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Shocks and Accommodation: The Dichotomy and Mechanics of High Inflation

Michael Bruno

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

Published in print:
1993
Published Online:
September 2006
ISBN:
9780198286639
eISBN:
9780191603839
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198286635.003.0003
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter examines the dynamics of high inflation under accommodation to price shocks. One simple approach to the budget as a source of the inflationary process is to consider the link of the form ... More


Stabilization and Reform in Eastern Europe

Michael Bruno

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

Published in print:
1993
Published Online:
September 2006
ISBN:
9780198286639
eISBN:
9780191603839
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198286635.003.0007
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter considers the most recent stabilization and reform experience in six Eastern European countries, starting with the earlier Yugoslav and Polish shock programmes of 1990 and followed by ... More


Crisis, Stabilization, and Economic Reform: Therapy by Consensus

Michael Bruno

Published in print:
1993
Published Online:
September 2006
ISBN:
9780198286639
eISBN:
9780191603839
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0198286635.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

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 ... More


The Macroeconomic Repercussions of Agricultural Shocks and their Implications for Insurance

Paul Collier

in Insurance Against Poverty

Published in print:
2004
Published Online:
January 2005
ISBN:
9780199276837
eISBN:
9780191601620
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199276838.003.0008
Subject:
Economics and Finance, Development, Growth, and Environmental

The macroeconomic effects of agricultural shocks are investigated. A decline in the price of agricultural exports can cause an income shock to the household, locality, and the nation. Positive price ... More


The Supply-Shock Explanation of the Great Stagflation Revisited

Alan S. Blinder and Jeremy B. Rudd

in The Great Inflation: The Rebirth of Modern Central Banking

Published in print:
2013
Published Online:
September 2013
ISBN:
9780226066950
eISBN:
9780226043555
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226043555.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

Previous studies have concluded that the two OPEC shocks, the two roughly contemporaneous food price shocks, and the removal of wage-price controls in 1973–1974 played key roles in the macroeconomic ... More


Commodity Prices and the Debt Relief Initiative

Mohammad A. Razzaque, Philip Osafa‐Kwaako, and Roman Grynberg

in Commodity Prices and Development

Published in print:
2007
Published Online:
January 2008
ISBN:
9780199234707
eISBN:
9780191715488
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199234707.003.0010
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter reviews the HIPC debt relief initiative to suggest that unless the commodity price shocks are taken into consideration, many of the beneficiaries may not exit the debt tap. The chapter ... More


Planning for Scarcity and Price Shocks

Yossi Sheffi

in The Power of Resilience: How the Best Companies Manage the Unexpected

Published in print:
2015
Published Online:
May 2016
ISBN:
9780262029797
eISBN:
9780262330626
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262029797.003.0010
Subject:
Economics and Finance, Financial Economics

The rising economies of China, India, Brazil, and others have contributed to the globalization of supply chains in terms of new markets and new sources of supply. Yet the growing global economy in ... More


Commodity Prices and Development

Roman Grynberg and Samantha Newton (eds)

Published in print:
2007
Published Online:
January 2008
ISBN:
9780199234707
eISBN:
9780191715488
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199234707.001.0001
Subject:
Economics and Finance, Development, Growth, and Environmental

More than fifty developing countries depend on three or fewer commodities for more than half of their exports. In fact, reliance on only a single commodity for a large share of export earnings is ... More


The Macroeconomic Effects of Oil Price Shocks: Why Are the 2000s so Different from the 1970s?

Olivier J. Blanchard and Jordi Galí

in International Dimensions of Monetary Policy

Published in print:
2010
Published Online:
February 2013
ISBN:
9780226278865
eISBN:
9780226278872
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226278872.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter discusses the large output losses and the rises in inflation rates that accompanied the two oil shocks of 1970 in most industrialized countries, and shows the more recent absence of ... More


Oil Shocks in a DSGE Model for the Korean Economy

Sungbae An and Kang Heedon

in Commodity Prices and Markets

Published in print:
2011
Published Online:
February 2013
ISBN:
9780226386898
eISBN:
9780226386904
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226386904.003.0010
Subject:
Economics and Finance, South and East Asia

This chapter describes the oil shocks using a dynamic stochastic general equilibrium (DSGE) model for the Korean economy. The Korean economy depends entirely on imports for its acquisition of crude ... More


Evaluating the Impact of Global Food Price Shocks in Rural Guatemala

J. Edward Taylor and Mateusz J. Filipski

in Beyond Experiments in Development Economics: Local Economy-wide Impact Evaluation

Published in print:
2014
Published Online:
September 2014
ISBN:
9780198707875
eISBN:
9780191783074
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198707875.003.0008
Subject:
Economics and Finance, Development, Growth, and Environmental

Rising global food prices and price volatility create an imperative to understand the impacts of food price shocks in low-income countries. In an era of growing trade integration, global prices are ... More


The Political Economy of Food Price Policy in Mozambique

Virgulino Nhate, Claudio Massingarela, and Vincenzo Salvucci

in Food Price Policy in an Era of Market Instability: A Political Economy Analysis

Published in print:
2014
Published Online:
January 2015
ISBN:
9780198718574
eISBN:
9780191788017
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718574.003.0010
Subject:
Economics and Finance, Development, Growth, and Environmental

The 2007–9 food price shocks affected in particular the prices of food commodities and fuel. As a consequence, Mozambique experienced reduced exports, more expensive imports and increased food and ... More


Monetary Policy: Dealing with Fiscal Constraints and External Price Shocks

Juan Antonio Morales and Paul Reding

in Monetary Policy in Low Financial Development Countries

Published in print:
2021
Published Online:
August 2021
ISBN:
9780198854715
eISBN:
9780191888915
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198854715.003.0005
Subject:
Economics and Finance, Development, Growth, and Environmental

The chapter explores two significant challenges faced by central banks in LFDCs: fiscal dominance and external shocks. Monetary policy can be dominated by governments that rely on seigniorage ... More


On the First-Round Effects of International Food Price Shocks

Rafael Portillo and Luis-Felipe Zanna

in Monetary Policy in Sub-Saharan Africa

Published in print:
2018
Published Online:
April 2018
ISBN:
9780198785811
eISBN:
9780191827624
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198785811.003.0010
Subject:
Economics and Finance, Macro- and Monetary Economics, Behavioural Economics

The chapter presents a small open-economy model to study the first-round effects of international food-price shocks in developing countries. First-round shocks are defined as changes in headline ... More


Gender and Saffron Price Shocks in Morocco’s Atlas Mountains

Travis Lybbert and Abdellah Aboudrare

in Beyond Experiments in Development Economics: Local Economy-wide Impact Evaluation

Published in print:
2014
Published Online:
September 2014
ISBN:
9780198707875
eISBN:
9780191783074
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198707875.003.0012
Subject:
Economics and Finance, Development, Growth, and Environmental

Saffron is the dearest spice in the world and the main livelihood for households in the Taliouine-Taznakht region of Morocco’s Atlas Mountains. Global saffron prices reached record highs in recent ... More


The Copper Sector, Fiscal Rules, and Stabilization Funds in Chile: Scope and Limits

Andres Solimano and Diego Calderón Guajardo

in Extractive Industries: The Management of Resources as a Driver of Sustainable Development

Published in print:
2018
Published Online:
November 2018
ISBN:
9780198817369
eISBN:
9780191858871
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198817369.003.0010
Subject:
Economics and Finance, Development, Growth, and Environmental

Historically Chile’s economy has been dominated by mineral products (mainly copper) as a source of exports and fiscal revenues. Copper prices and other commodity prices are often volatile. Since the ... More


A Structural Analysis of the Determinants of Inflation in the CEMAC Region

Rafael Portillo

in Monetary Policy in Sub-Saharan Africa

Published in print:
2018
Published Online:
April 2018
ISBN:
9780198785811
eISBN:
9780191827624
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198785811.003.0020
Subject:
Economics and Finance, Macro- and Monetary Economics, Behavioural Economics

The author analyses inflation in the Central African Economic and Monetary Community. First, a semi-structural VAR is used to identify the sources of inflation empirically; the chapter finds that ... More


Extractive Revenues and Government Spending: Short- versus Long-term Considerations

Frederick van der Ploeg and Anthony J. Venables

in Extractive Industries: The Management of Resources as a Driver of Sustainable Development

Published in print:
2018
Published Online:
November 2018
ISBN:
9780198817369
eISBN:
9780191858871
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198817369.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter looks at the prescription of optimally managing natural resource revenue windfalls by smoothing consumption across generations using an intergenerational sovereign wealth fund that only ... More


Diversification as a panacea for commodity price volatility in sub-Saharan Africa

Degol Hailu and Chinpihoi Kipgen

in Handbook of BRICS and Emerging Economies

Published in print:
2020
Published Online:
January 2021
ISBN:
9780198827535
eISBN:
9780191866395
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198827535.003.0011
Subject:
Economics and Finance, Development, Growth, and Environmental

The prices of hydrocarbons and minerals are subject to severe fluctuations. As a result, commodity dependent countries in sub-Saharan Africa face serious fiscal and balance-of-payment deficits. In ... More


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