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Author: Ms.Carmen Reinhart
Publisher: International Monetary Fund
ISBN: 1498338380
Category : Business & Economics
Languages : en
Pages : 47
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Book Description
High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
Author: Ms.Carmen Reinhart
Publisher: International Monetary Fund
ISBN: 1498338380
Category : Business & Economics
Languages : en
Pages : 47
Get Book Here
Book Description
High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
Author: Nicholas Eberstadt
Publisher: Routledge
ISBN: 135147667X
Category : Political Science
Languages : en
Pages : 498
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Book Description
One third of the world's population today lives under governments that consider themselves to be Marxist-Leninist. In many of these places, severe poverty was endemic in the years before Communist authorities came to power. Communist governments claim to have a special understanding into and effectiveness in dealing with problems of poverty. Marxist-Leninist rulers have been in power for nearly thirty years in Cuba, nearly forty years in China, and over sixty-five years in the Soviet Union. How do the poor fare in such places today?Western intellectuals often assume there is an inevitable tradeoff between bread and freedom under communism. What populations lose in the way of civil and political rights, they gain in social guarantees that protect them against material hardship. In The Poverty of Communism, Nick Eberstadt challenges this assumption and shatters it. He shows that Communist governments in a wide variety of settings have been no more successful in attending to the material needs of the most vulnerable segments of the populations they govern than non-Communist governments against which they might most readily be compared. Indeed, measured by the health, literacy, and nutrition of their people, Communist governments may today be less effective in dealing with poverty than are non-Communist governments.The Poverty of Communism is a pathbreaking investigation. In a series of separate studies, Eberstadt analyzes the performance of Communist governments in the Soviet Union, Eastern Europe, China, and Cuba. This is the first scholarly effort to assess the record of Communist governments with respect to poverty in a detailed and comprehensive fashion. Well written, carefully argued, and reflecting a sweeping range of knowledge, The Poverty of Communism will be of interest to specialists in the countries investigated as well as those concerned with comparative economic and political development. Above all, it gives test
Author: M. A. Sreenivas
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 234
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Book Description
Comparison of the theoretical explanations of the price behaviour in India according to the inflationary gap approach, the quantity theory of money, and the cost push theory.
Author: Khetra Mohan Patnaik
Publisher:
ISBN:
Category : Monetary policy
Languages : en
Pages : 302
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Book Description
Author: British Museum. Department of Printed Books
Publisher:
ISBN:
Category : English imprints
Languages : en
Pages : 1362
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Book Description
Author: India. Taxation Enquiry Commission
Publisher:
ISBN:
Category : Taxation
Languages : en
Pages : 784
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Book Description
Author:
Publisher:
ISBN:
Category : India
Languages : en
Pages : 170
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Book Description
Author: Gokhale Institute of Politics and Economics
Publisher:
ISBN:
Category : India
Languages : en
Pages : 544
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Book Description
Author:
Publisher:
ISBN:
Category : India
Languages : en
Pages : 172
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Book Description
Author:
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 1364
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Book Description
Includes papers and proceedings of the annual meeting of the American Economic Association. Covers all areas of economic research.
