The Business Cycle Associated with Exchange-rate-based Stabilization
| Author | : Miguel Alberto Kiguel |
| Publisher | : World Bank Publications |
| Total Pages | : 59 |
| Release | : 1990 |
| ISBN-10 | : |
| ISBN-13 | : |
| Rating | : 4/5 ( Downloads) |
Book Synopsis The Business Cycle Associated with Exchange-rate-based Stabilization by : Miguel Alberto Kiguel
Download or read book The Business Cycle Associated with Exchange-rate-based Stabilization written by Miguel Alberto Kiguel and published by World Bank Publications. This book was released on 1990 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disinflation programs in chronic inflation countries do not normally follow the usual Phillips curve tradeoff in the medium run. Instead of having a sharp recession in the early stage of stabilization, there often is an initial expansion of output followed by a recession and balance of payments difficulties. This pattern is related to programs that use the exchange rate as an instrument of disinflation.
