This article analyzes the effects of the timing of elections on the timing and character of adopted inflation stabilization plans. Multinomial logit estimations show that before elections exchange rate-based stabilizations are more likely to be implemented than money-based stabilizations, while...

In some new political economic models, delays of stabilizations result from coordination problems caused by collective choice-making mechanisms. Although several previous studies have tested the effects of political instability and fragmentation on seigniorage, deficits, or inflation, no direct...

When the choice of the nominal anchor and timing of inflation stabilization is analyzed with models of political business cycles, there is room for political opportunism of policymakers. The different business cycles associated with exchange rate-based (ERBS) and money-based stabilizations (MBS)...

This paper is an empirical analysis of the likelihood of failure of inflation stabilization programs. Random effects logit models are estimated on a dataset of 39 programs implemented in 10 countries, in order to determine which economic and political variables affect the probability of failure...