Showing 1 - 10 of 247
This paper analyzes Latin America's experience with fiscal adjustment during the last decade. The paper discusses in detail how some countries -- most notably Argentina, Chile and Mexico -- were successfully able to eliminate their fiscal deficits in a relatively short period of time. Their...
Persistent link: https://www.econbiz.de/10012473457
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...
Persistent link: https://www.econbiz.de/10012475993
For the period 1959-1972 money growth in the United States was positively correlated with past inflation and negatively correlated with past unemployment, whereas for the period 1973-1984 this correlation pattern was reversed. International data, moreover, show that the eight largest western...
Persistent link: https://www.econbiz.de/10012477186
Persistent link: https://www.econbiz.de/10013480882
Persistent link: https://www.econbiz.de/10000112367
We investigate the resilience of CESEE countries during ECB monetary cycles after the entrance of ten countries to the EU in 2004. Undeniably, these countries have experienced a 'miracle' growth during the 2000s decade. However, several obstacles appeared following the global financial crisis...
Persistent link: https://www.econbiz.de/10015072898
Using comprehensive administrative data on Chilean firms, we examine whether credit lines and government-backed credit guarantees mitigated the impact of the large sudden stop event during the pandemic--the abrupt withdrawal of international capital. Our analysis employs a regression...
Persistent link: https://www.econbiz.de/10015171686
Persistent link: https://www.econbiz.de/10003608244
"We examine how financial expansion and contraction cycles affect the broader economy through their impact on 8 real economic sectors in a panel of 28 countries over 1960-2005, paying particular attention to large, or sharp, contractions and magnifying and mitigating factors. Overall, the...
Persistent link: https://www.econbiz.de/10011395532
This paper provides an explanation for the run-up of U.S. inflation in the 1960s and 1970s and the sharp disinflation in the early 1980s, which standard macroeconomic models have difficulties in addressing. I present a model in which rational policymakers learn about the behavior of the economy...
Persistent link: https://www.econbiz.de/10012467538