High Inflation: The Arne Ryde Memorial Lectures

Hardcover | March 1, 1995

byDaniel Heymann, Axel Leijonhufvud

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This book looks at very high inflations, exemplified by those suffered by Argentina, Bolivia, Brazil, Israel, Mexico, and Peru in the eighties and by the Soviet Union today. The authors argue that a better grasp of high inflation processes is necessary in order for countries intricated in itto design stabilization strategies. The extremes of monetary instability can also give a clearer picture of the purpose that money and financial institutions serve under more normal circumstances, thus deepening our understanding of the benefits of monetary stability.The authors examine the financial problems that governments have to wrestle with in high inflation, the private sector's adaptations to high inflation conditions, and the difficulties of finding a policy strategy that can be sustained through disinflation to lasting stabilization.In describing, analysing, and explaining a number of high inflationary experiences, the authors show that standard macroeconomic theory cannot account for the phenomenon of these extreme cases and ask how received inflation theory needs to be changed in order for it to accommodate the variouseffects on the functioning of the economy.Finally, the authors make a series of policy prescriptions which will help policy-makers to avoid inflationary situations.

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From the Publisher

This book looks at very high inflations, exemplified by those suffered by Argentina, Bolivia, Brazil, Israel, Mexico, and Peru in the eighties and by the Soviet Union today. The authors argue that a better grasp of high inflation processes is necessary in order for countries intricated in itto design stabilization strategies. The extre...

From the Jacket

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 besetti...

Daniel Heymann is a Professor at University of Buenos Aires. Axel Leijonhufvud is a Professor, Department of Economics at the University of California, Los Angeles.

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Kobo ebook|Oct 22 2009

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Format:HardcoverDimensions:246 pages, 8.5 × 5.43 × 0.71 inPublished:March 1, 1995Publisher:Oxford University Press

The following ISBNs are associated with this title:

ISBN - 10:0198288441

ISBN - 13:9780198288442

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`A useful and thought provoking book, especially for an economist interested in high-inflation countries ... The authors provide a useful discussion of the stabilization of high-inflation economies ... The main thesis of the book is that high inflation retards economic growth. The explanationdetailed in support of this view in this book is as rigorous as it can get ... those who patiently study it will find it rewarding.'The Southern Economic Journal