Download or read book External Debt Budget Deficits and Disequilibrium Exchange Rates written by and published by . This book was released on 1986 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper investigates the sources of debt and debt difficulties for a group of Latin American countries. It is argued that external shocks -- oil, interest rates, world recession and the fall in real commodity prices -- cannot account by themselves for the problems. Budget deficits that accommodate terms of trade deterioration and disequilibrium exchange rates are central to a complete explanation. The paper documents that in Chile an extreme currency overvaluation led to a massive shift into imported consumer durables while in Argentina overvaluation in conjunction with financial instability led to large-scale capital flight. In the case of Brazil the budget deficit is the explanation for the growth in external indebtedness.The difference in the experience of the three countries reflects the difference in their openness to the world economy
Download or read book EXTERNAL DEBT BUDGET DEFICITS AND DISEQUILIBRIUM EXCHANGE RATES written by Rudiger W. DORNBUSCH (Rudi) and published by . This book was released on 1984 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Latin American Debt and the Adjustment Crisis written by Rosemary Thorp and published by Springer. This book was released on 1987-06-01 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dollars Debts and Deficits written by Rudiger Dornbusch and published by Mit Press. This book was released on 1986 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This interesting and provocative collection of essays addresses most if not all of the key current policy issues in open economy macroeconomics: the strong dollar, LDC debt problems, and deficit financing. Although these three areas involve widely different policy problems, Dornbusch brings a common political economy perspective to bear on the issues, giving the essays a coherent perspective and revealing that more than ever, modern macroeconomics is useful as a framework for active policy. Professionals interested in the world economy and students of international finance will appreciate the author's strong analytical approach and the clear, cogent defense of his viewpoints. Three chapters in the book's first part, Exchange Rate Theory and the Overvalued Dollar, cover the rise in the dollar, equilibrium and disequilibrium exchange rates, and flexible exchange rates and interdependence. Those in the second part, The Debt Problems of Less Developed Countries, present three case studies in overborrowing, and discuss the world debt problem from 1980 to 1984 and beyond, and what we have learned from stabilization policy in developing countries. A concluding part, Europe's Problems of Growth and Budget Deficits, takes up public debt and fiscal responsibility, and sound currency and full employment. Rudiger Dornbusch is Ford International Professor of Economics at MIT. Dollars, Debts, and Deficits is based on three related lectures he gave in 1984 at the University of Leuven in the Gaston Eyskens Lecture Series. Dornbusch is the editor with Mario Henrique Simonsen of Inflation, Debt, and Indexation, available in paperback from The MIT Press.
Download or read book Budget Deficits and the Current Account written by John T. Cuddington and published by . This book was released on 1984 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Se trata de explicar los efectos del deficit publico en la balanza de pagos por cuenta corriente, el tipo de cambio real y el nivel de renta. Para ello, se construye un modelo intertemporal de desequilibrio de una economia monetaria abierta con tipo de cambio flexible.
Download or read book The Balance of Payments Crisis and Adjustment Programmes in Central America written by V. Bulmer-Thomas and published by . This book was released on 1985 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book External Shocks Public Sector Disequilibrium and Crowding out in the Brazilian Economy 1970 1987 written by Paulo Cesar de Sousa Batista and published by . This book was released on 1990 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macroeconomics for Professionals written by Leslie Lipschitz and published by Cambridge University Press. This book was released on 2019-01-23 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding macroeconomic developments and policies in the twenty-first century is daunting: policy-makers face the combined challenges of supporting economic activity and employment, keeping inflation low and risks of financial crises at bay, and navigating the ever-tighter linkages of globalization. Many professionals face demands to evaluate the implications of developments and policies for their business, financial, or public policy decisions. Macroeconomics for Professionals provides a concise, rigorous, yet intuitive framework for assessing a country's macroeconomic outlook and policies. Drawing on years of experience at the International Monetary Fund, Leslie Lipschitz and Susan Schadler have created an operating manual for professional applied economists and all those required to evaluate economic analysis.
Download or read book Debt Deficits and Exchange Rates written by Helmut Reisen and published by Edward Elgar Publishing. This book was released on 1994-01-01 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'The collection of essays would provide an excellent supplement to course texts by emphasising the practical applications of theoretical ideas to contemporary international issues.' - Nick Snowden, The Economic Journal '. . . this volume provides an interesting collection of papers for those seeking a better understanding of the financial aspects of LDEs' relations with the rest of the world and, in particular, for those wishing to explore the vastly different experience with foreign borrowing of East Asia, on the one hand, and Latin America, on the other.' - Ross McLeod, Asian-Pacific Economic Literature Debt, Deficits and Exchange Rates presents recent work by Helmut Reisen on current international monetary problems in East Asia and Latin America. Written over the last four years, these papers are readily accessible and of immediate policy relevance.
Download or read book Country Studies Indonesia Korea Philippines Turkey written by Jeffrey Sachs and published by . This book was released on 1989 with total page 821 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Misalignment in Developing Countries written by Sebastian Edwards and published by Johns Hopkins University Press. This book was released on 1988 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article analyzes the theory of equilibrium real exchange rates and defines misalignment as a deviation of the real exchange rate (RER) from its equilibrium level. The role of macroeconomic policies is then analyzed under three alternative nominal exchange rate regimes: predetermined nominal exchange rates; floating nominal rates; and dual or black market nominal exchange rates. This discussion points out how inconsistent macroeconomic policies often lead to real exchange rate misalignment. Corrective measures, including nominal devaluation and several alternative approaches, are then evaluated.
Download or read book Theoretical and Policy Oriented Aspects of the External Debt Economics written by Chris Czerkawski and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past approach to the international debt crisis has been traditionally based on conventional banking principle in which debt had to be paid back in fuH and in time. International lending was a function of the perceived credit standing of debtor country and the return on investment (ROI). If debtor country run into difficulties and had problems with service payments - it was generally assumed that the debt-related expenditures were mismanaged. With economic stability and firm financial rules - the debt crisis was supposed to disappear after application of appropriate adjustment measures. However in the world of inconsistent lending criteria greater uncertainty and increased volatility of expectations - the problem has continued to get worse. At the beginning of the 1990s a number of countries are more indebted than at any other time in the past. Until mid 1980s extern al debt economics has been rather a disembodied concept for most economists and business leaders. The main reason for this neglect of one of the most important macroeconomic categories was difficulty of distinguishing terminologically and methodologically the domestic determinants of national expenditures from the external ones. Then there were conceptual problems in distinguishing the functional determinants of macroeconomic liquidity from external and domestic determinants of macro-economic solvency. Moreover many studies of the debt crisis were one-sided. Usually debt was seen as a 'white-black' phenomenon with debtor countries accusing creditor countries for causing the crisis and vice versa.
Download or read book An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub Saharan Africa written by Mr.Simeon Inidayo Ajayi and published by International Monetary Fund. This book was released on 1997-06-01 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: The general objective of this study is to analyze the external debt and debt burdens of the severely indebted sub-Saharan African countries, estimate the magnitude of capital flight from them, and relate the estimate of capital flight to some macroeconomic aggregates. The study also contains policy implications of international efforts to deal with the high levels of external debt in sub-Saharan Africa in conditions of extreme poverty, and stagnant and declining exports. It questions the theoretical foundation in which the external debt strategy has been based and offers solutions to the external debt problem.
Download or read book International Debt written by United States. Congress. Joint Economic Committee. Subcommittee on Economic Goals and Intergovernmental Policy and published by . This book was released on 1984 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Technical Bulletin written by Carlos A. Arnade and published by . This book was released on 1989 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Determinants and Systemic Consequences of International Capital Flows written by Mr.Timothy D. Lane and published by International Monetary Fund. This book was released on 1991-04-15 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growing integration of capital markets has strengthened incentives for greater international coordination of economic and financial policies. Structural changes in these financial market, however, may have undermined the effectiveness of monetary and fiscal policy and complicated market access by developing countries. These are among the findings of this study of capital flows in the 1970s and the 1980s.
Download or read book Economic Adjustment and Exchange Rates in Developing Countries written by Sebastian Edwards and published by University of Chicago Press. This book was released on 2007-12-01 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: In spite of the attention paid exchange rates in recent economic debates on developing countries, relatively few studies have systematically analyzed in detail the various ramifications of exchange rate policy in these countries. In this new volume from the National Bureau of Economic Research, leading economists use rigorous models to tackle various exchange rate issues, while also illuminating policy implications that emerge from their analyses. The volume, divided into four main sections, addresses: the role of exchange rates in stabilization programs and the adjustment process; the importance of exchange rate policy during liberalization reform in developing countries; exchange rate problems relevant and unique to developing countries, illustrated by case studies; and the problems defining, measuring, and identifying determinants of real exchange rates. Authors of individual papers examine the relation between commercial policies and exchange rates, the role of exchange rate policy in stabilization programs, the effectiveness of devaluations as a policy tool, and the interaction between exchange rate terms of trade an capital flow. This research will not only prove crucial to our understanding of the role of exchange rates in developing countries, but will clearly set the standard for future work in the field.
