The Perils of Sterilization

Guillermo Calvo

IMF Staff Papers, 1991, vol. 38, issue 4, 921-926

Abstract: The sterilization of capital inflows at the start of a price stabilization program may give rise to future pressures to discontinue the program as a result of the unduly high debt-service burden that the sterilization policy may generate.

JEL-codes: F31 (search for similar items in EconPapers)
Date: 1991
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