Why Are Stabilizations Delayed

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Why are Stabilizations Delayed?

Author : Alberto Alesina
Publisher : London, Ont. : University of Western Ontario, Political Economy Research Group
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Why are Stabilizations Delayed? by : Alberto Alesina

Download or read book Why are Stabilizations Delayed? written by Alberto Alesina and published by London, Ont. : University of Western Ontario, Political Economy Research Group. This book was released on 1989 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: When a stabilization has significant distributional implications (as in the case of tax increases to eliminate a large budget deficit) different socio-economic groups will attempt to shift the burden of stabilization onto other groups. The process leading to a stabilization becomes a "war of attrition", with each group finding it rational to attempt to wait the others out. Stabilization occurs only when one group concedes and is forced to bear a disproportionate share of the burden of fiscal adjustment. We solve for the expected time of stabilization in a model of "rational" delay based on a war of attrition and present comparative statics results relating the expected time of stabilization to several political and economic variables. We also motivate this approach and its results by comparison to historical episodes

Why are Stabilizations Delayed?

Author : Alesina, Alberto
Publisher : London, Ont. : University of Western Ontario, Political Economy Research Group
ISBN 13 : 9780771412288
Total Pages : 0 pages
Book Rating : 4.4/5 (122 download)

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Book Synopsis Why are Stabilizations Delayed? by : Alesina, Alberto

Download or read book Why are Stabilizations Delayed? written by Alesina, Alberto and published by London, Ont. : University of Western Ontario, Political Economy Research Group. This book was released on 1990 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Political Economy of Reform

Author : Federico Sturzenegger
Publisher : MIT Press
ISBN 13 : 9780262194006
Total Pages : 402 pages
Book Rating : 4.1/5 (94 download)

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Book Synopsis The Political Economy of Reform by : Federico Sturzenegger

Download or read book The Political Economy of Reform written by Federico Sturzenegger and published by MIT Press. This book was released on 1998 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Federico Sturzenegger and Mariano Tommasi propose formal models to answer some of the questions raised by the recent reform experience of many Latin American and eastern European countries.

Monetary and Fiscal Policy: Politics

Author : Torsten Persson
Publisher : MIT Press
ISBN 13 : 9780262660884
Total Pages : 476 pages
Book Rating : 4.6/5 (68 download)

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Book Synopsis Monetary and Fiscal Policy: Politics by : Torsten Persson

Download or read book Monetary and Fiscal Policy: Politics written by Torsten Persson and published by MIT Press. This book was released on 1994 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first of two volumes on a theory of macroeconomic policy that analyzes which policies are credible or politically feasible. Instead of looking at policy as an end product, the contributors approach policy as an ongoing process of revised goals, changes in tactics, and political pressures. They consider what kinds of incentives within different institutional settings, drive policy-making and the behaviour of policy-makers. The approach explains why certain monetary and fiscal policies are implemented, and provides insights into situations that occur repeatedly in macroeconomic policy, such as the bias toward government deficits, partisan competition and central bank independence.

The Economics of Transition

Author : Egor Timurovich Gaĭdar
Publisher : MIT Press
ISBN 13 : 9780262072199
Total Pages : 1066 pages
Book Rating : 4.0/5 (721 download)

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Book Synopsis The Economics of Transition by : Egor Timurovich Gaĭdar

Download or read book The Economics of Transition written by Egor Timurovich Gaĭdar and published by MIT Press. This book was released on 2003 with total page 1066 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays discuss the economic policy problems that confront postcommunist countries. Most chapters focus on liberalization of the exchange rate and trade system, macroeconomic stabilization, and institutional reform.

Lessons of Economic Stabilization and Its Aftermath

Author : Banḳ Yiśraʼel
Publisher : MIT Press
ISBN 13 : 9780262023245
Total Pages : 472 pages
Book Rating : 4.0/5 (232 download)

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Book Synopsis Lessons of Economic Stabilization and Its Aftermath by : Banḳ Yiśraʼel

Download or read book Lessons of Economic Stabilization and Its Aftermath written by Banḳ Yiśraʼel and published by MIT Press. This book was released on 1991 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprises essays presented at a conference held in Jerusalem in 1990.

Crisis, Stabilization, and Economic Reform

Author : Michael Bruno
Publisher : Clarendon Press
ISBN 13 : 0191521566
Total Pages : 326 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis Crisis, Stabilization, and Economic Reform by : Michael Bruno

Download or read book Crisis, Stabilization, and Economic Reform written by Michael Bruno and published by Clarendon Press. This book was released on 1993-08-05 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book authoritatively considers the phenomenon of the severe economic crises of the 1970s and 1980s, as exemplified by the combination of high inflation and negative growth in Israel and Latin America. The author analyses the common characteristics of such processes and their possible cures–with a detailed first-hand account of Israeli stabilization policy, and a comparative policy-oriented analysis of Latin American reforms. Professor Bruno also calls on his experience to give a preliminary evaluation of recent stabilizations and reform attempts in several East European economies. The discussion of the theoretical underpinnings of `shock' treatments provides a good example for the blending of a number of disciplines: lessons of economic history; open economy monetary and macro theory; game-theoretic applications to the theory of economic policy design (concepts such as dynamic inconsistency, government reputation, and credibility); and the rationalization of incomes policy. The Clarendon Lectures in Economics were established in 1987. They consist of coherent sets of three or four lectures given by distinguished economists which are accessible to advanced undergraduates and also of interest to academics. Subjects vary from high theory and applications of theory to policy-oriented topics. Lecturers include Professors J.-M. Grandmont, David Kreps, Kenneth Arrow, Angus Deaton, Robert Schiller, and Oliver Hart.

The Political Economy of Inflation and Stabilization in Middle-income Countries

Author : Stephan Haggard
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 69 pages
Book Rating : 4./5 ( download)

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Book Synopsis The Political Economy of Inflation and Stabilization in Middle-income Countries by : Stephan Haggard

Download or read book The Political Economy of Inflation and Stabilization in Middle-income Countries written by Stephan Haggard and published by World Bank Publications. This book was released on 1990 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomic stability is most precarious, and stabilization most likely to be delayed, where the party system is fragmented or polarized.

Post-Stabilization Economics in Sub-Saharan Africa

Author : Mr.Shanaka J. Peiris
Publisher : International Monetary Fund
ISBN 13 : 1589066774
Total Pages : 407 pages
Book Rating : 4.5/5 (89 download)

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Book Synopsis Post-Stabilization Economics in Sub-Saharan Africa by : Mr.Shanaka J. Peiris

Download or read book Post-Stabilization Economics in Sub-Saharan Africa written by Mr.Shanaka J. Peiris and published by International Monetary Fund. This book was released on 2008-05-01 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mozambique is an economic success story in sub-Saharan Africa (SSA). Its remarkable achievements offer valuable lessons to other low-income countries in a post-stabilization economic phase, including how they can efficiently manage a scaling up of foreign aid aimed at poverty reduction. Of special interest to other sub-Saharan countries are the book's discussions of Mozambique's progress toward consolidating macroeconomic and financial stability, and the challenges it faces in ensuring long-term sustainability, creating a virtuous cycle of natural resource use, and implementing second-generation structural reforms to sustain its growth. This book also provides a summary of the most recent research on issues related to post-stabilization economics in SSA.

Fiscal Policy, Stabilization, and Growth

Author : Guillermo E. Perry
Publisher : World Bank Publications
ISBN 13 : 9780821370858
Total Pages : 350 pages
Book Rating : 4.3/5 (78 download)

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Book Synopsis Fiscal Policy, Stabilization, and Growth by : Guillermo E. Perry

Download or read book Fiscal Policy, Stabilization, and Growth written by Guillermo E. Perry and published by World Bank Publications. This book was released on 2007-10-19 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects of fiscal policy on growth and on macroeconomic volatility over the cycle. Important issues such as the composition of public expenditures (and its effects on growth), the ability of fiscal policy to stabilize cyclical fluctuations, and the currency composition of public debt were largely neglected. As a result, fiscal policy has often amplified cyclical volatility and dampened growth. 'Fiscal Policy, Stabilization, and Growth' explores the conduct of fiscal policy in Latin America and its consequences for macroeconomic stability and long-term growth. In particular, the book highlights the procyclical and anti-investment biases embedded in the region's fiscal policies, explores their causes and macroeconomic consequences, and asesses their possible solutions.

Post-Stabilization Politics in Latin America

Author : Carol Wise
Publisher : Rowman & Littlefield
ISBN 13 : 9780815796046
Total Pages : 324 pages
Book Rating : 4.7/5 (96 download)

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Book Synopsis Post-Stabilization Politics in Latin America by : Carol Wise

Download or read book Post-Stabilization Politics in Latin America written by Carol Wise and published by Rowman & Littlefield. This book was released on 2003-07-28 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last twenty years Latin America has seen a definitive movement toward civilian rule. Significant trade, fiscal, and monetary reforms have accompanied this shift, exposing previously state-led economies to the forces of the market. Despite persistent economic and political hardships, the combination of civilian regimes and market-based strategies has proved to be remarkably resilient and still dominates the region. This book focuses on the effects of market reforms on domestic politics in Latin America. While considering civilian rule as a constant, the book examines and compares domestic political responses in six countries that embraced similar packages of reforms in the 1980s—Argentina, Brazil, Chile, Mexico, Peru, and Venezuela. The contributors focus on how ambitious measures such as liberalization, privatization, and deregulation yielded mixed results in these countries and in doing so they identify three main patterns of political economic adjustment. In Argentina and Chile, the implementation of market reforms has gone hand in hand with increasingly competitive politics. In Brazil and Mexico, market reforms helped to catalyze transitions from entrenched authoritarian rule. Finally, in Peru and Venezuela, traditional political systems have collapsed and civilian rule has been repeatedly challenged. The contributors include Carol Wise (University of Southern California), Karen L. Remmer (Duke University), Carol Graham (Brookings Institution), Stefano Pettinato (United Nations Development Programme), Consuelo Cruz (Tufts University), Juan E. Corradi (New York University), Delia M. Boylan (Chicago Public Radio), Riordan Roett (Johns Hopkins University), Martín Tanaka (Institute for Peruvian Studies, Lima), and Kenneth M. Roberts (University of New Mexico).

Public Debt Management

Author : Rudiger Dornbusch
Publisher : Cambridge University Press
ISBN 13 : 9780521392662
Total Pages : 384 pages
Book Rating : 4.3/5 (926 download)

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Book Synopsis Public Debt Management by : Rudiger Dornbusch

Download or read book Public Debt Management written by Rudiger Dornbusch and published by Cambridge University Press. This book was released on 1990-11-30 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: As Europe proceeds towards economic and monetary union, fiscal convergence and the prospect of a common money are at the centre of discussion. This volume from the Centre for Economic Policy Research brings together theoretical, applied and historical research on the management of public debt and its implications for financial stability.

Contemporary Economic Issues

Author : D. Cohen
Publisher : Springer
ISBN 13 : 1349260843
Total Pages : 206 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis Contemporary Economic Issues by : D. Cohen

Download or read book Contemporary Economic Issues written by D. Cohen and published by Springer. This book was released on 2016-07-27 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive overview of current research in the field of trade, payments and debt. Grossman and Helpman provide a non-technical review of the literature on technological deteminants of trade. Thisse and Fujita discuss current work on the spatial configuration of economic activities. Robert Findlay tracks world trade from 1000 to 1750, while Robert Baldwin surveys the impact of international trading alliances. In his Presidential paper, the World Bank Vice-President Michael Bruno looks at the pattern of debt crises and economic recovery. The sustainability of external debt in Africa is examined by Daniel Cohen. Alberto Giovannini's argues the case for flexible exchange rates.

Economic Crises and Global Politics in the 20th Century

Author : Alexander Nützenadel
Publisher : Routledge
ISBN 13 : 1134928645
Total Pages : 200 pages
Book Rating : 4.1/5 (349 download)

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Book Synopsis Economic Crises and Global Politics in the 20th Century by : Alexander Nützenadel

Download or read book Economic Crises and Global Politics in the 20th Century written by Alexander Nützenadel and published by Routledge. This book was released on 2016-04-08 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the history of economic crises from the angle of international politics and its transformation throughout the 20th century. While political and economic debates in the wake of the present financial crisis are revolving around the question of how to create effective forms of global governance, historians have discovered a long tradition of international economic regulation that can be traced back to the late 19th century. In the global economy, sovereign defaults, banking crises and currency crashes have been recurrent phenomena. At the same time, alongside the growing globalization of commodity and capital markets, nation-states have introduced new forms of regulation both on the national and international level. The experience of economic crises has been an important driver behind numerous initiatives to foster global politics. The purpose of the book is to reconnect economic history with the perspectives of political economy and the history of international relations. It forms a dialogue between the disciplines that have been increasingly separated throughout the past decades. With first-rate economic historians and political economists writing for a wider audience, it simultaneously makes public debates and methods of recent cutting-edge research in economic history within a wider academic community. This book was originally published as a special issue of the European Review of History.

Policies for Growth

Author : Ms.Joaquín Muns
Publisher : International Monetary Fund
ISBN 13 : 9781557755179
Total Pages : 276 pages
Book Rating : 4.7/5 (551 download)

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Book Synopsis Policies for Growth by : Ms.Joaquín Muns

Download or read book Policies for Growth written by Ms.Joaquín Muns and published by International Monetary Fund. This book was released on 1995-09-28 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of papers delivered at a seminar, moderated by André Lara Resende, in Rio de Janeiro, Brazil, addresses the issues considered pertinent to the consolidation of stability, the recovery of growth, and the process of stabilization undertaken in the aftermath of the inflationary crisis in Latin American economies in the 1980s.

Deep Crises and Reform

Author : Michael Bruno
Publisher : World Bank Publications
ISBN 13 : 9780821336977
Total Pages : 44 pages
Book Rating : 4.3/5 (369 download)

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Book Synopsis Deep Crises and Reform by : Michael Bruno

Download or read book Deep Crises and Reform written by Michael Bruno and published by World Bank Publications. This book was released on 1996-01-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper was first presented as my address, as president, to the 1995 Congress of the International Economic Association in Tunis.

Economic Policy and the Transition to Democracy

Author : Gary McMahon
Publisher : Springer
ISBN 13 : 1349246425
Total Pages : 259 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis Economic Policy and the Transition to Democracy by : Gary McMahon

Download or read book Economic Policy and the Transition to Democracy written by Gary McMahon and published by Springer. This book was released on 2015-12-22 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 1980s a large number of Latin American countries reverted from military dictatorships to civilian democracies. In most cases the new democratic governments inherited an extremely precarious economic situation, which left little room to manoeuvre. This book analyzes the special problems that governments face in the formulation and implementation of economic policy after the restoration of democracy. In each of six cases - Argentina, Bolivia, Brazil, Chile, Paraguay, and Uruguay - an analysis is made of the difficulties encountered and the performance of the democratic governments.