Empirical Analysis of High-Inflation Episodes in Argentina, Brazil, and Israel.

Although accommodative policies and widespread indexation may account for the persistence of high inflation, they cannot explain changes in the inflation rate. This paper examines the causes of such changes for the high-inflation episodes immediately preceding the recent 'heterodox' attemp...

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Bibliographische Detailangaben
Körperschaft: International Monetary Fund
Format: Zeitschrift
Sprache:English
Veröffentlicht: Washington, D.C. : International Monetary Fund, 1988.
Schriftenreihe:IMF Working Papers; Working Paper ; No. 1988/068
Online Zugang:Full text available on IMF
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245 1 0 |a Empirical Analysis of High-Inflation Episodes in Argentina, Brazil, and Israel. 
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300 |a 1 online resource (28 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Although accommodative policies and widespread indexation may account for the persistence of high inflation, they cannot explain changes in the inflation rate. This paper examines the causes of such changes for the high-inflation episodes immediately preceding the recent 'heterodox' attempts at stabilization in Argentina, Brazil, and Israel. An attempt is made to distinguish between the 'fiscal' and 'balance of payments' views of the causes of high inflation by computing historical decompositions of these episodes based on vector autoregressions. In all three cases, the results indicate that nominal exchange rate shocks played the dominant role in triggering an acceleration of inflation. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1988/068 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1988/068/001.1988.issue-068-en.xml  |z IMF e-Library