The Perils of Sterilization

International Monetary Fund

No 1990/013, IMF Working Papers from International Monetary Fund

Abstract: The paper argues that 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.

Keywords: WP; interest rate; money supply; equilibrium inflation (search for similar items in EconPapers)
Pages: 10
Date: 1990-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1990/013

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