Why is inflation so low after large devaluations?

Ariel Burstein, Martin Eichenbaum and Sergio Rebelo

This paper studies the behavior of inflation after nine large post-1990 contractionary devaluations. A salient feature of the data is that inflation is low relative to the rate of devaluation. We argue that distribution costs and substitution away from imports to lower quality local goods can account quantitatively for the post-devaluation behavior of prices.

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Year of publication:	June 2003
Authors:	Burstein, Ariel T. ; Eichenbaum, Martin S. ; Rebelo, Sérgio
Publisher:	Budapest : Institute of Economics, Hungarian Academy of Sciences
Subject:	inflation \| devaluation \| exchange rates \| Inflation \| Wechselkurs \| Exchange rate \| Abwertung \| Currency devaluation \| Theorie \| Theory \| Wechselkurspolitik \| Exchange rate policy

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Extent:	1 Online-Ressource (circa 57 Seiten) Illustrationen
Series:	Mu̐helytanulmányok / Magyar Tudományos Akadémia, Közgazdaságtudományi Kutatóközpont. - Budapest : [Verlag nicht ermittelbar], ZDB-ID 2276847-6. - Vol. MT-DP. 2003, 8
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Notes:	Erscheint auch als Druck-Ausgabe Zusammenfassung in ungarischer Sprache
Other identifiers:	hdl:10419/108052 [Handle]
Classification:	F31 - Foreign Exchange
Source:	ECONIS - Online Catalogue of the ZBW

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