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.

Download or read book The Politics of Inflation and Economic Stagnation written by Leon Lindberg and published by Brookings Institution Press. This book was released on 1985-06-01 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt: The inflation of the 1970s represented the greatest peacetime disruption of the Western economies since the Depression. Even as inflation receded, the recession in its wake brought more joblessness than at any time since the 1930s. The governments of industrialized nations found that the economic policies they had developed since World War II no longer assured price stability or high employment. What are the lessons of over a decade of economic difficulty? In this conference volume, which focuses on aspects of the crisis that economists often presuppose to be beyond control, the authors analyze the political and social underpinning of inflation and recession. Part 1 places the economic problems of the 1970s in the historical context of postwar development and then compares economic and political science analyses of inflation. Part 2 examines how rivalries between social groups affect inflationary processes. One chapter draws on the history of Latin American inflation to suggest the conflicts in play. Two others weigh the role of labor and industry in the formation of economic policy. And another shows how rivalry between countries, like rivalry between classes at home, permitted inflation to rise. The chapters in part 3 contest the claim that big government or big labor causes inflation. Two studies emphasize that a high degree of public expenditure does not itself lead to inflation. Further contributions explore the role of central banks and subject such concepts as the political business cycle to critical analysis. Part 4 comprises case studies about macroeconomic policymaking in four nations: Italy, Germany, Japan, and Sweden. The studies reveal what institutional attributes rendered those countries resistant to inflation or vulnerable to economic setback. In the last part, the editors pull together the findings and lay out the contemporary political feasibility of alternative approaches to macroeconomic management.

Download or read book Political Business Cycles written by Thomas D. Willett and published by Duke University Press. This book was released on 1988 with total page 554 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A Pacific Research Institute for Public Policy book." Includes bibliographies and index.

Download or read book The Political Economy of Democratic Transitions written by Stephan Haggard and published by . This book was released on 1995 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 1970s there has been a widespread movement from authoritarian to democratic rule among developing countries, often occuring against a backdrop of severe economic crises and the adoption of market-oriented reforms. This book analyzes this relationship, addressing a variety of questions.

Download or read book Fragile Coalitions written by Joan M. Nelson and published by Transaction Publishers. This book was released on 1989-01-01 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Economic reform by Third World governments is usually portrayed as the product of outside pressure, especially from the International Monetary Fund (IMF) and World Bank. This welcome collection provides an important counter-perspective by putting domestic politics at center stage. Miles Kahler demonstrates that international institutions only rarely play an important role."--Orbis' "Joan Nelson and her collaborators have performed a valuable service for those concerned about the politics of reform by bringing together a series of informed and insightful essays that address clearly and concisely the difficult political dilemmas of economic adjustment."--Merilee S. Grindle,Economic Development and Cultural Change

Download or read book The Political Economy of the Asian Financial Crisis written by Stephan Haggard and published by Peterson Institute. This book was released on 2000 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study not only examines the countries most severely affected by the Asian financial crisis, but also draws lessons from those whose economies escaped the worst problems. The author focuses on the political economy of the crisis, emphasizing long-standing problems and crisis management tactics.

Download or read book The Political Economy of Inflation written by Fred Hirsch and published by Cambridge, Mass. : Harvard University Press. This book was released on 1978 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Beyond Inflation Targeting written by Gerald A. Epstein and published by Edward Elgar Publishing. This book was released on 2009 with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation targeting (IT) has become the sacred cow of central banking. But its suitability to developing nations remains contested. The contributors to this volume perform the valuable service of sketching out plausible, more development-friendly alternatives. They are to be commended in particular for avoiding a one-size-fits-all approach and paying close attention to the needs of specific countries. Their proposals range from relatively minor tinkering in IT to comprehensive overhaul. A common theme is the central role of the real exchange rate, which the central banks ignore at their economies peril. Dani Rodrik, Harvard University, US As the world economy is devastated by a virulent financial crisis and jobs are lost in scores, central bankers are increasingly questioned as to why they have failed to sustain stability and growth even though they told us all along that conquering inflation would be necessary and sufficient to do so while hoping to get a pat on the back for achieving a degree of price stability unprecedented in recent times. This book provides a lot of food for thought on why. It is a powerful critique of the orthodox obsession with inflation in neglect of the two deepseated problems of the unbridled market economy financial instability and unemployment. It is a must for all policy makers, notably in the developing world, and for the mainstream. Yilmaz Akyuz, formerly of the United Nations Conference on Trade and Development, Geneva, Switzerland This collective volume makes a compelling case for balancing the developmental and stabilization functions of central banks. In particular, the authors emphasize that, as practiced in many successful developing countries, competitive real exchange rates can be good for growth and employment generation, and should thus be a specific focus of central bank actions. The book is a must read for those looking for a more balanced framework for central bank policies. José Antonio Ocampo, Columbia University, US and former Under-Secretary-General of the United Nations for Economic and Social Affairs and Finance Minister of Colombia This book, written by an international team of economists, develops concrete, country specific alternatives to inflation targeting, the dominant policy framework of central bank policy that focuses on keeping inflation in the low single digits to the virtual exclusion of other key goals such as employment creation, poverty reduction and sustainable development. The book includes thematic chapters, including analyses of class attitudes toward inflation and unemployment and the gender impacts of restrictive monetary policy. Other chapters propose improved monetary frameworks for Argentina, Brazil, India, Mexico, the Philippines, South Africa, Turkey, and Vietnam. Policy frameworks that are explored include employment targeting, and targeting a stable and competitive real exchange rate. The authors also show that to reach a larger number of targets, including higher employment and stable inflation, central banks must use a larger number of instruments, including capital management techniques. This volume offers concrete, socially valuable alternatives that economists, policy makers, students and interested laypeople should consider before adopting one size fits all, often inadequate, policies that have become a virtual policy making fad.

Download or read book Monetary Policy and Macroeconomic Stabilization written by Ole Roste and published by Routledge. This book was released on 2017-09-08 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a fundamental review and critique of activist economic policies, this book is a unique contribution to classical political economy. "Monetary Policy and Macroeconomic Stabilization" is about macroeconomic stabilization policy, with emphasis on the value of a distinct national monetary policy to growth. Ole Bjorn Roste's argument is for public officials to restrain themselves in the pursuit of policy. As the author notes: when you know less, you should do less.The history of modern macroeconomics started in 1936 with the publication of Keynes' "General Theory of Employment, Interest, and Money". The problems of the Great depression of the 1930s paved the way for a change of focus, from the long run to economic fluctuations in the short run, and from nominal to real variables, such as unemployment and aggregate output.Keynes offered clear policy implications in tune with the times. Because economic adjustment was slow, waiting for the economy to recover by itself was irresponsible. Particularly fiscal policy was essential to return to high employment. Monetary policy could affect aggregate demand through Interest rates, but was less important. Roste discusses the role of monetary policy, starting out with the implications of the theory of optimum currency areas (OCAs). This is followed by estimates of the output loss associated with disinflation policy (the sacrifice ratio) for six OECD economies. Further, Roste models the dynamic adjustment to negative, local labor-market shocks, with particular relevance to Scandinavia, in a final section.The idea that governments should pursue stabilizing fiscal or monetary policies with regard to real variables is often taken for granted by the public, if not by economists. Among the reasons for skepticism, is the presence of differing views on how economies really work, that the state of a given economy becomes known only after a time lag, and that economic agents react to policy and expectations of policy. For these reasons, the effects of policy are generally uncertain. This book explains why the role of history is critical to the study of macroeconomics.p>

Download or read book The Political Economy of Prosperity written by Arthur M. Okun and published by Washington, Brookings Institution [1970]. This book was released on 1970 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Revised version of the text of a series of lectures on the economy and economic policy of the USA - covers the role of interest groups, sustained economic growth, proposals relating to taxation, the unemployment rate, the relationship between fiscal policy and monetary policy, problems of maintaining full employment, defence financing, inflation, stabilisation policy, the gross national product, etc. Bibliography.

Download or read book Hyperinflation and Stabilization in Postsocialist Economies written by Grzegorz W. Kołodko and published by Springer Science & Business Media. This book was released on 1992 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1 Stabilization programs - assumptions, background, implementation.- 2 Postsocialist economy and stabilization policy.- 3 Stabilization in Yugoslavia.- 4 Polish hyperinflation and stabilization 1989-1991.- 5 Stabilization in Viet Nam.- 6 Stabilization, transformation and growth. Comparative analysis.- Annexe Stabilization in Israel.- 1. Inflationary processes in Israel before 1985.- 2. Assumptions of the stabilization program.- 3. Initial results of the program.- 4. Evaluation of the first stage of the program.- 5. Sources of economic recession.- 6. Causes of the limited scale of inflation suppression.- 7. The costs of stabilization "anchored" on exchange rate.- 8. Attempt at program evaluation.- References.

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.

Download or read book The Politics of Inflation and Economic Stagnation written by Leon N. Lindberg and published by Brookings Institution Press. This book was released on 1985-01-01 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this conference volume, which focuses on aspects of the crisis that economists often presuppose to be beyond control, the authors analyze the political and social underpinning of inflation and recession.

Download or read book The Political Economy of Iraq written by Frank R. Gunter and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: This groundbreaking volume offers a comprehensive look at the current state of IraqÕs political economy in the aftermath of the US-led overthrow of Saddam Hussein in 2003. Frank R. Gunter describes the unique difficulties facing the modern Iraqi economy and provides detailed recommendations for fostering future economic growth and stability. The book begins with an overview of IraqÕs current political, economic, and social status, including discussions of real growth, unemployment, inflation, health, poverty, education, and gender issues. This is followed by a comprehensive look at what the author identifies as the three dominant characteristics of the political economy of Iraq: corruption, political instability, and petroleum. Using these foundational ideas as a springboard, the book then provides a detailed breakdown of the Iraqi economy by sector, as well as discussions of IraqÕs fiscal, monetary, and exchange rate policies. The final chapter identifies the major trends that will determine the course of future economic development in Iraq and provides insightful recommendations for encouraging positive economic growth. Offering the most comprehensive and timely discussion of IraqÕs economy to date, this critical volume will appeal to students and professors of international studies, political economy, and Middle East studies as well as anyone considering doing business in this rapidly changing economy.

Download or read book Stabilization of the Domestic and International Economy written by Karl Brunner and published by Amsterdam : North-Holland Publishing Company ; New York : distributor for the U.S.A. and Canada, Elsevier. This book was released on 1977 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compilation of research papers on national level and international aspects of economic policies for stabilization - discusses economic theories relating to business cycles, inflation and the steady state economy, wages indexation under uncertainty, structural unemployment and labour productivity of woman workers, social welfare under fixed and flexible exchange rates, eurodollars, petrodollars and world liquidity, etc. Graphs, references and statistical tables.

Download or read book A History of Underdevelopment and Political Economy of Inflation in Sri Lanka written by Dhanusha Gihan Pathirana and published by Springer Nature. This book was released on 2020-07-24 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a new conceptualisation of inflation in underdeveloped economies, through Sri Lanka’s historical experience. It outlines a general theory of nationalisms in their diverse manifestations across the world, within a historical perspective of capitalist development and underdevelopment. The book, therefore, seeks to capture the production mode holistically, within both its infrastructural and superstructural levels probing their interactions. The theoretical structure through which inflation is analysed synthesises the theory of unproductive labour and Marxian theory of prices of production with labour surplus theory of late Dr. S. B. D. De Silva in the context of underdevelopment. In this light, Professor David Laibman’s Allocation Problem is resolved within a Marxist framework to provide an operational significance to the theory and its application. In the same vein the book also provides a new theoretical interpretation of Sri Lanka’s historical development from the British period onwards through application of theories of capitalist development and surplus labour.

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.