Managing economic volatility and crises : a practitioner's guide

書誌事項

Managing economic volatility and crises : a practitioner's guide

edited by Joshua Aizenman, Brian Pinto

Cambridge University Press, 2005

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注記

Includes bibliographical references and index

内容説明・目次

内容説明

Economic volatility has come into its own after being treated for decades as a secondary phenomenon in the business cycle literature. This evolution has been driven by the recognition that non-linearities, long buried by the economist's penchant for linearity, magnify the negative effects of volatility on long-run growth and inequality, especially in poor countries. This collection organizes empirical and policy results for economists and development policy practitioners into four parts: basic features, including the impact of volatility on growth and poverty; commodity price volatility; the financial sector's dual role as an absorber and amplifier of shocks; and the management and prevention of macroeconomic crises. The latter section includes a cross-country study, case studies on Argentina and Russia, and lessons from the debt default episodes of the 1980s and 1990s.

目次

  • Contributors
  • Acknowledgements
  • Foreword
  • Overview Joshua Aizenman and Brian Pinto
  • Part I. What Is Volatility and Why Does It Matter?: 1. Volatility: definitions and consequences Holger Wolf
  • 2. Volatility and growth Viktoria Hnatkovska and Norman Loayza
  • 3. Volatility, income distribution, and poverty Thomas Laursen and Sandeep Mahajan
  • Part II. Commodity Prices and Volatility: 4. Agricultural commodity price volatility Jan Dehn, Christopher Gilbert, and Panos Varangis
  • 5. Managing oil booms and busts in developing countries Julia Devlin and Michael Lewin
  • Part III. Finance and Volatility: 6. Finance and volatility Stijn Claessens
  • 7. Evaluating pricing signals from the bond markets John J. Merrick, Jr
  • Part IV. Managing Crises: 8. Managing macroeconomic crises: policy lessons Jeffrey Frankel and Shang-Jin Wei
  • 9. Lessons from the Russian crisis of 1998 and recovery Brian Pinto, Evsey Gurvich, and Sergei Ulatov
  • 10. Argentina's macroeconomic collapse: causes and lessons Luis Serven and Guillermo Perry
  • 11. Default episodes in the 1980s and 1990s: what have we learned? Punam Chuhan and Federico Sturzenegger
  • Technical appendix Viktoria Hnatkovska
  • Index.

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