haku: @indexterm Stabilization / yhteensä: 202
viite: 46 / 202
| Tekijä: | Veiga, F. |
| Otsikko: | What causes the failure of inflation stabilization plans? |
| Lehti: | Journal of International Money and Finance
1999 : APR, VOL. 18:2, p. 169-194 |
| Asiasana: | INFLATION STABILIZATION INTERNATIONAL |
| Kieli: | eng |
| Tiivistelmä: | This paper discusses the causes of failure of inflation stabilization plans. Following a description of stylized facts of inflation stabilization, a model of Balance-of-Payments crises is presented, highlighting some of the main factors leading to the collapse of stabilizations. Empirical results obtained when estimating a binary probit model over a panel of 34 stabilizations identify real exchange rate appreciation, lack of foreign reserves, and government budget deficits as the main causes of failure of inflation stabilization plans. |
SCIMA