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|z 9781451849691
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|a 1018-5941
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|a Detragiache, Enrica.
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|a Exchange Rate-Based Stabilization in Western Europe :
|b Greece, Ireland, Italy and Portugal /
|c Enrica Detragiache, A. Hamann.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1997.
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|a 1 online resource (29 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper compares the experience with exchange-rate-based stabilization (ERBS) of four Western European countries with that of high-inflation developing countries. In general, the behavior of key macroeconomic variables-inflation, output, demand, the real exchange rate and the current account-in the four countries examined did not correspond to the pattern observed in developing countries, although some resemblance to this pattern could be found in Italy in 1987-92 and Greece in 1994-96. The experience with ERBS in Western Europe highlights the importance of incomes policy as an ingredient of a successful stabilization program and shows that the adoption of a looser anchor does not necessarily reduce the output cost of disinflation.
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|a Mode of access: Internet
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|a Hamann, A.
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|a IMF Working Papers; Working Paper ;
|v No. 1997/075
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1997/075/001.1997.issue-075-en.xml
|z IMF e-Library
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