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A Cost Benefit Analysis Of Going From Low Inflation To Price Stability In Spain
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Book Synopsis A Cost-benefit Analysis of Going from Low Inflation to Price Stability in Spain by : Juan José Dolado
Download or read book A Cost-benefit Analysis of Going from Low Inflation to Price Stability in Spain written by Juan José Dolado and published by . This book was released on 1997 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Se propone evidencia empírica sobre la orientación de la política monetaria española de los últimos años para la reducción de la inflación y la estabilidad de los precios.
Book Synopsis A Cost-benefit Analysis of Going from Low Inflation to Price Stability in Spain by : Juan José Dolado Lobregad
Download or read book A Cost-benefit Analysis of Going from Low Inflation to Price Stability in Spain written by Juan José Dolado Lobregad and published by . This book was released on 1997 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Costs and Benefits of Price Stability by : Martin Feldstein
Download or read book The Costs and Benefits of Price Stability written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the Federal Reserve and central banks worldwide have enjoyed remarkable success in their battle against inflation. The challenge now confronting the Fed and its counterparts is how to proceed in this newly benign economic environment: Should monetary policy seek to maintain a rate of low-level inflation or eliminate inflation altogether in an effort to attain full price stability? In a seminal article published in 1997, Martin Feldstein developed a framework for calculating the gains in economic welfare that might result from a move from a low level of inflation to full price stability. The present volume extends that analysis, focusing on the likely costs and benefits of achieving price stability not only in the United States, but in Germany, Spain, and the United Kingdom as well. The results show that even small changes in already low inflation rates can have a substantial impact on the economic performance of different countries, and that variations in national tax rules can affect the level of gain from disinflation.
Book Synopsis The ECB'S Inflation Objective by : Mads Kieler
Download or read book The ECB'S Inflation Objective written by Mads Kieler and published by International Monetary Fund. This book was released on 2003-04-01 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ECB's objective of medium-term inflation below 2 percent has been portrayed by critics as ambiguous, asymmetric, and excessively stringent. This paper attempts a comprehensive evaluation of the trade-offs for the euro area and finds that: (1) in terms of guiding inflation expectations and policymaking, the current definition has functioned much as would an inflation target centered on 1 1/2-1 3/4 percent; (2) the absence of a specific (point) target for medium-term inflation has encumbered the communication of monetary policy; and (3) a target toward the upper end of the ECB's price-stability range would seem, at least with the current membership of EMU, to strike a judicious balance between the benefits of price stability, on the one hand, and the need to assist relative price and wage adjustment across EMU and safeguard against deflation, on the other hand.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1451812981 Total Pages :120 pages Book Rating :4.4/5 (518 download)
Book Synopsis Monetary and Exchange Rate Policies of the Euro Area by : International Monetary Fund
Download or read book Monetary and Exchange Rate Policies of the Euro Area written by International Monetary Fund and published by International Monetary Fund. This book was released on 2002-10-29 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines monetary and exchange rate policies of the euro area. The paper reviews the European Central Bank’s definition of price stability, and examines the factors determining “the optimal rate of inflation” in the euro area. It reviews the benefits of price stability, including the reduction in the distortions of savings and investment behavior that stem from the interaction between nominal tax systems and inflation. It then goes on to evaluate arguments for maintaining a small positive inflation rate in the context of the euro area.
Book Synopsis Designing Central Banks by : Heinz Herrmann
Download or read book Designing Central Banks written by Heinz Herrmann and published by Routledge. This book was released on 2009-09-10 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: The activities of central banks are relevant to everyone in society. This book starts by considering how and why in general central banks evolved and specifically the special aspects of the contribution of the Northern European Central Banking Tradition. With that foundation, the book will then turn to a series of contemporary themes. Firstly, this book looks at independence, how central banks can actually influence their respective economies, goals, responsibilities and governance. This collection of papers, formulated from the joint conference of the Bank of Finland and the Deutsche Bundesbank in November 2007, will help motivate continuing research into the institutional design of central banks and promote a better understanding of the many challenges central banks are facing today. This volume gives a detailed perspective on the benefits of price stability and central bank independence and, due to the advances in macroeconomic theory, has prompted a substantial rethink on central banks’ institutional design. With contributions from such scholars as Anne Sibert and Forrest Capie and a foreword by Erkki Liikanen and Professor Axel A. Weber, this volume will be useful reading for monetary economists around the world as well as all those with an interest in central banks and banking more generally.
Book Synopsis Spain and Portugal in the European Union by : Paul Christopher Manuel
Download or read book Spain and Portugal in the European Union written by Paul Christopher Manuel and published by Routledge. This book was released on 2004-06 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing upon the 15 years during which Spain and Portugal have been members of the European Union, this collection of essays addresses issues related to the anniversary which took place in 2001.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1451812019 Total Pages :122 pages Book Rating :4.4/5 (518 download)
Book Synopsis Spain by : International Monetary Fund
Download or read book Spain written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-06-22 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper analyzes the sources of the persistence of geographical unemployment imbalances and low speed of adjustment to regional labor demand shocks in Spain. The paper argues that, under present labor market arrangements, these imbalances are unlikely to be corrected in the near future. In particular, the current wage bargaining system appears to be excessively centralized and to result in nationally set wages that are too high to reduce unemployment in high-unemployment areas. The paper also analyzes the May 1997 labor market reform.
Book Synopsis Disinflation in Spain by : Mr.Nicolas Sobczak
Download or read book Disinflation in Spain written by Mr.Nicolas Sobczak and published by International Monetary Fund. This book was released on 1998-08-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the causes of the recent disinflation in Spain. A standard Phillips curve model is used to disentangle the contributions of three possible shocks: an adverse demand shock that raises unemployment, a positive supply shock resulting from relative price adjustments or structural improvements in the labor market, and a credibility shock that lowers inflationary expectations. The main element underlying Spain’s recent disinflation appears to be a fall in inflation expectations, thanks to the country’s commitment to participate in Economic and Monetary Union from the start, and policy actions geared to that end.
Author :Chairman of the Center for Social and Economic Research and the Foundation for Economic Education Professor of Economics Leszek Balcerowicz Publisher :MIT Press ISBN 13 :0262025957 Total Pages :443 pages Book Rating :4.2/5 (62 download)
Book Synopsis Living Standards and the Wealth of Nations by : Chairman of the Center for Social and Economic Research and the Foundation for Economic Education Professor of Economics Leszek Balcerowicz
Download or read book Living Standards and the Wealth of Nations written by Chairman of the Center for Social and Economic Research and the Foundation for Economic Education Professor of Economics Leszek Balcerowicz and published by MIT Press. This book was released on 2006 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: After general discussions of the theoretical requirements for "rapid catch up" and the possible link between democracy and growth, the book presents global case studies of both non-EU and EU countries, including a provocative comparison of growth in the transition economies of the CEE (Central and Eastern Europe) nations and the 12 non-Baltic states of the former Soviet Union. It then considers nominal as opposed to real convergence in the European Monetary Union. Taken together, the chapters present a consistent argument that reliance on market forces within an open economy in a stable macroeconomic environment, with assured property rights, is the key to rapid economic growth. Offers detailed theoretical and empirical examinations of what makes for successful convergence. This book presents global case studies of both non-EU and EU countries, including a provocative comparison of growth in the transition economies of the CEE (Central and Eastern Europe) nations and the 12 non-Baltic states of the former Soviet Union. A group of prominent international economists consider what makes for successful convergence - what policies and economic conditions help poor countries catch up to the living standards of rich countries. The question of convergence, or under what conditions the per capita income levels of developing countries can catch up to those found in advanced economies, is critical for understanding economic growth and development. Convergence has happened in many countries and appears to be taking place now in China and India - yet in general per capita income levels in the poorer countries do not converge towards those of richer countries as uniformly as the analytical models predict. "Living Standards and the Wealth of Nations", which grew out of a 2003 conference on convergence hosted by the National Bank of Poland, offers detailed theoretical and empirical examinations of what makes for successful convergence.
Book Synopsis OECD Economic Surveys: Spain 2000 by : OECD
Download or read book OECD Economic Surveys: Spain 2000 written by OECD and published by OECD Publishing. This book was released on 2000-03-01 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2000 edition of OECD's periodic review of Spain's economy examines recent economic developments, policies and prospects and includes special features on structural reforms and the tax system.
Book Synopsis Monetary Policy when Inflation is Low by : Charles A. Pigott
Download or read book Monetary Policy when Inflation is Low written by Charles A. Pigott and published by . This book was released on 1998 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book OECD Working Papers written by and published by . This book was released on 2000 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of Research on Cost-benefit Analysis by : Robert J. Brent
Download or read book Handbook of Research on Cost-benefit Analysis written by Robert J. Brent and published by Edward Elgar Publishing. This book was released on 2009 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides an authoritative overview of current research in the field of cost-benefit analysis and is designed as a starting point for those interested in undertaking advanced research. The Handbook contains major contributions to the development of the field, focussing on standard microeconomic policy evaluations, the relatively neglected area of macroeconomic policy and its integration into a formal CBA framework, and dynamic considerations in CBA Presenting insights from many influential thinkers, and edited by a leading academic in the field, this comprehensive work will prove an invaluable reference tool for economists, researchers and scholars.
Book Synopsis International Macroeconomics in the Wake of the Global Financial Crisis by : Laurent Ferrara
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Download or read book Journal of Economic Literature written by and published by . This book was released on 2000 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How to Promote Economic Growth in the Euro Area by : J. Smets
Download or read book How to Promote Economic Growth in the Euro Area written by J. Smets and published by . This book was released on 2001 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: The conference was called to celebrate the 150th anniversary of the National Bank of Belgium, where many of contributors work. The purpose of the gathering was to identify the fundamental mechanisms underlying the process of economic growth. The seven papers, and ensuing discussions, consider some recent developments in growth in an open economy; knowledge, evidence from OECD countries on technology, and economic growth; fiscal policy and growth in the context of European integration; labor markets; a euro-area perspective on the role of the exchange rate; the contribution of monetary policy; and monetary union. Annotation copyrighted by Book News, Inc., Portland, OR
