Crisis, Stabilization, and Economic Reform: Therapy by Consensus by Michael BrunoCrisis, Stabilization, and Economic Reform: Therapy by Consensus by Michael Bruno

Crisis, Stabilization, and Economic Reform: Therapy by Consensus

byMichael Bruno

Hardcover | April 30, 1999

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This book authoritatively considers the phenomenon of the severe economic crises of the 1970s and 1980s, as exemplified by the combination of high inflation and negative growth in Israel and Latin America. The author analyses the common characteristics of such processes and their possiblecures-with a detailed first-hand account of Israeli stabilization policy, and a comparative policy-oriented analysis of Latin American reforms. Professor Bruno also calls on his experience to give a preliminary evaluation of recent stabilizations and reform attempts in several East Europeaneconomies. The discussion of the theoretical underpinnings of `shock' treatments provides a good example for the blending of a number of disciplines: lessons of economic history; open economy monetary and macro theory; game-theoretic applications to the theory of economic policy design (conceptssuch as dynamic inconsistency, government reputation, and credibility); and the rationalization of incomes policy. The Clarendon Lectures in Economics were established in 1987. They consist of coherent sets of three or four lectures given by distinguished economists which are accessible to advanced undergraduates and also of interest to academics. Subjects vary from high theory and applications of theory topolicy-oriented topics. Lecturers include Professors J.-M. Grandmont, David Kreps, Kenneth Arrow, Angus Deaton, Robert Schiller, and Oliver Hart.
The late Michael Bruno was Vice President, Development Economics, and Chief Economist at World Bank.
Title:Crisis, Stabilization, and Economic Reform: Therapy by ConsensusFormat:HardcoverDimensions:320 pages, 8.5 × 5.43 × 0.94 inPublished:April 30, 1999Publisher:Oxford University Press

The following ISBNs are associated with this title:

ISBN - 10:0198286635

ISBN - 13:9780198286639

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Editorial Reviews

`a most useful general introduction to the problems examined in subsequent chapters ... This is a lucid and useful book, informed by shrewd political judgement and welcome awareness of the real importance of individual freedom. Its judicious and reasonable tone, with careful use of evidencefrom a wide range of settings, contrasts notably with the other volume reviewed here.'Economic Affairs