performance, which combined simultaneously very high rates of growth and declining inflation, productivity stands high. The …

of macroeconomic policymaking in Bolivia since the 1952 Revolution. Great stress is put on the weakness of fiscal … characteristics of Bolivia's international trade, focusing both on structural features (e.g., the heavy dependence on a small number … the general lessons about ending high inflation that might be applied to other economies in the region. Chapter 8 …

By any standard, Bolivia's economic crisis in the 1980's has been extraordinary. Like its neighbors. Bolivia suffered … during 1984-85) suggests that internal factors as well as external shocks have been critical to Bolivia's poor economic … performance. One major theme of our work is that the recent economic crisis in Bolivia is a reflection of political and economic …

When countries attempt to stabilize annual inflation rates that are greater than 40 percent, the domestic stock market … appreciates by 24 percent on average. The present value of the long-run benefits to shareholders of reducing high inflation … statistically insignificant, if the pre-stabilization inflation rate is less than 40 percent. Stock market responses also help …

After the economic reforms that followed the National Revolution of the 1950s, Bolivia seemed positioned for sustained … and a fixed exchange rate policy during the 1970s led to a debt crisis that began in 1977. From 1977 to 1986, Bolivia lost … almost all the gains in GDP per capita that it had achieved since 1960. In 1986, Bolivia started to grow again, interrupted …

dramatic consequences, at least in the very short-run. Within a few months inflation was down to 1-2 percent a month, foreign …

In the late 1970s countries in Latin America's Southern Cone attempted to lower domestic inflation rates through the … appreciation may result.While unanticipated, permanent inflation changes are neutral in the paper,anticipated inflation is neutral …

Estimates of the cost of disinflation made before the recent reduction in the inflation rate varied widely. Estimates … reduction in the inflation rate. At one extreme it was argued thata resolute and credible monetary policy could reduce inflation …