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Persistent link: https://www.econbiz.de/10011950637
purposes. In addition, those countries must have an adequate economic policy environment with macroeconomic stability, openness …
Persistent link: https://www.econbiz.de/10008837648
seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the … strategies. Our results are robust to a wide range of sensitivity tests. -- Corruption ; seigniorage ; inflation ; growth. …
Persistent link: https://www.econbiz.de/10003748210
seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the …
Persistent link: https://www.econbiz.de/10013316495
inconsistency problem arising from the temptation to stimulate the economy with unexpected inflation. Although this dynamic … mechanism design problem seems complex, society can implement the optimal policy simply by legislating an inflation cap that … specifies the highest allowable inflation rate. The more severe the time inconsistency problem, the more tightly the cap …
Persistent link: https://www.econbiz.de/10009639392
ABSTRACT: this present study aims at describing the analytical framework of the IMF and WB structural adjustment programs (SAP).It focuses on the theoretical foundation of the SAP and reviews the absorption approach, the monetary approach and the exchange rate approach.
Persistent link: https://www.econbiz.de/10005836221
The global economic recession following the financial crises once again revived the debate over the efficacy of Keynesian solution to deal with the crises. Most of the country went in to offer bailout packages from the public budget which could be the reminiscent of such policies adopted earlier...
Persistent link: https://www.econbiz.de/10011201795
Recently governments, economists, and international financial institutions have been debating the merits of further fiscal stimulus to combat the Great Recession versus fiscal austerity or “adjustment” – that is, higher taxes and/or lower government spending – to combat budget deficits....
Persistent link: https://www.econbiz.de/10008671782
This paper looks at the countries of Central and Eastern Europe (CEE) and the Commonwealth of Independent States (CIS), where economies have been most dramatically hit by the global crisis and its impact is likely to be most long-lasting, especially among poor and vulnerable groups. Using...
Persistent link: https://www.econbiz.de/10008671841
With the economy suffering from near double-digit unemployment, public debate is dominated by concerns over the budget deficit and national debt. This discussion is unfortunate both because there is no reason for people to be concerned about the deficit at present, and more importantly, because...
Persistent link: https://www.econbiz.de/10008678193