Assessing the impact of different nominal anchors on the credibility of stabilisation programmes
Peter A. Prazmowski and
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Peter A. Prazmowski: American Chamber of Commerce of the Dominican Republic
No 2012-1, Economics Discussion Papers from School of Economics, Kingston University London
The paper compares the impact of announcing exchange-rate-based versus money-based stabilisation programmes in a cross-section of countries. The analysis finds that the effect of announcing exchange-rate-based programmes is more credible, in terms of reducing inflation inertia, than the outcome associated with implementing money-based programmes. But the gap between the magnitudes of the impacts from implementing the different strategies has been falling since the 1970s.
Keywords: Inflation stabilisation; credibility; nominal anchors; IMF programmes (search for similar items in EconPapers)
JEL-codes: E31 E63 F41 (search for similar items in EconPapers)
Pages: 19 pages
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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Journal Article: Assessing the impact of different nominal anchors on the credibility of stabilisation programmes (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:kngedp:2012_001
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