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LEADER: 07704cam 2200529 a 4500
001 ocm23939699
003 OCoLC
005 20200106033529.0
008 910516s1992 nyu b 001 0 eng
010 $a 91021534
040 $aDLC$beng$cDLC$dEL$$dBTCTA$dYDXCP$dGEBAY$dBDX$dOCLCO$dOCLCF$dOCLCQ$dCSJ$dIOG$dOCLCO$dOCLCQ$dKSU$dOCLCQ$dBGU$dOCLCO$dCPO$dOCLCO$dOCLCA
019 $a1022717635
020 $a0312055552
020 $a9780312055554
035 $a(OCoLC)23939699$z(OCoLC)1022717635
050 00 $aHG229$b.B379 1992
082 00 $a332.4/1$220
100 1 $aBeckerman, Paul Ely.
245 14 $aThe economics of high inflation /$cPaul Beckerman.
260 $aNew York :$bSt. Martin's Press,$c1992.
300 $aviii, 228 pages ;$c22 cm
336 $atext$btxt$2rdacontent
337 $aunmediated$bn$2rdamedia
338 $avolume$bnc$2rdacarrier
504 $aIncludes bibliographical references (pages 210-220) and index.
520 1 $a"This book describes the complex of economic processes which sustains inflationary pressure in nations with severe inflation problems. Considered as a macroeconomic phenomenon, inflation is a more intricate matter than "too much money chasing too few goods" or excessive public-sector deficits. Inflation is best understood as a manifestation of disagreement within a society about the repartition of purchasing power. The difficulty of resolving this disagreement ultimately explains why the struggle against inflation in economies like those of Argentina and Brazil has been so frustrating."--BOOK JACKET. "In this accessible volume, Paul Beckerman uses an innovative approach to consider the strategies inhabitants of economies with lengthy inflation experience use to maintain their purchasing power despite inflation. He examines how these tactics function as "feedback mechanisms", economic processes by which, inflation in any given time period generates inflationary pressure in subsequent periods, and how they complicate the efforts of policy-makers to achieve stabilization."--Jacket.
505 0 $tAcknowledgements and Disclaimer --$g1$tThe Inflation Enigma$g(starting p. 1) --$g2$tWhy Inflation is "a Bad Thing"$g(starting p. 8) --$g1$tIntroduction: Why inflation is an economic problem$g(starting p. 8) --$g2$tExpected inflation and the disposition to hold money$g(starting p. 9) --$g3$tInflation surprises$g(starting p. 14) --$g4$tPrice-level uncertainty$g(starting p. 16) --$g5$tRelative-price dispersion$g(starting p. 20) --$g6$tHyperinflation$g(starting p. 24) --$g7$tConclusion: Why "ideal," "semi-ideal," "neutral," and real-life inflations are "bad"$g(starting p. 25) --$g3$tInflation Feedback$g(starting p. 27) --$g1$tMonetary abundance$g(starting p. 27) --$g2$tMoney creation$g(starting p. 28) --$g3$t"Monetarist," "structuralist," "demand-pull," and "cost-push" approaches to inflation$g(starting p. 32) --$g4$tInflation feedback$g(starting p. 36) --$g5$tInflation feedback through the public-sector budget$g(starting p. 40) --$g6$tInflation feedback through the external accounts$g(starting p. 44) --$g7$tInflation feedback through aggregate supply$g(starting p. 46) --$g8$tConclusion$g(starting p. 48) --$g4$tInflation Feedback and Competition for Purchasing Power$g(starting p. 50) --$g1$tIntroduction$g(starting p. 50) --$g2$tThe monetary system in the inflation process$g(starting p. 51) --$g3$tCompetition for purchasing power$g(starting p. 53) --$g4$tInflation feedback and purchasing-power competition$g(starting p. 56) --$g5$tThe "peaks-and-valleys" metaphor for contracted prices under inflation$g(starting p. 58) --$g6$tAn economic entity's capacity to engage in inflationary competition$g(starting p. 60) --$g7$tContracts and credit creation$g(starting p. 61) --$g8$tInflationary competition and the public sector$g(starting p. 63) --$g9$t"Inflationary competition"$g(starting p. 66) --$g5$tInflation and Financial Systems$g(starting p. 68) --$g1$tIntroduction$g(starting p. 68) --$g2$t"Financial repression"$g(starting p. 68) --$g3$tCircumvention and acceptance of repressive controls on interest rates$g(starting p. 69) --$g4$tNon-positive market-clearing real interest rates$g(starting p. 71) --$g5$tThe consequences of inflationary expectations, variability, uncertainty, and dispersion for financial markets$g(starting p. 76) --$g6$tFinancial markets and inflation feedback$g(starting p. 81) --$g6$tThe Dilemmas of Inflation-Stabilization Policy$g(starting p. 85) --$g1$tIntroduction$g(starting p. 85) --$g2$t"Gradualist" and "shock" approaches to stabilization$g(starting p. 86) --$g3$tRestrictive monetary policy$g(starting p. 88) --$g4$tRestrictive fiscal policy$g(starting p. 90) --$g5$tThe consequences of raising real interest rates$g(starting p. 96) --$g6$tComprehensive wage and price controls$g(starting p. 98) --$g7$tSelective price controls$g(starting p. 101) --$g8$tWage controls$g(starting p. 103) --$g9$tConclusion$g(starting p. 106) --$g7$tInflation Stabilization under External Constraint$g(starting p. 108) --$g1$tIntroduction: "IMF-type" stabilization programs$g(starting p. 108) --$g2$tInflation and IMF programs: the inherent "near-dilemma"$g(starting p. 112) --$g3$tExchange-rate policy$g(starting p. 116) --$g4$tInflationary consequences of external debt$g(starting p. 116) --$g5$tInflation, external debt, and IMF-type stabilization in Brazil, 1983-5$g(starting p. 118) --$g6$tOn raising domestic interest rates to forestall capital flight$g(starting p. 123) --$g7$tConclusion$g(starting p. 124) --$g8$tIndexation and Dollarization$g(starting p. 126) --$g1$tIntroduction: Definitions and distinctions$g(starting p. 126) --$g2$tAdvantages and drawbacks of financial indexation and dollarization$g(starting p. 128) --$g3$tOn the virtual non-existence of private index-linked obligations$g(starting p. 132) --$g4$tIndex-inked government bonds and the effectiveness of macroeconomic policy$g(starting p. 134) --$g5$tIndex-linking of prices$g(starting p. 139) --$g6$tWage indexation$g(starting p. 140) --$g7$tCrawling-peg exchange-rate policies and dollarization$g(starting p. 143) --$g8$tIndex-linking and taxation$g(starting p. 145) --$g9$tInflation and accounting conventions$g(starting p. 147) --$g10$tObservations on "purging" and on phasing out a purchasing-power unit of account$g(starting p. 148) --$g11$tConclusion$g(starting p. 151) --$g9$tRecent "Heterodox" Stabilization Experiences: Argentina, Israel, Brazil, 1985-9$g(starting p. 152) --$g1$tIntroduction: "Heterodox" stabilization programs$g(starting p. 152) --$g2$tArgentina, 1985-9$g(starting p. 155) --$g3$tIsrael, 1985-7$g(starting p. 166) --$g4$tBrazil, 1986-9$g(starting p. 171) --$g5$tConcluding observations$g(starting p. 179) --$g10$tToward a Theory of Self-Perpetuating Inflation$g(starting p. 182) --$tNotes$g(starting p. 190) --$tReferences$g(starting p. 210) --$tIndex$g(starting p. 221)
650 0 $aInflation (Finance)
650 0 $aEconomic stabilization.
650 7 $aEconomic stabilization.$2fast$0(OCoLC)fst00902085
650 7 $aInflation (Finance)$2fast$0(OCoLC)fst00972450
650 7 $aInflationsbeka mpfung$2gnd
650 7 $aStabilita tspolitik$2gnd
650 7 $aInflation$2gnd
650 4 $aEstabilizacio n econo mica.
650 07 $aInflationsbeka mpfung.$2swd
650 07 $aStabilita tspolitik.$2swd
650 07 $aInflation.$2swd
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938 $aBaker and Taylor$bBTCP$n91021534
938 $aYBP Library Services$bYANK$n183019
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948 $hNO HOLDINGS IN P4A - 270 OTHER HOLDINGS