De l'assouplissement des règles monétaires

Anne-Laure Delatte

Revue économique, 2005, vol. 56, issue 3, 787-797

Abstract: Contrary to all expectations, the Argentinian Currency Board was dropped without causing an hyperinflation comeback. This article analyzes the structural breaks caused by the new monetary regime. Estimates within a multivariate cointegrated framework show that the new regime caused a shift in the money market and did not in the labor market. The monetary and fiscal severity of the new regime reversed expectations while the labor market flexibility inherited from the Currency Board-made the wage-price correlation disappear.

Date: 2005
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