- Title Pages
- Title Pages
- Chapter 1 An Introduction to Roberto Frenkel’s Contributions to the Economic Ideas in Latin America
- Chapter 2 Markups Under Uncertainty
- Chapter 3 Financial Fragility, Price Indexes, and Investment Financing
- Chapter 4 Uncertainty in Structural and Institutional Parameters and the Cost of Policy Mistakes
- Chapter 5 Monetary Policy and External Shocks in a Semidollarized Economy
- Chapter 6 The Chilean Economy Since the Global Crisis
- Chapter 7 Disequilibria and Risk Premia
- Chapter 8 Labor Market and Income Distribution in Latin America in Times of Economic Growth
- Chapter 9 Accounting for the Rise and Fall of Brazil’s Growth After World War II
- Chapter 10 Balance-of-Payments Dominance
- Chapter 11 The Real Exchange Rate, the Real Wage, and Growth
- Chapter 12 The Real Exchange Rate and Economic Growth
- Chapter 13 Capitalism and Financial Crises
- Chapter 14 Financial Crises, Institutions, and the Macroeconomy
- Chapter 15 United States Size Distribution and the Macroeconomy 1986–2009
- Chapter 16 Sovereign Credit Risk in Latin America and Global Common Factors
- Chapter 17 Cognitive Dissonance
- Chapter 18 New Developmentalism as a Weberian Ideal Type
Implications for Macroeconomic Policy
- (p.211) Chapter 10 Balance-of-Payments Dominance
- Macroeconomics and Development
José Antonio Ocampo
- Columbia University Press
this chapter discusses what the author calls the balance of payments dominance on macroeconomic policy, defined as a macroeconomic regime in which short-term dynamics is largely determined by external, mainly financial, shocks. Typically emerging market economies suffer from this dominance and are prone to boom-and-bust cycles led by external financial shocks.
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