Can the Release of a Monetary Overhang Trigger Hyperinflation? /
It is widely feared that, once prices are decontrolled in the formerly centrally-planned economies, households' release of previously accumulated money will trigger a hyperinflation. This paper finds, instead, that whether a country's fiscal, monetary, and labor market policies are destabi...
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| Format: | Revista |
| Idioma: | English |
| Publicat: |
Washington, D.C. :
International Monetary Fund,
1992.
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| Col·lecció: | IMF Working Papers; Working Paper ;
No. 1992/024 |
| Accés en línia: | Full text available on IMF |
| Sumari: | It is widely feared that, once prices are decontrolled in the formerly centrally-planned economies, households' release of previously accumulated money will trigger a hyperinflation. This paper finds, instead, that whether a country's fiscal, monetary, and labor market policies are destabilizing typically does not depend on the money stock. However, the release of a monetary overhang can precipitate a large initial real wage shock. To the extent such a shock is not feasible politically, there is a motive for monetary reform, which must be weighed against the cost of reduced public confidence in money. |
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| Descripció de l’ítem: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Descripció física: | 1 online resource (36 pages) |
| Format: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| Accés: | Electronic access restricted to authorized BRAC University faculty, staff and students |