عنوان

High inflation :

(Number (ISBN

0198288441 (acid-free paper)

(Number (ISBN

9780198288442 (acid-free paper)

Number

b534223

Title Proper

High inflation :

General Material Designation

[Book]

Other Title Information

the Arne Ryde memorial lectures /

First Statement of Responsibility

Daniel Heymann and Axel Leijonhufvud.

Place of Publication, Distribution, etc.

New York :

Name of Publisher, Distributor, etc.

Oxford University Press,

Date of Publication, Distribution, etc.

1995.

Specific Material Designation and Extent of Item

xii, 233 p. :

Other Physical Details

ill. ;

Dimensions

23 cm.

Text of Note

Includes bibliographical references (p. [208]-226) and indexes.

Text of Note

1. Introduction -- 2. Models of High Inflation -- 3. Monetary Regimes and Inflation -- 4. The Finances of the Government -- 5. Living with High Inflation -- 6. Stabilization: Finding a Way Back -- 7. High Inflations and Contemporary Monetary Theory.

0

Text of Note

In the 1980s, several Latin American countries suffered through years of high inflation, as did Israel. Today, high inflations thwart reform and impede recovery in Russia, Ukraine, and most of the other former Soviet republics. This book examines the emergence of such inflation-prone monetary regimes, the financial predicaments besetting governments in high inflations, and the difficulties of devising policy strategies that can be sustained through disinflation to lasting stabilization. It discusses the manner in which these inflations cause the functioning of the market economy to deteriorate. High inflations interfere with information flows between agents and complicate economic calculations; they make the accounting measurement of economic results and the monitoring of principal-agent relationships more difficult; they undermine the basis for intertemporal contractual commitments, and cause many financial markets to disappear entirely.

Text of Note

These high inflation phenomena challenge our understanding of monetary economics. Episodes of extreme monetary instability make us see the scope and limitations of current theory in clearer perspective. Theories of money and finance that introduce money only so as to determine the nominal scale of non-monetary general equilibrium will not explain the deterioration of economic performance characteristic of high inflations. The authors conclude this study with an exploration of the theoretical issues raised by the anomalous evidence from the high inflations.

Title

High inflation.

Economic stabilization.

Inflation (Finance)

Monetary policy.

Class number

Book number

Heymann, Daniel.

Leijonhufvud, Axel.

Date of Transaction

20140214081738.0

Electronic name

[Book]

Y