Conflict Inflation and Currency Depreciation in Latin America

Richard Burdekin and Paul Burkett
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Paul Burkett: Indiana State University

Chapter 9 in Distributional Conflict and Inflation, 1996, pp 175-201 from Palgrave Macmillan

Abstract: Abstract The German stabilization at the end of 1923 was accompanied by a currency reform and return to a gold-based fixed exchange rate system. Similar measures were taken at the end of other post-World War I hyperinflations in Europe (Sargent, 1993, Chapter 3). The initial success of these policies in ending the vicious circle of wage-push and currency depreciation may make one wonder why a similar remedy was not long ago applied to end the prolonged cycles of currency depreciation in Latin America. In this chapter, we review some of the major recent Latin American stabilization attempts, beginning with the exchange-rate-based Tablita’ programs of the 1970s.

Keywords: Exchange Rate; Real Wage; Budget Deficit; Capital Inflow; Inflationary Pressure (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37173-6_10

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DOI: 10.1057/9780230371736_10

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