STABILISATION PLANS IN ARGENTINA: ¿WHAT HAVE WE LEARNED FROM THWARTED EXPERIENCES?

Ernesto Rezk

No 4689, Asociación Argentina de Economía Política: Working Papers from Asociación Argentina de Economía Política

Abstract: Argentina is being subject to periods of long lasting high inflation (also known as chronic inflation), in which stabilisation plans, based upon different tools (e.g.use of interest rates or monetary aggregates) fell short of being successful and various explanations were resorted io for explaining failed experiences; in this connection, whereas in some cases the blame was put on fiscal policies favouring high fiscal deficits and excessive money printing, there were also explanations seeking the cause for inflation on supply rigidities as well as on oligopolist behaviours by determined economic agents, let alone some natural causes. In trying to more precisely enquire over this long lasting problem in Argentina, as well as on the reasons for stabilisation plans´ poor performance in Argentina, the paper includes an anylisis of stylized facts during four presidential terms (period 2007-2019) based upon the theoretical content of G. Calvo´s seminal paper "Fighting Chronic Inflation with Interest Rates".

JEL-codes: E58 E63 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2023-11
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:aep:anales:4689

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