Jump to ContentJump to Main Navigation
Money, Crises, and Transition – Essays in Honor of Guillermo A. Calvo - MIT Press Scholarship Online
Users without a subscription are not able to see the full content.

Money, Crises, and Transition: Essays in Honor of Guillermo A. Calvo

Carmen M. Reinhart, Carlos A. Vegh, and Andres Velasco

Abstract

Guillermo Calvo, one of the most influential macroeconomists of the last thirty years, has made pathbreaking contributions in such areas as time-inconsistency, lack of credibility, stabilization, transition economies, debt maturity, capital flows, and financial crises. His work on macroeconomic issues relevant for developing countries has set the tone for much of the research in this area and greatly influenced practitioners’ thinking in Latin America, Eastern Europe, Asia, and elsewhere. In this book, specialists in Calvo’s main areas of expertise explore the themes behind this substantial bo ... More

Keywords: time-inconsistency, lack of credibility, stabilization, transition economies, debt maturity, capital flows, financial crises, developing countries, exchange rate policy, debt

Bibliographic Information

Print publication date: 2008 Print ISBN-13: 9780262182669
Published to MIT Press Scholarship Online: August 2013 DOI:10.7551/mitpress/9780262182669.001.0001

Authors

Affiliations are at time of print publication.

Carmen M. Reinhart, editor

Carlos A. Vegh, editor

Andres Velasco, editor

Show Summary Details

subscribe or login to access all content.

Contents

View:

Front Matter

Title Pages

Contributors

Acknowledgments

Introduction

Carmen M. Reinhart, Carlos A. Végh, and Andrés Velasco

I Monetary and Exchange Rate Policy in Theory

1 Pricing-to-Market, the Interest-Rate Rule, and the Exchange Rate

Maurice Obstfeld

2 Optimal Exchange Rate Regimes: Turning Mundell-Fleming’s Dictum on Its Head

Amartya Lahiri, Rajesh Singh, and Carlos A. Végh

3 Monetary Policy Rules, the Fiscal Theory of the Price Level, and (Almost) All that Jazz: In Quest of Simplicity

Leonardo Auernheimer

II Monetary and Exchange Rate Policy in Practice

4 Can Inflation Targeting Work in Emerging Market Countries?

Frederic S. Mishkin

5 Why Should Emerging Economies Give up National Currencies? A Case for “Institutions Substitution”

Enrique G. Mendoza

6 Hard Currency Pegs and Economic Performance

Sebastian Edwards, and I. Igal Magendzo

III Financial Crises

7 Asset Prices and Self-Fulfilling Macroeconomic Pessimism

Andrés Velasco, and Alejandro Neut

8 The Center and the Periphery: The Globalization of Financial Turmoil

Graciela L. Kaminsky, and Carmen Reinhart

9 Why Do Some Countries Recover More Readily from Financial Crises?

Padma Desai, and Pritha Mitra

IV Debt, Taxation, and Reforms

10 Government Debt: A Key Role in Financial Intermediation

Michael Kumhof, and Evan Tanner

11 Capital Income Taxation in the Globalized World

Assaf Razin, and Efraim Sadka

12 Can Public Discussion Enhance Program “Ownership”?

Allan Drazen, and Peter Isard

V Transition and Growth

13 Sources and Obstacles for Growth in Transition Countries: The Role of Credit

Fabrizio Coricelli, Bostjan Jazbeč, and Igor Masten

14 Growth in Transition Economies: Domestic Policies, External Assistance, and Institution Building

Stanley Fischer, and Ratna Sahay

15 Growth Collapses

Ricardo Hausmann, Francisco Rodríguez, and Rodrigo Wagner

VI The Man Behind the Mind

16 The Columbia Years

Edmund S. Phelps

17 The Practitioner

Roque B. Fernández

18 In His Own Words: An Interview with Guillermo Calvo

Enrique G. Mendoza

End Matter

Publications of Guillermo A. Calvo

Index