Skip to main content
Author: G Milesi-Feretti
8 results found.
Search again
Return to Latest Publications
The founders of the Bretton Woods System sixty years ago were primarily concerned with orderly exchange rate adjustment in a world economy that was characterized by widespread restrictions on international capital mobili...Read more...
Philip R. Lane and G Milesi-Feretti
December 2004
This paper studies the institutional and political determinants of capital controls in a sample of 20 OECD countries for the period 1950-1989. One of the most interesting results is that capital controls are more likely ...Read more...
A Alesina, V Grilli and G Milesi-Feretti
September 1993
Incumbents are more likely to be re-elected if they have a comparative advantage in the eyes of voters on some central issue. This paper argues that incumbents have an incentive to avoid reforms that reduce the governmen...Read more...
G Milesi-Feretti
March 1993
The paper examines cases in which from a production efficiency standpoint 'big bang' programs are superior to gradualist programs. Nevertheless, in the presence of (I) uncertainty about the exogenous shocks, (ii) depende...Read more...
F Coricelli and G Milesi-Feretti
It has long been recognized that contemporaneous wage indexation stabilizes output and employment in the face of monetary shocks, but hampers the adjustment of the economy to real shocks that require changes in the real ...Read more...
February 1993
The corporate governance problem of state enterprises in formerly centrally planned economies can give rise to excess wage claims and/or capital decumulation if workers and managers try to appropriate the firm's assets ...Read more...
October 1992
Inertial factors are one the main reasons for the persistence of inflation and the high output losses of disinflation. However the removal of these factors can be costly in terms of popularity for the government : for ex...Read more...
March 1992
Policy rules can be welfare improving if the government faces a time inconsistency problem when it chooses its optimal policy sequentially. In this paper I show that a conservative government, while favourable in princip...Read more...
October 1991