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The Georgian Hyperinflation And Stabilization
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Book Synopsis The Georgian Hyperinflation and Stabilization by : Mr.Jian-Ye Wang
Download or read book The Georgian Hyperinflation and Stabilization written by Mr.Jian-Ye Wang and published by International Monetary Fund. This book was released on 1999-05-01 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper anlayzes the Georgian hyperinflation of 1993-94, which featured endogenous fiscal expenditures and the money supply, depreciation, and currency substitution. Hyperinflation was stopped by removing generalized consumer subsidies and tightening of monetary policy, and not by a sudden rush of credibility or imposition of an exchange rate anchor. A de facto exchange rate anchor served ex post as a vehicle for building credibility, which ensured a dramatic reversal of currency substitution when the currency reform was implemented. The paper also discusses the relatively rapid output recovery in Georgia.
Book Synopsis Modeling Inflation in Georgia by : Wojciech Maliszewski
Download or read book Modeling Inflation in Georgia written by Wojciech Maliszewski and published by International Monetary Fund. This book was released on 2003-11 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper explains the behavior of inflation in Georgia in the post-stabilization period. A long-run equation linking prices to money and the exchange rate, as well as a short-run, dynamic equation for inflation are estimated. The inflation equation is stable, points to a dominant role of the exchange rate in the behavior of inflation and shows a low persistence of inflation in Georgia. The equation explains well the behavior of inflation after the Russian crises, when inflation increased sharply but was quickly brought under control, as the National Bank of Georgia kept its monetary policy tight and the exchange rate stable.
Book Synopsis Inflation Targeting in Georgia by : Giorgi Bakradze
Download or read book Inflation Targeting in Georgia written by Giorgi Bakradze and published by International Monetary Fund. This book was released on 2007-08 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates whether Georgia is ready to adopt inflation targeting (IT), a monetary policy framework that several emerging markets have adopted recently. After reviewing selected prerequisites for successfully implementing IT, the paper focuses on whether one specific precondition is in place-an empirically stable monetary transmission mechanism. Building on a baseline VAR model, it presents several extensions to explore the various channels using causality tests, impulse responses, and variance decompositions. The paper finds that once the central bank overcomes some institutional and operational weaknesses and establishes a more reliable transmission mechanism, it could adopt IT over the medium term.
Book Synopsis Modeling Inflation in Georgia by : Wojciech S. Maliszewski
Download or read book Modeling Inflation in Georgia written by Wojciech S. Maliszewski and published by . This book was released on 2006 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper explains the behavior of inflation in Georgia in the post-stabilization period. A long-run equation linking prices to money and the exchange rate, as well as a short-run, dynamic equation for inflation are estimated. The inflation equation is stable, points to a dominant role of the exchange rate in the behavior of inflation and shows a low persistence of inflation in Georgia. The equation explains well the behavior of inflation after the Russian crises, when inflation increased sharply but was quickly brought under control, as the National Bank of Georgia kept its monetary policy tight and the exchange rate stable.
Book Synopsis Hyperinflation in Zimbabwe by : Tara McIndoe-Calder
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.
Book Synopsis Quantitative Easing as a Highway to Hyperinflation by : Imad A. Moosa
Download or read book Quantitative Easing as a Highway to Hyperinflation written by Imad A. Moosa and published by World Scientific. This book was released on 2014 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the topical issue of whether the current environment in the US and other major countries, where quantitative easing is used to boost the economy, is conducive to the emergence of hyperinflation. This is a controversial and highly debated issue. Using both economics and history, the author challenges the view that quantitative easing will not lead to hyperinflation and argues that hyperinflation, or at least high inflation, is likely to appear eventually. The book examines all the propositions put forward for and against the eventuality of hyperinflation in the US, using illustrations based on actual and simulated data. The analysis leads to the conclusion that the current fiscal position of the US government, particularly the levels of external debt and unfunded liabilities, will not be rectified without resorting to inflationary financing. The book would be useful not only for policy makers and economists but also for non-specialist observers.
Download or read book IMF Research Bulletin written by and published by . This book was released on 2000 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Oxford Encyclopedia of Economic History by : Joel Mokyr
Download or read book The Oxford Encyclopedia of Economic History written by Joel Mokyr and published by Oxford University Press. This book was released on 2003-10-16 with total page 2812 pages. Available in PDF, EPUB and Kindle. Book excerpt: What were the economic roots of modern industrialism? Were labor unions ever effective in raising workers' living standards? Did high levels of taxation in the past normally lead to economic decline? These and similar questions profoundly inform a wide range of intertwined social issues whose complexity, scope, and depth become fully evident in the Encyclopedia. Due to the interdisciplinary nature of the field, the Encyclopedia is divided not only by chronological and geographic boundaries, but also by related subfields such as agricultural history, demographic history, business history, and the histories of technology, migration, and transportation. The articles, all written and signed by international contributors, include scholars from Europe, Latin America, Africa, and Asia. Covering economic history in all areas of the world and segments of ecnomies from prehistoric times to the present, The Oxford Encyclopedia of Economic History is the ideal resource for students, economists, and general readers, offering a unique glimpse into this integral part of world history.
Book Synopsis Why Follow the Fed? Monetary Policy in Times of US Tightening by : Gonzalo Huertas
Download or read book Why Follow the Fed? Monetary Policy in Times of US Tightening written by Gonzalo Huertas and published by International Monetary Fund. This book was released on 2022-12-09 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: I conduct interviews with 32 Central Bankers from Emerging Markets and present five unifying themes that explain their behavior when reacting to a U.S. monetary tightening. I then estimate the impulse response functions of their two main monetary tools, the policy rate and foreign exchange interventions, to an increase in the U.S. rate, using the answers from the interviews as a guide for the best econometric specification. I find that most Central Banks react to a U.S. tightening by raising domestic rates, regardless of the exchange rate regime, but their reasons for doing so vary – from controlling inflation to preventing capital outflows.
Book Synopsis Economic Management in a Hyperinflationary Environment by : George Kararach
Download or read book Economic Management in a Hyperinflationary Environment written by George Kararach and published by Oxford University Press. This book was released on 2016 with total page 575 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides a political economy analysis of leadership and economic management in crises in developing economies based on Zimbabwe's experience.
Book Synopsis Modeling Inflation in Georgia by : Wojciech Maliszewski
Download or read book Modeling Inflation in Georgia written by Wojciech Maliszewski and published by International Monetary Fund. This book was released on 2003-11-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper explains the behavior of inflation in Georgia in the post-stabilization period. A long-run equation linking prices to money and the exchange rate, as well as a short-run, dynamic equation for inflation are estimated. The inflation equation is stable, points to a dominant role of the exchange rate in the behavior of inflation and shows a low persistence of inflation in Georgia. The equation explains well the behavior of inflation after the Russian crises, when inflation increased sharply but was quickly brought under control, as the National Bank of Georgia kept its monetary policy tight and the exchange rate stable.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :9781557759801 Total Pages :144 pages Book Rating :4.7/5 (598 download)
Book Synopsis Research Activities of the IMF, January 1991-December 1999 by : International Monetary Fund
Download or read book Research Activities of the IMF, January 1991-December 1999 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2000-01-01 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research activity in the IMF emphasizes the links between the organization's policy and operational concerns. The main objectives of research is IMF staff understanding of policy and operational issues relevant to the institution, and to improve the analytical quality of the work prepared for management and the Executive Board and the advice provided to member countries. The scope of research in the IMF is defined by the purposes and functions of the institution. In order to foster innovation and ensure quality control, the IMF makes much of its research available outside the institution and encourages staff to interact with academia and other research organizations through conferences, seminars, and occasional joint research projects. The visiting scholar’s program has also enhanced the quality of research done in the IMF. This program brings in leading members of the economics profession from around the world to assist in the preparation of papers for the Executive Board and to conduct research on IMF-related issues.
Book Synopsis Unravelling The Persistence of Dollarization by : Ia Eradze
Download or read book Unravelling The Persistence of Dollarization written by Ia Eradze and published by Taylor & Francis. This book was released on 2023-06-22 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume engages with the roots, dimensions, and implications of foreign currency domination in states with a national currency. Referred to as unofficial dollarization in literature, this is a worldwide phenomenon among developing countries and has a long history. This monograph provides a political economic analysis of dollarization in Georgia and is structured around three themes: the genesis of dollarization (1991–2003), the persistence of dollarization (2003–12) and the politicization of dollarization (2012–19). The case of Georgia is especially representative of the post-socialist transition states, but also has wider applicability. A high level of dollarization is a significant barrier to economic growth, macroeconomic and political stability, functional monetary policy, as well as social welfare. The Covid-19 crisis and the increasing debt of developing countries in foreign currency exacerbate dollarization-related vulnerabilities for these economies. This book will be of interest to postgraduate students in global/comparative political economy, development economics or transition economies, researchers in monetary sovereignty, central banking, exchange rate policies, currency hierarchy, money, financialization, and policy makers in dollarized countries and global institutions.
Book Synopsis The Encyclopedia of Money by : Larry Allen
Download or read book The Encyclopedia of Money written by Larry Allen and published by Bloomsbury Publishing USA. This book was released on 2009-10-15 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive introductory resource with entries covering the development of money and the functions and dysfunctions of the monetary and financial system. The original edition of The Encyclopedia of Money won widespread acclaim for explaining the function—and dysfunction—of the financial system in a language any reader could understand. Now a decade later, with a more globally integrated, market-oriented world, and with consumers trying to make sense of subprime mortgages, credit default swaps, and bank stress tests, the Encyclopedia returns in an expanded new edition. From the development of metal and paper currency to the ongoing global economic crisis, the rigorously updated The Encyclopedia of Money, Second Edition is the most authoritative, comprehensive resource on the fundamentals of money and finance available. Its 350 alphabetically organized entries—85 completely new to this edition—help readers make sense of a wide range of events, policies, and regulations by explaining their historical, political, and theoretical contexts. The new edition focuses most intently on the last two decades, highlighting the connections between the onrush of globalization, the surging stock market, and various monetary and fiscal crises of the 1990s, as well as developments, scandals, and pocketbook issues making headlines today.
Book Synopsis Monetary Regimes and Inflation by : Peter Bernholz
Download or read book Monetary Regimes and Inflation written by Peter Bernholz and published by Edward Elgar Publishing. This book was released on 2015-04-30 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring the characteristics of inflations and comparing historical cases from Roman times up to the modern day, this book provides an in depth discussion of the subject. It analyses the high and moderate inflations caused by the inflationary bias of
Book Synopsis Central and Eastern Europe in Transition by : Frank H. Columbus
Download or read book Central and Eastern Europe in Transition written by Frank H. Columbus and published by Nova Biomedical Books. This book was released on 2002 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central and Eastern Europe present more than a trivial challenge to the Developed Nations of the world as well as to themselves. Will they represent new markets, new sources of low-cost labour, or populations taking every action and avenue conceivable to emigrate to the Developed Nations? Will they be integrated into the Western economies and political structures or lose patience and wrap themselves into defensive postures and pose threats to the Developed Nations? This series is intended to present current analysis of political and economic developments and trends in this crucial part of the world.
Book Synopsis Banking Crises in Transition Economies by : Helena Tang
Download or read book Banking Crises in Transition Economies written by Helena Tang and published by . This book was released on 2000 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: How 12 transition economies dealt with banking crises.
