The Success of Currency Reforms to End Great Inflations: An Empirical Analysis of 34 High Inflations

The estimation of an ordered probit model for currency reforms trying to end 31hyperinflations and three big inflations of the 20th century shows that the introduction of anindependent central bank and the adoption of a credibly fixed exchange rate are crucial for the successof a currency reform. In addition, currency reforms are demonstrated to be more difficult in centrallyplanned economies than in market economies.

MoreLess

Year of publication:	2007
Authors:	Bernholz, Peter ; Kugler, Peter
Institutions:	Wirtschaftswissenschaftliches Zentrum, Universität Basel
Subject:	Great inflations \| currency reforms \| central bank independence \| fixed exchange rate

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	application/pdf
Series:	Working papers.
Type of publication:	Book / Working Paper
Classification:	E31 - Price Level; Inflation; Deflation ; E58 - Central Banks and Their Policies ; E65 - Studies of Particular Policy Episodes
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009025045