There is convincing empirical evidence that the cycle for exchange-rate-based disinflation in high-inflation Latin American economies typically begins with expansion and ends in recession - a surprising pattern. The authors explore whether a similar cycle can be observed in exchange-rate-based disinflation in low-inflation economies. They draw on empirical evidence from stabilizaton programs in three European countries in the early 1980s: in Denmark...
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DETAILS
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1993/02/28
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Policy Research Working Paper
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WPS1087
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1
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1
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2010/07/01
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Exchange rate based stabilization : tales from Europe and Latin America
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Exchange Rates
Citation
Ades, Alberto F.; Kiguel, Miguel; Liviatan, Nissan.
Exchange rate based stabilization : tales from Europe and Latin America (English). Policy, Research working papers ; no. WPS 1087. Transition and macro - adjustment Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/643451468770970477