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Monetary Policies for an MDG-Related Scaling up of ODA to Combat HIV/AIDS:Avoiding Dutch Disease Versus Supporting Fiscal Expansion

Author

Listed:
  • Matías Vernengo

    () (Assistant Professor, Department of Economics, University of Utah)

Abstract

This Conference Paper by Matias Vernengo was presented at the ?Global Conference on Gearing Macroeconomic Policies to Reverse the HIV/AIDS Epidemic?, jointly organized by UNDP?s HIV/AIDS Group and IPC and held in Brasilia, November 2006. It is part of an IPC-supported Research Programme on ?Macroeconomic Policies to Combat HIV/AIDS?. The paper maintains that the monetary policies best suited to manage the macroeconomic effects of an MDG-related scaling up of HIV/AIDS financing are those that support the needed expansion of public spending - namely, monetary policies that maintain low rates of interest, increase overall liquidity in the economy and try to achieve a relatively depreciated currency.

Suggested Citation

  • Matías Vernengo, 2007. "Monetary Policies for an MDG-Related Scaling up of ODA to Combat HIV/AIDS:Avoiding Dutch Disease Versus Supporting Fiscal Expansion," Conference Paper 2, International Policy Centre for Inclusive Growth.
  • Handle: RePEc:ipc:cpaper:2
    as

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    File URL: http://www.ipc-undp.org/pub/IPCConferencePaper2.pdf
    File Function: First version, 2007
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    References listed on IDEAS

    as
    1. Ricardo Hausmann & Lant Pritchett & Dani Rodrik, 2005. "Growth Accelerations," Journal of Economic Growth, Springer, vol. 10(4), pages 303-329, December.
    2. Roberto Frenkel & Lance Taylor, 2006. "Real Exchange Rate, Monetary Policy and Employment," Working Papers 19, United Nations, Department of Economics and Social Affairs.
    3. Arvind Subramanian & Raghuram Rajan, 2005. "What Undermines Aid’s Impact on Growth?," IMF Working Papers 05/126, International Monetary Fund.
    4. Mathías Vernengo, 2007. "Money and Inflation," Chapters,in: A Handbook of Alternative Monetary Economics, chapter 28 Edward Elgar Publishing.
    5. Matias Vernengo, 2005. "Money and Inflation: A Taxonomy," Working Paper Series, Department of Economics, University of Utah 2005_14, University of Utah, Department of Economics.
    6. Bruno, Michael & Easterly, William, 1998. "Inflation crises and long-run growth," Journal of Monetary Economics, Elsevier, vol. 41(1), pages 3-26, February.
    7. Boone, Peter, 1996. "Politics and the effectiveness of foreign aid," European Economic Review, Elsevier, vol. 40(2), pages 289-329, February.
    8. Markus Haacker & N. F. R. Crafts, 2003. "Welfare Implications of HIV/AIDS," IMF Working Papers 03/118, International Monetary Fund.
    9. David Dollar & Craig Burnside, 2000. "Aid, Policies, and Growth," American Economic Review, American Economic Association, vol. 90(4), pages 847-868, September.
    10. Minoiu, Camelia & Reddy, Sanjay G., 2010. "Development aid and economic growth: A positive long-run relation," The Quarterly Review of Economics and Finance, Elsevier, vol. 50(1), pages 27-39, February.
    11. Alessandro Prati & Thierry Tressel, 2006. "What is the Most Effective Monetary Policy for Aid-Receiving Countries?," Working Papers 12, United Nations, Department of Economics and Social Affairs.
    12. William Easterly & Ross Levine & David Roodman, 2003. "New Data, New Doubts: Revisiting "Aid, Policies, and Growth"," Working Papers 26, Center for Global Development.
    13. Michael A. Clemens & Steven Radelet & Rikhil Bhavnani, 2004. "Counting chickens when they hatch: The short-term effect of aid on growth," International Finance 0407010, EconWPA.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Poverty; MDG; HIV/AIDS; Monetary Policies;

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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