{"id":4379,"date":"2012-08-23T21:37:14","date_gmt":"2012-08-23T19:37:14","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=4379"},"modified":"2012-08-27T15:18:36","modified_gmt":"2012-08-27T13:18:36","slug":"graduation-from-monetary-policy-procyclicality","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/graduation-from-monetary-policy-procyclicality\/","title":{"rendered":"Graduation from monetary policy procyclicality"},"content":{"rendered":"<p>Vegh, Carlos,\u00a0\u00a0Vuletin, Guillermo.<\/p>\n<p>How do emerging markets move from procyclical fiscal and monetary policies to countercyclical ones? This column argues that a key ingredient is stronger institutions.<\/p>\n<p>Start and stop, procyclical macroeconomic policies have been a chronic policy problem for emerging markets. Expansionary in good times and contractionary in bad times, booms become unmanageable credit expansions and ever-rising asset prices and busts turn into major recessions.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae: <\/strong>Voxeu<\/p>\n<p><a href=\"http:\/\/voxeu.org\/article\/graduation-monetary-policy-procyclicality\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vegh, Carlos,\u00a0\u00a0Vuletin, Guillermo. How do emerging markets move from procyclical fiscal and monetary policies to countercyclical ones? This column argues that a key ingredient is stronger institutions. Start and stop, procyclical macroeconomic policies have been a chronic policy problem for emerging markets. Expansionary in good times and contractionary in bad times, booms become unmanageable credit [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,39],"tags":[28,25],"class_list":["post-4379","post","type-post","status-publish","format-standard","hentry","category-18","category-39","tag-28","tag-25"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/4379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=4379"}],"version-history":[{"count":2,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/4379\/revisions"}],"predecessor-version":[{"id":4400,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/4379\/revisions\/4400"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=4379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=4379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=4379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}