WorldCat Identities

Wijnbergen, Sweder van 1951-

Works: 232 works in 768 publications in 1 language and 3,286 library holdings
Genres: Conference papers and proceedings  Longitudinal studies 
Roles: Author, Editor, Honoree, Other
Publication Timeline
Most widely held works by Sweder van Wijnbergen
Natural resources and the macroeconomy by J. Peter Neary( Book )

18 editions published between 1985 and 1986 in English and held by 427 WorldCat member libraries worldwide

External debt, fiscal policy, and sustainable growth in Turkey by Sweder van Wijnbergen( Book )

10 editions published in 1992 in English and held by 193 WorldCat member libraries worldwide

Policy analysis of shadow pricing, foreign borrowing, and resource extraction in Egypt by Kemal Derviş( Book )

10 editions published between 1983 and 1984 in English and held by 114 WorldCat member libraries worldwide

Interest rate management in developing countries : theory and simulation results for Korea by Sweder van Wijnbergen( Book )

11 editions published between 1983 and 1984 in English and held by 102 WorldCat member libraries worldwide

Short-run macro-economic adjustment policies in South Korea : a quantitative analysis by Sweder van Wijnbergen( Book )

10 editions published between 1981 and 1982 in English and held by 94 WorldCat member libraries worldwide

Quantitative Approaches To Fiscal Sustainability Analysis A New World Bank Tool Applied To Turkey by Nina Budina( )

12 editions published between 2007 and 2012 in English and Undetermined and held by 68 WorldCat member libraries worldwide

Fiscal sustainability analysis (FSA) is an important component of macroeconomic analysis. The authors review various quantitative approaches to FSA with a major objective to bring these approaches together and to present a user-friendly tool for FSA that reflects modern developments. They combine a dynamic simulations approach with a simplified version of the steady-state consistency approach. They also incorporate two different methods to deal with uncertainty: user-defined stress tests and stochastic simulations. The tool goes further by evaluating the required fiscal adjustment as a consequence of the stochastic realizations of the exogenous variables. Furthermore, the fiscal sustainability tool incorporates an endogenous debt feedback rule for the primary surplus, a fiscal policy reaction function. Besides outlining the theoretical framework, the authors also present a case study for Turkey
Fiscal Deficits, Monetary Reform, and Inflation Stabilization in Romania by Nina Budina( )

9 editions published in 2000 in English and Undetermined and held by 66 WorldCat member libraries worldwide

E group to study transition economies. The authors may be contacted at or
Interest rates, growth and external debt : the macroeconomic impact of Mexico's Brady deal by Stijn Claessens( Book )

13 editions published between 1993 and 1994 in English and held by 55 WorldCat member libraries worldwide

Enterprise reform in Eastern Europe by Sweder van Wijnbergen( Book )

17 editions published between 1992 and 1993 in English and Undetermined and held by 50 WorldCat member libraries worldwide

Signalling, wage controls and monetary disinflation policy by Torsten Persson( Book )

15 editions published between 1988 and 1989 in English and held by 47 WorldCat member libraries worldwide

Wage and price controls have a long and somewhat disreputable history, presumably because of their frequent use in many countries as short run substitutes for measurewith more lasting effects on the inflation rate. But, in 1985 and 1986, Argentina, Brazil, and Israel used extensive wage-price controls as part of more comprehensive disinflation programs, .often labeled "heterodox" stabilization programs. To date, the Israeli stabilization seems to have succeeded, while the Argentinean and Brazilian stabi1izations have clearly ended in failure. This experience raises many questions. One view is that controlling one nominal variable, namely the money supply, is enough to bring down inflation provided that sound fiscal policies are also adopted. Therefore, wage and price controls should be avoided, because of their microeconomic costs. It is clear that controls do have microeconomic costs, but can they also have macroeconomic benefits? Under which circumstances do controls help in bringing down inflation, and when do they just suppress it temporarily? What is the required supporting role of fiscal and monetary policy while they are in place? These are the issues addressed in this paper
Fiscal deficits, exchange rate crises and inflation by Sweder van Wijnbergen( Book )

19 editions published between 1985 and 1987 in English and held by 41 WorldCat member libraries worldwide

The analysis focuses on the government budget constraint and the resolution of inconsistent implications of different policy instruments under that constraint. We show how, under floating exchange rates, external shocks or internal structural reforms may cause jumps in inflation and the exchange rate through their impact on the government budget. In order to achieve a sustainable reduction in inflation an exchange rate freeze or crawling peg is shown to require restrictions not only on domestic credit, but also on the rate of increase in interest-bearing public debt. We endogenize regime collapse by introducing rational speculation against the central bank, and show that if an exchange rate freeze collapses, post-collapse inflation will exceed the rate prevailing before the freeze started
Capital controls and the real exchange rate by Sweder van Wijnbergen( Book )

13 editions published between 1985 and 1989 in English and held by 39 WorldCat member libraries worldwide

Using an intertemporal, two-country general equilibrium model, I demonstrate that international asymmetries in expenditure patterns determine the real exchange rate effects of capital controls. Capital import taxes lower world interest rates, but raise home interest rates. These changes in interest rates bring about a change in the composition of world expenditure, with a shift of home expenditure from the present ('today') to the future ('tomorrow'), and a shift of foreign aggregate expenditure from tomorrow to today. If the pattern of expenditure across commodities is the same at home and abroad, the change in the composition of world expenditure has no effects on the (excess) demand for any particular commodity. Therefore, with identical expenditure patterns at home and abroad, the imposition of capital controls has no effect on the real exchange rate. However, when consumers have a preference for domestically produced goods, the shift in composition of world expenditure caused by interest rate changes implies a decline in demand today for home goods. In that case, capital controls lower the real exchange rate. Of course, in period two the reverse happens. This result is mitigated when the country imposing capital controls is a large debtor
Tariffs, employment and the current account : real wage resistance and the macroeconomics of protectionism by Sweder van Wijnbergen( Book )

13 editions published between 1984 and 1987 in English and held by 35 WorldCat member libraries worldwide

Using a standard complete specialization model of a small open economy within a rigorous intertemporal optimization framework with contract- based wage rigidity, we show that permanent tariffs may lead to a current account deterioration and a fall in employment, contradicting most of the literature of macro-economic effects of import tariffs. I show that this will always be the case if the economy is small enough. The crucial factor in this complete reversal of standard results is the impact of tariffs on domestic real product wages via wage indexation. Temporary tariffs will have less of a negative impact on the CA or potentially even a positive impact, because they increase the consumption rate of interest (the terms at which future consumption can be traded for current consumption) and so increase private savings. Extensions towards incorporating a more general production structure, investment and the use of tariff revenues to provide wage subsidies are presented
Inflation, external debt and financial sector reform : a quantitative approach to consistent fiscal policy with an application to Turkey by Ritu Anand( Book )

9 editions published in 1988 in English and held by 32 WorldCat member libraries worldwide

This paper presents and applies an integrated framework to assess the consistency between fiscal deficits and other macroeconomic targets, such as output growth and the rate of inflation. The model centers around the government budget constraint and can be used to either derive the financeable deficit given inflation targets, or to derive an equilibrium inflation rate for which no fiscal adjustment would be necessary. The financeable deficit is defined as the deficit that does not require more financing than is compatible with sustainable external and internal borrowing, and existing targets for inflation and output growth. The model can assess the impact on the relation between fiscal adjustment and sustainable inflation rates of financial sector reforms affecting base money demand, of changes in interest rates paid on foreign and domestic public sector debt, of output growth targets and of exchange rate policy. The analysis furthermore incorporates an approach, due to Cohen (1986), to the derivation of a sustainable external debt policy. Finally, the model can also be used to see what happens if the required fiscal adjustment is postponed. We explore two alternatives: one where fiscal adjustment takes place eventually, and one where the inflation tax is used eventually to close any financing gap. The model is applied to an analysis of inflation, external debt and financial sector reform in Turkey
Monopolistic competition, credibility and the output costs of disinflation programs : an analysis of price controls by Sweder van Wijnbergen( Book )

8 editions published in 1987 in English and held by 28 WorldCat member libraries worldwide

Brazil, Argentina and Israel all used price controls as part of disinflation programs in 1985-1986. In each case they were intended to break an "inertial" component of inflation. This paper focuses on a specific mechanism through which inflation inertia can emerge: the interaction between lack of credibility of government monetary policy announcements and the price setting behavior of forward looking firms. We show that this interaction can lead to inertia extending well beyond the price setting period; that is important since the price setting period is likely to be short in high inflation economies. We develop an open economy macromodel in which firms set prices before uncertainty about government monetary policy is resolved. Lack of credibility is then shown to lead to output losses during a disinflation program. We demonstrate the effects of price controls and show that their temporary use can be defended on welfare grounds. The paper analyzes asset price behavior during disinflation programs with and without price controls and the influence of credibility problems. We discuss nominal and real interest rates, the stock market and exchange rates. Finally we show that if past government policy has any information content about future government policy, cheating on current announcements of tight policy buys current employment gains during the price control period at the cost of higher inflation afterwards. Sustaining low inflation after the price control period thus requires restrictive monetary policy during the price control period
Excess capacity, monopolistic competition, and international transmission of monetary disturbances by Lars E. O Svensson( Book )

9 editions published between 1987 and 1990 in English and held by 27 WorldCat member libraries worldwide

A stochastic two-country neoclassical rational expectations model with sticky prices -- optimally set by monopolistically competitive firms -- and possible excess capacity is developed to examine international spillover effects on output of monetary disturbances. The Mundell-Fleming model predicts that monetary expansion at home leads to recession abroad. In contrast, our main result is that spillover effects of monetary policy may be either positive or negative, depending upon whether the intertemporal elasticity of substitution in consumption exceeds the intratemporal elasticity of substitution. The model in addition is used to determine nominal and real interest rates, exchange rates, and other asset prices
Tariffs, the real exchange rate and the terms of trade : on two popular propositions in international economics by Sebastian Edwards( Book )

11 editions published between 1987 and 1989 in English and held by 23 WorldCat member libraries worldwide

In this paper we investigate the relation between tariff changes, terms of trade changes and the equilibrium real exchange rate. For this purpose we use two models of a small open economy: (1) a three goods version of the Ricardo-Viner model; and (2) a three goods model with full intersectoral factor mobility. We show that, in general, it is not possible to know how the equilibrium real exchange rate will respond to these two disturbances. Moreover, we show that the traditional wisdom that establishes that a tariff hike will always result in a real appreciation, while a terms of trade worsening will generate an equilibrium real depreciation, is incorrect
Financial policy and speculative runs with a crawling peg : Argentina 1979-1981 by Robert E Cumby( Book )

6 editions published in 1987 in English and held by 22 WorldCat member libraries worldwide

In this paper we present a model of a balance-of-payments crisis and use it to examine the Argentine experiment with a crawling peg between December 1978 and February 1981. The approach taken allows us to examine the evolution of a crisis when the collapse is not a perfectly-foreseen event. The implementation of the model yields plausible values of the one-month ahead probabilities of a collapse of the crawling peg. The probabilities exhibit a sharp increase in the middle of 1980 and indicate a significant loss of credibility throughout the remainder of the year. The results suggest that viability of an exchange rate regime depends strongly on the domestic credit policy followed by the authorities. If this policy is not consistent with the exchange rate policy pursued by the authorities, confidence in the exchange rate policy is undermined
The welfare effects of trade and capital market liberalization : consequences of different sequencing scenarios by Sebastian Edwards( Book )

10 editions published between 1983 and 1986 in English and held by 16 WorldCat member libraries worldwide

This paper deals with the dynamics of trade and capital account liberalization in a developing country. The welfare consequences of trade and capital account liberalization under alternative sequencing scenarios are investigated. We draw on standard trade theory results to show that the opening of the capital account in the presence of trade distortions may be welfare reducing if foreign borrowing is used to increase investment. However we demonstrate that this welfare reducing effect of opening the capital account will not occur if shadow prices are used to guide investment decisions. It is then shown that if capital market restrictions fall disproportionally on investment (as opposed to consumption) a gradual reduction of import tariffs is superior to an abrupt trade liberalization
Learning dynamics and support for economic reforms : why good news can be bad by Sweder van Wijnbergen( )

2 editions published in 2014 in Undetermined and English and held by 0 WorldCat member libraries worldwide

Support for economic reforms has often shown puzzling dynamics: many reforms that began successfully lost public support. This paper shows that learning dynamics can rationalize this paradox because the process of revealing reform outcomes is an example of sampling without replacement. This concept challenges the conventional wisdom that one should begin by revealing reform winners. It may also lead to situations in which reforms that enjoy both ex ante and ex post majority support will still not come to completion. The framework can be used to explain why gradual reforms worked well in China (where successes in Special Economic Zones facilitated further reform), whereas this was much less the case for Latin American and Central and Eastern European countries
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Alternative Names
Sweder van Wijnbergen Dutch economist

Sweder van Wijnbergen Nederlands econoom

Van Wijnbergen, Sweder.

Van Wijnbergen, Sweder 1951-

Van Wijnbergen, Sweder J. G. 1951-

VanWijnbergen, Sweder J. G. 1951-

Wijmbergen, S. van 1951-

Wijmbergen, S. van (Sweder), 1951-

Wijnbergen, S.J.G. van

Wijnbergen, S. J. G. van 1951-

Wijnbergen, S. van 1951-

Wijnbergen, S. van (Sweder), 1951-

Wijnbergen, Sweder J. G. van 1951-

Wijnbergen, Sweder J. van 1951-

Wijnbergen Sweder van

English (220)