Assessing the impact of different nominal anchors on the credibility of stabilisation programmes

Prazmowski, Peter A. and Sanchez Fung, Jose (2012) Assessing the impact of different nominal anchors on the credibility of stabilisation programmes. (Discussion Paper) Kingston upon Thames, U.K. : Faculty of Arts and Social Sciences, Kingston University. 19 p. (Economics Discussion Paper, no. 2012/1)

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Abstract

The paper compares the impact of announcing exchange-rate-based versus money-based stabilisation programmes in a cross-section of countries. The analysis finds that the effect of announcing exchange-rate-based programmes is more credible, in terms of reducing inflation inertia, than the outcome associated with implementing money-based programmes. But the gap between the magnitudes of the impacts from implementing the different strategies has been falling since the 1970s.

Item Type: Monograph (Discussion Paper)
Research Area: Economics and econometrics
Faculty, School or Research Centre: Faculty of Arts and Social Sciences > School of Economics (until November 2012)
Depositing User: José Sanchez Fung
Date Deposited: 24 May 2012 13:32
Last Modified: 16 Jul 2012 21:55
URI: http://eprints.kingston.ac.uk/id/eprint/22817

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