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Crisis, Stabilization, and Economic Reform
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Crisis, Stabilization, and Economic Reform: Therapy by Consensus

Michael Bruno

Abstract

This book examines the phenomenon of the high inflation processes of the 1970s and 1980s as exemplified by Argentina, Brazil, and Israel. It explores the common characteristics of such processes and their possible cures — with some emphasis on the lessons of the Israeli experience in respect of the role of incomes policy and the political economy of stabilization. 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-theory applications ... More

Keywords: inflation, stabilization programme, Israel, Latin America, Eastern Europe, incomes policy, price shock

Bibliographic Information

Print publication date: 1993 Print ISBN-13: 9780198286639
Published to Oxford Scholarship Online: September 2006 DOI:10.1093/0198286635.001.0001

Authors

Affiliations are at time of print publication.

Michael Bruno, author
World Bank

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