt cuts the interest rate in response to a cost-push shock - and therefore violates the Taylor principle. We show that this striking result is not true with high degrees of inflation persistence. Secondly, we show that optimal fiscal policy is more active under discretion than commitment at all degrees of inflation persistence and all levels of debt.

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.

Hyperinflation And Stabilization In Postsocialist Economies

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Author : G.W Kolodko
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Hyperinflation And Stabilization In Postsocialist Economies written by G.W Kolodko and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.

One would think states and peoples have had so many bad experiences with inflation that politicians at the helm of these states would do everything within their power to avoid inflation and, in particular, its very intensive shape, i. e. hyperinflation. However, this has not been the case. After the big inflations of the twenties and the post-war inflations of the fourties, we still witness intensive, economically, socially and politically extremely painful inflationary processes. And the eighties will be particularly engraved in history as a period in which the inflation has assumed an exceptionally dynamic character with respect to some countries. This regards, in the first place, Latin America, but not exclusively. Not without reason -as will be of particular intensity has also affected shown in this book -inflation countries which, according to the passed economic doctrine, were supposed to be completely immune from this economic illness. Most generally, the inflation can be assumed to be a uniform phenomenon which, in each case, can be described by a single, universal definition, while being divided into a number of forms and types distinguishable according to their original and secondary sources, their mechanisms, the ways of their manifestation as well as to their effects and the methods of counteracting them.

Stabilization Debt And Fiscal Policy In The Caribbean

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Author : Ms.Ratna Sahay
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2005-02-01

Stabilization Debt And Fiscal Policy In The Caribbean written by Ms.Ratna Sahay 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 2005-02-01 with Business & Economics categories.

Although Caribbean countries have been largely successful in bringing annual inflation down to single digits in recent years-regardless of their exchange rate regime-their growth rates have been disappointing and their public debt has risen rapidly. By 2003, 14 of 15 Caribbean countries ranked in the top 30 of the world's highly indebted emerging market countries. Most of the increase in their public debt is accounted for by a deterioration in primary fiscal balances that has been largely due to a sharp increase in expenditures rather than a fall in revenues. With the countries of the region now increasingly facing unsustainable debt positions, innovative ways need to be found to raise their economic growth rates and generate fiscal savings to reverse the debt buildup, and to maintain or raise their current living standards.

Inflation Stabilization In Turkey

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Author : Luc Everaert
language : en
Publisher: World Bank Publications
Release Date : 1992

Inflation Stabilization In Turkey written by Luc Everaert 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 1992 with Deficit financing categories.

Adding estimated behavioral equations to the standard RMSM- X model allows it to simulate the short- run consequences of inflation stabilization.

Exchange Rate Based Stabilization In Western Europe

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Author : Ms.Enrica Detragiache
language : en
Publisher: International Monetary Fund
Release Date : 1997-06-01

Exchange Rate Based Stabilization In Western Europe written by Ms.Enrica Detragiache 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 1997-06-01 with Business & Economics categories.

This paper compares the experience with exchange-rate–based stabilization (ERBS) of four Western European countries with that of high-inflation developing countries. In general, the behavior of key macroeconomic variables—inflation, output, demand, the real exchange rate and the current account—in the four countries examined did not correspond to the pattern observed in developing countries, although some resemblance to this pattern could be found in Italy in 1987–92 and Greece in 1994–96. The experience with ERBS in Western Europe highlights the importance of incomes policy as an ingredient of a successful stabilization program and shows that the adoption of a looser anchor does not necessarily reduce the output cost of disinflation.

Lessons Of Economic Stabilization And Its Aftermath

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Author : Banḳ Yiśraʼel
language : en
Publisher: MIT Press
Release Date : 1991

Lessons Of Economic Stabilization And Its Aftermath written by Banḳ Yiśraʼel and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Business & Economics categories.

Comprises essays presented at a conference held in Jerusalem in 1990.

Inflation Stabilization And Debt

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