Why Do Many Disinflations Fail? : The Importance of Luck, Timing, and Political Institutions /
Many inflation stabilizations succeed only temporarily. Using a sample of 51 episodes of stabilization from inflation levels above 40 percent, we show that most of the failures are explained by bad luck, unfavorable initial conditions, and inadequate political institutions. The evolution of trading...
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| Format: | Tidsskrift |
| Sprog: | English |
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Washington, D.C. :
International Monetary Fund,
2002.
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| Serier: | IMF Working Papers; Working Paper ;
No. 2002/228 |
| Online adgang: | Full text available on IMF |