Are Stabilization Programs Expansionary?

The empirical evidence presented in this paper casts doubts on the by now widely accepted "fact"that the exchange rate based stabilization programs are expansionary. Even though these programs were associated with output booms, no evidence of booms caused both by the stabilization programs is found. rather, positive external shocks seem to have caused both the output booms and the stabilization programs.

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Year of publication:	1997-09
Authors:	Echenique, Federico ; Forteza, Alvaro
Institutions:	Departamento de Economía, Facultad de Ciencias Sociales
Subject:	Price stabilization \| Inflation

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Extent:	application/pdf
Series:	Documentos de Trabajo (working papers).
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 0497 19 pages
Classification:	E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization ; F30 - International Finance. General ; F41 - Open Economy Macroeconomics ; O54 - Latin America; Caribbean
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004990434