Inflation and the Costs of Stabilization: Historical and Recent Experiences and Policy Lessons

Andres Solimano ()

The World Bank Research Observer, 1990, vol. 5, issue 2, 167-85

Abstract: This article reviews various experiences with stabilization. It first examines stabilization programs in the context of hyperinflation--looking at the experiences of Austria and Germany in the early 1920s and Bolivia in 1985--and then reviews and interprets the results of orthodox stabilization plans (applied in Argentina, Chile, and Uruguay during the mid-1970s and early 1980s) and those of heterodox programs (the austral plan in Argentina and the cruzado plan in Brazil, with a glance at the Mexican and Israeli experiences). The paper concludes with a discussion of conceptual issues and implications for the design of stabilization policies. Copyright 1990 by Oxford University Press.

Date: 1990
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