In the eighties, the relatively low ratio of U.S. national saving has been increasingly criticized. Many observers were concerned about its continued decline and the widening gap between the U.S. savings ratio and that of many other industrial countries. The savings rate decreased from an...

During the first half of the eighties, the U.S. federal deficit rose from $ 74 bn to $ 212 bn. When the Congressional Budget Office (CBO) projected in August 1985 that the deficit would further increase to $ 285 bn by 1990, the Gramm-Rudman-Hollings Act (GRH Act) was put into law. Its purpose is...

Argentina's economic development over the last thirty years has been dominated by very high and variable inflation rates. There is widespread agreement that the financial sector is most seriously affected by persistent inflation. This was also true for Argentina. Due to interest rate ceilings...

This paper focusses on the development of the financial sector under conditions of high inflation. It begins with a description of the Argentine financial sector (Section II) and then reviews three distinct periods of financial policies since the early 1970s (Section III) . In the following...

Net investment plays a crucial role for the economic development of a country. It contributes to the growth of real income and to the supply of jobs. Therefore, in view of sluggish growth and rising unemployment in Germany, the government as well as the Deutsche Bundesbank and the Council of...

There have always been fluctuations of production, employment, and prices in economic history. A lot of strenuous work and intellectual efforts have been put into the study of these fluctuations. Huge amounts of time series data have been collected and indicators have been compiled to determine...

Argentina has made the headlines of international media not only for its successful return to democratic political rules in December 1983 but also for its renewed slump into economic crisis. The country is no longer able to meet the debt servicing requirements and to repay loans due this year...

The objective of this paper is to analyse the Argentine experience of large public sector deficits and high inflation, to elaborate the collection and dynamics of the inflation tax used to public financing and to identify the economic costs of this policy. Strong references are made to the...