Are Stabilization Programs Expansionary?

The empirical evidence presented in this paper casts doubts on the by now widely accepted "fact"that the exchange rate based stabilization programs are expansionary. Even though these programs were associated with output booms, no evidence of booms caused both by the stabilization programs is found. rather, positive external shocks seem to have caused both the output booms and the stabilization programs.

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Year of publication:	1997
Authors:	Forteza, A.
Subject:	PRICES \| INFLATION

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Type of publication:	Book / Working Paper
Notes:	18 pages
Classification:	E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization ; F30 - International Finance. General ; F41 - Open Economy Macroeconomics ; O54 - Latin America; Caribbean
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005646848