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  3. Monetær økonomi

Inflation and Disinflation

- The Israeli Experiment
Af: Leonardo Leiderman Engelsk Hardback

Inflation and Disinflation

- The Israeli Experiment
Af: Leonardo Leiderman Engelsk Hardback
Tjek vores konkurrenters priser
During the early 1980s, Israel's inflation rate rose to almost 500% per year—one of the highest inflation rates in the developed world. In 1985, the Israeli government implemented a program that immediately reduced inflation to 15%-20%, where it remained for the rest of the decade. How did the economy deal with these major changes so rapidly and successfully? In these eighteen articles, Leonardo Leiderman discusses why the Israeli plan worked and considers how other countries might benefit from similar policies. Even though standard economic models predict that output will drop and unemployment will rise during disinflation, Israel saw a boom in private consumption and large increases in real wages that lasted for about three years. To understand how the effects of Israeli disinflation policies defied typical expectations, Leiderman investigates how monetary fiscal policy determined Israel's runaway inflation and how the country brought its economy abruptly under control. He finds that rates of inflation and consumption depend on the public's expectations about future fiscal adjustments and that foreign trade shocks do not inevitably lead to a long-term rise in the inflation rate. His illumination of international trade and domestic policies, past and present, will interest academic economists and policymakers alike.
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During the early 1980s, Israel's inflation rate rose to almost 500% per year—one of the highest inflation rates in the developed world. In 1985, the Israeli government implemented a program that immediately reduced inflation to 15%-20%, where it remained for the rest of the decade. How did the economy deal with these major changes so rapidly and successfully? In these eighteen articles, Leonardo Leiderman discusses why the Israeli plan worked and considers how other countries might benefit from similar policies. Even though standard economic models predict that output will drop and unemployment will rise during disinflation, Israel saw a boom in private consumption and large increases in real wages that lasted for about three years. To understand how the effects of Israeli disinflation policies defied typical expectations, Leiderman investigates how monetary fiscal policy determined Israel's runaway inflation and how the country brought its economy abruptly under control. He finds that rates of inflation and consumption depend on the public's expectations about future fiscal adjustments and that foreign trade shocks do not inevitably lead to a long-term rise in the inflation rate. His illumination of international trade and domestic policies, past and present, will interest academic economists and policymakers alike.
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Se mere i:
Produktdetaljer
Sprog: Engelsk
Sider: 344
ISBN-13: 9780226471105
Indbinding: Hardback
Udgave:
ISBN-10: 0226471101
Kategori: Monetær økonomi
Udg. Dato: 15 jul 1993
Længde: 3mm
Bredde: 16mm
Højde: 24mm
Forlag: The University of Chicago Press
Oplagsdato: 15 jul 1993
Forfatter(e): Leonardo Leiderman
Forfatter(e) Leonardo Leiderman

Kategori Monetær økonomi

ISBN-13 9780226471105

Sprog Engelsk

Indbinding Hardback

Sider 344

Udgave

Længde 3mm

Bredde 16mm

Højde 24mm

Udg. Dato 15 jul 1993

Oplagsdato 15 jul 1993

Forlag The University of Chicago Press

Kategori sammenhænge