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AALejournalIMF007771 |
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|c 5.00 USD
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|z 9781451980622
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a International Monetary Fund.
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|a The Role of Monetary Policy in Israel's 1985 Stabilization Effort.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1990.
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|a 1 online resource (100 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 Comparing the performances of the Austral, Cruzado and Sheqel programs shows that the latent suggestion that a 'heterodox' stabilization program can be implemented without tight fiscal discipline to support a restrictive monetary policy, though welcome in the politicial arena, is unwarranted. Freezes, pegs and controls alone are bound to lead to dismal failure. A highly restrictive monetary policy sustained by a tight fiscal policy persisting for a lengthy interval (in terms of the political horizon), supported by a stable exchange rate as a highly visible nominal anchor and by a temporary but significant erosion of real wages, have succeeded to contain a runaway inflation in Israel.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1990/029
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1990/029/001.1990.issue-029-en.xml
|z IMF e-Library
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