Stanley Fischer
Datos Biográficos
| ID | 3604840 |
|---|---|
| NOMBRE | Stanley Fischer |
| NOMBRES | Stanley |
| APELLIDO | Fischer |
| FIRMA | FISCHER S |
| AFILIACIONES | International Monetary Fund |
| VERIFICADO | No |
| TOTAL DE OBRAS | 41 |
| TOTAL DE CITAS | 358 |
| TOTAL COMO AUTOR | 41 |
| TOTAL COMO EDITOR | 0 |
| PRIMER AÑO DE PUBLICACIÓN | 1971 |
| AÑO MÁS RECIENTE DE PUBLICACIÓN | 2004 |
| ÍNDICE H | 10 |
IMF Essays from a Time of Crisis
Stanley Fischer served as First Deputy Managing Director of the International Monetary Fund from 1994 to 2001. IMF Essays from a Time of Crisis collects sixteen essays written for the most part during his time at the IMF, each updated with Fischer's later reflections on the issues raised. IMF drew much criticism for some of its actions during Fischer's tenure, and he vigorously defends the battlefield medicine practiced by the IMF during a series…
Inflation and the Poor
Economic Developments in the West Bank and Gaza Since Oslo
The performance of the Palestinian economy in 1994–2000 was uneven, but for the period as a whole, real per capita income declined despite the mobilisation of substantial amounts of foreign aid and despite considerable progress in establishing a basic institutional framework. This paper argues that economic growth and private investment, in particular, have been adversely affected by closures, by uncertainties about political developments and the…
Distinguished Lecture on Economics in Government-Exchange Rate Regimes
The bipolar or two-corner solution view of exchange rates is that intermediate policy regimes between hard pegs and floating are not sustainable. This paper argues that the proponents of the bipolar view have probably exaggerated their point. The right statement is that for countries open to international capital flows, softly pegged exchange rates are crisis-prone and not sustainable over long periods. However, a wide variety of flexible rate ar…
Inflation and the Poor
May 2000 - The poor suffer more from inflation than the rich do, reveals this survey of poor people in 38 countries. Using polling data for 31,869 households in 38 countries and allowing for country effects, Easterly and Fischer show that the poor are more likely than the rich to mention inflation as a top national concern. This result survives several robustness checks. Also, direct measures of improvements in well-being for the poor - the chang…
Strengthening the International Financial System
Reforming the International Financial System
On the Need for an International Lender of Last Resort
Is there a useful function for an international lender of last resort (ILLR)--defined as crisis lender and crisis manager? Yes for international capital flows are excessively volatile and contagious, and because an ILLR can help mitigate the effects of this instability. I examine the Bagehot rules, and their applicability in an international context, focusing on the problem of moral hazard. I argue that a critical condition for the successful ope…
In Defense of the IMF
Stanley Fischer
The Future of Central Banking
This volume contains two major papers prepared for the Bank of England's Tercentenary Symposium in June 1994. The first, by Forrest Capie, Charles Goodhart and Norbert Schnadt, provides an authoritative account of the evolution of central banking. It traces the development of both the monetary and financial stability concerns of central banks, and includes individual sections on the evolution and constitutional positions of 31 central banks from …
The Future of Central Banking
This volume contains two major papers prepared for the Bank of England's Tercentenary Symposium in June 1994. The first, by Forrest Capie, Charles Goodhart and Norbert Schnadt, provides an authoritative account of the evolution of central banking. The second paper, by Stanley Fischer, explores the major policy dilemmas now facing central bankers. Important contributions by leading central bankers from around the world, and the related Per Jacobse…
The Future of Central Banking
Stabilization and Growth in Transition Economies
The authors analyze the growth and stabilization experience in twenty-six transition economies in Eastern Europe, the former Soviet Union, and Mongolia for the period 1989-94. Inflation rates have declined significantly in most countries following an inflation stabilization program. Typically, stabilization has been followed by growth within two years; and growth does not occur without stabilization. Reducing inflation thus appears to be a precon…
Economic Reform and the Process of Global Integration
Jeffrey D. Sachs, Andrew Warner, , Stanley Fischer, Economic Reform and the Process of Global Integration, Brookings Papers on Economic Activity, Vol. 1995, No. 1, 25th Anniversary Issue (1995), pp. 1-118
The Economics of Middle East Peace
Journal Article The Economics of Middle East Peace: Views from the Region. Get access The Economics of Middle East Peace: Views from the Region. Edited by Fischer Stanley, Rodrik Dani and Tuma Elias. (Cambridge, Mass. and London: MIT Press, 1993. Pp. xii + 353. £38.25 hardback. ISBN 0 262 06153 8.) Haim Barkai Haim Barkai The Hebrew University of Jerusalem Search for other works by this author on: Oxford Academic Google Scholar The Economic Journ…
Structural Factors in the Economic Reforms of China, Eastern Europe, and the Former Soviet Union
Reform in China and Russia Jeffrey Sachs and Wing Thye Woo China's experience does not show that gradual reform is superior to the shock therapy undertaken in Eastern Europe and the Former Soviet Union (EEFSU). Differing performance primarily reflects different economic structures prior to reform: China was a peasant agricultural society, EEFSU was urban and overindustrialized. In both, jobs in state enterprises were so heavily subsidized that wo…
Economic Transition in the Occupied Territories. An Interview with Stanley Fischer
Economic Transition in the Occupied Territories. An Interview with Stanley Fischer
Securing Peace in the Middle East
and conclusions, Stanley Fischer and Thomas C. Schelling agriculture, industry, services, and trade, Raymond Vernon Palestinian-Israeli-Jordanian labour mobility - the current situation and issues for a peaceful future, Richard B. Freeman institutional structure for the Palestinian economy during the transition period, Henry Rosovsky fiscal management, Thomas C. Schelling financial and monetary arrangements in the Palestinian transition, Lester C…
The role of macroeconomic factors in growth
Building Palestinian Prosperity
The Economics of Middle East Peace
The Process of Socialist Economic Transformation
In this paper, we consider the reform process in those Central and East European countries that have made the decision to move from a more-or a less-planned socialist system to a private market economy, one in which private ownership predominates and most resources are allocated through markets. Because the reform process is both complex and intertwined with political factors-especially the shift towards representative democracy-and because there…
Creating a Market Economy in Eastern Europe
Case o f Poland THE POLITICAL and intellectual leaders of Eastern Europe's revolution of 1989 describe their aim as a "return to Europe." Their overwhelming judgment is that the postwar division of Europe into East and West was artificially imposed by the Soviet Union, at enormous human and economic cost. They underscore the artificiality of the division by referring to their region as East Central Europe (or Middle Europe), rather than Eastern E…
Stock Prices and Social Dynamics
Prices and Social DynamicsFashion is the great governor of this world; it presides not only in matters of dress and amusement, but in law, physic, politics, religion, and all other things of the gravest kind; indeed, the wisest of men would be puzzled to give any better reason why particular forms in all these have been at certain times universally received, and at others universally rejected, than that they were in or out of fashion. Henry Field…
Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule
The paper is concerned with the role of monetary policy and argues that activist monetary policy can affect the behavior of real output, rational expectations notwithstanding. A rational expectations model with overlapping labor contracts is constructed, with each labor contract being made for two periods. These contracts inject an element of short-run wage stickiness into the model. Because the money stock is changed by the monetary authority mo…
Lectures on Macroeconomics
Seigniorage and the Case for a National Money
In countries with high rates of inflation there is typically movement away from the use of the local currency. The paper analyzes the costs and benefits of using a local currency, with emphasis on the seigniorage foregone by using a foreign money. Even if it should be desirable for a country to fix its exchange rate, it still loses seigniorage if it does not use its own money. The case for using a foreign money then turns largely on the superior …
The Future of Central Banking
This volume contains two major papers prepared for the Bank of England's Tercentenary Symposium in June 1994. The first, by Forrest Capie, Charles Goodhart and Norbert Schnadt, provides an authoritative account of the evolution of central banking. The second paper, by Stanley Fischer, explores the major policy dilemmas now facing central bankers. Important contributions by leading central bankers from around the world, and the related Per Jacobse…
The Process of Socialist Economic Transformation
In this paper, we consider the reform process in those Central and East European countries that have made the decision to move from a more-or a less-planned socialist system to a private market economy, one in which private ownership predominates and most resources are allocated through markets. Because the reform process is both complex and intertwined with political factors-especially the shift towards representative democracy-and because there…
Distinguished Lecture on Economics in Government-Exchange Rate Regimes
The bipolar or two-corner solution view of exchange rates is that intermediate policy regimes between hard pegs and floating are not sustainable. This paper argues that the proponents of the bipolar view have probably exaggerated their point. The right statement is that for countries open to international capital flows, softly pegged exchange rates are crisis-prone and not sustainable over long periods. However, a wide variety of flexible rate ar…
Stabilization and Growth in Transition Economies
The authors analyze the growth and stabilization experience in twenty-six transition economies in Eastern Europe, the former Soviet Union, and Mongolia for the period 1989-94. Inflation rates have declined significantly in most countries following an inflation stabilization program. Typically, stabilization has been followed by growth within two years; and growth does not occur without stabilization. Reducing inflation thus appears to be a precon…
On the Need for an International Lender of Last Resort
Is there a useful function for an international lender of last resort (ILLR)--defined as crisis lender and crisis manager? Yes for international capital flows are excessively volatile and contagious, and because an ILLR can help mitigate the effects of this instability. I examine the Bagehot rules, and their applicability in an international context, focusing on the problem of moral hazard. I argue that a critical condition for the successful ope…
Economic Developments in the West Bank and Gaza Since Oslo
The performance of the Palestinian economy in 1994–2000 was uneven, but for the period as a whole, real per capita income declined despite the mobilisation of substantial amounts of foreign aid and despite considerable progress in establishing a basic institutional framework. This paper argues that economic growth and private investment, in particular, have been adversely affected by closures, by uncertainties about political developments and the…
Recent Developments in Macroeconomics
Journal Article Recent Developments in Macroeconomics Get access Stanley Fischer Stanley Fischer Massachusetts Institute of Technology Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 98, Issue 391, 1 June 1988, Pages 294–339, https://doi.org/10.2307/2233370 Published: 01 June 1988
Inflation Stabilization
Inflation Stabilization: The Experience of Israel, Argentina, Brazil, Bolivia and Mexico. Edited by MICHAEL BRUNO, GUIDO DI TELLA, RUDIGER DORNBUSCH and STANLEY FISCHER. (Cambridge, MA and London: The MIT Press, 1988. Pp. xi + 419. £24.75 hardback. ISBN 0 262 02279 6.)
Reforming the International Financial System
Rational Expectations and Economic Policy
Journal Article Rational Expectations and Economic Policy Get access Rational Expectations and Economic Policy. Edited by STANLEY FISCHER. (Chicago: University of Chicago Press, 1980. Pp. ix + 293. £13-2°> $28.60.) G. K. Shaw G. K. Shaw University of East Anglia Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 90, Issue 360, 1 December 1980, Pages 922–924, https://doi.org/10.2307/2231757 Publis…
The Demand for Index Bonds
The demand for index bonds by households is studied in an inter-temporal optimization model in which households can choose a portfolio consisting of equity, nominal bonds, and index bonds. The rate of inflation is uncertain. In a setting where all income is from capital gains, it is shown that index bonds command a premium over nominal bonds only if equity is not a hedge against inflation; it is also shown that, if there are homogeneous expectati…
In Defense of the IMF
Securing Peace in the Middle East
and conclusions, Stanley Fischer and Thomas C. Schelling agriculture, industry, services, and trade, Raymond Vernon Palestinian-Israeli-Jordanian labour mobility - the current situation and issues for a peaceful future, Richard B. Freeman institutional structure for the Palestinian economy during the transition period, Henry Rosovsky fiscal management, Thomas C. Schelling financial and monetary arrangements in the Palestinian transition, Lester C…
Anticipations and the Nonneutrality of Money
This paper examines the responses of the capital stock, output, and the price level to changes in the money stock in a neoclassical growth model in which money may not be neutral. The nonneutrality of money stems from the Tobin effect--the effect of anticipated inflation on capital accumulation. The adjustment of prices and output to monetary changes is shown not only to depend on whether the change is anticipated or not but also on the date at w…
Stabilization Policy and Lags
The effects of the length and variability of lags on the conduct of stabilization policy are studied using linear difference equation models. It is shown that long lags by themselves do not impair the effectiveness of active stabilization policy and in fact require its more vigorous use. Variability in lags does reduce the effectiveness of stabilization policy and requires its more cautious use; the relative performance of alternative policies de…
IMF Essays from a Time of Crisis
Stanley Fischer served as First Deputy Managing Director of the International Monetary Fund from 1994 to 2001. IMF Essays from a Time of Crisis collects sixteen essays written for the most part during his time at the IMF, each updated with Fischer's later reflections on the issues raised. IMF drew much criticism for some of its actions during Fischer's tenure, and he vigorously defends the battlefield medicine practiced by the IMF during a series…
The Economics of Middle East Peace
Journal Article The Economics of Middle East Peace: Views from the Region. Get access The Economics of Middle East Peace: Views from the Region. Edited by Fischer Stanley, Rodrik Dani and Tuma Elias. (Cambridge, Mass. and London: MIT Press, 1993. Pp. xii + 353. £38.25 hardback. ISBN 0 262 06153 8.) Haim Barkai Haim Barkai The Hebrew University of Jerusalem Search for other works by this author on: Oxford Academic Google Scholar The Economic Journ…
Building Palestinian Prosperity
The Economics of Middle East Peace
A Framework for Monetary and Banking Analysis
The paper sets out and analyzes a simple model of money, banking, and price level determination. The model is first used to illustrate recent developments in the theory and analysis of banking, particularly the distinction between the portfolio management services provided by banks and their provision of transactions services. The assumptions are then extended to analyze price level determination in an economy that becomes an inside money economy…
Substitution and Complementarity
Stabilization Policy and Lags
The effects of the length and variability of lags on the conduct of stabilization policy are studied using linear difference equation models. It is shown that long lags by themselves do not impair the effectiveness of active stabilization policy and in fact require its more vigorous use. Variability in lags does reduce the effectiveness of stabilization policy and requires its more cautious use; the relative performance of alternative policies de…
The Demand for Index Bonds
The demand for index bonds by households is studied in an inter-temporal optimization model in which households can choose a portfolio consisting of equity, nominal bonds, and index bonds. The rate of inflation is uncertain. In a setting where all income is from capital gains, it is shown that index bonds command a premium over nominal bonds only if equity is not a hedge against inflation; it is also shown that, if there are homogeneous expectati…
Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule
The paper is concerned with the role of monetary policy and argues that activist monetary policy can affect the behavior of real output, rational expectations notwithstanding. A rational expectations model with overlapping labor contracts is constructed, with each labor contract being made for two periods. These contracts inject an element of short-run wage stickiness into the model. Because the money stock is changed by the monetary authority mo…
Anticipations and the Nonneutrality of Money
This paper examines the responses of the capital stock, output, and the price level to changes in the money stock in a neoclassical growth model in which money may not be neutral. The nonneutrality of money stems from the Tobin effect--the effect of anticipated inflation on capital accumulation. The adjustment of prices and output to monetary changes is shown not only to depend on whether the change is anticipated or not but also on the date at w…
Macroeconomics
Rational Expectations and Economic Policy
Journal Article Rational Expectations and Economic Policy Get access Rational Expectations and Economic Policy. Edited by STANLEY FISCHER. (Chicago: University of Chicago Press, 1980. Pp. ix + 293. £13-2°> $28.60.) G. K. Shaw G. K. Shaw University of East Anglia Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 90, Issue 360, 1 December 1980, Pages 922–924, https://doi.org/10.2307/2231757 Publis…
Rational Expectations and Economic Policy
Seigniorage and the Case for a National Money
In countries with high rates of inflation there is typically movement away from the use of the local currency. The paper analyzes the costs and benefits of using a local currency, with emphasis on the seigniorage foregone by using a foreign money. Even if it should be desirable for a country to fix its exchange rate, it still loses seigniorage if it does not use its own money. The case for using a foreign money then turns largely on the superior …
A Framework for Monetary and Banking Analysis
The paper sets out and analyzes a simple model of money, banking, and price level determination. The model is first used to illustrate recent developments in the theory and analysis of banking, particularly the distinction between the portfolio management services provided by banks and their provision of transactions services. The assumptions are then extended to analyze price level determination in an economy that becomes an inside money economy…
Stock Prices and Social Dynamics
Prices and Social DynamicsFashion is the great governor of this world; it presides not only in matters of dress and amusement, but in law, physic, politics, religion, and all other things of the gravest kind; indeed, the wisest of men would be puzzled to give any better reason why particular forms in all these have been at certain times universally received, and at others universally rejected, than that they were in or out of fashion. Henry Field…
Symposium on the Slowdown in Productivity Growth
The growth slowdown that began in the late 1960s or early 1970s is the most significant macroeconomic development of the last two decades. The four papers in this symposium address the question of the causes of the growth slowdown and, to a lesser extent, what might be done about it
Recent Developments in Macroeconomics
Journal Article Recent Developments in Macroeconomics Get access Stanley Fischer Stanley Fischer Massachusetts Institute of Technology Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 98, Issue 391, 1 June 1988, Pages 294–339, https://doi.org/10.2307/2233370 Published: 01 June 1988
Lectures on Macroeconomics
Inflation Stabilization
Inflation Stabilization: The Experience of Israel, Argentina, Brazil, Bolivia and Mexico. Edited by MICHAEL BRUNO, GUIDO DI TELLA, RUDIGER DORNBUSCH and STANLEY FISCHER. (Cambridge, MA and London: The MIT Press, 1988. Pp. xi + 419. £24.75 hardback. ISBN 0 262 02279 6.)
Creating a Market Economy in Eastern Europe
Case o f Poland THE POLITICAL and intellectual leaders of Eastern Europe's revolution of 1989 describe their aim as a "return to Europe." Their overwhelming judgment is that the postwar division of Europe into East and West was artificially imposed by the Soviet Union, at enormous human and economic cost. They underscore the artificiality of the division by referring to their region as East Central Europe (or Middle Europe), rather than Eastern E…
Lectures on Macroeconomics
Journal Article Lectures on Macroeconomics Get access Lectures on Macroeconomics. By OLIVIER JEAN BLANCHARD and STANLEY FISCHER. (Cambridge, Mass. and London: MIT Press, 1989. Pp. xiii + 650. £24.75 hardback. ISBN 0 262 02283 4.) David Gowland David Gowland University of York Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 100, Issue 399, 1 March 1990, Pages 252–254, https://doi.org/10.2307/22…
The Process of Socialist Economic Transformation
In this paper, we consider the reform process in those Central and East European countries that have made the decision to move from a more-or a less-planned socialist system to a private market economy, one in which private ownership predominates and most resources are allocated through markets. Because the reform process is both complex and intertwined with political factors-especially the shift towards representative democracy-and because there…
The role of macroeconomic factors in growth
Building Palestinian Prosperity
The Economics of Middle East Peace
Structural Factors in the Economic Reforms of China, Eastern Europe, and the Former Soviet Union
Reform in China and Russia Jeffrey Sachs and Wing Thye Woo China's experience does not show that gradual reform is superior to the shock therapy undertaken in Eastern Europe and the Former Soviet Union (EEFSU). Differing performance primarily reflects different economic structures prior to reform: China was a peasant agricultural society, EEFSU was urban and overindustrialized. In both, jobs in state enterprises were so heavily subsidized that wo…
Economic Transition in the Occupied Territories. An Interview with Stanley Fischer
Economic Transition in the Occupied Territories. An Interview with Stanley Fischer
Securing Peace in the Middle East
and conclusions, Stanley Fischer and Thomas C. Schelling agriculture, industry, services, and trade, Raymond Vernon Palestinian-Israeli-Jordanian labour mobility - the current situation and issues for a peaceful future, Richard B. Freeman institutional structure for the Palestinian economy during the transition period, Henry Rosovsky fiscal management, Thomas C. Schelling financial and monetary arrangements in the Palestinian transition, Lester C…
Economics (30 obras) · Political science (22 obras) · Macroeconomics (12 obras) · Economic Theory and Policy (11 obras) · Monetary economics (11 obras) · Monetary policy (11 obras) · Economic history (9 obras) · Economic theories and models (9 obras) · Business (8 obras) · Computer Science (8 obras)