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Stabilisation is considered a pre-requisite for growth, as high levels of inflation create uncertainty by confusing price signals. All applicants and members of the public are asked to sign in upon arrival to ensure an accurate record of hearing attendance is maintained. The literature suggests that: i) once implemented, product and labour market reforms affect prices and quantities quite rapidly; ii) there are no major differences between the overall effects in the short and long run; iii) the costs of reforms are very much related to interactions with other policies and institutions; and iv) the costs of reforms change over the business cycle.

Pages: 256

Publisher: Kogan Page Business Books (April 2004)

ISBN: 0749440872

NEITHER CHAOS NOR RIGIDITY

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