Inflation In The World Economy
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Author |
: Edwin M Truman |
Publisher |
: Columbia University Press |
Total Pages |
: 278 |
Release |
: 2003-10-27 |
ISBN-10 |
: 9780881324501 |
ISBN-13 |
: 0881324507 |
Rating |
: 4/5 (01 Downloads) |
Synopsis Inflation Targeting in the World Economy by : Edwin M Truman
This study reviews the literature on the contribution of low inflation to economic growth and the subsequent widespread adoption of inflation targeting as a monetary policy framework. Edwin Truman addresses the challenges and risks associated with such a framework. Building on these foundations, the study focuses on two major international economic policy issues: (1) the implications of differing national regimes of inflation targeting for international economic policy cooperation; and (2) the adoption of inflation targeting by emerging-market economies which often lack stable monetary policy environments and credible policy authorities—a situation which, among other things, can complicate the use of the inflation targeting framework as the basis for IMF-supported stabilization programs.
Author |
: Jongrim Ha |
Publisher |
: World Bank Publications |
Total Pages |
: 524 |
Release |
: 2019-02-24 |
ISBN-10 |
: 9781464813764 |
ISBN-13 |
: 1464813760 |
Rating |
: 4/5 (64 Downloads) |
Synopsis Inflation in Emerging and Developing Economies by : Jongrim Ha
This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.
Author |
: Warner Max Corden |
Publisher |
: |
Total Pages |
: 176 |
Release |
: 1977 |
ISBN-10 |
: UVA:X000368599 |
ISBN-13 |
: |
Rating |
: 4/5 (99 Downloads) |
Synopsis Inflation, Exchange Rates, and the World Economy by : Warner Max Corden
Author |
: Michael Parkin |
Publisher |
: Manchester University Press |
Total Pages |
: 356 |
Release |
: 1976 |
ISBN-10 |
: 0719007003 |
ISBN-13 |
: 9780719007002 |
Rating |
: 4/5 (03 Downloads) |
Synopsis Inflation in the World Economy by : Michael Parkin
Author |
: Michael D. Bordo |
Publisher |
: University of Chicago Press |
Total Pages |
: 545 |
Release |
: 2013-06-28 |
ISBN-10 |
: 9780226066950 |
ISBN-13 |
: 0226066959 |
Rating |
: 4/5 (50 Downloads) |
Synopsis The Great Inflation by : Michael D. Bordo
Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Author |
: International Monetary Fund. Research Dept. |
Publisher |
: INTERNATIONAL MONETARY FUND |
Total Pages |
: 203 |
Release |
: 2020-10-13 |
ISBN-10 |
: 1513556053 |
ISBN-13 |
: 9781513556055 |
Rating |
: 4/5 (53 Downloads) |
Synopsis World Economic Outlook, October 2020 by : International Monetary Fund. Research Dept.
The global economy is climbing out from the depths to which it had plummeted during the Great Lockdown in April. But with the COVID-19 pandemic continuing to spread, many countries have slowed reopening and some are reinstating partial lockdowns to protect susceptible populations. While recovery in China has been faster than expected, the global economy’s long ascent back to pre-pandemic levels of activity remains prone to setbacks.
Author |
: Charles Goodhart |
Publisher |
: Springer Nature |
Total Pages |
: 260 |
Release |
: 2020-08-08 |
ISBN-10 |
: 9783030426576 |
ISBN-13 |
: 3030426572 |
Rating |
: 4/5 (76 Downloads) |
Synopsis The Great Demographic Reversal by : Charles Goodhart
This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue, “it will be nothing like the past”. Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world’s available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world’s trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others. This book will be of interest and understandable to anyone with an interest on where the world’s economy may be going.
Author |
: Robert A. Mundell |
Publisher |
: |
Total Pages |
: 216 |
Release |
: 1971 |
ISBN-10 |
: UOM:39015004958644 |
ISBN-13 |
: |
Rating |
: 4/5 (44 Downloads) |
Synopsis Monetary Theory by : Robert A. Mundell
Author |
: Lorie Tarshis |
Publisher |
: James Lorimer & Company |
Total Pages |
: 212 |
Release |
: 1984-01-01 |
ISBN-10 |
: 0888626258 |
ISBN-13 |
: 9780888626257 |
Rating |
: 4/5 (58 Downloads) |
Synopsis The World Economy in Crisis by : Lorie Tarshis
Lorie Tarshis held that much of the economic suffering in the 1970s was not necessary, that the crisis could have been easily eased had it not been for governments' faulty diagnoses and poorly-designed prescriptions. Faced with increasingly serious energy shortages, economic slowdowns, rising unemployment and skyrocketing Third World debt, Western governments responded with inflation-fighting policies left over from the Second World War that served only to exaccerbate the situation. In this book Tarshis recommended an overall strategy to confront these problems without resorting to the stopgaps then in vogue with government decision makers. World Economy in Crisis offers an acute diagnosis of the pervasive malaise facing the world economy in the 1970s, and a critical perspective on contemporary official responses to it.
Author |
: Mr.Raphael A. Espinoza |
Publisher |
: International Monetary Fund |
Total Pages |
: 24 |
Release |
: 2010-03-01 |
ISBN-10 |
: 9781451982190 |
ISBN-13 |
: 1451982194 |
Rating |
: 4/5 (90 Downloads) |
Synopsis Estimating The Inflation–Growth Nexus—A Smooth Transition Model by : Mr.Raphael A. Espinoza
Motivated by the global inflation episode of 2007-08 and concern that high levels of inflation could undermine growth, this paper uses a panel of 165 countries and data for 1960-2007 to revisit the nexus between inflation and growth. We use a smooth transition model to investigate the speed at which inflation beyond a threshold becomes harmful to growth, an important consideration in the policy response to rising inflation as the world economy recovers. We estimate that for all country groups (except for advanced countries) inflation above a threshold of about 10 percent quickly becomes harmful to growth, suggesting the need for a prompt policy response to inflation at or above the relevant threshold. For the advanced economies, the threshold is much lower. For oil exporting countries, the estimates are less robust, possibly reflecting heterogeneity among oil producers, but the effect of higher inflation for oil producers is found to be stronger.