The macroeconomics of development: Selected issues
- Author: Economic Commission for Latin America and the Caribbean
- Main Title: Economic Survey of Latin America and the Caribbean 2001-2002 , pp 77-94
- Publication Date: October 2002
- DOI: https://doi.org/10.18356/20174549-en
- Language: English
This chapter reviews a number of specific issues that are particularly germane to the ongoing crisis in the region. These issues range from the crisis' effect on unemployment to the constraints facing exchange-rate, monetary and fiscal policies, and their response potential. An introductory section on macroeconomic policy limitations is followed by others which address the following issues: external constraints (sections on broad macroeconomic equilibria and net external resource transfers); the new orientation of monetary and exchange-rate policies (sections on inflation targeting, the convertibility regime in Argentina and the effect of exchange-rate depreciation on inflation); and the influence of the business cycle on unemployment rates (a section on labour-market participation and unemployment). These sections are not arranged in any particular order and are not linked to one another apart from the fact that they all relate to the same broad subject.
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