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|c 5.00 USD
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|z 9781451965315
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Agenor, Pierre-Richard.
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|a Inflation and Monetary Reform /
|c Pierre-Richard Agenor, Anna Lennblad.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1992.
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|a 1 online resource (34 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 The introduction of a new currency has often occurred as part of a program to fight hyperinflation. In this context, non-uniform conversion rates for different types of assets and liabilities have been used as a means of reducing an initial 'excess' stock of liquidity. The paper examines the anticipatory dynamics associated with such reforms. The analysis suggests that monetary reforms of this type have a deflationary effect upon announcement as well as during the transition period. Under uncertainty about the reform date, the direction of the initial jump in prices upon announcement is a priori ambiguous. Upon implementation, a monetary reform leads to a downward jump in prices.
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|a Mode of access: Internet
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|a Germany
|2 imf
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|a Lennblad, Anna.
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|a IMF Working Papers; Working Paper ;
|v No. 1992/060
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1992/060/001.1992.issue-060-en.xml
|z IMF e-Library
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