The Benefits of Crises for Economic Reforms
The Benefits of Crises for Economic Reforms
复制标题
危机对经济改革的好处
DOI：
10.3386/w3527
复制
发表时间：
1990
期刊：
影响因子：
--
通讯作者：
V. Grilli
中科院分区：
文献类型：
--
作者：
Allan Drazen;V. Grilli
本文提出了一个经济危机对福利有积极影响的模型。通货膨胀率非常高的时期会刺激解决社会冲突，从而促进实行经济改革和实现更高水平的福利。降低通货膨胀成本的政策，例如不确定性，会提高通货膨胀率，推迟改革的实施，但对预期的社会福利没有影响。
This paper presents a model in which economic crises have positive effects on welfare. Periods of very high inflation create the incentive for the resolution of social conflict and thus facilitate the introduction of economic reforms and the achievement of higher levels of welfare. Policies to reduce the cost of inflation, such as indexation, raise inflation and delay the adoption of reforms, but have no effect on expected social welfare.