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Inflation Stabilization with Incomes Policy Support : A Review of the Experience in Argentina, Brazil and Israel

Dornbusch, Rudiger - 1987

In 1985-86 Argentina, Brazil and Israel initiated programs of stabilization after episodes of high and sharply … programs in Argentina and Israel have now been in force for over a year and the more recent one in Brazil for half a year …, inertial inflation and the basics of monetary reform. We also review the actual stabilization experience in Argentina, Brazil …

Persistent link: https://www.econbiz.de/10012476916

Real Effects of Exchange Rate-Based Stabilization : An Analysis of Competing Theories

Rebelo, Sergio - 1995

This paper uses a unified analytical framework to assess, both qualitatively and quantitatively, the relevance of the different hypotheses that have been proposed to explain the real effects of exchange rate-based stabilizations. The four major hypotheses analyzed are: (i) the supply-side...

Persistent link: https://www.econbiz.de/10012473682

Open-Economy Inflation Targeting

Svensson, Lars E. O. - 2000

The paper extends previous analysis of closed-economy inflation targeting to a small open economy with forward-looking aggregate supply and demand with some microfoundations, and with stylized realistic lags in the different transmission channels for monetary policy. The paper compares targeting...

Persistent link: https://www.econbiz.de/10012471032

Theoretical Analysis Regarding a Zero Lower Bound on Nominal Interest Rates

McCallum, Bennett T. - 2000

This paper explores several issues concerning a possible zero lower bound (ZLB) including its theoretical rationale; the magnitude of effects of low sustained inflation on real interest rates; the validity of analyzing monetary policy in models with no monetary variables; and the dynamic...

Persistent link: https://www.econbiz.de/10012471090

Monetary Policy Issues for the Eurosystem

Svensson, Lars E.O. - 1999

The paper discusses the choice between inflation targeting and monetary targeting as a strategy for the Eurosystem, the actual strategy the Eurosystem announced in the fall of 1998, the framework for policy decisions appropriate for achieving the goals of the Eurosystem, the role of exchange...

Persistent link: https://www.econbiz.de/10012471610

The Science of Monetary Policy : A New Keynesian Perspective

Clarida, Richard - 1999

This paper reviews the recent literature on monetary policy rules. We exploit the monetary policy design problem within a simple baseline theoretical framework. We then consider the implications of adding various real world complications. Among other things, we show that the optimal policy...

Persistent link: https://www.econbiz.de/10012471647

Taylor Rules in a Limited Participation Model

Christiano, Lawrence J. - 1999

We use the limited participation model of money as a laboratory for studying the operating characteristics of Taylor rules for setting the rate of interest. Rules are evaluated according to their ability to protect the economy from bad outcomes such as the burst of inflation observed in the...

Persistent link: https://www.econbiz.de/10012471783

The Bolivian Hyperinflation and Stabilization

Sachs, Jeffrey - 1986

Chapter 1 gives a brief introduction to the Bolivian economy. Chapter 2 provides an overview of the political economy of macroeconomic policymaking in Bolivia since the 1952 Revolution. Great stress is put on the weakness of fiscal institutions in the face of heavy social and sectoral demands....

Persistent link: https://www.econbiz.de/10012476997

Generating a Sharp Disinflation : Israel 1985

Bruno, Michael - 1986

On July 1 the Israeli government adopted a comprehensive emergency program for stabilization and recovery which has had dramatic consequences, at least in the very short-run. Within a few months inflation was down to 1-2 percent a month, foreign exchange reserves were rising rapidly andin spite...

Persistent link: https://www.econbiz.de/10012477255

Stopping Hyperinflations Past and Present

Dornbusch, Rudiger - 1986

-27, Italy 1947 --and the two ongoing attempted stabilization in Israel and Argentina, with the aim of identifying general …

Persistent link: https://www.econbiz.de/10012477267

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