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

Michael Bruno - Crisis, Stabilization, and Economic Reform: Therapy by Consensus
Publisher: Oxford University Press, USA | 1993-09-30 | ISBN: 0198286635 | File type: PDF | 320 pages | 5.82 mb

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 cureswith 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 quot;shockquot; 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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