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Crisis Full Description

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 ofthe 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-theoryapplications to economic policy design (concepts such as dynamic inconsistency, government reputation, and credibility) and the rationalization of incomes policy. Free Shipping.