Rudiger Dornbusch

Stanley Fischer

David Begg

Economics

Sebastian Edwards

Again and again, Latin America has seen the populist scenario played to an unfortunate end. Upon gaining power, populist governments attempt to revive the economy through massive spending. After an initial recovery, inflation reemerges and the government responds with wage an price controls. Shortages, overvaluation, burgeoning deficits, and capital flight soon precipitate economic crisis, with a subsequent collapse of the populist regime. The lessons of this experience are especially valuable for countries in Eastern Europe, as they face major political and economic decisions. Economists and political scientists from the United States and Latin America detail in this volume how and why such programs go wrong and what leads policymakers to repeatedly adopt these policies despite a history of failure. Authors examine this pattern in Argentina, Brazil, Chile, Mexico, Nicaragua, and Peru—and show how Colombia managed to avoid it. Despite differences in how each country implemented its policies, the macroeconomic consequences were remarkably similar. Scholars of Latin America will find this work a valuable resource, offering a distinctive macroeconomic perspective on the continuing controversy over the dynamics of populism.

The Macroeconomics of Populism in Latin America

Gianluigi Vernasca

Economics affects almost everything we do: from our decisions at work to our shopping habits, voting preferences and social attitudes. This new edition of the popular text by David Begg and Gianluigi Vernasca enables the reader to understand today's economic environment by examining the underlying theory and applying it to real-world situations. Economics surveys the latest ideas and issues, such as the role of regulation in banking, the consequences of globalization and monetary union, and the efficacy of our current economic models. This coverage, combined with a rich array of pedagogical features, encourages students to explore our economic past and present, and to think critically about where this might lead us in the future. The new edition is updated to provide a comprehensive analysis of the financial crash: its causes, consequences, and possible policy responses, from fiscal stimulus to quantitative easing.

EBOOK: Economics

Maurice Obstfeld

Guillermo A. Calvo

Essays by leading economists and scholars reflecting on Mundell's broad influence on modern open-economy macroeconomics.

Essays in Honor of Robert A. Mundell

Money, Capital Mobility, and Trade

Richard Layard

P. Richard G. Layard

Modelled on the earlier assessments by the Brooking Institute, this book provides authoritative assessments of the British economy in its various aspects over the last 15 years. The book is intended for students and researchers in economic policy and policy-makers.

The Performance of the British Economy

Paul R. Krugman

University Paul Krugman

Professor of Economics and Director of the Center for Economic Performance Richard Layard

Olivier J. Blanchard

Ford International Professor of Economics Rudiger Dornbusch

East West Migration

Pedro Aspe Armella

The essays brought together in this volume share a common objective: To bring a unifying methodological approach to the analysis of financial problems in developing, open economies. While the primary focus is on contemporary Latin America, the methods employed and the lessons learned are of wider applicability. The papers address the financial integration issue from three different perspectives. In some cases, a country study is the vehicle for an econometric investigation of a particular external linkage. In other cases, an individual country's experience suggests an economic model in which the stylized facts may be analyzed and developed. A third direction is unabashedly theoretical and formulates more general principles which are broadly applicable rather than country-specific.

The Problem of Latin American Countries

Financial Policies and the World Capital Market

Rudiger Dornbusch

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