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Author :
Publisher :
ISBN 13 :
Total Pages : 10 pages
Book Rating : 4.:/5 (933 download)
Download or read book Conditions for Hyperinflation and Stabilization written by and published by . This book was released on 1992 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gail E. Makinen
Publisher :
ISBN 13 : 9781941801024
Total Pages : 244 pages
Book Rating : 4.8/5 (1 download)
Download or read book Studies in Hyperinflation and Stabilization written by Gail E. Makinen and published by . This book was released on 2013-10 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gail produced a sequence of fascinating studies that succeed in coaxing orderly patterns and basic macroeconomic forces at work in the midst of what at first glance seems to have been chaos. - From the foreword by Thomas J. Sargent, co-recipient of the 2011 Nobel Prize in Economics The often terrible economic and political costs of hyperinflation have made it a topic of enduring interest for economists and public alike. In this book, Gail Makinen and his coauthors examine 20th century hyperinflations in China, Greece, Hungary, and Taiwan, plus high inflations in South Korea and South Vietnam. How did they happen? What were the consequences? How did they end? By pulling the episodes together, the book throws light on common patterns of error and success in dealing with hyperinflation. In the preface and the postscript, the authors discuss the lessons of these episodes and whether hyperinflation is a realistic possibility in the leading economies today. ABOUT THE AUTHOR AND COAUTHORS Gail E. Makinen is Adjunct Professor at the Georgetown McCourt School of Public Policy. Previously he was a Specialist in Economic Policy at the Congressional Research Service of the Library of Congress and Principal Macroeconomist for the General Accounting Office in Washington, D.C. William A. Bomberger is Associate Professor of Economics in the Warrington College of Business at the University of Florida. G. Thomas Woodward, now retired, was most recently Assistant Director for Tax Analysis with the Congressional Budget Office in Washington D.C. The late Robert B. Anderson was formerly a macroeconomist at the Office of Management and Budget in Washington, D.C. The late Jarvis M. Babcock taught economics at Oberlin College.
Author : Steven Benjamin Webb
Publisher : Oxford University Press, USA
ISBN 13 :
Total Pages : 186 pages
Book Rating : 4.F/5 ( download)
Download or read book Hyperinflation and Stabilization in Weimar Germany written by Steven Benjamin Webb and published by Oxford University Press, USA. This book was released on 1989 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tracing the links between the monetary phenomena of the post-World War I German inflation and its political roots, this study provides a non-technical explanation of the economics of inflation and explores the political events and institutions that contributed to the Weimar Republic's economic difficulties. Webb discusses such topics as Reichsbank credit and monetary policy; output and unemployment; government revenue and spending; capitalism, democracy, and reparations; and the political economy of Reichsbank policy.
Author : Michael D. Bordo
Publisher : University of Chicago Press
ISBN 13 : 0226066959
Total Pages : 545 pages
Book Rating : 4.2/5 (26 download)
Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : G.W Kolodko
Publisher : Springer Science & Business Media
ISBN 13 : 940113894X
Total Pages : 200 pages
Book Rating : 4.4/5 (11 download)
Download or read book Hyperinflation and Stabilization in Postsocialist Economies written by G.W Kolodko and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : He Liping
Publisher : Routledge
ISBN 13 : 1351361880
Total Pages : 330 pages
Book Rating : 4.3/5 (513 download)
Download or read book Hyperinflation written by He Liping and published by Routledge. This book was released on 2017-10-03 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1970s when the world was experiencing an "age of inflation", a great volume of academic research about hyperinflation has been conducted. However, it is also true that parrot-like superficial talks abound, without questioning the economic, political and social foundations existing underneath the economic phenomenon. Based on research results of contemporary economists, media reports and historical works, this book will be the most comprehensive narrative of all major events of hyperinflation worldwide from the turn of the first millennium to the mid-2010s. Firstly, it gives a brief illustration of the basic concepts of hyperinflation, starting with the definitions and price measurement. Then it traces and analyzes all major episodes of hyperinflation that occurred over the past two thousand years or so, from the earliest incidence to the four tidal waves in the 20th century, and to the three latest episodes in the 21st century. Using basic concepts in modern finance such as indexation and dollarization, this book explains why hyperinflation in some countries could explode into astronomical levels, while rhythms of hyperinflation in the 20th century world are in resonance of megatrends in world economy and politics. Finally, this book underscores the importance of policy making, institutional building and international relations in the process of hyperinflation and stabilization. Scholars and students studying money and finance, economic history, international finance and economics will be attracted by this book.
Author : Jose Saboin
Publisher : International Monetary Fund
ISBN 13 : 1484385381
Total Pages : 46 pages
Book Rating : 4.4/5 (843 download)
Download or read book The Modern Hyperinflation Cycle: Some New Empirical Regularities written by Jose Saboin and published by International Monetary Fund. This book was released on 2018-12-07 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a database of up to 62 variables for 196 countries over 57 years, a hyperinflation cycle has been characterized to propose a broader setting of stylized facts. Beyond the usual facts, the findings in this paper contribute to the literature of modern hyperinflations in that these cycles occur in contexts where there are (i) depressed economic freedoms, (ii) deteriorated socioeconomic conditions and rule of law, as well as (iii) high levels of domestic conflictivity and government instability. Despite social infraestructure factors improve during stabilization, they keep being substantially lower than the respresentative non-hyperinflation country, suggesting an important role for them in the occurrence of modern hypeinflations. Finally, the role of international financial assistance in stabilization was studied, noting that (i) a clear majority of hyperinflation countries used it, further improving their (ii) economic freedoms, and allowing themselves (iii) greater fiscal flexibility and (iv) more exchange rate stability.
Author : Tara McIndoe-Calder
Publisher : Springer Nature
ISBN 13 : 3030310159
Total Pages : 122 pages
Book Rating : 4.0/5 (33 download)
Download or read book Hyperinflation in Zimbabwe written by Tara McIndoe-Calder and published by Springer Nature. This book was released on 2019-11-16 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the hyperinflation in Zimbabwe in the 2000s. The authors present a full description of the Zimbabwean hyperinflation in its relevant economic, historical and political context. They address parallels with other hyperinflations, discuss the economics of hyperinflation in general and of the Zimbabwean hyperinflation in particular, and provide a money demand estimation using a new dataset. The study concludes with several policy lessons. This book will be of interest to researchers in both social sciences and the humanities, as well as practitioners and policy-makers in development economics, and those in the banking industry.
Author : World Institute for Development Economics Research
Publisher : MIT Press
ISBN 13 : 9780262022798
Total Pages : 452 pages
Book Rating : 4.0/5 (227 download)
Download or read book Inflation Stabilization written by World Institute for Development Economics Research and published by MIT Press. This book was released on 1988 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Jutta Maute
Publisher : Peter Lang Publishing
ISBN 13 :
Total Pages : 296 pages
Book Rating : 4.:/5 (318 download)
Download or read book Hyperinflation, Currency Board, and Bust written by Jutta Maute and published by Peter Lang Publishing. This book was released on 2006 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally presented as the author's thesis (doctoral)--Universiteat Hohenheim, 2006.
Author : Andrés Solimano
Publisher : Cambridge University Press
ISBN 13 : 1108485049
Total Pages : 241 pages
Book Rating : 4.1/5 (84 download)
Download or read book A History of Big Recessions in the Long Twentieth Century written by Andrés Solimano and published by Cambridge University Press. This book was released on 2020-02-20 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the array of financial crises, slumps, depressions and recessions that happened around the globe during the twentieth century.
Author : Charles Freedman
Publisher : International Monetary Fund
ISBN 13 : 145187233X
Total Pages : 27 pages
Book Rating : 4.4/5 (518 download)
Download or read book Why Inflation Targeting? written by Charles Freedman and published by International Monetary Fund. This book was released on 2009-04-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the second chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say." We begin by discussing the costs of inflation, including their role in generating boom-bust cycles. Following a general discussion of the need for a nominal anchor, we describe a specific type of monetary anchor, the inflation-targeting regime, and its two key intellectual roots-the absence of long-run trade-offs and the time-inconsistency problem. We conclude by providing a brief introduction to the way in which inflation targeting works.
Author : Ben S. Bernanke
Publisher : University of Chicago Press
ISBN 13 : 0226044734
Total Pages : 469 pages
Book Rating : 4.2/5 (26 download)
Download or read book The Inflation-Targeting Debate written by Ben S. Bernanke and published by University of Chicago Press. This book was released on 2007-11-01 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past fifteen years, a significant number of industrialized and middle-income countries have adopted inflation targeting as a framework for monetary policymaking. As the name suggests, in such inflation-targeting regimes, the central bank is responsible for achieving a publicly announced target for the inflation rate. While the objective of controlling inflation enjoys wide support among both academic experts and policymakers, and while the countries that have followed this model have generally experienced good macroeconomic outcomes, many important questions about inflation targeting remain. In Inflation Targeting, a distinguished group of contributors explores the many underexamined dimensions of inflation targeting—its potential, its successes, and its limitations—from both a theoretical and an empirical standpoint, and for both developed and emerging economies. The volume opens with a discussion of the optimal formulation of inflation-targeting policy and continues with a debate about the desirability of such a model for the United States. The concluding chapters discuss the special problems of inflation targeting in emerging markets, including the Czech Republic, Poland, and Hungary.
Author : Philip Haslam
Publisher : Penguin UK
ISBN 13 : 0143531638
Total Pages : 253 pages
Book Rating : 4.1/5 (435 download)
Download or read book When Money Destroys Nations written by Philip Haslam and published by Penguin UK. This book was released on 2014-09-30 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the financial crisis of 2008, the major governments of the world have resorted to printing large amounts of money to pay national debts and bail out banks. The warning signs are clear, and the collapse of the Zimbabwean dollar after years of rampant money printing is a frightening example of what lies in store for world economies if painful reform is not executed. When Money Destroys Nations tells the gripping story of the disintegration of the once-thriving Zimbabwean economy and how ordinary people survived in turbulent circumstances. Analysing this case within a global context, Philip Haslam and Russell Lamberti investigate the causes of hyperinflation and draw ominous parallels between Zimbabwe and the world's developed economies. The looming currency crises and hyperinflation in these major economies, particularly the United States, have the potential to turn the current world order upside down. This story of how money destroys nations holds lessons that cannot be ignored.
Author : Robert E. Hall
Publisher : University of Chicago Press
ISBN 13 : 0226313255
Total Pages : 302 pages
Book Rating : 4.2/5 (263 download)
Download or read book Inflation written by Robert E. Hall and published by University of Chicago Press. This book was released on 2009-05-15 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents the latest thoughts of a brilliant group of young economists on one of the most persistent economic problems facing the United States and the world, inflation. Rather than attempting an encyclopedic effort or offering specific policy recommendations, the contributors have emphasized the diagnosis of problems and the description of events that economists most thoroughly understand. Reflecting a dozen diverse views—many of which challenge established orthodoxy—they illuminate the economic and political processes involved in this important issue.
Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
ISBN 13 : 1451956029
Total Pages : 229 pages
Book Rating : 4.4/5 (519 download)
Download or read book IMF Staff Papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1963-01-01 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses effects of inflation on economic development. A mild inflation may well encourage little, or no, evasion of the “inflation tax.” On the other hand, a strong inflation, and frequently a mild one also, will lead to community reactions which have effects like those of widespread tax evasion. A development policy may have wider aims than the encouragement of a high level of investment. Inflation has two effects on the desire for liquidity, which are related to the two basic reasons why individuals and businesses wish to hold liquid assets—the speculative and precautionary motives. Inflation increases the value of effective liquidity, thereby raising the community's desire for it, but it makes the most generally accepted store of liquidity unacceptable sources of protection. The control of inflation is only one of the problems facing a government wishing to encourage rapid economic development. The fight against illiteracy, the reform of bureaucratic practices, the building of basic sanitary facilities for the eradication of endemic diseases, the substitution of competitive for monopolistic trade practices, the encouragement of a widespread spirit of entrepreneurship, and the creation of an adequate amount of social capital, may be important prerequisites for rapid growth.
Author : Mr.Carlos A. Végh Gramont
Publisher : International Monetary Fund
ISBN 13 : 1451946724
Total Pages : 72 pages
Book Rating : 4.4/5 (519 download)
Download or read book Stopping High Inflation written by Mr.Carlos A. Végh Gramont and published by International Monetary Fund. This book was released on 1991-11-01 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
