Managing Economic Volatility and Crises: A Practitioner's Guide

Managing Economic Volatility and Crises: A Practitioner's Guide

by Joshua Aizenman
     
 

Over the past ten years, economic volatility has come into its own after being treated for decades as a secondary phenomenon in the business cycle literature. This book 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… See more details below

Overview

Over the past ten years, economic volatility has come into its own after being treated for decades as a secondary phenomenon in the business cycle literature. This book 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, ease studies on Argentina and Russia, and lessons from the debt default episodes of the 1980s and 1990s.

Product Details

ISBN-13:
9780521168595
Publisher:
Cambridge University Press
Publication date:
02/03/2011
Pages:
614
Product dimensions:
5.98(w) x 9.02(h) x 1.38(d)

Table of Contents

Overview1
1Volatility : definitions and consequences45
2Volatility and growth65
3Volatility, income distribution, and poverty101
4Agricultural commodity price volatility137
5Managing oil booms and busts in developing countries186
6Finance and volatility213
7Evaluating pricing signals from the bond markets281
8Managing macroeconomic crises : policy lessons315
9Lessons from the Russian crisis of 1998 and recovery406
10Argentina's macroeconomic collapse : causes and lessons439
11Default episodes in the 1980s and 1990s : what have we learned?471
Technical appendix521

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