This book looks at very high inflations, exemplified by those suffered by Argentina, Bolivia, Brazil, Israel, Mexico, and Peru in the eighties and by the Soviet Union today. The authors argue that a better grasp of high inflation processes is necessary in order for countries intricated in it to design stabilization strategies. The extremes of monetary instability can also give a clearer picture of the purpose that money and financial institutions serve under more normal circumstances, thus deepening our understanding of the benefits of monetary stability. This study will be of interest to...
This book looks at very high inflations, exemplified by those suffered by Argentina, Bolivia, Brazil, Israel, Mexico, and Peru in the eighties and by ...
Monetary Theory and Policy Experience offers a broad context for the question of why governments prefer to limit themselves to a specific inflation target. Academic specialists and senior officials of the European Central Bank, the OECK and national central banks look beyond inflation targeting as the goal of monetary policy. Nobel Laureate Robert Mundell, surveys the history and prospects of the sovereignty of the state over money, while Michael Bordo and Lars Jonung use data of fourteen industrialized countries over the past century to show relationships between fiscal and monetary...
Monetary Theory and Policy Experience offers a broad context for the question of why governments prefer to limit themselves to a specific inflation ta...
Since the inflationary 1970s, theoretical work on monetary policy has concentrated almost exclusively on price-level stabilization and the avoidance of nominal shocks.
Since the inflationary 1970s, theoretical work on monetary policy has concentrated almost exclusively on price-level stabilization and the avoidance o...
