Disinflation And The Recession Now Versus Recession Later Hypothesis
Download Disinflation And The Recession Now Versus Recession Later Hypothesis full books in PDF, epub, and Kindle. Read online free Disinflation And The Recession Now Versus Recession Later Hypothesis ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Author | : Mr.Alexander W. Hoffmaister |
Publisher | : International Monetary Fund |
Total Pages | : 46 |
Release | : 1995-10-01 |
Genre | : Business & Economics |
ISBN | : 1451852215 |
Both analytical models and casual empiricism suggest that the timing of the recessionary costs associated with inflation stabilization in chronic inflation countries may depend on the nominal anchor which is used. Under money-based stabilization, the recession occurs at the beginning of the program, while under exchange rate-based stabilization the recession occurs later in the program. This paper provides a first attempt to formally test this hypothesis using a vector-autoregression model for Uruguay. The impulse response of output to different stabilization policies is broadly consistent with the “recession-now-versus-recession-later” hypothesis. The evidence also suggests, however, that the effectiveness of a monetary anchor in reducing inflation is hindered by the high degree of dollarization of the Uruguayan economy.
Author | : Aleksander W... Hoffmaister |
Publisher | : |
Total Pages | : 33 |
Release | : 1995 |
Genre | : |
ISBN | : |
Author | : Alexander W. Hoffmaister |
Publisher | : |
Total Pages | : 46 |
Release | : 2006 |
Genre | : |
ISBN | : |
Both analytical models and casual empiricism suggest that the timing of the recessionary costs associated with inflation stabilization in chronic inflation countries may depend on the nominal anchor which is used. Under money-based stabilization, the recession occurs at the beginning of the program, while under exchange rate-based stabilization the recession occurs later in the program. This paper provides a first attempt to formally test this hypothesis using a vector-autoregression model for Uruguay. The impulse response of output to different stabilization policies is broadly consistent with the quot;recession-now-versus-recession-laterquot; hypothesis. The evidence also suggests, however, that the effectiveness of a monetary anchor in reducing inflation is hindered by the high degree of dollarization of the Uruguayan economy.
Author | : Alexander W. Hoffmaister |
Publisher | : |
Total Pages | : 33 |
Release | : 1995 |
Genre | : |
ISBN | : |
Author | : Jonathan Kirshner |
Publisher | : Cornell University Press |
Total Pages | : 335 |
Release | : 2018-08-06 |
Genre | : Political Science |
ISBN | : 1501731629 |
Wherever there is money, there is money politics-a subject demanding ever greater attention at a time when monetary policies lead and the real economy follows. A principal defining characteristic of the contemporary global economy, Jonathan Kirshner contends, is the rise and preeminence of monetary phenomena—international financial crises, Central Bank Independence and inflation fighting, the creation of the euro, and monetary reform in emerging economies, to name only a few. Moreover, unlike most debates in political economy (such as those regarding trade policy), which are generally recognized as political, monetary phenomena and macroeconomic policies are typically represented as expressly apolitical. In Monetary Orders, a distinguished group of scholars explores the inescapable political origins of choices about money. The essays in Monetary Orders each address a specific issue or puzzle relating to money and its management. Their authors focus on markedly disparate cases but share a common observation: for most policy choices about money, market forces and economic logic can rule out certain options, but are indeterminate in explaining why one policy rather than another will be chosen. Ultimately, political factors are essential to explain fundamental and consequential choices about money.
Author | : International Monetary Fund. Research Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 208 |
Release | : 1996-01-01 |
Genre | : Business & Economics |
ISBN | : 1451947224 |
This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on the flexibility of the labor market and the evidence regarding the wage and employment effects of trade reform are discussed next. The last part of the paper identifies a variety of issues that may require further investigation.
Author | : International Monetary Fund |
Publisher | : |
Total Pages | : 20 |
Release | : 1996-06 |
Genre | : International finance |
ISBN | : |
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 124 |
Release | : 1999-09-24 |
Genre | : Business & Economics |
ISBN | : 9781557758606 |
A selective index of major research papers prepared by IMF staff in 1991-98.
Author | : John B. Taylor |
Publisher | : Elsevier |
Total Pages | : 600 |
Release | : 1999-12-13 |
Genre | : Business & Economics |
ISBN | : 9780444501585 |
Part 6: Financial Markets and the Macroeconomy. 19. Asset prices, consumption, and the business cycle (J.Y. Campbell). 20. Human behavior and the efficiency of the financial system (R.J. Shiller). 21. The financial accelerator in a quantitative business cycle framework (B. Bernanke, M. Gertler and S. Gilchrist). Part 7: Monetary and Fiscal Policy. 22. Political economics and macroeconomic policy (T. Persson, G. Tabellini). 23. Issues in the design of monetary policy rules (B.T. McCallum). 24. Inflation stabilization and BOP crises in developing countries (G.A. Calvo, C.A. Vegh). 25. Government debt (D.W. Elmendorf, N.G. Mankiw). 26. Optimal fiscal and monetary policy (V.V. Chari, P.J. Kehoe).
Author | : |
Publisher | : |
Total Pages | : 766 |
Release | : 1994 |
Genre | : Latin America |
ISBN | : |