publication . Preprint . 1993

Exchange rate based stabilization : tales from Europe and Latin America

Ades, Alberto F.; Kiguel, Miguel; Liviatan, Nissan;
Open Access
  • Published: 28 Feb 1993
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 (1982), Ireland (1982), and France (1983). In these programs, the authorities fixed the central parity of the exchange rate band against the European currency unit (ECU). This represented a break from previous years ...
free text keywords: Environmental Economics&Policies,Economic Theory&Research,Economic Stabilization,Macroeconomic Management,Banks&Banking Reform

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