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Economics/Finances Michael Bruno - Crisis, Stabilization, and Economic Reform: Therapy by Consensus

Posted on 2010-04-01




Name:Economics/Finances Michael Bruno - Crisis, Stabilization, and Economic Reform: Therapy by Consensus
ASIN/ISBN:0198286635
Language:English
File size:5.82 Mb
Publisher: Oxford University Press, USA
Publish Date: 1993-09-30
ISBN: 0198286635
File Type: PDF
Pages: 320 pages
File Size: 5.82 MB
   Economics/Finances Michael Bruno - Crisis, Stabilization, and Economic Reform: Therapy by Consensus

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Michael Bruno - Crisis, Stabilization, and Economic Reform: Therapy by Consensus

This book examines the phenomenon of the high inflation processes of the 1970s and 1980s as exemplified by Argentina, Brazil, and Israel. It explores the common characteristics of such processes and their possible cures--with some emphasis on the lessons of the Israeli experience in respect of the role of incomes policy and the political economy of stabilization. The discussion of the theoretical underpinnings of "shock" treatments provides a good example for the blending of a number of disciplines: lessons of economic history, open economy monetary and macro theory, game-theory applications to economic policy design (concepts such as dynamic inconsistency, government reputation, and credibility) and the rationalization of incomes policy.

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