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This book examines the performance of the Brazilian economy since the Great Financial Crisis of 2007/2008 with focus on both the productive and financial dimensions, along with distributional and social issues. The book will bring to light the causes of the fast recovery over 2009-2010 as well...
Persistent link: https://www.econbiz.de/10012397733
This book examines the struggles of the Japanese economy over the last 30 years, analyzing in detail the formation of the huge economic bubble in the 1980s, its collapse at the beginning of the 1990s, and subsequent two decade long economic stagnation and chronic deflation, with the aim of...
Persistent link: https://www.econbiz.de/10012397380
Historical Changes of the Japanese Economy -- Recovery Period (Reforms, Social and Political Changes, and Economic Policy) -- Rapid Economic Growth -- Results of the Rapid Economic Growth: Positive Effects -- Results of the Rapid Economic Growth: Negative Effects or Distortions -- Bubble Economy...
Persistent link: https://www.econbiz.de/10013522817
We develop a framework to study the effects of policies of uncertain duration on consumption dynamics under both complete and incomplete markets. We focus on the dynamic implications of market incompleteness, specifically on the lack of state-contingent bonds. Two policies are considered: pure...
Persistent link: https://www.econbiz.de/10012472899
This book provides an in-depth analysis of neo-liberal and progressive economic reforms and policies implemented in Chile since the Pinochet dictatorship. The core thesis of the book is that there is not just 'one Chilean economic model', but that several have been in force since the coup of 1973
Persistent link: https://www.econbiz.de/10012053870
Based on a sample of 56 countries, we find that while fiscal policy in the G-7 countries appears to be broadly consistent with Barro's tax smoothing proposition, in developing countries government spending and taxes are highly procyclical (i.e., government spending rises and taxes fall during...
Persistent link: https://www.econbiz.de/10012471277
This study analyzes the adjustment to a fiscal reform in a dependent economy. It evaluates the economic factors that … credibility of the fiscal reform. It is shown that the absence of credibility may have major consequences on the adjustment …, because it will depress the magnitude of the private investment associated with the fiscal reform …
Persistent link: https://www.econbiz.de/10012476867
The Economic Recovery Tax Act of 1981 had one aspect that is unusually useful for economic analysis. It provided an example of a clear-cut announcement of future policy actions at specified dates.This provides an opportunity to apply recent advances in the analysis of expectations dynamics to...
Persistent link: https://www.econbiz.de/10012477293
Credit markets typically freeze in recessions: access to credit declines and the cost of credit increases. A conventional policy response is to rely on monetary tools to saturate financial markets with liquidity. Given limited space for monetary policy in the current economic conditions, we...
Persistent link: https://www.econbiz.de/10012479179
Brazil has had a long period of high inflation. It peaked around 100 percent per year in 1964, decreased until the first oil shock (1973), but accelerated again afterward, reaching levels above 100 percent on average between 1980 and 1994. This last period coincided with severe balance of...
Persistent link: https://www.econbiz.de/10012479377