search query: @indexterm EXCHANGE RATES / total: 1242
reference: 145 / 1242
| Author: | Rigobon, R. |
| Title: | Disinflation and fiscal reform: a neoclassical perspective |
| Journal: | Journal of International Economics
2002 : DEC, VOL. 58:2, p. 265-297 |
| Index terms: | Exchange rates Stabilization |
| Language: | eng |
| Abstract: | The authors show that if the reform process is uncertain and inflation has welfare costs, the optimal exchange rate policy indeed implies the initiation of a disinflation program at the announcement of the fiscal reform, even if it implies the possibility of a balance of payments crisis. It is optimal to engage in a sequence of stabilization programs until one of them is successful. |
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