SHORTAGE, REPRESSED INFLATION, AND DISTORTED GROWTH: A GENERAL DISEQUILIBRIUM MODEL OF CENTRALLY PLANNED ECONOMIES. PDF Download
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Author: Xin Zhang
Publisher:
ISBN:
Category :
Languages : en
Pages : 138
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Book Description
shortage is proved to be dynamically inconsistent; (4) the severity of repressed inflation in CPEs can be theoretically examined; and (5) the national incomes claimed in CPEs is shown to be exaggerated by their overestimating the value of the goods with little utilities.
Author: Xin Zhang
Publisher:
ISBN:
Category :
Languages : en
Pages : 138
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Book Description
shortage is proved to be dynamically inconsistent; (4) the severity of repressed inflation in CPEs can be theoretically examined; and (5) the national incomes claimed in CPEs is shown to be exaggerated by their overestimating the value of the goods with little utilities.
Author: Hsin Chang
Publisher:
ISBN:
Category :
Languages : en
Pages : 124
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Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 124
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Book Description
Author: Ha-Joon Chang
Publisher: Springer
ISBN: 134923916X
Category : Business & Economics
Languages : en
Pages : 447
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Book Description
The mainstream view of the way in which best to transform the communist economies was that there should be a rapid transition to a free market economy and political democracy. The articles in this book challenge this view. They do so from the standpoint of economic and political theory, and from an evaluation of the comparative experience of different reforming countries in Europe and Asia. This book represents the first systematic attempt to try to explain the dramatic contrast in outcome between reforming countries that have pursued comprehensive system reform and those that have pursued cautious, experimental strategies.
Author: David L. Shambaugh
Publisher: Routledge
ISBN: 1315484552
Category : Social Science
Languages : en
Pages : 451
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Book Description
Examines the historical evolution of contemporary China studies in the United States, reflecting the growth and maturation of the field since the Communist Party seized power in 1949.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451956029
Category : Business & Economics
Languages : en
Pages : 229
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Book Description
This paper discusses effects of inflation on economic development. A mild inflation may well encourage little, or no, evasion of the “inflation tax.” On the other hand, a strong inflation, and frequently a mild one also, will lead to community reactions which have effects like those of widespread tax evasion. A development policy may have wider aims than the encouragement of a high level of investment. Inflation has two effects on the desire for liquidity, which are related to the two basic reasons why individuals and businesses wish to hold liquid assets—the speculative and precautionary motives. Inflation increases the value of effective liquidity, thereby raising the community's desire for it, but it makes the most generally accepted store of liquidity unacceptable sources of protection. The control of inflation is only one of the problems facing a government wishing to encourage rapid economic development. The fight against illiteracy, the reform of bureaucratic practices, the building of basic sanitary facilities for the eradication of endemic diseases, the substitution of competitive for monopolistic trade practices, the encouragement of a widespread spirit of entrepreneurship, and the creation of an adequate amount of social capital, may be important prerequisites for rapid growth.
Author: Peter B. Kenen
Publisher: Princeton University Press
ISBN: 0691231133
Category : Business & Economics
Languages : en
Pages : 566
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Book Description
Drawing together new papers by some of today's leading figures in international economics and finance, Understanding Interdependence surveys the current state of knowledge on the international monetary system and, by implication, defines the research horizon for the future. Covering topics including the behavior of exchange rates, the choice of exchange-rate regime, current-account adjustment in classical and Keynesian models, the extent and effects of capital mobility, international debt, the stabilization and reform of the formerly planned economies, European monetary union, and international policy coordination, the book underscores the importance of these subjects and identifies lessons for policymakers. The contributors to the volume are Michael Bruno, Ralph C. Bryant, Richard N. Cooper, Michael P. Dooley, Barry Eichengreen, Stanley Fischer, Charles A. E. Goodhart, Peter Hooper, Peter B. Kenen, Paul R. Krugman, Henri Lorie, Jaime Marquez, Ronald I. McKinnon, Michael Mussa, Maurice Obstfeld, John Odling-Smee, Assaf Razin, Dani Rodrik, Mark P. Taylor, and John Williamson.
Author: H.K. Charlesworth
Publisher: Routledge
ISBN: 1136520090
Category : Business & Economics
Languages : en
Pages : 130
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Book Description
'It provides the best complete discussion I know of the economics of repressed inflation' F.W. Paish. The Economics of Repressed Inflation is a micro-economic analysis of the effects of a partially controlled inflation in a peacetime economy. This analysis suggests that the combination of inflationary pressures and the control of consumption has economic effects on the price level and on the distribution of resources which may be as serious for the economy as the more widely recognized effects of an uncontrolled inflation.
Author: Jan Winiecki
Publisher: Routledge
ISBN: 1136668225
Category : Business & Economics
Languages : en
Pages : 239
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Book Description
The Soviet Union and Eastern Europe provide unique examples of large-scale relatively highly developed centrally planned economies. In the 1980s economists in both the East and West began to focus with increasingly critical attention on the economies of the Soviet Bloc, in an attempt to explain why they were performing so poorly in comparison with the economies of the Western powers and the capitalist countries of South-East Asia. First published in 1988 this substantial and innovative contribution to the critical literature on the economies of the former Soviet bloc is unusual in that its author is equally familiar with both Western and Eastern sources. It highlights, in particular, a discrepancy between the behaviour of individuals in Soviet-style economies and that expected of agents in a market system. It proceeds to outline how the consequent discordance between microeconomic practice and macroeconomic planning generates fundamental economic distortions.
Author: Mr.Etibar Jafarov
Publisher: International Monetary Fund
ISBN: 151351248X
Category : Business & Economics
Languages : en
Pages : 66
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Book Description
Financial repression (legal restrictions on interest rates, credit allocation, capital movements, and other financial operations) was widely used in the past but was largely abandoned in the liberalization wave of the 1990s, as widespread support for interventionist policies gave way to a renewed conception of government as an impartial referee. Financial repression has come back on the agenda with the surge in public debt in the wake of the Global Financial Crisis, and some countries have reintroduced administrative ceilings on interest rates. By distorting market incentives and signals, financial repression induces losses from inefficiency and rent-seeking that are not easily quantified. This study attempts to assess some of these losses by estimating the impact of financial repression on growth using an updated index of interest rate controls covering 90 countries over 45 years. The results suggest that financial repression poses a significant drag on growth, which could amount to 0.4-0.7 percentage points.
