Over the 1980s and 1990s, GDP growth had stagnated because of oil export price volatility and natural disasters, the sacrifice of capital formation to heavy external public debt service, and incomplete and uneven structural reform. The exchange rate depreciation that proved continually necessary...

The author describes a spread-sheet planning model to help determine the government deficit consistent with a policymaker's"vector"of principal macroeconomic objectives (including real GDP growth, inflation, exchange rate, and international reserve accumulation). The model focuses on the...

El ensayo que sigue fue escrito originalmente como documento a una reu- nión de cientfficos sociales que trataba la cuestión de la inflación, en Nueva York, marzo de 1980. Lo que motivó la redacción de este ensayo fue la per- sistencia impresionante en las conferencias de ciertos enfoques...

This book describes practical techniques to formulate multiannual macroeconomic projections for developing economies. The approach is broadly similar to that of well-known financial-programming ¡°models¡±, but some of the material, including solution procedures for the external and fiscal...

Under the August 1988"Primavera"Plan and the July 1989"Bunge y Born"Plan stabilization programs, the Argentine authorities sought to anchor the price level through an appreciated real exchange rate, which they sustained through policies that maintained high domestic interest rates. The public...